Lake Shore Gold Corp. is poised for strong growth in 2013 and 2014. In 2012, the company met production guidance of 85,782 ounces of gold and achieved development objectives that increased production capacity by 25%. For 2013, Lake Shore Gold expects at least 40% production growth over 2012, with production costs declining as output increases. It also anticipates generating positive free cash flow by late 2013. With nearly $96 million in cash and bullion to start 2013, no additional external capital is required. Lake Shore Gold's portfolio of gold projects provides potential for further expansion beyond 2014.

1. Lake Shore Gold Corp.
Poised for a Break-Out
Year in 2013
PDAC
March 3 – 6, 2013
Lake Shore Gold Corp.
TSX & NYSE MKT : LSG
www.lsgold.com

2. Forward Looking Statements
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
The Company’s Qualified Persons (“QPs”) (as defined in National Instrument 43-101, “Standards of Disclosure for Mineral Projects”) for surface diamond
drilling projects at the Timmins West Mine Complex, Bell Creek Mine Complex; Fenn-Gib property and Casa Berardi optioned property are Jacques
Samson, P.Geo. and Keith Green, P.Geo. Dean Crick, P.Geo. is the QP for underground drilling at the Timmins West Mine and Bell Creek Mine properties.
Reno Pressacco, P.Geo is the QP for the current resource estimate at the Marlhill Deposit. Ralph Koch, P.Geo is the QP for the current resource estimate
at the Bell Creek property and portions of the Timmins West Mine. Bob Kusins, P.Geo. is the QP for resource estimation for portions of the Timmins West
Mine and at all remaining Company properties. As QPs, Messrs. Samson, Green, Crick, Koch and Kusins have prepared or supervised the preparation of
the scientific or technical information for their respective properties as reviewed in this MD&A. Messrs., Samson, Green, Koch, Kusins and Crick are
employees of the Company.
2

3. LSG: Poised for a Break-Out Year in 2013
 A solid year of preparation and performance in 2012
 Met production guidance – set base for future growth
 Achieved development and expansion objectives – production capacity up 25%
 Effectively managed spending and costs
 Poised for strong growth in 2013 and again in 2014(1)
 At least 40% growth in production in 2013, more growth in 2014
 Capital spending and operating costs to decline as production increases
 Positive free cash flow by late 2013
 Solid financial position entering 2013
 Approx. $96 million of cash and bullion at beginning of 2013(2)
 No additional external capital required(1)(3)
 Disciplined approach to capital deployment
 Full pipeline of wholly owned projects & properties
 Key competition strength capable of taking Company even higher
Significant Valuation Upside
(1) Examples of forward-looking information
(2) Pro forma for drawdown of $35M standby line
(3) Assumes no new development projects undertaken 3

4. Strategy Focused on Value & Cash Flow
LSG’s Strategy:
Deliver value for shareholders by completing mine
construction at Timmins West Mine and generating positive
free cash flow
 Bring Timmins West Mine to full production
 Positive free cash flow by second half of 2013
 140,000 to160,000 ounces per year(1)
 Cash costs <US$700/oz(1)
 Continuously improve operating performance and effectively
manage costs
 Reduce debt and strengthen balance sheet through internally
generated capital
 Evaluate growth projects to enhance value in near term
(1) Examples of forward-looking information
4

5. Poised for Rapid Climb in 2013 and Again in 2014(1)
3.7
Ounces Production Growing as Capital Spending Declines(1)(2)(3)
$ Millions
180,000 180
160,000 160
140,000 140
120,000 120
100,000 100
80,000 80
60,000 60
40,000 40
20,000 20
0 0
2009 2010 2011 2012 2013 2014 2015 2016
Production (Actual) Production (Forecast) Production (Range)
Capital Spending(Actual) Capital Spending (Forecast)
(1) Examples of Forward Looking Information
(2) Bell Creek, Gold River Trend and Fenn-Gib provide further potential growth after 2014
(3) Capital based on Timmins West Preliminary Economic Assessment and expected exploration spending 5

6. Strong Liquidity, Solid Financial Position
Liquidity $ millions
Cash and bullion inventory (Dec. 31/12) 61
Standby line of credit 35
Total liquidity 96
Operating cash flow(1)
Target production (ounces) 120,000 – 135,000
Target cash costs (US$/oz)(2) 800 – 875
Assumed gold price (US$/oz) 1,650
Implied operating cash flow ($ millions) 93 – 115
Implied total sources of cash ($ millions)(1) 189 – 211
Additional operating expenditures(1) $ millions
Capital (including exploration) 90
Exploration 10
Financing costs 30
Total additional operating expenditures(1)(3) 130
(1) Includes examples of Forward-Looking Statements
(2) Assumes C$/US$ exchange rate of par
(3) Excludes financing costs 6

