Acquisition of 100% Interest in the Enchi Gold Project, Ghana, West Africa

PCR:TSX.V

September 2014

January 2015

Certain statements in this document constitute “forward looking statements” which may not be basedon historical fact. Such forward looking statements involve known and unknown risk, uncertaintiesand other factors which may cause the actual results, performance or achievements of the Company,or industry results to be materially different from any future results, performance, or achievementsexpressed or implied by such forward looking statements. Such factors include, among others, thefollowing: actual results of exploration and development activities; the estimation or realization ofmineral reserves and resources; the timing and the amount of future production; the costs and timingof the development of new deposits; future prices of precious and base metals; accidents; risksinherent in mineral exploration; risks associated with development, construction and miningoperations; restrictions on foreign ownership; the Company’s history of operating losses anduncertainty of future profitability; uncertainty of access to additional capital; environmental liabilityclaims and insurance; and dependence on joint venture partners.

Mr. Gregory Smith, P. Geo., Vice President of Exploration for Pinecrest Resources Ltd., is thequalified person as defined by NI 43-101 and has prepared and approved the technical data andinformation in this corporate presentation.

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Forward Looking Statement

• Pinecrest Resources (PCR.V) has recently acquired a 100%* interest in the Enchi Gold Project

• Kinross Gold owns a 19.9% equity in Pinecrest (PCR.V)

• Sandstorm Gold subscribed for $2,000,000 of a recently financing and owns 18% equity interest in Pinecrest

• Currently The Enchi Gold project hosts a NI 43-101 Inferred Gold Resource of 37.3 million tonnes grading 0.90 g/t Au (0.5 g/t cutoff) containing 1.07 million ozs gold

• 568 square km land package is located on the prolific Bibiani shear zone that also hosts the 5M oz Chiranogold mine (Kinross) and the 5M oz Bibiani gold deposit

• Several drill intercepts grading 0.5g/t – 1.0g/t gold over 40-80 metres require significant follow-up drilling and reflect the outstanding exploration potential of the Enchi property

• Pinecrest Resources’ initial value proposition will be to complete Preliminary Economic Assessment (“PEA”) and metallurgical testing to investigate the potential for utilizing low cost open pit mining and heap leaching on the near surface +1 million oz gold resource

*subject to a 10% carried interest to the Ghana Government 3

Overview

• African focused resource companies up ~20% year to date

• Gold up ~ 9% year to date

• 2014 - Teranga closes US$135 million streaming deal with Franco Nevada on Senegal gold project

• Barrick sells 10% of African Barrick for US$188 million

• 2014 Asanko Gold completed a US$150 million senior project debt facility with RK Mine Finance and are fully financed to complete construction in Ghana• 2015 Asanko Gold Completed a US$40 million bought deal financing

• 2014 B2Gold acquired Volta and Papillon Resources

• Ghana• Oldest democratic independent country in Africa• Stable and fair mining tenure• Prolific greenstone belts with the discovery rate in Ghana still increasing• Numerous Majors operating in country; AngloGold Ashanti, Gold Fields, Kinross, Newmont &

Golden Star

*RBC Capital Markets “The Morning Miner” September 2, 2014 4

Renewed Focus on African Gold Equities

George Salamis, Chief Executive Officer, Director +20 years experience directing exploration, development, andmining operations of a number of gold, base metal and coalprojects, Mr. Salamis has held senior management positions withPlacer Dome and Cameco Corporation and has completed M & Atransactions valued over $1B

Greg Smith, P.Geo, VP Exploration+23 years exploration experience working for both junior &senior mining operations and has been involved in outlining+10Moz gold discovery

Edward Farrauto, Director+20 years experience as CFO and Director of public companies, hasbeen involved in raising over $500 million of equity and debt andcompleted M & A transactions valued over $750 million

Doug Forster, M.Sc. P.Geo, Director+30 years resource project development, M&A, equity finance

and public company management, Mr. Forster is President & CEOof Featherstone Capital, he has been Founder and director ofseveral public companies

Ryan King, President, Director+10 years experience in the resource sector as officer, directorand head of communications for TSX-V listed exploration anddevelopment companies. Mr. King has been directly involved inraising over $150 million in equity and completed M&Atransactions valued over $500 million

