PREDICTIVE DISCOVERY LIMITED — Capital/Financing Update 2022

Aug 1, 2022

2 August 2022

Predictive Discovery Limited ( ASX:PDI ) re-lodges the ASX Release dated 1 August 2022 and titled “4.2moz Bankan Gold Resource - Updated Resource Statement for the Bankan Gold Project”.

The information required by ASX Listing Rule 5.8.1 has been brought forward from the Appendix to the body of the announcement. Otherwise, there are no further changes.

This announcement is authorised for release by Predictive Managing Director, Andrew Pardey.

For further information visit our website at www.predictivediscovery.com or contact:

Andrew Pardey Company Secretary Managing Director Ian Hobson E: Andrew.Pardey@predictivediscovery.com E: Ian.Hobson@predictivediscovery.com P : +61 8 9388 8290

Media Enquiries

Bobby Morse/Ariadna Peretz - Buchanan E: predictive@buchanan.uk.com P: +44 (0) 20 7466 5000

Predictive Discovery Limited ABN 11 127 171 877 Suite 8, 110 Hay Street, Subiaco WA 6008 T +61 8 9216 1020

2nd August 2022

4.2MOZ BANKAN GOLD RESOURCE

UPDATED RESOURCE STATEMENT FOR THE BANKAN GOLD PROJECT

Predictive Discovery Limited (“Predictive” or “Company”) is pleased to announce an updated JORC 2012compliant Mineral Resource Statement for the Company’s flagship Bankan Project (“Bankan” or “the Project”)

HIGHLIGHTS

• NE Bankan deposit Total Mineral Resource now 72.3 million tonnes at 1.65g/t Au for 3.9 million ounces of gold.

• Global Resource for Bankan - NE Bankan and Bankan Creek Deposits - increases to 79.5 million tonnes at 1.63g/t Au for 4.2 million ounces of gold (Table 1).

TABLE 1: BANKAN PROJECT UPDATED MINERAL RESOURCE ESTIMATE

Deposit	Classification	Million Tonnes	Grade Au g/t	‘000 Contained Au ounces
NE Bankan	Inferred	72.3	1.65	3,884
Bankan Creek	Inferred	7.2	1.43	331
Total	Inferred	79.5	1.63	4,215

(Assays to 21 July 2022, see other accompanying notes to Resource Table[1] )

KEY POINTS ON GROWING BANKAN

• NE Bankan deposit increased by 569,000 ounces, from 3.3Moz to 3.9Moz an 18% increase in Mineral Resource.

• NE Bankan grade continues to increase with 72.3 million tonnes at 1.65g/t Au (previously 1.57g/t) driven by the high-grade zone returning an average grade of 6.59g/t Au.

• Mineral Resource includes initial High-Grade underground resource directly below the optimised pit shell of 283,938 tonnes at 4.85g/t for 44,000 ounces.

• Initial metallurgical test work for the deeper high-grade zone within the optimised pit shell completed leaching within 24 hours for an average recovery of 92% and results of 30 – 50% gravity recovery.

• Deepest diamond hole (BNERD0113) sits outside the reported Mineral Resource area, currently as unclassified material, providing exciting potential for further resource growth.

• NE Bankan remains open downdip with the deepest hole BNERD0113 returning 24m @ 5.5g/t Au from 850m, including 11m @ 10.3g/t Au from 852m[2] with infill and step out drilling expected to convert this result into resource.[2]

1June 30th (2022) cut-off date for drilling to be included in updated Resource.

2 ASX Announcement - deepest hole to date intercepts gold 630m down dip of 3.65Moz Resource pit shell – 15th June 2022.

Predictive Discovery Limited ABN 11 127 171 877 Suite 8, 110 Hay Street, Subiaco WA 6008 T +61 8 9216 1020

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• The Company has completed multi-element and geochemical analysis of the NE Bankan deposit, with NE Bankan signature now understood and to be used regionally to look for similar NE Bankanstyle discoveries.

• Updated Resource comprises 83 Reverse Circulation/Diamond Drill (RCDD) and 134 Reverse Circulation (RC) holes for a total of 52,316.8 meters of drilling.

• Currently nine drill rigs undertaking further resource drilling, grade control and near-deposit exploration across the Bankan Project area.

• Mineral Resource Estimate has been prepared by independent consultants, CSA Global Mining Industry Consultants (‘CSA’) and is reported in accordance with the JORC Code (2012).

• Predictive is well funded with $57 million in cash.