7. Three Multi-Million Ounce Complexes
Strong Portfolio Supports Short, Medium and Long-Term Value Creation
 Timmins West
– Timmins West Mine in production, targeting strong
production growth & free cash flow
– Evaluating potential of Gold River (>1M ounces in resource)
– Exploration upside at 144, adjacent to Timmins West Mine
 Bell Creek
– Large resource base (0.8M ounces M&I, 1.1M ounces
Inferred)
– Current production: 20,000 - 25,000 ounces/year
– Evaluating potential for much larger operation
– Multiple exploration targets at & around Bell Creek Mine
 Fenn-Gib
– Large open-pit project 60 kms from Bell Creek
– Resources: 1.3M ounces Indicated, 0.8M ounces Inferred
– Exceptional potential to grow resource
(1) Examples of Forward Looking Statements
7

8. 2012 – A Solid Year of Preparation and Performance
 Met guidance (85,782
ounces gold)
 Achieved mine
development and
mine/mill expansion
objectives
 Increased production
capacity 25% to 2,500 tpd
 Effectively managed
capital and operating
costs
 Capex reduced from $193M to
@$175M
 9M $112/tonne cash cost
below target
8

9. Timmins West Mine
Development Well Advanced, Full Production by End of 2013(1)
 Gold production of @64,000 ounces in 2012
 Average grade in 2012 of 3.9 gpt
 Reflected significant development, limited
flexibility & additional drilling in UM Complex
 Targeting 80-85% of LSG’s 2013 production(1)
 Infrastructure: 710 m, 5.5 m diameter shaft,
hoist, surface ramp, 2 drifts to Thunder Creek
 307 Employees (230 U/G, 77 surface)
Reserves (ounces) 823,800
Av. grade (gpt) 5.2
Current reserve life @5 yrs(1)
Full production (‘000s ounces/yr) 140 –160(1)
Cash cost/oz (full production) <US$700(1)
(1) Examples of inclusive Looking Statements
(1) Resources Forward of reserves
(2) Example of Forward Looking Statements 9

10. Bell Creek Mine
Production Funding Evaluation of North A Deep
 Gold production of @22,000 ozs in 2012
 Average grade in 2012 of 3.9 gpt
Targeting 15-20% of LSG’s 2013 production(1)
 Infrastructure: mill, tailings, 300 m shaft (non-
producing), surface decline to 610 m, vent
raises, drill drifts
 101 Employees (76 U/G, 25 surface)
Shaft
M&I resource (ounces) 646,400
Av. grade (gpt) 4.7
Inferred resources (ounces) 953,800
Av. grade (gpt) 4.9 North A
“Deep”
Current capacity (‘000s ounces/yr) 20 – 25
Production potential (‘000s ounces/yr)(1) 75 – 120
(1) Resources inclusive of reserves
(1) Examples of Forward Looking Statements10
(2) Example of Forward Looking Statements

11. Timmins Mill Plant – A 50% Increase in Capacity
SAG Mill Building
Crusher
New CIL Tanks
Truck Dump 6,000 tonne
Ore bin New Thickener
 Exceptional operational & metallurgical performance
 Phase One expansion complete: New capacity 2,500 tpd
 Phase Two expansion to 3,000 tpd – Completion in Q2/13(1)
(1) Example of Forward Looking Statements
11

12. Poised for Strong Growth in 2013 & Again in 2014(1)
 Targeting 120,000 –135,000 ounces in 2013 3.7
 40-57% growth from 2012
 On track to reach 140,000 to 160,000 ounces in 2014
 First full year at 3,000 tpd
 Reducing capital spending
 Estimating 2013 cash costs of US$800/oz to US$875/oz
 Further improvement expected in 2014
 Positive free cash flow by late 2013
(1) Examples of Forward Looking Information
(2) Bell Creek, Gold River Trend and Fenn-Gib provide further potential growth after 2014 12

13. Solid Financial Position Entering 2013
 No additional outside sources of capital required
 Ended 2012 with approx. $61 million of cash and bullion
 Drew $35 million stand-by line of credit at end of January 2013
 Estimated operating cash flow(1) of $93M to $115M based on
target ranges for production and cash costs(2)
 Capital spending to decline from approx. $170M(2) in 2012 to
approx. $80M for projects and $10M for exploration (mainly in-
mine drilling) in 2013(2)
 Business plan focused on being funded by end of 2015 to pay off
all debt
(1) Gold sale proceeds less cash operating costs (assuming US$1,650/oz gold and a
C$/US$ exchange rate at par)
(2) Examples of Forward Looking Statements 13