Daniel Wilson, Country ManagerMr. Wilson has worked in the mineral exploration field forover 16 years; he has extensive experience managing fieldexploration and drilling programs in Africa. Mr. Wilson haspreviously held senior positions with Ashanti Gold Fields andRed Back Mining

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Blayne Johnson, Director+25 years in the investment community, previously Mr. Johnsonwas Vice President of First Marathon Securities, during his tenureat the firm, First Marathon participated in over $5 billion of equityfinancings for natural resource companies. He is currently theChairman of Featherstone Capital Advisors, he has been founderand director of several public companies

Management and Directors

Dr. John Thomas, Technical Advisor+40 years experience in the mining industry in several countries.His experience covers a wide range of activities including processdevelopment, feasibility studies, management of constructionand operation of mines. Dr. Thomas is a professional engineer andhas a B.Sc., M.Sc., and a PhD in metallurgical processing

Issued and Outstanding 54,888,887 (post financing)Options 3,792,500Kinross Warrants 5,000,000 (5 year warrants priced at $0.30)Warrants 18,000,000 (2 year full warrant at 0.30)Fully Diluted 82,087,617Fully Diluted Cash ~$11,000,000Working Capital ~$3,000,000Listed PCR:TSX.V

• Pinecrest will pay $10/ounce on any new NI 43-101 Resource Estimates to Red Back a subsidiary of Kinross in cash or shares at Pinecrest election. Pinecrest will not be entitled to issue equity if such issuance would result in Red Back owning more than 20% of Pinecrest

• Red Back has a 2% NSR. Pinecrest has the option to purchase 1% back for US$3.5M

Kinross Deal Terms

Major ShareholdersKinross Gold 19.9%Sandstorm Gold 18%Management 13%

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Capital Structure

Enchi 1M oz (oxide) Au

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Ghana 2nd Largest Gold Producer in Africa

• 100% owned resource delineation stage Gold Project

• Completed NI 43-101 Inferred Gold Resource Estimate*(+1M ounces)

• Substantially underexplored 568km2 land package

• Located on the prolific Bibiani Shear zone which hosts multi-million ounce deposits

• Chirano Gold Mine located ~70km NW covers 10km of the Bibiani Shear Zone (in production)

• Enchi Gold Project covers 50km of the Bibiani Shear Zone

• Vtem airborne geophysical survey identified +25 new targets

• Resource zones Boin, Nyam, Sewum open in all directions

8* See page 10 for NI 43-101 Resource estimate details

Enchi Gold

Kinross – Chirano Gold Mine

Enchi Gold Project Overview

NI 43-101 Inferred Mineral Resource Summary*Cutoff (g/t Au) Tonnes Gold (g/t) Contained Gold

0.30 72,611,000 0.65 1,526,065

0.40 53,366,000 0.76 1,304,918*

0.50 37,357,000 0.90 1,078,702

0.70 20,816,000 1.15 768,000

0.90 12,933,000 1.36 569,879

1.0 10,127,000 1.49 484,388

*West African average cut-off is 0.4g/t which represents +1.3M ounces Gold

1.CIM definition standards were followed for the resource estimate.2.The 2014 resource models used ordinary kriging (OK) grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids. 3. A base cut-off grade of 0.7 g/t Au was used for reporting resources with a capping of gold grades at 18 g/t.4. A US$1,300/ounce gold price, open pit with heap leach operation was used to determine the cut-off grade.5. A density of 2.45 g/cm3 was applied.6. Numbers may not add exactly due to rounding.7. Mineral Resources that are not mineral reserves do not have economic viability

9*The May 2014 Resource Estimate was prepared by independent qualified person Todd McCracken, P. Geo. of WSP Canada Inc. (“WSP”) a technical report will becompleted within 45 days

The 2014 Mineral Resource estimate was based on 52,385 metres of diamond and RC drilling in 646 holes as well as data from 13,799 metres in 102 surface trenches. The drilling is generally spaced at 25 to 50 metre intervals.

Enchi Gold Project Resource Estimate (2014)

Resources open to drill between known zones as demonstrated by Boin and Sewum Long Sections

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Enchi Near Surface Resource Expansion Opportunity

Near surface oxide expansion opportunity on BOIN, NYAM & SEWUM resources.

