March 2, 2017

Report #2Gold in Québec, Ontario and British Columbia, Canada

Intact Gold starts drilling at historically high-grade Belleterre Project in QuébecToday, Intact Gold Corp. announced that drilling has started on its Belleterre Property, located 5 km east of the town of Belleterre in western Québec, Canada.

A total of 1,000 m are planned to be drilled in 9 holes in order to test for continuity of mineralization and follow up on promising exploration results by previous operators.

The first 3 holes target previously un-tested northeast trending gold-in-soil anomalies coincident with conductors and magnetic anomalies.

The next 4 holes are designed to test the extension of a gold-bearing structure drilled in 2010-2011 by Exploration Aurtois. Two

shafts were sunk on this structure in the 1940s and the area remains open along strike.

The last 2 holes are designed to step out 1996 and 1999 drilling which intersected gold bearing quartz veins along a northeast trending structure.

In April 2016, Intact Gold acquired the property, which is located within parts of a greenstone belt measuring 50 x 10 km.

The past producing high-grade Belleterre Gold Mine, located less than 2 km northwest of the Guillet Property, produced 2.2 million t averaging 10.7 g/t gold (735,000 ounces of gold).

Company Details

Intact Gold Corp.#800 – 1199 West Hastings Street Vancouver, B.C. V6E 3T5 CanadaPhone: +1 604 283 1755Email: info@intactgold.comwww.intactgold.com

Shares Issued & Outstanding: 48,824,588

Canadian Symbol (TSX.V): ITGCurrent Price: $0.065 CAD (03/01/2017)Market Capitalization: $3 million CAD

German Symbol / WKN: 1A5 / A2AD98 Current Price: €0.044 EUR (03/01/2017)Market Capitalization: €2 million EUR

Chart Canada (TSX.V)

Chart Germany (Frankfurt)

Picture of old drill core boxes on the Belleterre Property (source: Intact Gold Corp.)

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ntact Gold’s President & CEO, Anthony Jackson, commented as follows after acquiring the

property in 2016:

“Intact is excited to acquire an advanced gold asset such as the Guillet property. This acquisition falls in line with our current strategy of adding to our portfolio of advanced-stage projects.”

Accumulated work to date on the property exceeds $2.5 million and includes drilling of 567 holes totalling 65,800 m.

Previous work on the property dates back to 1934 and culminated with a bulk sample taken in 2005/2006 from the Lake Expanse Gold Zone returning 11,539 t of 3.28 g/t gold.

Selected grab samples returned up to 77 g/t gold.

In 2007, a resource estimate (now considered historic*) was calculated and results were as follows:

Measured and indicated (historic): 320,950 t of 2.62 g/t gold

Inferred (historic): 76,570 t of 2.31 g/t gold

In 2013, the previous operator completed conceptual modeling of potential exploitation pits.

The historic Belleterre Gold Mine, located 2 km northwest Guillet, produced 2.2 million t at 10.7 g/t gold (735,000 ounces of gold) and shows the potential of the area.

The Belleterre Project was previously referred to as the Belletere Extrême-Est, Guillet, and Ortona blocks covering an area of approximately 1,700 hectares.

Intact Gold also own the past producing, historically high-grade Sheep Creek Property in BC with around 75,000 ounces of gold in historic* resources.

In September 2016, Intact sampled its Blackjack Property in Ontario, returning up to 15 g/t gold. Blackjack produced a historical* bulk sample of 50 t averaging 10 g/t gold.

* These resource estimates are historical in nature. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources, and Intact Gold Corp. is not treating the historical estimates as current mineral resources. Readers are cautioned not to place undue reliance on this historic resource estimate.

Report #2 | Intact Gold Corp.

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Picture of the Belleterre Property in western Québec (source: Intact Gold Corp.)

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The Ortona Property

The Ortona Property is located in the Guillet township and comprises 17 claims covering an area of 272 hectares.

The property sits on the northwest border of the previous Belleterre Mine mining concession and 3 km northwest of the Guillet Property, which is 100% owned by Intact Gold.

The main known showing on the Ortona Property comprises a gold vein of a maximum width of 2.1 m and located along a shear zone. A section of this gold vein was sampled on 21 m and returned grades from 5.88 to 48.98 g/t gold (RP190-11). Other channel samplings returned grades between 2.18 to 78.9 g/t gold on widths between 0.3 and 0.7 m (GM 10617).

The Belleterre Extreme-Est Property

This property is located 3 km east of the town of Belleterre and 60 km east of Ville-Marie, Temiscamingue, Québec and is adjacent to Intact Gold’s 100% owned Guillet Property.

