TSX, NYSE MKT: LSG

Lake Shore Gold TSX: LSG

NYSE MKT: LSG

1

L A K E S H O R E G O L D C O R P.

Marketing Presentation

July 2015

2

Information included in this presentation relating to the Company's expected production levels, production growth, costs, cash flows, economic returns, exploration

activities, potential for increasing resources, project expenditures and business plans are "forward-looking statements" or "forward-looking information" within the meaning

of certain securities laws, including under the provisions of Canadian provincial securities laws and under the United States Private Securities Litigation Reform Act of

1995 and are referred to herein as "forward-looking statements." The Company does not intend, and does not assume any obligation, to update these forward-looking

statements. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable,

including that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts, labour disturbances, interruption in

transportation or utilities, or adverse weather conditions, that there are no material unanticipated variations in budgeted costs, that contractors will complete projects

according to schedule, and that actual mineralization on properties will be consistent with models and will not be less than identified mineral reserves. The Company

makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Forward-looking statements involve

known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different

from any future results, performance or achievements expressed or implied by the forward-looking statements. In particular, delays in development or mining and

fluctuations in the price of gold or in currency markets could prevent the Company from achieving its targets. Readers should not place undue reliance on forward-looking

statements. More information about risks and uncertainties affecting the Company and its business is available in the Company's most recent Annual Information Form

and other regulatory filings with the Canadian Securities Administrators, which are posted on sedar at www.sedar.com, or the Company’s most recent Annual Report on

Form 40-F and other regulatory filings with the Securities and Exchange Commission.

QUALITY CONTROL

Lake Shore Gold has a quality control program to ensure best practices in the sampling and analysis of drill core. A total of three Quality Control samples consisting of 1

blank, 1 certified standard and 1 reject duplicate are inserted into groups of 20 drill core samples. The blanks and the certified standards are checked to be within

acceptable limits prior to being accepted into the GEMS SQL database. Routine assays have been completed using a standard fire assay with a 30-gram aliquot. For

samples that return a value greater than three grams per tonne gold on exploration projects and greater than 10 gpt at the Timmins mine and Thunder Creek underground

project, the remaining pulp is taken and fire assayed with a gravimetric finish. Select zones with visible gold are typically tested by pulp metallic analysis on some projects.

NQ size drill core is saw cut and half the drill core is sampled in standard intervals. The remaining half of the core is stored in a secure location. The drill core is

transported in security-sealed bags for preparation at ALS Chemex Prep Lab located in Timmins, Ontario, and the pulps shipped to ALS Chemex Assay Laboratory in

Vancouver, B.C. ALS Chemex is an ISO 9001-2000 registered laboratory preparing for ISO 17025 certification.

QUALIFIED PERSON

Scientific and technical information related to mine production and reserves contained in this presentation has been reviewed and approved by Natasha Vaz, P.Eng., Vice-

President, Technical Services, who is an employee of Lake Shore Gold Corp., and a “qualified person” as defined by National Instrument 43-101 – Standards of

Disclosure for Mineral Projects (“NI 43-101”).

Scientific and technical information related to resources, drilling and all matters involving mine production geology, as well as exploration drilling, contained in this

presentation, or source material for this presentation, was reviewed and approved by Eric Kallio, P.Geo., Senior Vice-President, Exploration. Mr. Kallio is an employee of

Lake Shore Gold Corp., and is a “qualified person” as defined by NI 43-101.

