Lake Shore Gold Corp. presents at Global Resources Investing Conference, Geneva/Zurich, June 25-27, 2014

1. L A K E S H O R E G O L D C O R P.
Making Our Mark Through
Performance
Cash Flow
Growth
June 25 – 27, 2014
Global Resources Investing
Conference
TSX, NYSE MKT: LSG 1

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 reserves contained in this presentation has been reviewed and approved by Natasha Vaz, P.Eng., Director of Technical
Services & Project Evaluation, 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 contained in this presentation, or source material
for this presentation, was reviewed and approved by Eric Kallio, P.Geo. Mr. Kallio is an employee of Lake Shore Gold Corp., and is a “qualified person” as defined by NI
43-101.
Forward-Looking Statements
2

3. Lake Shore Gold is a Canadian gold company that is growing low-
cost production, generating net free cash flow and reducing debt.
The Company is highly leveraged to gold, has attractive projects and
exploration properties to drive future growth, and operates in the
world’s greatest gold camp around Timmins, Ontario.
Lake Shore Gold Today
3

4. Holloway
St. Andrew
Holt
St. Andrew
Hislop
St. Andrew
Hoyle Pond
Goldcorp
Parmour (PJV)
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
Thunder Creek / Timmins
Lake Shore Gold
Ontario Quebec
Upper Beaver
Osisko
McGarry
Armistice
Dome Mine
Goldcorp
City of Timmins
71 Moz
Matheson
Black Fox
Brigus
Paymaster Shaft
Placer Dome (Barrick)
Bell Creek
Lake Shore Gold
Macassa
Kirkland Lake Gold
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
Porcupine
Goldcorp
Fenn-Gib
Lake Shore Gold
Located in the World’s Greatest Gold Region
Abitibi Greenstone Belt
 Over 200M ozs Au mined & current resources
 Favourable geology, good infrastructure
 Supportive government policies
 Highly skilled labour force 4

5. BELL CREEK MILL
 34,000 oz @ 5.1 gpt in
Q1/14
 On track for >130,000 oz
in 2014(1)
 New mine with excellent
infrastructure and
considerable growth
potential
TIMMINS WEST MINE
 10,600 oz @ 5.1 gpt in
Q1/14
 Targeting >30,000 oz in
2014(1)
 Large resource base
below current reserve
supports future growth
 Expansion to >3,000
tpd completed
 >96% recoveries being
achieved
 Future expansion to
5,500 tpd
contemplated
BELL CREEK MINE BELL CREEK MILL
Lake Shore Gold – Operating Assets
5(1) Example of Forward Looking Information

6.  Gold River: >1.0 M oz. in
resources, significant
growth potential
 144 adjacent to Timmins
West Mine, similar
geology
 Gold mineralization at 144
850m from Thunder Creek
GOLD RIVER/144
 Majority of resources
at Bell Creek in Labine
Deep Zone
 Potential open-pit at
Vogel
 Significant potential for
resource expansion at
all properties
BELL CREEK
Labine Deep
Zone
Bell Creek Marlhil Vogel
 Large-scale, potential
open-pitable project
 Orebody extended in
three directions and to
depth
 Additional exploration
targets identified
FENN GIB
Lake Shore Gold – Attractive Growth Projects
6

7. 1. Growing low-cost production, meeting and
exceeding key operating targets
2. Generating net free cash flow, building our cash
position
3. Reducing debt to grow value for equity holders
4. Extending mine life
5. Advancing growth projects and exploration
properties
5 Reasons to Buy LSG Shares(1)
7(1) Example of Forward Looking Information

8. 1. Growing Low-Cost Production
M e e t i n g a n d E x c e e d i n g O p e r a t i n g T a r g e t s
Production (Ounces)
Targeted to double 2012 – 2014(1)
Unit Costs (US$/Ounce)(2)
All-In Sustaining Costs <US$1,000/oz
2014 Targets(1):
COCs: $675 – $775
AISCs: $950 – $1,050
(F)
Q1/14 Production: 44,600 ounces
Tracking to top end of target range
8
(F) Forecast
(1) Example of Forward Looking Information
(2) Includes examples of Non-GAAP Measures, see Slide 26 for more details

9.  Since October 1/13, cash and bullion increased approx. $35 million
 June 15/14 cash and bullion net of $10 million debt repayment
2. Generating Net Free Cash Flow
Cash Position Rapidly Growing
9
52
28
15
34
39
50
Q1/13 Q2/13 Q3/13 Q4/13 Q1/14 June 15/14
Cash & Bullion
($ Millions)

