TV Tower, Western Turkey:

A District in the Making

Moira Smith, Matt Lennox-King, Hakan Boran, Tolga
Incekaraoglu, Will Lepore, Peter Shabestari and Ken Raabe
 Forward Looking Statements
All statements in this presentation, other than statements of historical fact, are "forward-looking information" with respect to Pilot Gold within the meaning of applicable securities laws, including statements that address resource potential quantity and/or grade of minerals, potential size of a mineralized zone, potential
expansion of mineralization, the timing of and results of future resource estimates, timing of exploration and development plans and timing of obtaining permits or completing earn-in obligations at the Companys mineral projects. Forward-looking information is often, but not always, identified by the use of words such as
"seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be
taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, copper, silver, molybdenum and other metal
prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of
equipment, accuracy of any mineral resources and mineral reserves, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Pilot Gold and there is no assurance they will prove to be correct.
Such forward-looking information, including, but not limited to, statements that address reserve or resource potential, the estimation of mineral reserves and resources, the timing and results of future resource estimates, proposed timing of exploration and development plans at the Companys mineral projects, reliance of
technical information provided by our joint venture partners or other third parties as related to any of our exploration properties, changes in project parameters as plans continue to be refined, funding cash-calls made by TMST for ongoing expenditure at Halilaga, successful earn-in at TV Tower, including the ability to incur
the minimum annual Expenditure Requirements and future issuances of Common shares as consideration to complete the earn-in agreement, current and proposed exploration and development, estimated future working capital, uses of funds, future capital expenditures; information with respect to exploration results, the
timing and success of exploration activities generally; the costs and timing of the development of new deposits, potential quantity and/or grade of minerals, potential size of mineralized zone, potential expansion of mineralization, potential type of mining operation; the timing, timeline and possible outcome of permitting or
license renewal applications; the ability to maintain or convert the underlying licenses in accordance with the requirements of the Turkish Mining Law, government regulation of exploration and mining operations, environmental risks, including satisfaction of Turkish requirements relating to the periodic submissions of
Environmental Impact Assessments, title disputes or claims, and limitations on insurance coverage involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Pilot Gold to be materially different from any future results, performance or achievements
expressed or implied by such forward looking information. Such factors include, among others, risks related to the interpretation and actual results of historical production at certain of our exploration properties, reliance on technical information provided by our joint venture partners or other third parties as related to any of
our other exploration properties; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes
and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Companys Annual Information Form (AIF) for the year ended December 31, 2012, dated March 27, 2013 in sections entitled "Risk Factors", under Pilot
Golds SEDAR profile at www.sedar.com.
Although Pilot Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Pilot Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Accordingly, readers should not place undue reliance on forward-looking information.
Moira Smith, Ph.D., P.Geo, Chief Geologist, Pilot Gold, and Qualified Person under National Instrument 43-101 and has reviewed and verified that the scientific and technical information contained hereon is accurate.
Unless stated otherwise, information of a scientific or technical nature in this presentation regarding the TV Tower property is summarized, derived or extracted from, the technical report entitled Updated Technical Report on the TV Tower Exploration Property, Canakkale, Western Turkey, effective July 15, 2012 and dated
August 3, 2012 prepared by Paul Gribble, C.Eng., FIMMM. This technical report has been filed under the Companys issuer profile on SEDAR at www.sedar.com.
James N. Gray, P.Geo of Advantage Geoservices Ltd. is the Companys designated Qualified Person as defined by NI 43-101 for the KCD resource estimate. Mr. Gray is independent of Pilot Gold and prepared the information that forms the basis for KCD resource. For more information, please refer to Pilot Golds news release
titled Pilot Gold reports silver-rich maiden resource estimate for the KCD deposit, TV Tower dated January 23, 2014 and filed to SEDAR at www.sedar.com. Further details of the estimation methods and procedures will be available in a NI 43-101 technical report, to be co-authored and released by SRK Consulting (Canada)
Inc. (SRK), which will be filed on SEDAR (www.sedar.com), within 45 days from the date of this release.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources
Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates include inferred mineral resources that are normally considered too speculative geologically to have
economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these inferred mineral resources will be converted to measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied. The
mineral resource estimates referenced in this press release use the terms Indicated Mineral Resources and Inferred Mineral Resources. While these terms are defined in and required by Canadian regulations (under NI 43-101), these terms are not recognized by the U.S. Securities and Exchange Commission (SEC).
"Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant reserves as in-place tonnage and grade without
reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Pilot Gold is not an SEC registered company.
Why Turkey?

