Corporate PresentationAugust 11, 2020

DisclaimerThis Presentation contains certain "forward-looking statements" including, without limitation, expectations, beliefs, plans and objectives regarding the timing and nature of estimated future exploration, success of exploration activities, and potential transactions and ventures discussed. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, environmental permits, the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and general economic conditions.

Wade A. Hodges, CEO of Nevada Exploration Inc., is the Qualified Person, as defined in National Instrument 43-101, and hasprepared the technical and scientific information contained in this Presentation.

TSX.V:NGE; OTCQB:NVDEF

Market Cap: CA$23M

Issued & Outstanding: 104M

Fully Diluted: 134M

Insider Ownership: 25%

Nevada Exploration Inc.Team of proven Nevada explorers (+50 Moz)

First mover applying new technologies

Exploring for Tier 1 Carlin-type gold deposits

Advancing three district-scale projects (150 km2)

Involved in discovery +30 Moz of gold in NevadaSr. Exploration Manager, Santa Fe Pacific Gold40 years Nevada experience

Wade A. HodgesM.Sc., P.GeoCEO & Director

30 years Nevada experienceInvolved in discovery 7 Moz of gold in Nevada

Kenneth N. TullarB.Sc., P.GeoCOO

Global Porphyry Copper Exploration Manager, BHP38 years of international experience

Dr. John E. LarsonPh.D.Director

James BuskardMBA, BESPresident

GoldrushTwin CreeksLone TreeRosebudMule CanyonElder CreekGoldbarEasy JuniorCove McCoyWildcatMtn. ViewGoldfieldNew Aurora

+50 Moz of Gold in Nevada

Leader in undercover exploration technologies15 years Nevada experience

Member of Barrick’s discovery team at GoldrushChief Geochemist Global, and Chief Geologist South America, Barrick28 years of international experience

Simon GriffithsM.Sc.Senior Technical Advisor

Proven technical team

80%From 3 Camps

Carlin: 119 Moz AuCortez: 44 Moz AuGetchell: 38 Moz Au

+ +

0

1

2

3

4

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9

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1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025

Nevada AnnualGold Production

(Moz/year)SOURCE: NBMG

1998: 8.9 Moz

-40 %

2017: 5.6 Moz

( W O R L D ’ S L A R G E S T M I N I N G C O M PA N Y )

Jean des Rivieres

Vice President Exploration Copper

"We need to be mindful that the near-surface search space is quickly disappearing …any world-class orebody that was partially exposed has most likely been discovered."

Under Cover

85%

BHP’S EXPLORATION BUDGET

Under-cover opportunity in Nevada

55%

>200Produced to date

Moz Au

>200Moz Au

Projected residual endowment under cover

New Lab Technology (HR-ICP-MS)

Latest under-cover detection technology

Then Now

GROUNDWATER“The universal solvent”

Footprints ingroundwater

10X > deposits

Paul Agnew Chief Geologist Technology"Anyone drilling a hole and not taking a

groundwater sample is crazy.“(Keynote Plenary Session, Exploration ’17 – Toronto)

Groundwater programs around the worldIndustry leaders

CSIRO

First QuantumAnglo American Chile & Phelps Dodge

Nevada Exploration

NGE Groundwater ProgramWorld’s largest program

+6,000 groundwater samples mostlyfrom purpose-drilled sampling bores

Tested around +30 known gold mines

Built database of new exploration targets

Discovered 3 new district-scaleCarlin-type gold projects (150 km2)

Kelly CreekGrass Valley

South GrassValley

Groundwater samples

NGE projects

Cortez HillsPipeline Goldrush / Fourmile

South GrassValley Project

Air magnetic survey (2018)Gravity survey (2018)

Soil geochemistry (2018-19)Infill groundwater (2018-19)

Detailed mapping (2019)Stratigraphic orientation drilling (2018-19)

Infill RC drill sampling (2020)

Cortez District (44 Moz Au)

Grass ValleyIntrusive Stock

2018-2019 Initial Stratigraphic Core Holes2020 Infill Reverse-Circulation Sampling Holes

Lower-PlateHost Rocks

South Grass Valley ProjectClassic architecture of a Carlin-type gold district• Complex, regional-scale structural fabric with multiple structural trap sites• Thick package of reactive lower-plate exhibiting significant brecciation• Along the margin of a major intrusive

Size of systemSouth Grass Valley ProjectMassive Carlin-type Mineral System

Widespread alteration, intense silicification

Multi-phase sulfide & oxide mineralization

Enriched gold and CTGD pathfinders

South Grass Valley ProjectControls for Mineralization

Primary source of mineralized hydrothermal fluids from deep-seated regional-scale structural corridor