10. 17.1
10.0
8.9
7.1
6.8 6.6
5.7 5.7 5.4 5.1
4.8
4.3 4.0 4.0 3.9
1.3
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
20.0
LSG KGC BTO TMM NGD SMF NEM ABX P ELD IMG DGC GG AGI FNV AUQ
10
Free Cash Flow Yield After Sustaining Capital (US$1,250/oz)(1)
(TD’s Estimated 2015 Operating Cash Flow Less Sustaining Capital Divided by Market Cap)
4.8% 3.6%
%
2.0% 3.2% 0.9% 1.3% 2.3% 1.5% 1.5% 3.6% 2.5% 1.4% 0.9%
Impact of US$100/oz change in(2) gold price on 2015(E) Free Cash Flow Yield
(1) TD Securities, “Precious Metals Outlook, A Look At Free Cash Flow” May 12/14 (Estimates updated as of Friday, June 13, 2014)
(2) US$100 change based on change from US$1,250/oz to US$1,350/oz
2.7% 0.3% 1.8%
2. Generating Net Free Cash Flow
Highly Leveraged to Gold Price

11. 3. Reducing Debt to Grow Value
11
 Sprott credit facility originally for $70
million
 $35M gold-linked note – Monthly cash payments
equating to 947 oz per month until May 2015
 $35M standby line – 9.75% compounded monthly
(Monthly payments from June 2015 to Nov. 2016)
 Sprott debt currently totals $35 million
 Gold-linked note: $15 million (reflects monthly payments from Jan./13 to May/14)
 Standby line: $20 million ($5 million repaid in Dec./13, $10 million in June/14)
 Unsecured convertible debentures – $103.5 million
 6.25%, conversion price of $1.40/share (TSX: LSG.DB - $95.00 @ June 18/14)
 Due September 2017

12. Target area
4. Drilling to Extend Mine Life – Timmins West
12

13. 13
RuskShearZone
Holmer
Shear Zone
Thunder Creek
Rusk
Timmins Mine
deposit
0 400
meters
East-west
Shear Zone
D3 shear zone
Syenite,
monzonite
Pyroxenite
(AIC)
Turbidites,
felsic volcanic
Mafic
volcanics
Thunder Creek
Stock
730 Level
300 Level
TW Shaft Ramp
850 Level
450 Level
1,000 Level
High potential
contact between
TC and TD
Thunder
Creek
Timmins
Deposit
4. Drilling to Extend Mine Life – Timmins West
Sediments
Volcanics
13

14. 775mL
875mL
1025mL
700mL
Link Zone Axis
390,000 oz @ >5.0 gpt
4. Drilling to Extend Mine Life – Bell Creek
Current
Mining
Labine
Deep
Zone
14
Bottom of current reserve

15. Key Intercepts
GPT Metres
14.12 10.2
8.41 12.0
7.01 10.7
6.02 7.6
11.42 3.6
8.47 4.6
7.76 8.7
5.96 6.5
6.38 6.0
BC610-866
5.39/2.10
8.00/2.70
BC610-866
5.08/2.50
BC610-863A
7.01/10.70
NA2 HW6 NA NB2
BC610-865
14.12/10.2
BC610-872
6.06/7.60
BC610-865
5.29/8.30
BC610-872
10.95/2.90
BC610-911
8.41/12.0
BC09-53H*
4.82/2.25
BC09-53H*
5.63/4.60
HW7
4. Drilling to Extend Mine Life – Bell Creek
New high-
grade
structures
discovered
near
current
mining
New structures
Existing zones
15

16.  Highly prospective mineralized trend with 2.5 km
strike length
 Two deposits identified, both within 4 km of the
Timmins West mine shaft
 Over a million ounces in resource, majority within
400 m from surface
 High-grade core in East Deposit includes 310,900 oz
@ 9.81 gpt (between 400 and 800 m)
 Excellent potential for resource expansion and new
discoveries with additional drilling – open along
strike and to depth
Current Reserves & Resources
Resource Tonnes Grade Ounces
Indicated 690,000 5.3 117,000
Inferred 5,273,000 6.1 1,028,000
Timmins West Mine
Surface drill at Gold
River
4 kms
G o l d R i v e r T r e n d
16
5. Attractive Projects with Existing Resources

17. Potential Vogel Open Pit
 Majority of Bell Creek resources below 775 L
(limit of existing reserve)
 Initial resources at Marhill and Vogel
 Studying open pit and underground options at
Vogel
 Excellent exploration potential at all properties
and others
Resources Tonnes Grade
Contained
Ounces
Indicated
Bell Creek Mine 4,541,700 4.6 672,000
Vogel – open pit 2,291,000 1.75 125,000
Marhill 395,000 4.5 57,000
Inferred
Bell Creek Mine 5,934,900 4.6 872,000
Vogel – underground 767,000 5.6 137,000
Vogel – open pit 692,000 1.43 32,000
Labine
Deep
Zone
Marlhill Vogel
17
5. Attractive Projects with Existing Resources