Europes largest gold producer:

1.1 million oz/yr* (Eldorado, Alacer, Koza)
+25 million ounces of gold reserves have been identified **
Fraser Institute Mining Survey ranked Turkey #8 of 96 for Mineral Policy and Potential,
tied with Ontario and Quebec
Transparent tenure and permitting; favourable tax laws; mining friendly
3
**Data sourced from: Turkey: Europes Largest Gold Producer, Mining Turkey, September 2011
Biga Infrastructure

Power line runs across

Halilaa Property

320 MW power generating station: 2 more planned

2 deep water ports: Bandirma & anakkale
Paved highways
Moderate topography
Regional airport in anakkale 320 MW coal-fired generating station
in an provides power to the Biga area
4
Tectonic Setting
Tethyan Metallogenic Belt
Stretches from eastern Europe
through Iran and beyond
Mesozoic southward subduction
and closing of the Tethys ocean Biga
Opening of NeoTethys ocean and Peninsula
closure through north-directed
subduction through late Paleocene
Protracted Paleocene-Miocene
collision of the African, Arabian,
Indian plates with Eurasia (Alpine
Orogeny)
Calc-alkalic magmatism 52-18 Ma,
in particular 38 22 Ma
Area of N-S extension/
transtension/ right lateral faulting
in western Turkey From MDRU website
Regional Geology
Biga District
Teck/Pilot Gold JV Property

480000E
400000E

460000E
440000E

540000E
520000E
500000E
420000E
B High Sulphidation Au (Ag, Cu)
Low Sulphidation (Au-Ag)
Miocene volcanic rocks

Oligocene volcanic rocks

Pz-Mz metamorphic basement Intermediate Sulphidation
4470000NPorphyry Cu-Au
Eocene volcanic rocks

(sedimentary, ophiolitic
U. Cretaceous Miocene
Unclassified
intrusive rocks
High angle fault
Kestanelik
protolith) Low angle fault

4450000N
Tertiary calc-alkalic continental Canakkale
arc volcanic and intrusive rocks Kirazli
Can
Extension/transtension
4430000N

TV Tower
Alankoy

Kartaldag
High heat flow Kuscayiri Pirentepe
Halilaga
4410000N Agi Dagi
Bayramic
Ezine

4390000N
N
0 10 20
Edremit
km Kucukdere
4370000N

After Yigit (2011)

Deposit Models
Most resources, reserves and production to date from low sulphidation Au-Ag veins
Most deposits discovered in the last few decades are of high sulphidation or porphyry type

From Corbett (2008)

 Exploration Timeline
Mineralization (re)discovered by Fronteer and Teck geologists during regional programs (2003 - 2008)
Teck Operator: Discoveries at Kkda (KCD) and Kayal (late 2010-early 2011)
Pilot Gold became project operator June, 2012, earning in to 60% from 40% by spending $21 million
over 3 years
Year 1:
Regional mapping, geophysics, geochemistry
Intensive drilling at KCD
Target definition
September 2013 - acquisition of Karaay license
January 2014 - initial resource estimate at KCD*

*For more information, please refer to Pilot Golds news release titled Pilot Gold reports silver rich
maiden resource estimate for the KCD deposit, TV Tower dated January 23, 2014 and filed to SEDAR at
www.sedar.com
8 8
TVT Project Geology
TVT Project Alteration
TVT Project Au in Soil

