THE STLLR LETTER FOR JULY....Sent to subscribers today by email so check your email: THE STLLR LETTER: JULY 2024 THE STLLR ADVANTAGE. 2 Cornerstone Canadian Gold Projects Capable of Large-Scale Production 18 Million Ounces in Mineral Resources Attractive Valuation on an Enterprise Value Per Ounce basis Strong Balance Sheet Team with Mine Building, Operations, Finance & M&A Experience STLLR NEWS June 13, 2024: STLLR Gold Intersects 1.97 g/t Au over 41.5 m at the Colomac Main Deposit and Wide Zones of Mineralization Near Windjammer Central June 26, 2024: STLLR Gold Intersects 1.23 g/t Au over 59.00 m at the Colomac Main Deposit and New Zones of Mineralization at Windjammer North June 26, 2024: STLLR Gold Announces 2024 Annual and Special Meeting Results Image: Visible Gold Intersected at Colomac Main Deposit (Hole C24-01: 1.97 g/t Au over 41.5 m) from June 13, 2024 news release GOLD ARTICLES Gold has been range-bound between US$2,290/oz and US$2,380/oz last month, with key support levels building around the US$2,285/oz to US$2,272/oz. Feels like it is seeking a catalyst for a meaningful move one way or another. H1/24 Review From the World Gold Council (link): Gold has performed remarkably well in 2024, rising by 12% y-t-d and outpacing most major asset classes. Gold has thus far benefitted from continued central bank buying, Asian investment flows, resilient consumer demand, and a steady drumbeat of geopolitical uncertainty. As we look forward, the key question in investors’ minds is whether gold’s momentum can continue or if it’s running out of steam. With a few exceptions, the global economy is showing wavering growth indicators – eager for rate cuts – amid lower but still uncomfortable inflation. And the market’s outlook is not too dissimilar. Our analysis suggests that the gold price today broadly reflects consensus expectations for the second half of the year. However, things rarely go according to plan. And the global economy, as well as gold, seem to be waiting for a catalyst. OUTLOOK H2/24 Outlook from the World Gold Council (link) Consensus suggests "range-bound" performance Flows from western investors, showing rise in ownership, will be key to the next leg-up... and will depend on interest rates, recession risks, and geopolitics Asian investors have been important in gold's recent performance, supported by PBoC buying, but will the PBoC pause encourage profit taking? Pace of Central Bank buying may moderate rest of the year, but overall gold buying is expected to remain constructive over the next 5 years Gold Price Performance Per Currency Currency June 1-Year Euro +0.25% +24.19% CNY -0.82% +22.23% CHF -2.73% +22.09% GBP -0.12% +21.82% CAD -0.75% +25.78% AUD -1.31% +20.64% INR -0.95% +23.78% JPY +1.44% +35.77% ZAR -2.13% +18.82% HKD -1.10% +21.51% PRICE PERFORMANCE & FORECAST Price Performance June YTD Gold Price Consensus Forecast (US$/oz) STLR.TO -7% -19% 2024 $2,222 GDXJ.US -7% +11% 2025 $2,231 Gold Price 0% +13% 2026 $2,150 LT $1,915 UPCOMING STLLR EVENTS. Precious Metals Summit: September 10-13, 2024 Beaver Creek Precious Metals Summit: November 11-12, 2024 Zurich Yellowknife Geoscience Forum: November 26-28 Yellowknife, NT