The Whistler Project An Emerging Gold-Copper Porphyry District

DISCOVERED.The Whistler ProjectAn Emerging Gold-Copper Porphyry DistrictMay 2013Jason Weber, P. Geo.President & CEO

Whistler LocationWhy Alaska?Richly endowed withprecious and basemetalsOver 150 millionounces of golddiscovered in last 25yearsUnder-explored, butstrong mining andresource developmenthistoryDonlin CreekPebbleLivengoodFort KnoxPogoWhistlerAnchorage4

Whistler Project, AlaskaAnchorageLooking SECamp and RunwayWhistler DepositRoad to Camp6

What is the Whistler Opportunity?Existing resource with positive development upside (high grade nearsurface core, low strip ratio, excellent metallurgy)Multiple discoveries with room for immediate growthUntested district-scale exploration opportunitiesWhistler All-Season Runway – Looking West Towards Muddy Creek7

Whistler 43-101 ResourceTonnes & GradeContained Metal (M)Resource CategoryTonnes(Mt)Au(g/t)Ag(g/t)Cu(%)Au eq.(g/t)Au(Moz)Ag(Moz)Cu(Mlb)Au eq.(Moz)Indicated (open-pit) 79.2 0.51 1.97 0.17 0.88 1.28 5.03 302 2.25Inferred (open-pit) 145.8 0.40 1.75 0.15 0.73 1.85 8.21 467 3.35Published revised resource in January2011.Based on 41 drill holes on only theWhistler Zone.Au eq. calculation: US$990/oz Au,US$15.40/oz Ag, US$2.91/lb Cu.0.30g/t Au eq. cutoff, 1.3 strip ratio,based on a 45 degree pit shell.Positive preliminary metallurgy: 92%Cu, 70% Au recoveries from opencircuit cleaner tests (25.4% Cuconcentrate, 79 g/t Au).Deposit comes to surface, open atdepthHigh grade “core” to depositSource: Mineral Resource Estimation Memo, Whistler Copper-Gold Project, Alaska Range, Alaska. January, 2011. Memo Prepared by Moose Mountain Technical Services Ltd. Final Report tobe filed on SEDAR in February 2011.9

Property GeologyThree “flagship” projects withinone property.Whistler/Island Mountain~75 Ma Whistler IntrusiveSuite (WIS) - diorite porphyryWhistler deposit hosted byWIS stock; other prospects(including Island Mountain)associated with WISstocks/dykesMuddy Creek65 Ma: Composite Suite (Mt.Estelle Intrusives)WhistlerCorridorIslandMountainMuddyCreek10

Growth PotentialFive additional porphyries discovered to dateExcellent potential to upgrade these to 43-101 compliantresourcesIs there potential to double the resource base? YES!Whistler Deposit Au-Cu Mineralization11

Exploration Potential–Case StudyPorphyry Clusters -DistributionFar Southeast (Gold Fields)Empirical observation that porphyry depositscluster and sizes follow a Power Lawdistribution:Majority of metal in one or two very bigdeposits, followed by many smallerdeposits (example from Northern Luzon,Philippines)“Missing” deposits: 51.4 Moz Gold Residual Endowment(>1MOz)Numerous known Epithermal Au deposits that likely haveporphyry rootsSanto Thomas (Philex)12

Exploration Potential-Case StudyWorst Case: Whistler is the Biggest Deposit inCluster11.4 Moz Au Eq Residual Endowment (>0.5 MOz)– additional to Whistler ResourceGrowth of existing prospects and new discoveriesAchieve robust economicsBetter Case: Whistler is not the Biggest Deposit in theCluster (strong geological argument)23.0 Moz Au Eq Residual Endowment (>0.5 MOz)– additional to Whistler ResourceMajor new discovery (+10 MOz) and growth ofprospectsVery significant upsideWhistler DepositNew Discovery (Dagwood?)*Whistler DepositRaintree West Deep*growthRaintree West Shallow*growthRaintree West Deep*Raintree West Shallow*Whistler Residual Endowment*For illustrative purposes only. Not meant to representa 43-101 compliant resource estimate.13

Growth PotentialThe Case Study says there’s more deposits to be delineatedat Whistler. Where are they?Potential Resource InventoryWhistler Orbit - Identified 5 new porphyry centres in three seasons(2009-2011).Round Mountain - 10km north, confirmed as a porphyry centre.Island Mountain – 22 km south, new porphyry centre, moved from areconnaissance prospect to bonafide deposit (no resource to date).Numerous drill-ready targets – the next discoveries?14

Growth Potential15

Immediate Growth PotentialWhistler OrbitNew porphyry centres, each with step-out growth potential5 porphyry occurrences in 5 km 2 ; 80 km 2 remains ofporphyry potentialArmed with good experience - based understanding andexploration modelExceptional geophysical database16

Whistler Orbit TargetsSnow RidgePuntillaRound MountainLooking NWWhistlerSpur TargetsLong Lake HillsRaintree WPuntilla Airstrip2.25 Moz Au Eq. indicated3.35 Moz Au Eq. inferred*RainmakerRaintree SRaintree NRaintree E167 m @ 0.47g/tAu, 0.17% Cu.WB Camp & Airstrip172 m @ 1.13 g/t Au, 0.18% Cu, 3.9g/t Ag within 453.2 m of 0.72 g/t Au,0.12% Cu, 3.2 g/t Ag90 m @ 0.42g/t Au, 1.3g/t Ag, 0.10% CuSkwentna RiverPortage Ck17* See slide 9 for details of NI43-101 resource estimateWinter Trail Access Route