Commenting on the updated Mineral Resource Statement, Managing Director Andrew Pardey:

“Today’s results confirm what we have believed since the Discovery Hole in April 2020: Bankan is one of the most significant gold discoveries ever made in West Africa and may possibly become the region’s next tier-one gold mine.

Since our Maiden Resource on 30 September 2021, we have added an extra 569,000 ounces at NE Bankan to achieve an Inferred Mineral Resource of 4.2Moz grading 1.63g/t gold. Importantly, the most exciting step-out hole completed, BNERD0113, is below the current Resource model therefore we will continue with more infill work to convert these results into Resources.

Over the following months and supported by our healthy A$57 million cash balance, we will continue to drill the current deposit to convert the Resource category from Inferred to Indicated, undertake further resource drilling at Bankan Creek and develop our regional targets with the goal of finding more NE Bankan-style deposits along our 35km-long structural corridor.

Looking further forward, the team is hard at work to ensure this project is built into a mine. In addition to drilling and metallurgical work, we will continue working with the Guinean Government, which fully backs the project, as well as working with our advisors to design a project that embeds environmental and social matters at its core, in alignment with the expectation of our stakeholders. This is central to our ability to bring Bankan into production. “

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Predictive Discovery Limited (“Predictive” or “Company”) is pleased to announce an updated JORC 2012compliant Mineral Resource Statement for the Company’s flagship Bankan Project (“Bankan” or “the Project”), located in Guinea (Fig. 1).

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Figure 1 – Predictive Discovery’s Bankan Project, located in Guinea’s Siguiri Basin

The Mineral Resource Estimate for the Bankan Project is shown in Table 2, reported at a 0.5 g/t Au cut-off grade and constrained by the open pit optimisation, along with the remaining Lower HG outside the optimised pit at Northeast Bankan, considered as an underground resource.

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The resource and grade-tonnage tables are as follows:

TABLE 2: BANKAN PROJECT UPDATED MINERAL RESOURCE ESTIMATE

Deposit	Classification	Million Tonnes	Grade Au g/t	‘000 Contained Au ounces
NE Bankan	Inferred	72.3	1.65	3,884
Bankan Creek	Inferred	7.2	1.43	331
Total	Inferred	79.5	1.63	4,215

(Assays to 21 July 2022, see other accompanying notes to Resource Table[3] ) Notes to Resource Table:

1. The Northeast Bankan Mineral Resource is estimated with all drilling data available at 21[st] June 2022; the Bankan Creek Mineral Resource is estimated with all data available at 2[nd] September 2021, and was previously reported by PDI on 30[th] September 2021

2. The Mineral Resource is reported in accordance with the JORC Code 2012 Edition at a 0.5 g/t Au cutoff.

3. The Competent Person is Phil Jankowski FAusIMM of CSA Global

4. The Resources are constrained by optimised pit shells using a metal price of AUD1,800 per ounce Au and process recovery of 94%.

5. Rounding may lead to minor apparent discrepancies

The entire resource for both prospects is classified Inferred, and both are open at depth and along strike. The grade-tonnage relationship is shown in Table 3.

TABLE 3: NE Bankan Grade Tonnage Table

Cutoff Au g/t	Tonnes	Grade Au g/t	Contained Au ounces
0	496,386,611	0.25	4,014,366
0.1	92,718,277	1.35	4,014,366
0.2	88,314,177	1.41	3,993,127
0.3	80,670,227	1.52	3,931,687
0.4	75,579,577	1.60	3,876,040
0.5	72,332,714	1.65	3,884,109
0.6	68,141,564	1.71	3,755,997
0.7	61,957,776	1.82	3,626,769
0.8	54,888,963	1.96	3,456,318
0.9	47,457,813	2.13	3,253,238
1.0	40,072,925	2.35	3,027,680

3June 30th (2022) cut-off date for drilling to be included in updated Resource.

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Figure 2 - Section 1174940 showing high grade zone and new US1,800 optimised pit shell with the red zone below the pit showing the initial underground resource

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Figure 3 - Oblique Section showing base of resource model with Hole BNERDD 113 outside of current mineral resource over 300 metres from the next drillhole

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2nd August 2022

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Figure 4 -High Grade within the optimised pit shell and HG underground Resource below pit shell (right) and Base of resource model and Hole hole BNERD113 below Resource model (left)

2nd August 2022

TABLE 4: NE Bankan Domain Grade Tonnage Table

Domain	Tonnes	Grade Au g/t	Contained Au ounces
	2,988,700	0.91	87,441
Laterite
	1,470,175	0.70	33,087
Low Grade
	60,023,863	1.07	2,064,899
Medium Grade
	7,691,850	6.59	1,629,699
High Grade
	158,125	4.85	24,657
Lower HG in pit
	283,938	4.85	44,275
Lower HG UG
	72,616,651	1.66	3,884,058
Total

Overview

Since the Maiden Inferred Resource was reported on 30 September 2021, drilling at Bankan has been focused on growing the NE Bankan Deposit and the high-grade zone beneath the 2021 Maiden Resource Estimate US$1,800/oz pit shell. Resource drilling is currently underway as part of the continued growth strategy, in parallel with aircore and power auger programmes being completed across the Bankan project, testing structural target areas interpreted from the aeromagnetic survey across the project area.