Dominant secondary control of fluid flow associated with

a Cambrian-aged limey mudstone (the “Clm Unit”)

Intersection of Clm Unitand structural corridor defines

East Golden Gorge target

South Grass Valley ProjectPlanned 2020-21 Core Drilling Program

12,500-metre10-hole program

South Grass Valley ProjectGoldrush footprint for scale(10 Moz Gold @ 10 g/t)

KC Google EarthKelly Creek Project

Gravity, air magnetic, seismic,CSAMT geophysics (pre-2016)

Stratigraphic orientation drilling (pre-2016)Wide-spread shallow RC drilling (2016-17)

Getchell District(38 Moz Au)

Lone Tree(4.6 Moz Au)

Approx. ProjectArea (53 km2)

Kelly Creek ProjectMajor land holdersHistorically, limited systematic, coordinated exploration: multiple holders have advanced smaller land positions in isolation, including: BHP, Newmont, Barrick, AngloGold, Hemlo, Homestake, and Kennecott

Today, consolidated to threemajor holders:1. Nevada Gold Mines

(Barrick and Newmont JV)2. SSR Mining3. Nevada Exploration

Kelly Creek Project2016-17 Shallow RC Sampling Results

Marigold(8.2 Moz)

Lone Tree(4.6 Moz)

Gold in groundwater

Based on the combined gravity, air magnetic,seismic, CSAMT, and early orientation drill holes,Nevada Exploration confirmed the favourable hostunits and structural controls associated with LoneTree and Marigold project northwards to the KellyCreek Project area, under relatively shallow cover

The 2016-17 shallow RC drilling defined discreteNNW zones of enriched gold in bedrock andgroundwater bounded by the primary N-Sstructural fabric that runs north from Marigold,consistent with the geometry of zones ofstructural extension (Riedel-style shears) thatprovide important mineral-controls at many ofNevada’s major gold deposits.

Kelly Creek ProjectJuly 2020: NGE optioned project to Austin Gold Corp.Terms:

• To earn a 51% JV interest, Austin Gold must spend $5M within four years

• Austin Gold can earn an additional 19% interest (for a total of 70%), by delivering a prefeasibility study

• At NGE’s election, Austin Gold to provide NGE’sportion of any debt financing or arrange for third party financing of NGE’s portion of any debt financing to construct a mine in exchange for additional 5%

• If a party is diluted to a 10% interest in the joint venture, its interest will be converted to a 10% net profits interest

Austin’s Executive Chairman, Joe Ovsenek(former Pretium Resources Inc. CEO):“Kelly Creek is one of only a handful of district-scale Carlin-type gold projects not currently controlled by the majors. SSR Mining’s recent drilling success at nearby Trenton Canyon highlights the potential to discover new mineralization within the Battle Mountain Mining District, and is bringing new attention to the area. Now that the definitive agreement is signed, we’re looking forward to working with Nevada Exploration to integrate their comprehensive exploration dataset with the latest research on the district, and we’re gearing up to get on the ground.”

KC Google Earth

(North) GrassValley Project

Gravity survey (2013)Reprocessed historic seismic (2013)

Soil geochemistry (2013)Infill groundwater sampling (2014)

Assayed historic drill cuttings (2015)

13 km

ProjectArea (36 km2)

Cortez HillsPipeline Goldrush / FourmileCortez District (44 Moz Au)

Grass Valley ProjectResults & PlansWork to date has established evidence that the complex structural controls associated with Cortez are also present along western edge of Grass Valley.

This favourable structural setting is coincident with both potentially favorable host rocks as well as enriched concentrations of gold and supporting trace-element geochemistry in groundwater, soils, and vegetation, as well as historic drilling.

Based on the combined datasets, the Company believes the Project exhibits the features and the scale of a potentially gold-bearing hydrothermal system consistent with a large CTGD.

Nevada Exploration expects next phase of work will consist of a series of stratigraphic orientation drill holes to test for a large Carlin-type hydrothermal mineral system.

Led by proven team of explorers (+50 Moz) with high insider ownership (25%)

First mover using latest technology to explore for Nevada’s +200 Moz under-cover gold endowment

Major land holder with pipeline of 3 district-scale Carlin-type gold projects (150 km2)

Multiple opportunities for discovery

Aggressive 12,500-metre drilling program at flagship South Grass Valley Project to begin in 2020

Why Invest