Forward-Looking Statements

3

Two producing mines and a central mill in

Timmins, Ontario, Canada • Timmins West Mine

• Bell Creek Mine & Mill

Large land position in right geology

Strong organic growth

• Large resource base, exploration upside

LSG: Low-Cost Canadian Gold Producer

Timmins, Ontario

Over 70M ozs Au of

mined resources to date

Favourable geology

Supportive government

Part of Abitibi

Greenstone Belt

Timmins

Canada

4

40.050.060.070.080.090.0

100.0110.0120.0

Lake Shore Gold Gold Miners ETF (GDX)

Junior Gold Miners ETF (GDXJ) Spot Gold

LSG: Current Capital Structure

Lake Shore Gold (TSX, NYSE MKT: LSG)

Shares O/S (Basic) 436,400,000

Price (July16/15) $1.21

Market Cap. $528,044,000

52 Week High/Low $1.40/$0.70

3M av. Daily Volume 2,600,000

Largest Shareholder Van Eck (GDXJ) – 7%

Analyst Coverage

Scotiabank

CIBC World Markets

Haywood Securities

TD Securities

RBC World Markets

National Bank Fin.

BMO Capital Markets

PI Financial

M Partners

Mackie Research

$82M in cash & bullion (July 8/15)

$103.5 million convertible debenture

• 6.25% coupon, due Sept. 2017

• Convertible at $1.40/share

• TSX: LSG.DB – $109.00 at July 16/15

102

53

98

62

%

5

Low-Cost Production

First Half 2015 production: 95,600 oz • Full-year 2015 guidance raised to >180,000 oz

H1/15(1) cash cost(2)(3): US$551/oz, AISC:(2)(3)(4) US$810/oz

• 2015 guidance improved to <US$650/oz and <US$950/oz, respectively

(1) Refers to first half of 2015

(2) Non-GAAP measure, see Slide 22 for more information

(3) Preliminary estimates

(4) Refers to all-in sustaining costs

6

Cash and Cash Flow

50-Tonne Truck at

Timmins West Mine

Cash(1) increased @ $20.0M YTD in 2015 – currently $82M

Business generated $52M of cash in 2014

• Cash increased $27M ($45M of debt repayments, $20M of financings)

Operating cash flows(2) in 2014: $111.3M, $35.9M in Q1/15

(1) Refers to cash and bullion

(2) Refers to cash flows from continuing operating activities

7

Growth

29% increase in ore reserves announced in March 2015

144 Project – Two gold discoveries in eight months

• 2015 exploration program: 180,000 m drilling, 1,200 m exploration drift

Bell Creek – Large resource base • New U/G exploration program: 32,500 m drilling, 800 m development

8

Probable Reserves(1) Tonnes Au Grade (g/t) Contained Ounces

Timmins West Mine 3,691,000 4.3 509,700

Bell Creek Mine 1,792,000 4.6 263,600

Total 5,483,000 4.4 773,300

Measured & Indicated(2) Tonnes Au Grade (g/t) Contained Ounces

Timmins West Mine 4,539,000 4.8 695,000

Gold River 690,000 5.3 117,000

Bell Creek Mine 4,904,000 4.4 687,000

Vogel 1,860,000 1.64(3) 98,000

Marlhill 395,000 4.5 57,000

Fenn Gib 40,800,000 0.99(3) 1,300,000

Total 2,954,000

Inferred Tonnes Au Grade (g/t) Contained Ounces

Timmins West Mine 1,631,000 5.0 260,000

Gold River 5,273,000 6.1 1,028,000

Bell Creek Mine 4,399,000 4.8 685,000

Vogel 900,000 4.15 120,000

Fenn-Gib 24,500,000 0.95(3) 750,000

Total 2,843,000 (1) Reserves as at December 31,2014 and calculated using average price of US$1,100/oz (2) Resources are inclusive of reserves (3) Open-pit resources. See press release dated March 12, 2015

for details of assumptions and estimates used in reserve and resource calculations for Timmins West Mine and Bell Creek Mine. See www.lsgold.com for estimates and assumptions relating to resources at other properties