100m depth

100m depth

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Cut-off (g/t Au) Resource/Reserve Million Tonnes Grade (g/t Au) Contained Gold (oz)

Enchi Gold Project 0.5 Inferred 37.4 0.90 1,078,702

Karma Gold Project* 0.19-0.36 Probable 33.2** 0.89 949,000

*True Gold - Karma Feasibility Study, December, 2013Project: Karma gold projectLocation: Birkina FasoStage: Feasibility/ConstructionMine Type: Open Pit, Heap LeachThroughput: 4.0 million tpaGold Recovery: 90.4% - 95.5%Production: 97,000 ozs gold/year Mine Life: 8.5 yearsCAPEX $131.5 millionIRR: 47.8%NPV5 (After Tax) $178.2 millionPayback: 1.4 yearsResources: Indicated: 2.6 million ozs

Inferred: 700,000 ozs** Karma Probable Reserve is comprised

of 67% oxide ore, 27% transitional ore and 6% sulphide ore

Pinecrest Resources (TSX.V:PCR) has a currentmarket capitalization of $10 Million. APreliminary Economic Assessment is underway toinvestigate the opportunity to utilizing low costopen pit mining, and heap leaching on the nearsurface +1 million oz gold resource. In comparison,True Gold’s (TSX.V:TGM) Karma Project,although more advanced has a marketcapitalization of $100 Million.

Enchi/Karma(True Gold) Resource Comparison

Several different targets identified with multi-million ounce opportunities to expand upon

2.65g/t Au over 35mOpen in all directions

1.44g/t Au over 17m Open in all directions(900m North of Boin Zone)

3 geo-chemical anomalies over 3km longOpen in all directions

1.13g/t Au over 34m Open in all directions

Sewum highest geo-chemical anomalyLimited drill results include: 2.0g/t Au over 30m, 0.53g/t Au over 81m

New Gold Zone outside of resource estimate1.14g/t Au over 68mKojina Hill

Kwakyekrom

New Gold Zone (1.51g/t Au over 22m) Open

Sewum South Discovery 2.01g/t Au over 29m (limited drilling)

Known Gold Zones

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Enchi Gold

Enchi Gold

Exploration Potential

• Regional airborne study completed

• Interpretation by Condor Geophysics

• Several structures appear to correlate to known mineralization, while many other similar structure patterns remain untested

• Current Resources zones only make up a small fraction of total land package – significant opportunity to expand

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Multiple Untested Targets

• Complete Preliminary Economic Assessment (“PEA”)

• Complete Metallurgical testwork (heap leach opportunity)

• Opportunity to expand current resources at Sewum, Nyam and Boindeposits both along strike and at depth

• Additional Exploration work on high priority gold targets (Eradi, Kojina Hill (1.14g/t over 68 metres)

• Vtem airborne survey identified multiple new drill ready targets to be tested

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Pinecrest Plan

Summary

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• Pinecrest Resources (PCR.V) has recently acquired a 100% interest in the Enchi Gold Project.

• Kinross Gold owns a 19.9% equity in Pinecrest (PCR.V).

• Sandstorm Gold subscribed for $2,000,000 of a recently financing and owns 18% equity interest in Pinecrest.

• Currently The Enchi Gold project hosts a NI 43-101 Inferred Gold Resource of 37.3 million tonnes grading 0.90 g/t Au (0.5 g/t cutoff) containing 1.07 million ozs gold.

• 568 sq. km land package is located on the prolific Bibiani shear zone that also hosts the 5M oz Chirano gold mine (Kinross) and the 5M oz Bibiani gold deposit.

• Several drill intercepts grading 0.5g/t – 1.0g/t gold over 40-80 metres require significant follow-up drilling and reflect the outstanding exploration opportunities on the Enchi property.

• Pinecrest Resources’ initial value proposition will be to complete Preliminary Economic Assessment (“PEA”) and metallurgical testing to investigate the potential for utilizing low cost open pit mining and heap leaching on the near surface +1 million oz gold resource.

*subject to a 10% carried interest to the Ghana Government