Data
Pending
TVT Project Cu in Soil

Data
Pending
KCD Introduction
Outcropping HSE Au-Ag-Cu Deposit:
Located in the NE corner of the property
Discovered through prospecting and follow
up of soil geochemistry and anomalous rock
samples
Initial discovery hole drilled by Teck in late
2010:
o 136.2m of 4.28 g/t Au, 15.8 g/t Ag,
0.68% Cu in KCD-02
Gangue: Vuggy and massive quartz, alunite,
dickite, kaolinite
Sulphides: pyrite, marcasite, enargite,
covellite, Ag minerals, Te minerals
Native gold

13
KCD Drilling
37,860 metres of drilling in 169 drill holes
 KCD
Stratigraphy and mineralization
Hangingwall Andesite
Hangingwall Andesite
Volcanic Breccia
Volcanic Breccia
Reworked
ReworkedTuff
Tuff

Silver Zone
Carbonaceous Mudstone
Silver Zone Carbonaceous
Conglomerate
Mudstone
Conglomerate
Reworked Tuff
Au-Cu-Ag Reworked Tuff

Breccia Zone
Gold Zone

Lithic
Lithic Lapilli
Lapilli Tuff
Au-Cu Vein Zone Tuff

Au-Cu Stratiform Pyrite

PyriteNetwork
NetworkBreccia
Microbreccia
Vuggy Quartz Footwall
FootwallFault
FaultZone
Zone
Zone Welded
WeldedTuff
Tuff

Footwall Andesite
Footwall Andesite
KCD in Core

Breccia Vuggy Quartz Vein Silver

200m

SEM and photomicrographs with thanks to K. Ross (2013)

KCD 3D Strat & Geochem
Stratigraphy Silver

Gold Copper

Views facing WNW

KCD Cross Section
Silver
Zone Andesite flows

Gold Andesite
Breccia
Zone Fluvial-
Stratiform Lacustrine
vuggy silica Sequence
zone
Breccia
Au-Ag-
Cu Vein Au

Lapilli-bearing tuff

Legend

Andesite Breccia

Footwall
andesite &
welded tuff
 KCD Leapfrog Model Plan View

N
Gold controlled by
Rock type
WNW- and NS-striking breccia/fault zones
Footwall fault zone
Silver controlled by
Rock type
N to NNE-trending fault/breccia zones 250 m
Oxide Gold
Zone

Silver
Gold Zone Zone

150 m
Looking WNW
 KCD Leapfrog Model
Gold controlled by
Rock type
WNW- and NS-striking breccia/fault zones
Footwall fault zone

N-S and WNW

N-S Joint
intersections = high
WNW Joint set/breccia
grade breccia shoots
set/breccia zones
zones

Stratigraphic
Control
Low Angle
Fault Control
100 m 100 m

Looking WNW Looking oblique to N

 Resource Estimate
996,000 Indicated and 351,000 Inferred AuEq Ounces @ 0.5 g/t AuEq cut-off
Tonnes Au Ag Cu AuEq Metal (x103)
(x106) (g/t) (g/t) (%) (g/t) Au(oz) Ag(oz) Cu(lb)
Gold Zone Indicated 11.62 1.22 8.8 0.23 1.74 456 3,298 59,470
Inferred 1.70 0.85 8.5 0.15 1.23 46 464 5,591
Silver Zone Indicated 11.44 0.04 46.7 0.08 0.94 14 17,182 19,388
Inferred 9.08 0.02 52.7 0.05 0.97 6 15,367 9,292
Total Indicated 23.06 0.63 27.6 0.16 1.34 470 20,479 78,859
Inferred 10.77 0.15 45.7 0.06 1.01 53 15,831 14,883