Immediate Growth PotentialIsland Mountain – Another area for near-term growth22 kilometres south of Whistler Deposit250 x 300 x 300 metre gold-copper deposit outlined todate at Breccia Zone.• Grass roots discovery at end of 2009• Select results:• IM10-13 – 252 m of 0.71 g/t Au, 2.6 g/t Ag, 0.15% Cu• IM11-18 – 135 m of 0.73 g/t Au, 2.5 g/t Ag, 0.11% Cu• IM11-20 – 161 m of 1.00 g/t Au, 2.3 g/t Ag, 0.12% Cu• IM11-36 – 74 m of 0.98 g/t Au, 0.5 g/t Ag, 0.03% CuSystematic expansion to north will add resourcesPotential clustering of deposits around Breccia Zone• Very exciting prospects at The Howell and SC Zone18

Immediate Growth Potential19

Breccia Zone Expansion Potential39m of 0.6g/t AuFollow-up74m of 0.9g/t AuEq7m of 3.4g/t AuEnd of hole46m of 1.2g/t Au20

Island MountainThe Breccia Zone may be part of a cluster of porphyrydeposits at Island Mountain – potential for new discoveries.Howell ProspectSimilar, but much stronger, geochemical signature tobreccia zoneVery strong geophysical signaturePriority drill target21

Exciting New Island Mountain TargetsHowell ZoneBreccia ZoneCuIntense Magnetic High + intense Cu and Au geochem + surface exposures ofbreccia and monzonite defines Howell TargetNo dedicated exploration history at Howell - no drilling to dateAu22

New DiscoveriesPotential for new discoveries exists elsewhere on theWhistler PropertyDagwood Prospect, Whistler OrbitLarger geophysical signature than Whistler DepositMuddy CreekRound MountainSnow RidgeOld Man BrecciaMore deposits to be discovered at Whistler!23

Local SupportStrong relationship with local communities including neighbouringRainy Pass Lodge (RPL) - Alaska’s oldest hunting lodge.Kiska provides support for the RPL through:• Logistics – Coordinated/shared logistics, medical and safety support• Financial - Use the Rainy Pass Lodge facilities for tours, board meetingsand other functions• Community Events - Coordinate joint participation in activities aroundevents such as Iron Dog and Iditarod races.• Minimizing impact on RPL’s core business - Manage exploration to avoidactive areas during hunting season• Employment opportunitiesRainy Pass Lodge support forKiska:• Introductions to stakeholders• Positive public feedback to community,government• Key support for Kiska in early days24

Community InvolvementStrong relationship with local communitiesShared airstrip with Alaska’s oldest huntinglodgeSponsor of local community events• Iron Dog snowmobile race• Iditarod dogsled race – associated events• Iron Man, Alaska competition• Anchorage Rodeo• Youth soccer teams• Alaska Professional Hunters Association• R5Sons Alaska television showFund educational initiatives• “Work to learn” programs for Anchorage-area teachers• Educational site tours for stakeholders• Donor to UAA Economic Geology Chair, support twograduate students, hire UAA geology students.25

Responsible ExplorationCommitted to Best Practices for mineralexplorationRoad to WhistlerboneyardWhistler Ridge & deposit (with road). Camp and airstripCore logging facilitiesWhistler Camp “Whiskey Bravo”26

Kiska Corporate SummaryCapital StructureMajor ShareholdersSymbolKSK:TSX-VSharesOutstanding99.3 MillionOptions7.0 MillionFullyDiluted106.3 MillionMajor Shareholders30%- Geologic Resource PartnersCash(As of Dec. 31, 2012)$3.5 Million27

Management, Board of Directors andAdvisory BoardManagement TeamJason Weber, P.Geo., President and CEOChris Kerr, CGA, CFODavid Caulfield, P.Geo., VP of Business DevelopmentMark Baknes, P.Geo., VP of ExplorationBoard of DirectorsGeoff Chater, B.Sc.(Chairman)Bipin Ghelani, CAGeorge Ireland, B.S.John Kanellitsas, B.S.Jack Miller, M.Sc. P.Eng.Mark Selby, B.Comm.Jason Weber, P.Geo.Advisory BoardColin Barnett, Ph.D.,M.Sc., M.A., B.A.Henry Awmack, P.Eng.Robert Duncan, M.Sc., B.Sc.28

Investment HighlightsWhistler (100% owned) – An Emerging Gold-CopperPorphyry District in same geological belt as Pebblecopper-gold porphyry.Gold rich porphyry deposit, anchors district - 2.25M ozgold eq indicated, 3.35M oz gold eq inferred*.Robust exploration upside through exploration of existingprospects and potential for new gold-copper porphyrydiscoveries.Infrastructure options and mining-supportive Stateinitiatives to improve or enhance infrastructure.* See slide 9 for details of NI43-101 resource estimate29