GCM Mining : Corporate Presentation - April 2022

www.gcm-mining.com

April 2022 Presentation

This presentation contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects, and, specifically, statements concerning anticipated growth in annual gold production, future cash costs and AISC, future G&A and capex, free cash flow, dividend payments, future debt repayments, mineral reserve and resource estimates, exploration programs, commencement of Toroparu operations, equity investments strategy, re-rating potential and other statements that are not historical facts. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of GCM Mining to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated as of March 31, 2022 which is available for view on SEDAR atwww.sedar.com.

Forward-looking statements contained herein are made as of the date of this presentation and GCM Mining disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

All amounts are denominated in U.S. dollars, unless indicated otherwise.

Disclaimer

Forward-Looking Statements

• • Emerging mid-tier Latin American gold producer.

• • Successful operational improvements in the last seven years.

• • Segovia is one of the highest-grade global underground gold mines.

• • Strong profit margins and low-cost structure.

• • Paying a monthly Dividend with an annual yield equivalent to > 3%.

• • Project portfolio adds diversification and scale.

• • Sixth year in a row of replacing or increasing reserves at Segovia. A 14% increase in M&I Resource ounces and 41% increase in Inferred resource ounces. 18% increase in reserves.

• • Robust balance sheet. Fully funded to build Toroparu.

• • Updated Mineral Resource estimate and positive PEA for Toroparu announced on December 1, 2021.

• • Seasoned team with proven track record and experience in Latin America.

• • Proven long-term ESG strategy.

Two Cornerstone Assets: The Path to

> 400,000 Ounces

GCM Mining at a Glance

Overview

Segovia Operations 100% ownershipToroparu Project 100% ownershipEquity Investments

High-Grade Underground Mines

One of the Largest Undeveloped Gold Deposits in the Americas

One of the Top 5 Highest-Grade Underground Global Gold Mines. 12.84 g/t in 2021

8.4 Million Ounces M&I Gold Resources; 5.4 Mozs Au mineable over 24 years in PEA

2021 Production 206,389 ozs; 1.5 Million Ounces Over Last 11 Years

Advanced Development Stage Project with Key Permits in Place

RPP Title in Historic Mining District with Significant Exploration Upside

2020/2021 Drilling has Identified Higher- Grade Gold Structures Being Incorporated in a New Geologic Model in the December 2021 PEA

28.6% equity interest

TSX-V: DSLV

Completed ~97,000 m of drilling in 2021. 91,000 m of drilling planned in 2022 including brownfield targets.

Guyana is Poised to be the World's

Fastest Growing Economy According to the IMF

Growth Through Diversification

Latin American Gold Produced

44% equity interest

TSX: ARIS

Marmato Colombia

Soto Norte Colombia

Juby Ontario

Lomero	Guia Antigua	Zancudo
Spain	Colombia	Colombia

Capital Structure

Exchanges

TSX: GCM OTCQX: TPRFF

Market Capitalization

CA$571.7 million (1)

Common Shares 97.9 millionWarrants:

GCM.WT.B: 10.2 million @ CA$2.21 (2024 expiry)

Unlisted: 16.9 million @ CA$1.90 to CA$6.50 (2022-2024 expiry)

Stock Options: 3.0 million @ CA$2.55 to CA$6.88 (2022-2027 expiry)

Convertible Debentures

CA$18 million @ CA$4.75 (2024 expiry)

Senior Unsecured Notes due 2026

US$300 million at 6.875% coupon

52 Week High/ Low

CA$8.40/ CA$4.50

NCIB(2)

Commenced October 20, 2021. Bought back and cancelled 284,201 shares in January 2022; 856,902 cumulative

Fully Diluted 131.7 million shares

1,000,000

800,000

600,000

400,000

200,000

-

30-Dec-19

30-Mar-20

• (1) Based on CA$5.84 at close on March 31, 2021.

  30-Jun-20

  30-Sep-20

  31-Dec-20

  31-Mar-21

• (2) The NCIB will allow the Company to purchase for cancellation up to 9,570,540 Shares of the Company over a 12-month period ending October 19, 2022

$10.00

$8.00

$6.00

$4.00

$2.00

$0.00

30-Jun-21

30-Sep-21

31-Dec-21

31-Mar-22