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

PCR:TSX.V

September 2014

December 2014

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 Edgewater Exploration 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 acquired a 100% interest in the Enchi Gold Project, Ghana from Edgewater Exploration (51%) and Kinross Gold Corp (49%) for PCR.V shares*

• Kinross owns a 19.9% share position in Pinecrest (PCR.V)

• Sandstorm owns 18% equity interest in Pinecrest

• 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

• The current oxide gold resource is open for expansion in all directions

• 696 square 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 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.

• Pinecrest Resources management team and Board of Directors has a proven track record of maximizing shareholder value

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

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Overview

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

• Barrick sells 10% of African Barrick for US$188 million• Asanko Gold recently completed a US$150 million senior project debt facility with

RK Mine Finance and are fully financed to complete construction in Ghana• B2Gold buying Volta and Papillon Resources• True Gold financing +$120M for an advanced stage heap leach project in Burkina

Faso*• Ghana – Oldest democratic independent country in Africa• Stable and fair mining tenure• Prolific greenstone belts with the discovery rate in Ghana still increasing

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

Renewed Focus on African Gold Equities

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Enterprise Valuation per ounce*High = $130 Low = $3 Average = ~$31 Pinecrest = $7

*Haywood Securities, August 29,2014 Junior Gold Company Resources with Engineering Studies EV/oz; $31/oz to $36/oz 5

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Enchi Gold Project Valuation Comps

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, +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,has been involved in raising over $500 million of equity and debtand completed 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 &CEO of Featherstone Capital, he has been Founder anddirector of several 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.Johnson was Vice President of First Marathon Securities,during his tenure at the firm, First Marathon participated inover $5 billion of equity financings for natural resourcecompanies. He is currently the Chairman of FeatherstoneCapital Advisors, he has been founder and director of severalpublic companies

Management and Directors

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 $3,200,000 (post financing)

Listed 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

•Very Stable jurisdiction

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 696km2 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

9* 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

True Gold’s Karma Project Feasibility Study used 0.2g/t Au cut-off for oxide gold mineralized, 0.22 g/t Au cut-off for transitional goldmineralization and 0.5 g/t Au for sulphide mineralization1.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 10

The May 2014 Resource Estimate was prepared by independent qualified person Todd McCracken, P. Geo. of WSP Canada Inc. (“WSP”) a technical report will be completed 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)

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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

True Gold (TSX.V:TGM) Market Capitalization $95 Million

Pinecrest Resources (TSX.V:PCR) Market Capitalization $10 Million (post $3.6M financing)

Enchi/Karma(True Gold) Resource Comp

Several different targets identified with multi-million ounce potential to build 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

Clear Resource Expansion Potential

• The 5 Million ounce Chirano Gold mine hosts plunging zones of gold mineralization

• Similar to Gold Zones on the EnchiGold Project including known zones Boin and Nyam

• Lower grade at surface on both Chirano and Boin, Enchi Gold Project

• Boin/Nyam Gold Zones previous drilling depth of approximately 75-100 metres

5m @ 3.77g/t gold

29m @ 1.68g/t gold 39m @ 1.79g/t gold

22m @ 1.44g/t gold

6m @ 5.75g/t gold

16m @ 2.51g/t gold

Deeper drilling planned

Completed Diamond Drilling

Previously Completed Drilling

> 20 gram metres

> 10 < 20 gram metres

> 5 < 10 gram metres

< 5 gram metres Completed Drilling

500m

Chirano Gold Mine Gold Zone

Discovery +150m

50m

100m

150m

Chirano Gold Zone

Boin Gold Zone, Enchi Project

OPEN

Cross sections (grade x thickness)

50m

100m

150mOPEN OPEN

30m @ 1.92g/t gold

24m @ 1.72g/t gold

21m @ 2.56g/t gold

Chirano\Enchi Project Comparisons

• Regional airborne study (VTEM and

Mag) flown over the entire Enchi

project (568 square km)

• Interpretation completed by Condor

Geophysics in Denver, Colorado

• Several structures appear to correlate

to known mineralization, while many

other similar structure patterns

remain untested

• Interpretation work has identified

several additional drill targets

Current NI 43-101 Resource Estimate Includes the Boin, Nyam and Sewum gold deposits

Deposits are open for resource expansion inall directions

Boin

Sewum

Nyam

Boin

Sewum

Nyam

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Enchi Exploration Potential

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• Three parallel soil anomalies each approx. 3.2km strike length

• Only 2 trenches totaling 435m were completed on the anomalies

• Assayed 37m grading 1.47 g/t gold in trenches

Sewum

Eradi Gold Zone

• Highly prospective gold target

• Multiple kilometers of strike length defined

• Previous trench highlights:

• 1.14 g/t over 24.2m, 2.35 g/t over 11.0m, 0.70 g/t over 221m, 1.06 g/t over 17 m, 1.48 g/t over 78.0m and 1.86 g/t over 17 m

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Enchi Exploration Potential

• Complete Preliminary Economic Assessment (“PEA”)

• Complete Metallurgical testwork (heap leach potential)

• Resource Expansion: expand resource potential at Sewum, Nyam and Boin deposits both along strike and at depth

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

• Follow up on Vtem airborne survey with multiple new targets identified

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Pinecrest Plan

Summary

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• Pinecrest (PCR.V) completed the acquisition of a 100% interest in the Enchi Gold Project, Ghana from Edgewater Exploration (51%) and Kinross Gold Corp (49%) for PCR.V shares*

• Kinross owns a19.9% share position in Pinecrest (PCR.V)

• Sandstorm Gold owns ~18% share position in Pinecrest (PCR.V)

• Enchi 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

• Current oxide gold resource is open for expansion in all directions

• 696 square 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 potential of the Enchi property

• Pinecrest Resources’ initial value proposition will be to complete a Preliminary Economic Assessement (“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.

• Pinecrest Resources management team and Board of Directors has a proven track record of maximizing shareholder value

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