A resource estimate was performed in order to evaluate the gold potential of this project. The estimate resulted in 21,178 tons of ore indicated at 6.37 g/t gold and 33,465 tons of ore inferred at 5.47 g/t gold, for a total of 54,644 tons of ore at 5.77 g/t gold (source: NI43-101 Technical Report by Mr. Donald Théberge in May 2009).

Also, more recent work on the property identified a high-grade gold structure. This large structural discontinuity is marked by the presence of a quartz-carbonates veins mineralized fracture system similar to the well known Abitibi orogenic-type deposits like the Sigma and Lamaque Mines.

The best channel results returned 32.23 g/t gold over 2 m and 21.73 g/t gold over 0.91 m by drilling. (Rapport Géologique – Programme de forages 2002, R. Roy P.Geo, Janvier 2003). The mineralisation is located within a highly sheared corridor.

Previous Coverage

Report #1: “Intact Gold acquires historic high-grade gold project with 75,000 oz in British Columbia” (September 23, 2016)

Report #2 | Intact Gold Corp.

The red claim blocks represent the Belleterre Extreme-Est Property.

The mill at the historic Gold Hill Mine (Black-jack Project) ceased in1899 after a fire.

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About Intact Gold

Intact Gold Corp. is a junior mineral exploration company focused on increas-ing shareholder value through exploring and developing gold assets throughout Canada. The company’s primary focus on high-grade and advanced-stage gold projects within Canada and is led by a diversified team of professionals with combined backgrounds in finance, mining, acquisitions and exploration experience, including due diligence, management of production projects, open pits, mine development, permitting and planning. Currently, Intact Gold is in the process of reviewing potential property acquisitions and joint ventures.

Management & Directors

Anthony Jackson (CEO, President, Director) Mr. Jackson is a Principal of BridgeMark Financial Corp., which provides corpor-ate compliance, financial advisory, and financial reporting activities to public and private companies. Jackson also founded Jackson & Company, Chartered Account-ants assisting private and public companies in a variety of industries with full service accounting, and tax services. Prior to his time at BridgeMark, Jackson spent a num-ber of years working at Ernst & Young LLP and obtaining his CA designation before moving onto work as a senior analyst at a boutique investment banking firm. Jackson holds a Bachelor of Business Administration degree from Simon Fraser University, and the professional designation of Chartered Professional Accountant (CPA, CA), where he is a member of the B.C. and Canadian Institute of Chartered Professional Account-ants. Most recently, Jackson has had exten-sive experience as a Director and CFO of numerous publicly traded corporations.

Konstantine Lichtenwald (CFO)Mr. Lichtenwald specializes in providing cor-porate finance, valuation, taxation, financial reporting, consulting and other accounting services to both small businesses as well as public commodity resource companies. Mr. Lichtenwald also assists in many aspects of clients’ administration, financing and other activities. Mr. Lichtenwald also worked at Ernst & Young GmbH (Germany) in the assurance department. Mr. Lichtenwald

earned his bachelor of business adminis-tration degree from Pforzheim University, Germany, and holds the professional desig-nation of Chartered Professional Account-ant (CPA, CGA), where he is a member of Chartered Professional Accountants of B.C. and Canada. Mr. Lichtenwald has had exten-sive experience as a controller and CFO of numerous publicly traded and private corporations in several industries.

Greg Burns (Director)Mr. Burns has extensive skills in all areas of exploration geology, office-based management, data interpretation, project appraisal and acquisition. He has over 22 years of corporate and technical experience in mineral exploration, and has held executive board positions with several prominent exploration and mining companies in Canada and Australia.

Ken Tollstam (Director)Mr. Tollstam, CPA, CA has spent a num-ber of years at Deloitte Touche where he obtained his CA before going on to hold various Executive Management and Dir-ector of Finance positions throughout his career. Most recently Mr. Tollstam serves as director and chief financial officer of sev-eral private and publicly traded companies.

Richard Allan (Advisor)Mr. Allan is a mining engineer with over 35 years of experience in underground and open pit mining operations. Before retiring in 2013 he held the position of Vice President (Mali Operations) with Endeavour Mining/Avion Gold, based at the Tabakoto mining operation in Mali. Prior to that he was Chief Operating Officer for Brigus Gold where he was responsible for all operational, development and related capital activities, including overseeing operations at the Black Fox Mine and Mill in the Timmins Gold District and the advancement of the Goldfields Project in Saskatchewan. Mr. Allan was a Senior Director of Mining for Barrick Gold, with responsibility for operations support, technical governance, project development and mining research for Barrick’s global operations. His extensive experience includes past positions of increasing responsibility in mine development and operations, technical services and mine engineering. This experience also includes mine management, permitting, and Community/First Nations activities. Mr. Allan received his bachelor’s degree in mining with honours from Queen’s University, Ontario.

Report #2 | Intact Gold Corp.