Project location and History

The Bankan gold camp is situated in north-east Guinea, West Africa (Figure 1). The project is 550km by road from Guinea’s capital Conakry within the region of Upper Guinea (Haute-Guinée) and is near the regional administrative centre of Kouroussa (Figure 1), a city of approximately 50,000 inhabitants.

The Bankan project area covers 356km[2 ] in four exploration permits, Kaninko, Saman, Bokoro and Argo. Three permits are held by wholly owned subsidiaries of Predictive Discovery Limited. The fourth, Argo, is held in a joint venture with the owners of local company Argo Mining SARLU, through which the company has the right to acquire 100% equity at decision-to-mine.

Geology and Geological Interpretation

Geologically, the Bankan gold camp lies in the south-western portion of the Siguiri Basin, a component of the early Proterozoic Birimian orogenic belt in north-eastern Guinea. The Siguiri Basin is largely composed of turbiditic sediments with lesser mafic volcanics and minor felsic intrusives. The geology in the immediate Bankan area consists of shelf sedimentary rocks (conglomerates, sandstones, shales and limestones), mafic volcanics and intrusives and felsic intrusives, the latter generally ranging from tonalite to quartz diorite in composition.

The Bankan Gold Project is made up of the NE Bankan and Bankan Creek gold discoveries, both were first tested by power auger and air core drilling in February- March 2020. The initial discovery from air core drill results was

Predictive Discovery Limited ABN 11 127 171 877 Suite 8, 110 Hay Street, Subiaco WA 6008 T +61 8 9216 1020

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reported on 15 April 2020 with a standout intersection of 46m (to EOH) at 6.58 g/t gold from 4m including 10m at 26.52 g/t gold from 34m.[4]

Since February 2020, the company has carried out two very large drilling programs on the Bankan project area, consisting of 5,245m of power auger drilling, 33,886m of reverse circulation (RC) drilling, 17,329m of diamond drilling (DD) and 25,710m of combined RC-DD drilling. These programs have further extended the NE Bankan to over 400m vertical depth and identified new promising targets with encouraging gold grades elsewhere on the Bankan project area.

The dominant host rocks to mineralisation at NE Bankan are felsic to intermediate intrusives, typically of tonalite to quartz diorite composition (collectively called the “felsic intrusives” or the “tonalite”). These intrude mafic volcanics which are overlain by shallowly west-dipping metasediments to the west. The primary gold mineralisation, which dips to the west at approximately 45 degrees, is overlain by oxide gold mineralisation, in laterite and saprolite, from surface to a depth averaging approximately 60m.

The central portion of the NE Bankan gold deposit is strongly controlled by a major west-dipping shear zone, with most gold and higher-grade zones occurring in the footwall of that shear zone within the felsic intrusives. This shear zone appears to split into several weaker shear planes north of the high-grade core where gold grades are generally lower. Gold grades are generally highest where the shear zone forms the contact between the felsic intrusives in the footwall from the mafic volcanics in the hangingwall. The gold mineralised bodies generally strike north-south and dip to the west, parallel to the major shear zone.

Drilling Techniques

All data available as at 21[st] June 2022 was used to estimate the resource for Northeast Bankan. This comprises 134 RC holes for 13,651 linear metres and 83 DD or RC/DDH holes for 38,665.81 linear metres. Core is orientated by a downhole orientation tool. Core diameters used are mostly NQ with minor HQ and HQ triple tube; 140 mm RC face sampling bits were used; and 90 mm aircore.

Core recoveries were recorded by dividing the total length of core returned from each run by the length of the run. Overall core recoveries averaged 92%, with the poorest recoveries (averaging 82%) in the first 40 m of the drillholes. Overall, RC recovery is very good at 96%, however samples in the first metre have lower than average recovery from the collaring process.

A regularity of the recovery pattern downhole suggests considerable lag between the sample being generated at the hammer and reporting to the cyclone. Drillers do not always adhere to the metre marks on the mast, leading to randomly occurring overlength and under length samples.