Reserves & Resources

9

Dome

Hollinger

McIntyre

Hoyle

Pond Porcupine

Destor

Fault Pamour

City of Timmins

Timmins West Complex - Timmins West Mine

- 144 Exploration Area

- Gold River Project

Favourable Land Positions in Timmins Gold Camp

Bell Creek Complex - Bell Creek Mine & Mill

- Vogel, Marlhill, Wetmore

Fenn-Gib

Three Multi-Million Ounce Gold Complexes

10

Timmins West Complex

Potential for Multiple Gold Deposits

Timmins West Mine

144 Gap Zone Discovery (Within 500 m of Thunder Creek)

Near-Term Exploration

Targets

Gold River Trend

TC–144 Trend

Gold River Project M&I: 690k tonnes @ 5.3 gpt (117k oz)

Inferred: 5.3M tonnes at 6.1 gpt (1.0M oz)

Timmins

Deposit

Thunder

Creek

144

North

144 South

144 Gap SW Zone Discovery (Within 200 m of 144 Gap Zone)

144 Gap

11

Timmins West Mine

A New Mine in a Proven Gold Camp

H1/15 production

• 75,000 oz

• 482,900 tonnes at grade of 5.0 gpt

Reserves updated (Dec. 31/14)(1)

• 509,700 oz (3.7M tonnes at 4.3 gpt)

• Replaced reserves mined in 2014

(1) See press release dated March 12, 2015 for more information about reserves and resources

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

2012 2013 2014

64,000

110,000

142,200(Ounces)

Production

Timmins Deposit Thunder Creek

270 Access Level

730 Access Level

260 Level

525 Level

650 Level

12

144 Gap Two Discoveries in Eight Months – Potential for More

Timmins Deposit Thunder Creek 144 GAP Zone

Shaft

Planned drift

Existing infrastructure

144 GAP SW Zone

400m 200m 125m

Current progress – Drift

13

144 Gap Zone 400M Along Strike, 400M Vertically with Large High-Grade Core

HWY-15-88

9.24gpt/3.7m

3.39gpt/15.9m

HWY-15-83

5.00gpt/4.4m

8.83gpt/6.1m

HWY-15-89

5.40gpt/12.9m

3.36gpt/5.5m

4.02gpt/5.6m

HWY-15-48W2

5.74gpt/55.0m

Incl. 11.79gpt/21.1m HWY-15-106

8.81gpt/8.20m

15.95gpt/4.9m

5.09gpt/17.5m

HWY-15-87W1

7.94gpt/8.6m

4.70gpt/6.6m

3.14gpt/45.3m

HWY-15-87

3.63gpt/14.5m

30.91gpt/2.3m

7.74gpt/4.0m

3.11gpt/31/0m

Incl. 6.23gpt/11.2m

HWY-15-52W2

3.28gpt/44.0m

8.14gpt/15.1m

Incl. 20.08gpt/3.6m

HWY-14-48

5.37gpt/46.00m

4.06gpt/5.10m

5.76gpt/1.20m

THUNDER

CREEK

DEPOSIT

400m

Planned Exploration Drift

Existing Infrastructure

Current progress – Drift

14

400m 200m 125m

Thunder Creek 144 GAP 144 GAP SW

HWY-15-116

3.30/40.8m

Incl. 6.12/9.5m

Incl. 4.16/6.8m

Incl. 5.18/2.90m

HWY-15-125

3.22/14.7m

HWY-15-123

3.73/10.2m

HWY-15-126

6.24/3/3.3m

6.40/1.20m

HWY-15-127

6.02/1.5m

13.87/16.5

3.15/11.4m

HWY-14-48

5.37gpt/46.00m

4.06gpt/5.10m

5.76gpt/1.20m

HWY-15-78W1

6.75/2.50m

2.78/17.1m

HWY-15-58W1

5.43/4.5m

5.06/3.2m

HWY-15-134

5.92/7.0m

10.14/2.10m

3.37/3.5m

3.74/12.6m

4.12/3.50m

HWY-15-128

3.29/6.0m

5.38/6.5m

144 Gap SW Zone Second Zone Discovered 200M from 144 Gap Zone

15

$25.0M exploration

program in 2015 • 140,000 m surface drilling

• 40,000 U/G drilling

• Exploration drift into 144

Gap Zone (725 m of

1,200 m completed)

