QMX Files Management Information Circular For Special Meeting of Shareholders - Seite 2

Additional information related to the benefits and related risks of the Arrangement are contained in the Circular.

Board Recommendation

The board of directors of the Company (the “Board”), acting on the unanimous recommendation of a special committee of the Board (the “Special Committee”) and after receiving legal and financial advice, unanimously determined the Arrangement is fair to the Shareholders (other than Eldorado) and is in the best interests of the Company, and recommends the Shareholders vote FOR the Arrangement.

Interim Order

The Company also announced today that the Company has been granted an interim order (the “Interim Order”) from the Ontario Superior Court of Justice (Commercial List) authorizing various matters, including the holding of the Meeting and the mailing of the Circular.

Meeting and Circular

The Meeting is scheduled to be held as a virtual-only meeting conducted by live audio webcast available online at https://virtual-meetings.tsxtrust.com/1080 on Tuesday, March 23, 2021 at 11:00 a.m. (Toronto time). The virtual Meeting will be accessible online starting at 10:30 a.m. (Toronto time) on March 23, 2021. Shareholders, regardless of geographic location, will have an equal opportunity to participate in the Meeting online. Shareholders will not be able to attend the Meeting in person. Shareholders of record as of the close of business (5:00 p.m. (Toronto time)) on February 8, 2021 are entitled to receive notice of and vote at the Meeting. Shareholders are urged to vote well before the proxy deadline of 11:00 a.m. (Toronto time) on March 19, 2021.

The Circular provides important information on the Arrangement and related matters, including the background to the Arrangement, the rationale for the recommendations made by the Special Committee and the Board, voting procedures and how to virtually attend the Meeting. Shareholders are urged to read the Circular and its schedules carefully and in their entirety. The Circular is being mailed to Shareholders in compliance with applicable laws and the Interim Order. The Circular is available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.qmxgold.ca.