It is unlikely that overall, the grade of the RC drill samples has been biased, however the combination of regularly and randomly occurring sample weight variations will lead to a degradation of the local grade estimate and a higher than necessary nugget, as well as increased inaccuracy in the spatial delimitation of ore waste boundaries.

4 ASX Announcement - Outstanding drill results confirm new gold discovery in Guinea (15th April 2020)

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Sampling and Sub-sampling Techniques

For diamond drilling samples, core was cut with a diamond saw. Routine samples were half-core, with predetermined diamond core duplicates being quarter-core. For reverse circulation and aircore drillholes, the samples were split using a cone sampler. The majority of chip samples are dry or only slightly damp. RC sample weights are recorded as are the weights of the rejects.

Field duplicate results for reverse circulation and diamond core demonstrated no bias in the sample results. There is a moderate scatter in the reverse circulation duplicate pairs and considerable scatter in the diamond duplicate pairs suggesting that the mineralisation is likely to be highly variable at a short scale, and this variability needs to be taken into account when planning future sampling programs.

Classification Criteria

Gold grades have been estimated using Ordinary Kriging using Surpac software. For Northeast Bankan, three nested grade domains were defined in the saprolite and fresh mineralisation using Leapfrog software, at nominal 3 g/t Au (High Grade), 0.5 g/t Au (Medium Grade) and 0.3 g/t Au (Low Grade) cutoffs from 3 m downhole composites. For the laterite mineralisation, a 0.3 g/t Au cutoff domain was defined from 1 m downhole composites.

These domains were used as hard boundaries. High Grade and Medium Grade composites were cut to 40 g/t Au, low Grade to 7g/t Au and laterite to 15 g/t Au. Search ellipses and maximum composites were chosen following Kriging Neighbourhood Analysis.

The previous resource estimate for Northeast Bankan was dated 30[th] September 2021 and totalled Inferred 65.6Mt@ 1.57g/t for 3.3Moz Au. Previous artisanal mining production is minor in scale and not formally recorded. No by-products have been modelled or are expected. No elements other than gold have been estimated.

The estimation block size is 20 m Y by 10 m X by 5 m Z, approximately half the sample spacing in the best drilled parts of the deposits. The search ellipses range from 160 to 320 m with a minimum of 8 and a maximum of 24 composites adopted. SMU units were not modelled. No assumptions have been made regarding the correlation of variables. The interpretation of the Min shear at Northeast Bankan was used as an anisotropy for the Leapfrog shells.

For the estimate of grades, high-grade cuts were applied to composites to reduce the influence of extreme outliers. These values, determined by statistical analysis including review of coefficient of variation values, histograms, log-probability plots, and mean-variance plots. The aim of choosing topcuts was to reduce the coefficient of variability without unduly affecting the overall mean grade of the various mineralised domains.

Standard model validation was completed using numerical methods (histogram and swath plots) and validated visually in section and 3D against the input raw drillhole data, composites, and blocks. Tonnages have been estimated on a dry basis.

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Sample Analysis Method

Samples were assayed using industry standard fire assaying with a 50 g charge; this method is a total method that should recover all gold in a sample.

Several commercial laboratories have been used, including SGS in Bamako, SGS in Ouagadougou, MSA in Yamoussoukro and BVI in Conakry. All use slightly different procedures, but typically the sample is dried, crushed to -2mm, split to 200g and pulverised to -75 microns, before a 50 g aliquot is taken for assay.

PDI insert routine blanks, certified reference materials and field duplicates into the sample stream submitted to the laboratories. The field duplicates are either second splits of chips (RC and aircore) or quarter core duplicates. The laboratories also insert their own CRMs and perform duplicate assays.

Analysis of this QAQC data demonstrated that the data is of acceptable quality to be used for resource estimation.

Estimation Methodology

The estimation block size is 20 m Y by 10 m X by 5 m Z, approximately half the sample spacing in the best drilled parts of the deposits. The search ellipses range from 160 to 320 m with a minimum of 8 and a maximum of 24 composites adopted. SMU units were not modelled. No assumptions have been made regarding the correlation of variables. The interpretation of the Min shear at Northeast Bankan was used as an anisotropy for the Leapfrog shells.

For the estimate of grades, high-grade cuts were applied to composites to reduce the influence of extreme outliers. These values, determined by statistical analysis including review of coefficient of variation values, histograms, log-probability plots, and mean-variance plots. The aim of choosing topcuts was to reduce the coefficient of variability without unduly affecting the overall mean grade of the various mineralised domains.