14. LSG: Significant Valuation Upside
Lake Shore Gold (TSX, NYSE MKT: LSG)
Shares outstanding (basic) 415,700,000
Share price (Feb. 21, 2013) $0.62
Market capitalization $258,000,000
52 week High/Low $1.73/$0.58
3M average volume (shares on TSX/NYSE MKT) 2,000,000
Debt includes
Gold-linked note $35,000,000
Convertible debentures (unsecured, 6.25%, convertible at $1.40) $103,500,000
Standby line of credit $35,000,000
40.00%
LSG Gold Index Spot Gold
20.00%
0.00%
-20.00%
-40.00%
-60.00%
14

15. LSG: Poised for a Break-Out Year in 2013
 A solid year of preparation and performance in 2012
 Met production guidance – set base for future growth
 Achieved development and expansion objectives – production capacity up 25%
 Effectively managed spending and costs
 Poised for strong growth in 2013 and again in 2014(1)
 At least 40% growth in production in 2013, more growth in 2014
 Capital spending and operating costs to decline as production increases
 Positive free cash flow by late 2013
 Solid financial position entering 2013
 Approx. $96 million of cash and bullion at beginning of 2013(2)
 No additional external capital required(1)(3)
 Disciplined approach to capital deployment
 Full pipeline of wholly owned projects & properties
 Key competition strength capable of taking Company even higher
Significant Valuation Upside
(1) Examples of forward-looking information
(2) Pro forma for drawdown of $35M standby line
(3) Assumes no new development projects undertaken 15

16. APPENDIX
16

17. Timmins West Complex
130 km2 land position, western extension of Timmins Gold Camp
Pipestone Fault
Bell Creek Complex
Hoyle
Pond
Hollinger Pamour Destor Porcupine Fault
McIntyre
Timmins Dome
Fenn-Gib
Timmins West Complex
17

18. LSG – Large Resource Base
Probable Reserves Tonnes Au Grade (g/t) Contained Ounces
Timmins West Mine 4,922,000 5.21 823,800
Measured & Indicated(1) Tonnes Au Grade (g/t) Contained Ounces
Timmins West Mine 5,826,000 5.99 1,122,500
Gold River 690,000 5.29 117,400
Bell Creek Mine 4,249,000 4.73 646,400
Vogel 2,219,000 1.75(2) 125,000
Marlhill 395,000 4.52 57,400
Fenn Gib 40,800,000 0.99(2) 1,300,000
Total 3,368,700
Inferred Tonnes Au Grade (g/t) Contained Ounces
Timmins West Mine 4,272,000 5.76 791,500
Gold River 5,273,000 6.06 1,027,800
Bell Creek Mine 6,088,506 4.87 953,800
Vogel 1,459,000 3.60(3) 168,800
Fenn-Gib 24,500,000 0.95(2) 750,000
Total 3,691,900
(1) Resources are inclusive of reserves
(2) Open-pit resources
(3) Combination of underground and open-pit resources 18

19. Timmins Deposit – 2013 Production Plan
Existing Development
2013 Development
Stope Production
650 L
670 L
690 L
710 L
730 L
750 L
770 L
790 L
810 L
830 L
850 L
870 L
Down ramp to 890 L
19

20. Thunder Creek – 2013 Production Plan
Ramp to 555 L
Existing Development
2013 Development
Ramp to 590 L
Stope Production
625 L
660 L
695 L
730 L
765 L
20

21. Bell Creek – 2013 Production Plan
Existing Development
2013 Development
Stope Production 505 L
520 L
535 L
550 L
565 L
580 L
595 L
610 Exp Drift
610 L
625 L
640 L
655 L
670 L
Ramp to 685 L
685 L
21

22. Strong Exploration Upside – Timmins West
6 kms
TC – 144 Trend
Timmins West Mine
144 Thunder Creek Timmins Deposit
2,000 Lv
UM and FW structures extended
to 2,400 m
22

23. New Mineralization Discovered Along TC-144 Trend
23

24. New Mineralization Discovered Along TC-144 Trend
24

25. Latest drilling and re-sampling at Fenn Gib continues
to confirm large-scale pit potential
1:5,000
25

26. Casa Berardi Option Agreement With Aurizon
LSG 2008 drill hole
CE-08-08
8.4 gpt / 10.4m
CE-08-08 8.4 gpt / 10.4m
LSG 2009 drilling
CE-08-08
3.44 gpt / 3.91m
26