• New surface geophysical

program SW of 144 Gap

& western ext. Gold River

Key Objectives

First resource 144 Gap

Zone early in ‘16

Evaluate potential for

multiple gold deposits

along 144 Trend

144 Gap Targeting First Resource at 144 Gap Zone for Year-End 2015 (Released in Q1/16)

16

600 L

750 L

1,050 L

1,200 L

Bell Creek Mine Marlhill

Vogel

Hoyle Pond Mine

Wetmore 900 L

Open

Bell Creek Complex

Whitney

Project

17

Bell Creek Mine

H1/15

• 20,900 oz (10,600 oz in Q2/15)

• 144,100 tonnes processed at 4.6 gpt

More than doubled reserves in ‘14 update(1)

• 263,600 oz (1.8M tonnes at 4.6 gpt)

Bell Creek Mine Shaft

Deep

Zone

Potential

shaft

extension

0

10,000

20,000

30,000

40,000

50,000

2012 2013 2014

22,50027,500

43,400(Ounces)

Production

(1) See press release dated March 12, 2015 for more information about reserves and resources

18

Reserves

P&P(1): 1,792,000 tonnes @ 4.6 gpt 263,600 oz

Resources

M&I(2): 4,904,000 @ 4.29 gpt 687,000oz

Inferred: 4,399,000 @ 4.84 gpt 685,000ozs

Area 2014 Drilling

Bell Creek Mine

(1) Proven & probable

(2) Measured and Indicated resources inclusive of reserves

850 Level

1165 Level

1700 Level

Area of 2015 Production

LSG Mined Areas

Historic Production

19

Bell Creek Mine

2015 MR/MR(1) Conversion Plan

775 L

925 L

1050 L

1250 L

Phase 2

Phase 3

Phase 1

(1) Mining Resource/Mining Reserve

Measured

Indicated

Inferred

20

LSG: Low-Cost Production, Cash Flow, Growth

Low-Cost Production(1) • Production of >180,000 oz • Low costs in 2015

• Cash operating costs <US$650/oz

• All-in sustaining costs <US$950 /oz

Cash & Cash Flow • Generating free cash flow

• Cash increased @ $20M YTD in 2015 • Senior, secured debt repaid

• Investing/spending aggressively to support growth

Growth(1) • Large resource base supports long-term mining

• Replace reserves mined

• Explore new 144 discoveries, other targets • First resource at 144 Gap in early 2016

(1) Contains Forward-looking Information

21 21

APPENDIX

22

Cash Operating Costs per Ounce

Cash operating cost per ounce is a Non-GAAP measure. In the gold mining industry, cash operating cost per ounce is a common

performance measure but does not have any standardized meaning. Cash operating costs per ounce are based on ounces sold

and are derived from amounts included in the Consolidated Statements of Comprehensive Loss (Income) and include mine site

operating costs such as mining, processing and administration, but exclude depreciation, depletion and share-based payment

expenses and reclamation costs. The Company discloses cash cost per ounce as it believes this measure provides valuable

assistance to investors and analysts in evaluating the Company’s performance and ability to generate cash flow. This measure

should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP such as total production

costs. A reconciliation of cash operating costs and cash operating cost per ounce to total production costs for the years ended

December 31, 2014 and 2013 is set out on page 19 of the Company’s 2014 and fourth quarter of 2014 Management Discussion & Analysis (“MD&A”). A reconciliation of cash operating costs and cash operating cost per ounce to total production costs for the

three months ended March 31, 2015 is set out on page 16 of the Company’s first quarter 2015 MD&A.