Standard model validation was completed using numerical methods (histogram and swath plots) and validated visually in section and 3D against the input raw drillhole data, composites, and blocks. Tonnages have been estimated on a dry basis.

Cut-off Grades

The resource is reported at a 0.5 g/t Au cutoff. Preliminary open pit economic assessments have suggested that for a bulk mining option the economic cutoff is likely to be in the range of 0.4-0.5 g/t Au, depending on the Au price assumed.

Mining and Metallurgical Methods and Parameters and Other Material factors

Open pit mining is considered as the appropriate method for future studies, and the Competent Person believes that there are reasonable prospects for eventual economic extraction based on the outputs of the Whittle optimisations completed. The key assumptions of the optimisations were:

• Mill throughput of 4Mtpa

• Metallurgical recovery of 94%

• Ore loss of 4% and dilution of 5%

• Base mining cost of US$1.92/t, incremented with depth

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• Processing costs of US$19.90-$24.73/t, depending on material type

• Gold price of US$1800/oz

• Discount rate of 5%.

The optimisations captured a large proportion of the mineralisation and was largely driven by the extent of the modelled high-grade domains.

A scoping level metallurgical testwork program was carried out on eleven samples with a total weight of 305 kg from both Northeast Bankan and Bankan Creek, representing softer saprolite and fresh rock mineralisation. All samples were quarter NQ diamond drill core apart from one saprolite sample of reverse circulation chips.

The scope of the test work program included: comminution testwork, optimisation of grind size and leaching characteristics, gravity concentration, and cyanide leaching tests.

The testwork program was completed by Metallurgy Pty Ltd in Perth, Western Australia. The main results were:

• The fresh ore is relatively hard, with a Bond Ball Mill Index of 18 to 25 kWh/t

• Optimum grind size is approximately 75 microns.

• The ore has a moderate proportion of gravity-recoverable gold, ranging from 13% to 37% for the samples.

• Using optimum leaching conditions, over 94% of the leach feed gold could be recovered in 24 hours, with a cyanide consumption of 0.7 – 0.9 kg/t and lime consumption of around 0.1 kg/t.

These results suggest that relatively high recoveries may be achievable using standard CIL technology.

No assumptions regarding possible waste and process residue disposal options have been made. Densities were applied according to the interpreted lithology and weathering state.

The Mineral Resource was classified as Inferred based on the level of geological understanding of the mineralisation, quality of samples, and wide drillhole spacing.

The classification reflects the overall level of confidence in mineralised domain continuity based the mineralisation drill sample data numbers, spacing and orientation. Overall mineralisation trends are reasonably consistent within the various lithotypes over numerous drill sections. The Mineral Resource classifications applied appropriately reflect the view of the Competent Person.

- END -

This announcement is authorised for release by Predictive Managing Director, Andrew Pardey.

For further information visit our website at www.predictivediscovery.com or contact:

Andrew Pardey Company Secretary Managing Director Ian Hobson E: Andrew.Pardey@predictivediscovery.com

Ian Hobson E: Ian.Hobson@predictivediscovery.com P : +61 8 9388 8290

Media Enquiries

Bobby Morse/Ariadna Peretz - Buchanan E: predictive@buchanan.uk.com

P: +44 (0) 20 7466 5000

Page 11 of 28

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COMPETENT PERSONS STATEMENT

The Mineral Resource estimates reported herein are based on information compiled by Mr Phil Jankowski, who is a member of The Australasian Institute of Mining and Metallurgy. Mr Jankowski is a full-time employee of CSA Global Pty Ltd and has sufficient experience relevant to the style of mineralisation and type of deposits being considered to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Jankowski consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The exploration results reported herein are based on information compiled by Mr Norm Bailie. Mr Bailie is a fulltime employee of the company and has sufficient experience relevant to the style of mineralisation and type of deposits being considered to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Bailie consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this announcement that relates to prior exploration results have been referenced to the original announcement date. The Company confirms that it is not aware of any new information or data that materially affects previous exploration results referred to in this announcement. The Company also confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the relevant original market announcements.

