Location: Democratic Republic of the Congo

Interest: 72.15%

Resource: JORC compliant Inferred Mineral Resource of 3 million ounces at 2.16 grams per tonne

Stage: Scoping Study

Next Step: Scoping Study targeting 150k – 200k gold per annum producer with cash cost below $1,000 per ounce

Project Investment to date: $30 million

Gallery

The Misisi Gold Project (“Misisi”) is a large and prospective exploration property located near the town of Misisi located 250km south of Bukavu, the provincial capital of the South Kivu Province in the Democratic Republic of the Congo (“DRC”). The Misisi Project hosts the Akyanga gold deposit which currently has an Inferred Mineral Resource of 44.4 million tonnes at 2.16 grams per tonne containing 3 million ounces on a 100% basis and 2,164,500 ounces on a 72.15% attributable basis. The statement of Mineral Resources in Table 1, completed by Denny Jones Pty Ltd (“Denny Jones”), a leading Australian based Resource Consultancy is reported in accordance with the requirements of the 2012 JORC Code.

Table 0.1 Akyanga Mineral Resource estimate - cut-off grade of 0.5 g/t Au – June 2018 (100% Basis)

Category Tonnes (millions) Gold grade (g/t) Contained Gold (million oz)
Inferred Resource 44.3 2.16 3.0

1. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, marketing, or other relevant issues. The Mineral Resources in this report were reported using the guidelines of JORC (2012).

2. The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as an Indicated or Measured Mineral Resource. It is uncertain if further exploration will result in upgrading them to an Indicated or Measured Mineral Resource category.

3. Contained metal and tonnes figures in totals may differ due to rounding.

Figure 1 Geological cross-section

Geological cross-section

In addition to the Mineral Resource, an Exploration Target over the Akyanga East project has been defined as summarised below in Table 0.2.

Table 0.2 Akyanga East Exploration Target – June 2018 (100% Basis)

Category Tonnes (millions) Gold grade (g/t) Contained Gold (million oz)
Upper Range 7.1 2.43 0.6
Lower Range 3.1 1.94 0.2

4. The quantity and grade of the reported Exploration Target are uncertain in nature and there has been insufficient exploration to define an Inferred Resource. It is uncertain if further exploration will result in the estimation of Mineral Resources.

5. A cut-off grade of 0.5 g/t has been used to define the Exploration Target.