LYCOPODIUM LIMITED — Capital/Financing Update 2021

Mar 25, 2021

Lycopodium Limited ABN 83 098 556 159

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Award of Contract for the delivery of Roxgold’s Séguéla Project

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PERTH, 26 March 2021

Lycopodium Minerals Canada Ltd (“Lycopodium” or the “Company”) has been selected for the design, supply and project delivery of the processing plant and associated plant related services and infrastructure for Roxgold’s Séguéla Gold Project in Côte d’Ivoire.

The greenfield development is located approximately 240 kilometres north-west of Yamoussoukro, the political capital of Côte d’Ivoire, and approximately 480 kilometres north-west of Abidjan, the country’s commercial capital.

Lycopodium will be responsible for the design and supply of equipment, manufactured goods and all other materials and the construction management, pre-operational testing and commissioning services, as well as the overarching project management, for the delivery of the 1.25 Mtpa, carbon-inleach gold process plant.

The award is the culmination and recognition of prior successfully completed and ongoing scopes for the project, including the Preliminary Economic Assessment in 2019, Feasibility Study in 2020, and, most recently, the Feasibility Study Optimisation and Front End Engineering Design.

Lycopodium Limited’s Managing Director, Peter De Leo, said: “We have been working alongside Roxgold in the development of the Séguéla Gold Project since its inception, and we look forward to supporting them to successful project completion, with the pouring of first gold targeted for Q4 2022.”

The Séguéla Project consists of the near surface Antenna, Agouti, Boulder, Ancien and Koula deposits that are ideally located near existing infrastructure including grid power, transport and water resources.

“I commend our team in Canada for their hard work and absolute commitment in supporting Roxgold to-date in bringing their second major project to fruition,” said Mr De Leo.

Works will commence immediately.

For further information

Peter De Leo Managing Director, Lycopodium Limited Telephone: +61 8 6210 5222

Level 5, 1 Adelaide Terrace, East Perth WA 6004, Australia T +61 8 6210 5222

Lycopodium Limited ABN 83 098 556 159

W lycopodium.com

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About Lycopodium Limited (ASX: LYL)

Lycopodium is a leader in its field, working with clients to provide integrated engineering, construction and asset management solutions. We have the expertise to deliver complex, multidisciplinary projects, through to the provision of feasibility studies and advisory services.

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Operating across the Resources, Infrastructure and Industrial Processes sectors, we offer a diverse team of industry experts to deliver bespoke and innovative solutions across all commodity types. With the capability to deliver projects around the world, we have offices in Australia, South Africa, Canada and the Philippines.

For more, visit www.lycopodium.com

Level 5, 1 Adelaide Terrace, East Perth WA 6004, Australia T +61 8 6210 5222