ROYAL CANADIAN MINTGOLD AND SILVER INVESTMENT

OCTOBER, 2016

This presentation may contain forward-looking information within the meaning of applicable securities laws in Canada ("forward-looking information"). All forward-looking information is given pursuant to the safe harbour provisions of applicable Canadian securities legislation. The words "anticipates", "believes", "budgets", "could", "estimates", "expects", "forecasts", "intends", "may", "might", "plans", "projects", "schedule", "should", "will", "would" and similar expressions are often intended to identify forward-looking information, although not all forward-looking information contains these identifying words. The forward-looking information reflects management's current beliefs and is based on assumptions developed using information currently available to the Mint's management. Although the Mint believes that the forward-looking statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties. For additional information on risk factors that have the potential to affect the ETRs, the Canadian Gold Reserves and Canadian Silver Reserves programs or the Mint, reference should be made to the Information Statements, which may be obtained at reserves.mint.ca. Except as required by law, the Mint undertakes no obligation to revise or update any forward-looking information as a result of new information, future events or otherwise after the date hereof.

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Canadian Circulation

International Coinage & Services

Winnipeg

ROYAL CANADIAN MINT – BUSINESS LINES

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1.7 B coins to 15 countries

Eight customers in the Americas Two customers in Africa

Seven customers in Asia

Two customers in Australia

2016 CIRCULATION PRODUCTS AND SERVICES

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Numismatics

Bullion, Storage & Refining Solutions

ROYAL CANADIAN MINT – BUSINESS LINES

Ottawa

2017 GOLD MAPLE LEAF

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• The most secure gold 1oz. bullion coin in the world

• 99.99% Pure Gold

• Three layers of bulletproof security:

• Radial lines

• Micro laser engraved maple leaf with year of issue

• Bullion DNA Anti-counterfeiting technology.

• Precision cut radial lines create a shimmer effect unique to this coin

BULLION GOLD SALES VOLUME

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11 12 13 14 15 *16

1150.3

771.9

1137.2

709.2

954.1

433.3

1571.51669.0

1411.2

1266.41160.1

1220.3

Sales of gold bullion products (thousands of ounces)vs. Average price of gold (US$ per ounce)

Continued strong bullion sales* YTD P6

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Record silver bullion sales 3 years in a row

BULLION SILVER SALES VOLUME

11 12 13 14 15 *16

23,129 18,132

28,222 29,245 34,302

18,247

35.12

31.15

23.79

19.08

15.68 15.81

Sales of silver bullion products (thousands of ounces)vs. Average price of silver (US$ per ounce)

* YTD P6

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• Mine supply up slightly, current prices constraining projects• Scrap supply down for overall decrease in supply

REFINING MARKETGold Refining Deposits By Year (Millions Oz)

2008 2009 2010 2011 2012 2013 2014 2015 -

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

Rou

gh o

z

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EXCHANGE-TRADED GOLDTop 8 Exchange Traded Products

SOURCE: THOMSON REUTERS, AS OF AUGUST 31, 2016 IN MILLIONS OF OZ

0

10000000

20000000

30000000

40000000

50000000

60000000

70000000

80000000

12*Returns do not include dividends. S&P TSX 300 index 2.6%; S&P TSX Gold index 1.1% (weighted average yields as of August, 2015) Source: Sept 30, 2016 Thomson Reuters Eikon

LBMA GOLD VS S&P TSX VS GOLD MINERS

Gold PM FixS&P TSX 300 S&P TSX Gold

ValueCAD

Auto60

90

120

150

180

210

240

270

300

330

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 20172000 2010

Last 20 Years

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PHYSICAL GOLD INVESTMENT

Custody Of The Mint

TSX: MNT or MNT.U TSX: MNS or MNS.U

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INTRODUCING THE ETR PROGRAM

Secure Efficient Convenient

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SECURE

Crown Corporation

• Largest commercial mint in the world• Over 100 years of custodial and refining

experience• Has provided services to over 80

national governments• Crown corporation

• Obligations of the Mint constitute a direct unconditional obligation of Her Majesty in right of Canada

• Canada has a AAA credit rating

PHYSICAL BULLIONFUNDS

INVESTOR

Asset Manager

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BULLION FUTURES CONTRACT

INVESTOR

Counterparty

ETR

INVESTOR

Direct Beneficial Ownership

SECURE

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EFFICIENT

Low Total Cost

• For most investors, purchasing, storing and selling gold and silver is not easy and it may be expensive

• Because of its custodial and refinery role, the Mint can deliver a cost effective ETR Program

• All-in annual service fees to cover custody and all other costs of:

• 0.35% MNT/MNT.U & 0.45% MNS/MNS.U• ETR holders receive the same secure, quality and service as the

Mint’s institutional clients with the benefit of liquidity through a TSX listing

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CONVENIENT

Flexible Redemption Options

• Most investor-friendly overall redemption rights• Monthly redemption options for cash or newly cast purest

gold and silver RCM products*: • 99.99% Gold & Silver Maple Leaf Coins (1 oz); gold Kilo &

LGD bars• 99.9% Silver 100 oz & LGD bars• Optional service to sell the physically redeemed gold for an

additional fee of approx.13bps

* Redemption fees apply starting at US$1/oz for gold and US$0.25/oz for silver and increasing for smaller denomination products. An administration fee of C$100 applies to each redemption.

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MNT VS. NET ASSET VALUE

Sources: TMX Group, London Bullion Market Association, Bank of Canada

$10

$12

$14

$16

$18

$20

$22

MNT

Canadian Gold Reserves

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MNS VS. NET ASSET VALUE

Sources: TMX Group, London Bullion Market Association, Bank of Canada

$8

$10

$12

$14

$16

$18

$20

$22

$24MNS NAV (CAD)

Canadian Silver Reserves

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320 Sussex Drive, Ottawa, Ontario, Canada, K1A 0G8

CONTACT US

Steve Higgins

Director, Storage & Refining SolutionsRoyal Canadian MintTel: 613.993.9833Email: higgins@mint.careserves.mint.ca

Gold: MNT or MNT.U Silver: MNS or MNS.U