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Disclaimer and Information on Forward Looking Statements:All statements in this report, other than statements of historical fact should be con-sidered forward-looking statements. Much of this report is comprised of statements of projection. Statements in this report that are forward looking include that Intact Gold Corp. or any other company or market will perform as expected; that Intact Gold Corp. will complete the announced transaction(s) or work programs; that Intact Gold Corp. or its partner(s) can and will start explor-ing or drilling; that the company can raise sufficient funds for a transaction, explora-tion and corporate matters; that any of the mentioned plans, comparisons with other companies, regions or numbers are valid or economic. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those antici-pated in these forward-looking statements. Risks and uncertainties respecting gold and resource companies are generally disclosed in the annual financial or other filing docu-ments of Intact Gold Corp. and similar com-panies as filed with the relevant securities commissions, and should be reviewed by any reader of this report. In addition, with respect to Intact Gold Corp., a number of risks relate to any statement of projection or forward statements, including among other risks: the receipt of all necessary approvals and permits; the ability to conclude a trans-action and to start or continue exploration; uncertainty of future market regulations, capital expenditures and other costs; finan-cings and additional capital requirements for exploration, development, or corporate matters; the receipt in a timely fashion of further permitting for its legislative, polit-ical, social or economic developments in the jurisdictions in which Intact Gold Corp. carries on business; operating or technical difficulties in connection with production or development activities; the ability to keep key employees, joint-venture partner(s), and operations financed. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Rock-stone and the author of this report do not undertake any obligation to update any statements made in this report.

Disclosure of Interest and Advisory Cautions: Nothing in this report should be construed as a solicitation to buy or sell any securities mentioned. Rockstone, its owners and the author of this report are not registered broker-dealers or financial advisors. Before investing in any securities, you should consult with your financial advisor and a registered broker-dealer. Never make an investment based solely on what you read in an online or printed report, including Rockstone’s report, especially if the investment involves a small, thinly-traded company that isn’t well known. The author of this report is paid by Zimtu Capital Corp., a TSX Venture Exchange listed investment company. Part of the author’s responsibilities at Zimtu Capital Corp. is to research and report on companies in which Zimtu Capital Corp. has an investment. So while the author of this report is not paid directly by Intact Gold Corp., the author’s employer Zimtu Capital Corp. will benefit from appreciation of Intact Gold Corp.’s stock price. The author does NOT own shares or other kinds of securities or interest of Intact Gold Corp., however he holds shares of Zimtu Capital Corp., and thus would also benefit from volume and price appreciation of its stocks. Hence, multiple conflicts of interests exist. Therefore, the information provided herewithin should not be construed as a financial analysis or recommendation but as advertisement. The author’s views and opinions regarding the companies featured in reports are his own views and are based on information that he has researched independently and has received, which the author assumes to be reliable. Rockstone and the author of this report do not guarantee the accuracy, completeness, or usefulness of any content of this report, nor its fitness for any particular purpose. Intact Gold Corp. has not reviewed the content of this report prior to publication. Lastly, the author does not guarantee that any of the companies mentioned in the reports will perform as expected, and any comparisons made to other companies may not be valid or come into effect. Please read the entire Disclaimer carefully. If you do not agree to all of the Disclaimer, do not access this website or any of its pages including this report in form of a PDF. By using this website and/or report, and whether or not you actually read the Disclaimer, you are deemed to have accepted it. Information provided is educational and general in nature.

Author Profile and Contact

Stephan Bogner (Dipl. Kfm. FH)Rockstone Research 8050 Zurich, Switzerland+41-44-5862323sb@rockstone-research.com

Stephan Bogner studied at the International School of Management (Dortmund, Germany), the European Business School (London) and the University of Queensland

(Brisbane, Australia).

Under supervision of Prof. Dr. Hans J. Bocker, Stephan completed his diploma thesis (“Gold In A Macroeconomic Context With Special Consideration Of The Price Formation Process”) in 2002. A year later, he marketed and translated into German Ferdinand Lips‘ bestseller („Gold Wars“). After working in Dubai for 5 years, he now lives in Switzerland and is the CEO of Elementum International AG specialized in duty-free storage of gold and silver bullion in a high-security vaulting facility within the St. Gotthard Mountain Massif in central Switzerland.

Rockstone is specialized in capital markets and publicly listed companies. The focus is set on exploration, development, and production of resource deposits.

Through the publication of general geological basic knowledge, the individual reports receive a background in order for the reader to be inspired to conduct further due diligence. All reports are made accessible free of charge, whereas it is always to be construed as non-binding educational research and is addressed solely to a readership that is knowledgeable about the risks, experienced with stock markets, and acting on one’s own responsibility.

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Report #2 | Intact Gold Corp.