All-In Sustaining Costs per Ounce

Effective the second quarter 2013, the Company has adopted a total all-in sustaining cost (“AISC”) performance measure. AISC

is a Non-GAAP measure. The measure is intended to assist readers in evaluating the total costs of producing gold from current

operations. While there is no standardized meaning across the industry for this measure, the Company’s definition conforms to

the AISC definition as set out by the World Gold Council in its guidance note dated June 27, 2013. The Company defines all-in

sustaining cost as the sum of cash costs from mine operations, sustaining capital (capital required to maintain current operations

at existing levels), corporate general and administrative expenses, in-mine exploration expenses and reclamation cost accretion

related to current operations. All-in sustaining cost excludes growth capital, reclamation cost accretion not related to current

operations and interest and other financing costs. A reconciliation of all-in sustaining costs and all-in sustaining cost per ounce to

total production costs for the years ended December 31, 2014 and 2013 is set out on page 20 of the Company’s 2014 and fourth quarter 2014 MD&A. A reconciliation of cash operating costs and cash operating cost per ounce to total production costs for the

three months ended March 31, 2015 is set out on page 17 of the Company’s first quarter 2015 MD&A.

Non-GAAP Measures(1)

(1) The Company’s MDA”s for the full year and fourth quarter of 2014 and first quarter of 2015 are posted at www.sedar.com and on the Company’s website at www.lsgold.com.

23

Holloway

St. Andrew

Holt

St. Andrew

Hislop

St. Andrew

Hoyle Pond

Goldcorp

Pamour

Goldcorp

Kirkland Lake Gold Mine

Kirkland Lake Gold

Canadian

Malartic

Osisko

Goldex

Agnico-Eagle

Lac-Herbin

Alexis

Lapa

Agnico-Eagle

Bousquet-LaRonde

Agnico-Eagle

Doyon, Westwood

IAMGOLD

Kirkland Lake

47 Moz

Rouyn-

Noranda

19 Moz

Cadillac

18 Moz

Malartic

9 Moz

Val d’Or

18 Moz Larder Lake-Cadillac

Fault Zone

Destor-Porcupine

Fault Zone

Ontario Quebec

Upper Beaver

Osisko

McGarry

Armistice

Dome Mine

Goldcorp

City of Timmins

71 Moz

Matheson

Black Fox

Brigus

South Claims

Kirkland Lake Gold

Taylor

St. Andrew

Young-Davidson

AuRico

ON

QC

Timmins

Other Mines

Town

Goldcorp Porcupine Assets

Lake Shore Gold Assets

20km

Aquarius

St. Andrew

23

Location Map

Timmins West

Complex Paymaster

Goldcorp

24

2012 2013 2014 2015

85,700

134,600

160,000

180,000 >180,000

185,600 (Actual)

Production Ramp Up Complete

Record production of 185,600 in 2014

• 38% growth from 2013

• Beat guidance of 160,000 to 180,000 oz

Three consecutive years of meeting or beating guidance

38% Guidance

Guidance

(1) Contains Forward-looking Information

57%

25

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2012 2013 2014 2015

1,813

1,139

872

<950 950

1,050

All-In Sustaining Costs(1)(2) (US$/oz)

0

100

200

300

400

500

600

700

800

900

1,000

2012 2013 2014 2015

966

766

592

<650

Total Cash Costs(1)(2) (US$/oz)

Low Unit Costs

(1) Contains Forward-looking Information

(2) Example of Non-GAAP Measure

Guidance

Guidance

Guidance Guidance 2014 AISC 8% better than target

range, 23% improvement from

2013

Total cash costs in 2014 12%

better than target range, 22%

improvement from 2013

775

675

26

0

10

20

30

40

50

60

70

80

90

Q3/13 Q4/13 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 July 8/15

15

34 39

53

67 62

77 82

Change in Cash & Bullion ($ Millions)

Strong Growth in Cash Position

Cash & Bullion of Approx. $82 million at July 8/15

$67M Growth Since Completing Mill Expansion

Reduction in Q4/14 reflected early repayment of standby line

27

Senior Secured Debt Fully Repaid

Repaid $52.0 million of debt since beginning of 2014

• $30 million related to standby line (fully repaid as of Dec. 31/14)

• $22 million to gold-linked note (fully repaid as of May 6, 2015)

