Gold Road Resources : Investor Presentation - March 2022 Quarterly Results

ASX Announcement

27 April 2022

For personal use only

Gold Road Resources	Media Enquiries
Duncan Gibbs	Peter Klinger
Managing Director & CEO
[e-mail]
Duncan Hughes
Manager - Corporate Development & Investor Relations	Cannings Purple
Tel: [phone]	Tel: [phone]

Company Announcements Platform ASX Limited

20 Bridge Street SYDNEY NSW 2000

Dear Sir / Madam

Investor Presentation - March 2022 Quarterly Results

In accordance with Gold Road Resources Limited's Continuous Disclosure Policy, enclosed is a copy of the Investor Presentation which is being released to the ASX Market Announcements Platform ahead of today's investor briefing.

This release has been authorised by the Board of Directors.

Yours faithfully

Gold Road Resources Limited

Hayden Bartrop Company Secretary

For further information, please visitwww.goldroad.com.auor contact:

ASX Code GOR

ABN 13 109 289 527

COMPANY DIRECTORS Tim Netscher

Chairman

Duncan Gibbs

Managing Director & CEO

Brian Levet Non-Executive Director

Denise McComish Non-Executive Director

Maree Arnason Non-Executive Director

Hayden Bartrop Company Secretary

CONTACT DETAILS Principal & Registered Office Level 2, 26 Colin St

West Perth WA [e-mail]

T [phone]

F [phone]

MARCH 2022 QUARTERLY RESULTS

INVESTOR PRESENTATION

DISCLAIMER

IMPORTANT NOTICES

Nature of this document: The purpose of this presentation is to provide general information about Gold Road Resources Limited (the 'Company'). Unless otherwise stated herein, the information in this presentation is based on the Company's own information and estimates. In attending this presentation or viewing this document you agree to be bound by the following terms and conditions. This document has been prepared by the Company. Information in this document should be read in conjunction with other announcements made by the Company to the Australian Securities Exchange and available atwww.goldroad.com.au orwww.asx.com.

Not an offer: This presentation is for information purposes only and does not c onstitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in the Company in any jurisdiction. This presentation and its contents must not be distributed, transmitted or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction.

Not financial product advice: This presentation does not take into account the individual investment objectives, financial situation and particular needs of each of the Company's Shareholders. You may wish to seek independent financial and taxation advice before making any decision in respect of this presentation. Neither the Company nor any of its related bodies corporate is licensed to provide financial product advice in respect of the Company's securities or any other financial products.

Forward-looking statements: Certain statements in the presentation are or may be "forward-looking statements" and represent the Company's intentions, projections, expectations or beliefs concerning, among other things, future operating and exploration results or the Company's future performance. These forward looking statements speak, and the presentation generally speaks, only at the date hereof. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks and uncertainties, and are necessarily based on assumptions, which may cause the Company's actual performance, results and achievements in future periods to differ materially from any express or implied estimates or projections. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Relevant factors which may affect the Company's actual performance, results and achievements include changes in commodity price, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, diminishing quantities or grades of reserves, political and social risks, changes to laws and regulations, environmental conditions, and recruitment and retention of personnel.

Disclaimer: No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisers and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this document, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. The Company is under no obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice.

Unverified information: This presentation may contain information (including information derived from publicly available sources) that has not been independently verified by the Company.

MARCH QUARTER HIGHLIGHTS

*100% basis. +Gold Road Attributable AISC.

1Cash & Equivalents (as at 31 March 2022) represents Cash, Bullion, and Dore 2Lost Time Injury Frequency Rate (LTIFR) for Gruyere and Gold Road. 3See ASX announcement dated 4 April 2022.

4Attributable Resources at 31 December 2021. See ASX announcement dated 17 February 2022. #Gold Road attributable resources include 50% share in Gold Road Underground Resource and 100% owned Yamarna Resources.

GRUYERE - MARCH QUARTER SUMMARY

GROWING PRODUCTION

Operation (100% basis)UnitMar 2022 QtrDec 2021 QtrSep 2021 QtrJun 2021 QtrCY21#

Ore Mined

•  71,135 ounces1 at AISC of A$1,526/oz2

  •  Fourth successive quarter of production growth

  •  Mining advancing to higher grade areas

    Waste Mined Strip Ratio Mined Grade Ore milled Head Grade Recovery

  •  Scheduled mill relines successfully completed

    Gold Produced**

    kt kt w:o g/t kt g/t % oz

    2,637 3,164

    2,591

    2,602 10,303

    7,544 7,541

    7,815

    7,421 29,103

    2.86 2.38

    3.02

    2.85 2.82

    1.08 1.00

    0.88

    0.87 0.95

    2,142 2,236

    2,101

    1,986 8,439

    1.17 1.04

    0.94

    0.92 1.01

    91.0 91.2

    71,135 67,813

    89.5 59,371

    89.8 90.5

    53,132 246,529

  •  Production to increase and AISC to decrease through 2022

  Cost Summary (GOR)*** Mining

•  2022 guidance unchanged

  Processing G&A

  •  Guidance: 300-340koz at AISC of A$1,270-1,470/oz

  GIC Movements By-product Credits Cash Cost

•  Gold Road sold 35,080 ounces at A$2,434/oz

  •  ~75% at spot

  •  ~25% hedged at average contract price of A$1,977/oz

    Royalties, Refining, Other Rehabilitation* Sustaining Leases Sustaining Capital All-in Sustaining Costs

    A$/oz A$/oz A$/oz A$/oz A$/oz A$/oz A$/oz A$/oz A$/oz A$/oz A$/oz

    164 190

    657 639

    154 102

    (5) (38)

    (2) (2)

    968 891

    85 80

    16 20

    102 108

    355 427

    1,526 1,526

    480 1,697

    204 712 130 (39) (3) 1,005 80 17SAG &

    135

    158

    702

    649

    156

    128

    (63)

    (40)

    (5) 924 85 19

    502 1,659

    (3) 892 80 18 113 455 1,558

  •  2,070 ounces of bullion and dore held at 31 March

  Sales (50% share)

  UnitMar 2022 QtrDec 2021 QtrSep 2021 QtrJun 2021 Qtr

  CY21#

•  Quarterly CAIC of A$1,834/oz+

Gold Sold

Average Sales Price

oz A$/oz

35,080 2,434

28,350 2,231

28,425 2,145

32,100 124,335

2,138 2,210

1100% basis unless otherwise stated. #Gold Road operates on a calendar year basis

*Rehabilitation includes accretion and amortisation. #Gold Road operates to a calendar financial year. ** Gold produced is after GIC adjustment ***Cost per ounce reported against gold ounces produced during the quarter.

2Attributable AISC. Refer to ASX announcement 27 April 2022. +CAIC = Corporate all in costs. CAIC calculated as (AISC + growth capital + corporate costs + exploration costs)/ounces produced.