JORC TABLE 1

Section 1: Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as downhole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the _broad meaning of sampling. _	Samples were acquired by a mixture of aircore, reverse circulation and diamond drilling. The majority of samples are 1 m downhole, with diamond core sampling intervals breaking at lithological contacts where appropriate. Only reverse circulation and diamond drilling was used to estimate the resource.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	.
	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple(e.g. ‘reverse

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Criteria	JORC Code explanation	Commentary
	circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information
Drilling techniques	Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc.).	All data available as at 21stJune 2022 was used to estimate the resource for Northeast Bankan; this comprises 134 RC holes for 13,651 linear metres and 83 DD or RC/DDH holes for 38,665.81 linear metres. Core is orientated by a downhole orientation tool. Core diameters used are mostly NQ with minor HQ and HQ triple tube; 140 mm RC face samplingbits were used;and 90 mm aircore.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	Core recoveries were recorded by dividing the total length of core returned from each run by the length of the run. Overall core recoveries averaged 92%, with the poorest recoveries (averaging 82%) in the first 40 m of the drillholes. Overall RC recovery is very good at 96%, however samples in the first metre have lower than average recovery from the collaring process. A regularity of the recovery pattern downhole suggests considerable lag between the sample being generated at the hammer and reporting to the cyclone. Drillers do not always adhere to the metre marks on the mast, leading to randomly occurring overlength and underlength samples It is unlikely that overall the grade of the RC drill samples has been biased however the combination of regularly and randomly occurring sample weight variations will lead to a degradation of the localgrade estimate and a

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Criteria	JORC Code explanation	Commentary
		higher than necessary nugget, as well as increased inaccuracy in the spatial delimitation of ore waste boundaries.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	The splitters are regularly checked to ensure sample build up is minimised.
	Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	No relationship between sample recovery and grade has been analysed.
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	Holes have been logged for lithology, weathering, alteration, mineralization, and geological structures. Photographs have been taken of each core tray. The Competent Person considers that the level of detail is sufficient for the reporting of Mineral Resources.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.	The Competent Person considers that the availability of qualitative and quantitative logging has appropriately informed the geological modelling, including weathering and oxidation,water table level and rock type.
	The total length and percentage of the relevant intersections logged.	All drillhole intervals have been logged. The total meterage is 52,361.81 m.
Subsampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	Core was cut with a diamond saw. Routine samples were half-core, with predetermined diamond core duplicates being quarter-core.
	If non-core, whether riffled, tube sampled, rotary split, etc. and whether _sampled wet or dry. _	Reverse circulation and aircore drillholes were split using a cone sampler. The majority of chip samples are dryor onlyslightlydamp.
	For all sample types, the nature, quality and appropriateness of the samplepreparation technique.	The Competent Person considers these methods appropriate for this style of mineralisation.
	Quality control procedures adopted for all subsampling stages to maximise representivity of samples.	For reverse circulation and aircore samples, sample weights are recorded as are the weights of the rejects.

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Criteria	JORC Code explanation	Commentary
	Measures taken to ensure that the sampling is representative of the in- situ material collected, including for instance results for field duplicate/second-half sampling.	Field duplicate results for reverse circulation and diamond core demonstrated no bias in the sample results. There is a moderate scatter in the reverse circulation duplicate pairs and considerable scatter in the diamond duplicate pairs suggesting that the mineralisation is likely to be highly variable at a short scale, and this variability needs to be taken into account when planningfuture sampling programs.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	Sample sizes are considered to be appropriate to the grain size of the material being sampled.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.	Samples were assayed using industry standard fire assaying with a 50 g charge; this method is a total method that should recover all gold in a sample. Several commercial laboratories have been used, including SGS in Bamako, SGS in Ouagadougou, MSA in Yamoussoukro and BVI in Conakry. All use slightly different procedures, but typically the sample is dried, crushed to -2mm, split to 200g and pulverised to -75 microns, before a 50 galiquot is taken for assay.
	For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	Not applicable
	Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	PDI insert routine blanks, certified reference materials and field duplicates into the sample stream submitted to the laboratories. The field duplicates are either second splits of chips (RC and aircore) or quarter core duplicates. The laboratories also insert their own CRMs and perform duplicate assays. Analysis of this QAQC data demonstrated that the data is of acceptable quality to be used for resource estimation.

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Criteria	JORC Code explanation	Commentary
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.
	The use of twinned holes.	No twinned holes have been completed.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Drillhole logging is completed on paper sheets and manually entered into a database on site. The data is managed by a company employee, who checks for data validation. Assay results are returned electronically from the assay laboratory and are merged into the assay table of the database.
	Discuss any adjustment to assay data.	No adjustments or calibrations have been made to anyassaydata.
Location of data points	Accuracy and quality of surveys used to locate drillholes (collar and downhole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	Collar surveying is by contracted surveyors using DGPS enabled survey devices. Centimetric accuracy is achieved in the 3D positioning of drill collars and topographic features. Holes are downhole surveyed with gyroscopic tools; the Champ Gyro or the Reflex EZ Shot dependingon the contractor.
	Specification of thegrid system used.	All surveyingis completed on the WGS84grid.
	Quality and adequacy of topographic control.	The Competent Person considers that the surface is suitable for this Mineral Resource estimate.
Data spacing and distribution	Data spacing for reporting of Exploration Results.
	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.	The Competent Person believes the mineralised zones have sufficient geological and grade continuity to support the classification applied to the Mineral Resources given the current drill pattern.
	Whether sample compositing has been applied.	Drillholes were composited to 3 m downhole for saprolite and fresh mineralisation, and 1 m downhole for the laterite domain.
Orientation of data in relation to	Whether the orientation of sampling achieves unbiased sampling of possible	Most of the drilling at Northeast Bankan is orientated at a high angle to the dip and strike of the mineralisation.