0

10

20

30

40

50

60

70

61

52 49

35 31

7 3 0

Senior Secured Debt ($ Millions)

Senior Secured Debt Fully Repaid as of May 29, 2015

28

2014 Financial Highlights

$ Millions unless otherwise stated 2014 2013 % Change

Ounces sold 183,300 135,600 35

Average price (US$/oz) 1,269 1,377 (8)

Average price ($/oz) 1,398 1,422 (2)

Revenues 256.1 192.6 33

Production costs 120.3 107.5 12

Earnings from mine operations 64.1 (200.0) N/A

Net earnings (loss) 23.6 (233.5) N/A

Cash flows from operating activities 111.3 70.6 58

29

Q1/15 Financial Highlights

$ Millions unless otherwise stated Q1/15 Q1/14 % Change

Ounces sold 52,600 43,000 22

Average price (US$/oz) 1,219 1,294 (5)

Average price ($/oz) 1,504 1,430 5

Revenues 79.1 61.5 29

Production costs 33.4 26.7 25

Earnings from mine operations 23.3 14.3 63

Net earnings (loss) 12.1 4.6 63

Cash flows from operating activities 35.9 24.9 44

30

Equity $ Millions

Share capital 1,034

Equity portion of convertible debentures 15

Reserves 32

Deficit (597)

Total Equity 484

Balance Sheet – March 31, 2015

Assets $ Millions

Cash and cash equivalents 71

Other current assets 30

Total current assets 101

Non-current assets 527

Total Assets 628

Liabilities $ Millions

Accounts payable & accrued liabilities 28

Current portion of long-term debt (incl. lease obligations) 9

Other current liabilities 3

Total current liabilities 40

Long-term debt 89

Other non-current liabilities 15

Total non-current liabilities 104

Total Liabilities 144

31

Timmins Deposit Long Section Mining Methods:

• Sill development

• Longitudinal longhole stoping

Dip: 50 – 85 degrees

Strike length: 14 – 48 m

Width: 5 – 20 m

Mining primarily in UM (5, 6, 7)

and FW zones

Mining horizons: 770L – 930L

for longhole and sill

development

Mining recovery estimates: 95%

Timmins West Mine – Timmins Deposit

750 Level

770 Level

790 Level

810 Level

830 Level

850 Level

870 Level

890 Level

910 Level

930 Level

950 Level

970 Level

990 Level

1010 Level Q1/15

Q2 – Q4/15

Post 2015

Pre 2015

32

Highlights of Production Plan - TC

Mining Methods:

• Sill Development

• Transverse Longhole stoping in

Porphyry

• Longitudinal Longhole stoping in Rusk

Dip: 60 – 70

Strike length: 10 to 35 m in Porphyry

Zone, 15 – 30 m in Rusk

Width: 10 – 15 m in Porphyry, 5 – 22 m

in Rusk

Mining horizons: 555L – 695L for

longhole and 485L to 785L for sill

development

Mining recovery estimates: 95%

Thunder Creek Long Section

Timmins West Mine – Thunder Creek

415 Level

450 Level

485 Level

520 Level

555 Level

590 Level

625 Level

660 Level

695 Level

730 Level

765 Level

785 Level

820 Level

33

Highlights of Production Plan - BC

Mining Methods:

• Sill development

• Longhole stoping

Dip: 72 degrees

Strike length: Avg. 20 m

Width: Avg. 3 m

Mining primarily the NA, NA2,

NA4 and NB2/NB3 zones

Mining horizons: 460L – 850L

for longhole and 445L – 880L

for sill development

Mining recovery estimates:

95%

Bell Creek Long Section

Bell Creek Mine

685 Level

700 Level

715 Level

730 Level

745 Level

760 Level

775 Level

790 Level

805 Level

820 Level

840 Level

860 Level

875 Level

895 Level

915 Level

930 Level

Q1/15

Q2 – Q4/15

Post 2015

Pre 2015

34

Anthony P. Makuch

President & CEO

Peter Van Alphen

VP, Operations

P. Eng./MBA with 30 years experience; formerly SVP & COO, FNX

Mining Co. and V.P. Operations, Dynatec Corp. Native of Timmins with

extensive experience working in Camp.