Higher cut-off grades = higher average grades (a doubling of the cut-off grade only
removes 15% of the contained gold ounces and almost doubles average gold grade)
INDICATED INFERRED
Cut-off Tonnes Au Metal (x103) Tonnes Au Metal (x103)
(g/t AuEq) (x106) (g/t) Au(oz) (x106) (g/t) Au(oz)
0.5 11.62 1.22 456 1.70 0.9 46
1.0 6.02 2.03 393 0.74 1.5 35
1.5 3.84 2.75 340 0.39 2.1 26
2.0 2.68 3.42 295 0.25 2.6 20
Turkeys 3rd largest silver deposit
Mineral resources that are not mineral reserves do not have demonstrated economic viability. James N. Gray, P.Geo of Advantage Geoservices Ltd. is the Company's designated Qualified Person as defined by NI 43-101 for the KCD resource
estimate is independent of Pilot Gold and prepared the information that forms the basis for KCD resource. For more information, please refer to Pilot Golds news release titled Pilot Gold reports silver-rich maiden resource estimate for the KCD
deposit, TV Tower dated January 23, 2014 and filed to SEDAR at www.sedar.com. Further details of the estimation methods and procedures will be available in a NI 43-101 technical report, to be co-authored and released by SRK Consulting (Canada)
Inc. which will be filed on SEDAR, within 45 days from the date of the January 23, 2014 release. The Classified Mineral Resource estimate is quoted at a cut-off grade of 0.50 grams per tonne (g/t) gold equivalent (AuEq). At a 0.50 g/t AuEq cut-
off, the strip ratio is 1.47:1. Gold equivalence was calculated using a ratio of Au:Ag of $1200:$20, at 75% recovery and copper at $3/lb at 70% recovery.
Resource Estimate
 KCD Metallurgy
Hazen Research Inc. contracted to carry out initial
metallurgical test work on material from KCD
Scope of work included cyanide leach and flotation
tests on various ore types, and comminution testing
Initial program contained 132 variability composites,
and 16 master composites representing a range of rock
and ore types and degree of oxidation
Au is relatively well-behaved oxide amenable to
heap leaching; good recovery to concentrate
Ag more variable leaches but probably not amenable
to heap leaching; recovery to concentrate variable
 K2 Oxide Gold/Copper Trend
Key growth opportunity at TV Tower
4 km-long oxide HSE gold trend defined by geochemistry and drilling
Massive and vuggy quartz-altered volcaniclastic rocks (or ledges)
W-NW striking, steeply south-dipping, hematite-cemented breccia zones and
fractures (or ribs) host elevated gold grades
Underlain by extensive supergene copper zone; locally by Cu-Au porphyry
K2 Oxide Gold
0.80 g/t Au over 119.8 m,
inc. 2.00 g/t Au over 35.0 m

1.96 g/t Au over 33.1 m, inc.

3.42 g/t Au over 17.4 m

volcaniclastic host rocks

Cu-Au porphyry target

K2 Copper
0.30% Cu and 0.13 g/t Au
over 224.8 m inc. 0.59% Cu
and 0.18 g/t Au over 37.0 m

0.63% Cu over 41.7 m inc. 1.07%

1.29% Cu over 34.1 m, inc.
Cu and 0.10 g/t Au over 21.8 m
1.90% Cu over 20.8 m

Accompanying
Long Section

volcaniclastic host rocks

Cu-Au porphyry target

K2 in Core
 Kayal Leapfrog Model
Gold controlled by rock type and
Supergene
WNW-striking, steeply SSW-dipping Copper
N
breccia zones (ribs)
Underlain by supergene copper
blanket
200 m
Rib

Oxide

Transitional/
Sulphide Supergene
Copper
100 m
Looking WNW
 Karaay Leapfrog Model
Gold controlled by rock type and WNW-striking, steeply
SSW-dipping breccia zones (ribs)
Underlain by supergene copper blanket
Telescoped onto porphyry system
But wait, theres more!
Newly recognized mineralization types
Low Sulphidation Epithermal Au-Ag Columbaz -39 g/t Au, 294 ppm Ag grab sample
Massive, saccharoidal, chalcedonic,
colloform, ginguro quartz Kestanecik vein system
Preferred host andesite
Primary targets are Columbaz and
Kestanecik
Listwanite Au-Ag-Cu
Hosted in metamorphic basement rocks
schist and serpentinite
 2014: A Look Ahead
Definition and exploration drilling
K2 HSE gold oxide (Kayal definition
drilling, Karaay exploration)
Sarp
K2 Cu-Au porphyry (expand existing HSE
LSE

target, test new target at Karaay) Porphyry

Other

(Listwanite?)
Test new targets
Ongoing target generation and permitting
on property-wide potential
Expand metallurgical studies to include K2

Drop by our core shack display!