18. (1) Example of Forward Looking Information
 Fenn-Gib – near surface resource with potential
for ~200k oz/year of production(1)
 Current resource evaluated as open pit with low
strip ratio
 Option for small starter pit with limited capital
investment
• Highly prospective geology with multiple
additional exploration targets identified
• Mineralization extended 200 m to north, east and
to depth with only limited drilling
Current Reserves & Resources
Resource Tonnes Grade Ounces
Indicated 40,800,000 0.99 1,300,000
Inferred 24,500,000 0.95 750,000
18
5. Attractive Projects with Existing Resources

19. 19
2,000 Lv
Timmins DepositThunder Creek144
TC – 144 Trend
UM and FW structures extended
to 2,400 m
6 kms
Timmins West Mine
1,000 Lv
500 Lv
OpenOpenOpenOpenOpen
5. A Leading Exploration Story

20. 1.6 kms
Open
Syenite Intrusives
Thunder
Creek
144 North144 South Timmins
DepositTC-144 Gap
144SW
* View looking to west
1km Lv
HWY-12-40
1.42 gpt/37.1m
Incl. 13.54 gpt/2.0m
And 6.07 gpt/3.0m
HWY-12-43
5.10 gpt/3.0m
Incl. 10.35 gpt/1.0m
3.33 gpt/6.9m
And 10.18 gpt/1.7m
HWY-11-19
1.02/51.65m
Incl.3.28/4.65m.
And 5.14 gpt/3.0m
HWY-11-28
12.60 gpt/1.3m
1.30 gpt/57.7m
Incl. 4.06 gpt/7.6m
HWY-12-45
2.01 gpt/41.7m
Incl. 14.76 gpt/3.0m
850 m
20
5. A Leading Exploration Story
OpenOpenOpen

21. 1. Growing low-cost production, meeting and
exceeding key operating targets
2. Generating net free cash flow, building our cash
position
3. Reducing debt to grow value for equity holders
4. Extending mine life
5. Advancing growth projects and exploration
properties
5 Reasons to Buy LSG Shares(1)
21(1) Example of Forward Looking Information

22. Lake Shore Gold Today
22
Lake Shore Gold is a Canadian gold company that is growing low-
cost production, generating net free cash flow and reducing debt.
The Company is highly leveraged to gold, has attractive projects and
exploration properties to drive future growth, and operates in the
world’s greatest gold camp around Timmins, Ontario.

23. APPENDIX
23 23

24. Probable Reserves(1) Tonnes Au Grade (g/t) Contained Ounces
Timmins West Mine 3,332,000 4.6 492,200
Bell Creek Mine 707,000 4.7 106,600
Total 4,039,000 4.6 598,800
Measured & Indicated(2) Tonnes Au Grade (g/t) Contained Ounces
Timmins West Mine 4,364,000 5.1 715,000
Gold River 690,000 5.3 117,000
Bell Creek Mine 4,542,000 4.6 672,000
Vogel 2,219,000 1.75(3) 125,000
Marlhill 395,000 4.5 57,000
Fenn Gib 40,800,000 0.99(3) 1,300,000
Total 2,985,000
Inferred Tonnes Au Grade (g/t) Contained Ounces
Timmins West Mine 2,939,000 5.5 516,000
Gold River 5,273,000 6.1 1,028,000
Bell Creek Mine 5,935,000 4.6 872,000
Vogel 1,459,000 3.60(4) 169,000
Fenn-Gib 24,500,000 0.95(3) 750,000
Total 3,335,000
(1) Reserves calculated at average price of US$1,100/oz (2) Resources are inclusive of reserves (3) Open-pit resources (4) Combination of underground
and open-pit resources
3.0M Oz M&I, 3.3M Oz Inferred Resources
Reserves 21% of Total Resources at Existing Mines
24

25. LSG – Q1/14 Financial Highlights
$ Millions unless otherwise stated Q1/14 Q1/13 % Change
Ounces sold 43,000 26,100 65
Average price (US$/oz) 1,294 1,630 (21)
Average price ($/oz) 1,430 1,642 (13)
Revenues 61.5 42.9 43
Cash operating costs 29.5 26.0 13
Cash earnings from mine operations(1) 32.0 16.9 89
Earnings from mine operations 14.4 3.9 269
Net earnings (loss) 4.7 (0.6) N/A
Cash flow from operating activities 24.9 16.2 54
(1) Example of Non-GAAP measure, see Slide 26 for more details
25

26. 26
Cash Operating Cost 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.
All-In Sustaining Cost 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.
Cash Earnings from Mine Operations
Cash earnings from mine operations is a Non-GAAP measure determined by deducting cash operating costs from
revenues recognized in the period. The Company discloses cash earnings from mine operations as it believes this
measure provides valuable assistance to investors and analysts in evaluating the Company’s ability to finance its
ongoing business and capital activities. The most directly comparable measure prepared in accordance with GAAP is
earnings from mine operations.
Non-GAAP Measures