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Criteria	JORC Code explanation	Commentary
geological structure	structures and the extent to which this is known, considering the deposit type.
	If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	At Northeast Bankan, early drilling programs were oriented to the west; when it was recognised that the mineralisation dips west, the drilling was switched to east drilling and most areas were re- drilled. An analysis of the data from east and west dipping holes showed: • The mean and median of the west dipping holes are higher than east dipping in the saprolite • In the saprolite, the composites in the west dipping holes are more variable • The west dipping holes in the saprolite have a larger population > 2 g/t Au • The mean and median of the west dipping holes are lower than east dipping in the fresh • In the saprolite, the composites in the west dipping holes are less variable. The west dipping data was filtered from the composite dataset before further processing, except for the laterite domain.
Sample security	The measures taken to ensure sample security.	Samples are stored onsite with a 24-hour security presence. Samples are bagged in polyweave sacks, sealed and then driven directly to the assay laboratory; the current laboratory used is SGS in Bamako, Mali which requires crossingan international border.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	No external audit of sampling techniques and data has been undertaken.

Section 2: Reporting of Exploration Results

	Criteria	JORC Code explanation		Commentary	Commentary	Commentary
	Mineral	Type, reference name/number,		The Bankan Property consists of four_Permis de Recherce_
	tenement and	location and ownership		Industrielle (Or). Details			are provided below.
	land tenure	including agreements or
	status	material issues with third parties such as joint ventures, partnerships, overriding			Tenement Name Kaninko	Area (km2) 98.2158	Holder Grant Date Mamou 3.10.19	Expiry Date 2.10.22
		royalties, native title interests, historical sites, wilderness or			Saman Bokoro	99.74845 99.9785	Mamou 11.6. 20 Kindia 9.11.20	10.6.23 8.11.23
							Page 17 of 28

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Criteria	JORC Code explanation	Commentary	Commentary	Commentary	Commentary	Commentary
	national park and environmental settings.	Argo	57.5422	Argo	24.10.18	23.10.21

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Criteria	JORC Code explanation	Commentary
		have been registered by the Ministry and are in process. •
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	No impediments are currently known.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	No previous significant modern exploration has been performed in the project area. Artisanal miners have extracted an unknown quantity of gold from shallow hand dug pits and shafts, with panning and loaming used to identifymineralized areas.
Geology	Deposit type, geological setting and style of mineralisation.	The Bankan deposits are hosted in Paleoproterozoic rocks of the Birimian Supergroup in the Siguiri Basin, which is host to several significant large active gold mining operations. Mineralization consists of wide zones of structurally controlled chlorite, silica and sericite alteration with associated pyrite and quartz veining, emplaced during deformation of anastomosing north-south shears on the hangingwall of a tonalitic felsic intrusive, which has intruded a mafic and sedimentary greenstone sequence. Weathering has formed a deep saprolite profile, with a pisolitic and nodular lateritic cover which hosts remobilised gold, generally above the primary deposits or dispersed a few tens of metres laterally.
Drillhole information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drillholes: • Easting and northing of the drillhole collar • Elevation or RL (Reduced Level – elevation above sea level in metres) of the drillhole collar • Dip and azimuth of the hole	Exploration Results are not being reported.

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Criteria	JORC Code explanation	Commentary
	• Downhole length and interception depth • Hole length.
	If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	Exploration Results are not being reported.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.	Exploration Results are not being reported.
	Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.	Exploration Results are not being reported.
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	Exploration Results are not being reported.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results.	Exploration Results are not being reported.
	If the geometry of the mineralisation with respect to the drillhole angle is known, its nature should be reported.	Exploration Results are not being reported.
	If it is not known and only the downhole lengths are reported,	Exploration Results are not being reported.