20 years mining experience; formerly VP & GM, Canadian Operations,

DMC Mining, and Project/Mine Manager, Quadra FNX. Bachelor of

Science (Eng.) degree from University of Witwatersrand, South Africa.

Phil Yee

SVP & CFO

CPA & CA with 25 years experience ,most recently as CFO, Patagonia

Gold Plc. Also served as Director, Finance, Centerra Gold and VP, Finance

for Centerra’s Kumtor Gold Mine.

Eric Kallio

SVP, Exploration

P. Geo. with 30 years experience; formerly VP, Exploration, Patricia

Mining, Exploration Manager, Canadian Shield, Kinross and Chief

Geologist for Placer Dome’s Dome Mine in Timmins.

Mark Utting

VP, Investor Relations

CFA with over 25 years experience; mining experience as Director, IR for

Dynatec, Rio Algom and Sherritt Int’l; also, IR and media experience with

RBC, BMO, Extendicare, Loewen Group.

Natasha Vaz

VP, Technical Services

P. Eng/MBA with over 10 years experience; held variety of engineering,

operations and management positions with Dynatec Corp. Also work for

Goldcorp.

Experienced Management Team

35

Alan Moon

Chairman

Frank Hallam

Director

Professional Engineer & MBA; former senior executive with significant

business experience, both internationally and domestically; brings to

LSG strong and diversified business background.

Chartered Accountant with extensive experience in mining sector;

currently CFO of MAG Silver Corp and Director & CFO of Platinum

Group Metals Ltd.

Ingrid Hibbard

Director

Lawyer with >25 years experience in mining industry; currently

President, Chief Executive Officer & Director of Pelangio Exploration

Inc.; also Director, Detour Gold Corp.

Arnold Klassen

Director

Chartered Accountant and Certified Public Accountant with >30 years

experience in accounting, audit and tax, including 23 years in mining

industry; former V.P. Finance, Dynatec Corp.

Diane Francis

Director

Award-winning columnist, journalist, bestselling author, broadcaster

and entrepreneur; Editor-at-Large at National Post Newspaper; former

director, Aurizon Mines Ltd.

Jon Gill

Director

Professional Engineer with 45 years mining experience, much of it in

senior mine management roles for Inco Limited in its Ontario and

Manitoba divisions and for PT Inco in Indonesia.

Experienced Board of Directors(1)

36

Temex – Proposed Transaction

Whitney Project – In-Market Acquisition

Whitney Project – Resources(1)

Category Tonnes Grade (gpt) Ounces

Measured 970,000 7.02 218,100

Indicated 2,300,000 6.77 490,500

Inferred 1,000,000 5.34 170,700

Proposed Transaction

- LSG proposes to pay 0.105 LSG share

per Temex Share

- Proposal values Temex at $0.13/share

- LSG to issue @ 20.0M shares, <5% of

shares outstanding

- Oban Mining Corp. has 10 days to

amend existing acquisition agreement

with Temex (to July 30, 2015)

(1) Lake Shore Gold has not verified the mineral

resources disclosed in the technical reports for

either the Whitney Project. To the best of Lake

Shore Gold’s knowledge, information, and belief,

there is no new material scientific or technical

information that would make the disclosure of the

mineral resources inaccurate or misleading.

37

Temex – Juby Project

Juby Project – Resources(1)

Category Tonnes Grade (gpt) Ounces

Indicated 26,600,000 1.28 1,090,400

Inferred 96,200,000 0.94 2,908,800

(1) Lake Shore Gold has not verified the mineral resources disclosed in the technical reports for either the Juby Gold

Project. To the best of Lake Shore Gold’s knowledge, information, and belief, there is no new material scientific or

technical information that would make the disclosure of the mineral resources inaccurate or misleading.