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Criteria	JORC Code explanation	Commentary
	there should be a clear statement to this effect (e.g. ‘downhole length, true width _not known’). _
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drillhole collar locations and appropriate sectional views.	Relevant maps and diagrams are included in the body of this report.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Exploration Results are not being reported.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	Not applicable.
Further work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step- _out drilling). _	Northeast Bankan is open at depth for the majority of their strike length. Further extension and infill drilling will be planned to improve the resource classification and add to the total resource.
	Diagrams clearly highlighting the areas of possible extensions,	Relevant maps and diagrams are included in the body of this report.

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Criteria	JORC Code explanation	Commentary
	including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

Section 3: Estimation and Reporting of Mineral Resources

Criteria	JORC Code explanation	Commentary
Database integrity	Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimationpurposes.	Data is manually entered onsite into Excel spreadsheet files, using a standardised format..
	Data validation procedures used.	The Competent Person checked the drillhole files for errors prior to Mineral Resource estimation. The Competent Person found no material errors and deemed the database was fit for the purpose of Mineral Resource estimation.:
Site visits	Comment on any site visits undertaken by the Competent Person and the outcome of those visits.	The Competent Person visited the site from 10th to 15th June 2022, and inspected: • The general site layout, including the NE Bankan and Bankan Creek prospects, Bankan village and surrounding areas • Diamond core drilling • Drillhole setup • Core orientation and markup • Core logging • Core sampling • Density measurement procedure • PLT measurement procedure • XRF measurement procedure • RC drilling • RC sampling • Aircore drilling and sampling • Auger drilling and sampling • Sample dispatch

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Criteria	JORC Code explanation	Commentary
		• Core and RC retention bag storage • Pulp storage
	If no site visits have been undertaken, indicate why this is the case.
Geological interpretation	Confidence in (or conversely, the uncertainty of) the geological interpretation of the mineral deposit.	All drillholes have been geologically logged for weathering and lithology. A standardisation and relogging program in April 2021 ensured consistency of logging and allowed lithologies to be simplified into a few main types.
	Nature of the data used and of any assumptions made.	No material assumptions have been made which affect the Mineral Resource reported herein.
	The effect, if any, of alternative interpretations on Mineral Resource estimation.	The Competent Person is confident any alternative interpretations would result in globally immaterial differences in the Mineral Resource estimate.
	The use of geology in guiding and controlling Mineral Resource estimation. The factors affecting continuity both of grade and geology.	The Northeast Bankan interpreted anastomosing shear system has been used as a primary control in the interpretation of the mineralised domains. The High Grade domain is located at and in the immediate footwall of the Main Shear
Dimensions	The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource.	The Northeast Bankan resource covers a strike length of approximately 1, 500 m, and has been estimated to -145 m RL, approximately 600 m below the natural surface. The plan width varies from 50 m to more than 220 m wide. The laterite mineralisation is near the natural surface, with saprolite mineralisation directly below the base of the laterite.
Estimation and modelling techniques	The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen, include a description of	Gold grades have been estimated using Ordinary Kriging using Surpac software. For Northeast Bankan, three nested grade domains were defined in the saprolite and fresh mineralisation using Leapfrog software, at nominal 3 g/t Au (High Grade), 0.5 g/t Au (Medium Grade) and 0.3 g/t Au (Low Grade) cutoffs from 3 m downhole composites. For the laterite mineralisation,a 0.3g/t Au cutoff

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Criteria	JORC Code explanation	Commentary
	computer software and parameters used	domain was defined from 1 m downhole composites. These domains were used as hard boundaries. High Grade and Medium Grade composites were cut to 40 g/t Au, low Grade to 7g/t Au and laterite to 15 g/t Au. Search ellipses and maximum composites were chosen following Kriging Neighbourhood Analysis.
	The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data.	The previous resource estimate for Northeast Bankan was dated 30thSeptember 2021 and totalled Inferred 65.6Mt@ 1.57g/t for 3.3Moz Au. Previous artisanal mining production is minor in scale and not formallyrecorded.
	The assumptions made regarding recovery of by-products.	No by-products have been modelled or are expected.
	Estimation of deleterious elements or other non-grade variables of economic significance (e.g. sulphur for acid mine _drainage characterisation). _	No elements other than gold have been estimated.
	In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed.	The estimation block size is 20 m Y by 10 m X by 5 m Z, approximately half the sample spacing in the best drilled parts of the deposits. The search ellipses range from 160 to 320 m with a minimum of 8 and a maximum of 24 composites adopted.
	Any assumptions behind modelling of selective mining units.	SMU units were not modelled.
	Any assumptions about correlation between variables	No assumptions have been made regarding the correlation of variables.
	Description of how the geological interpretation was used to control the resource estimates.	The interpretation of the Min shear at Northeast Bankan was used as an anisotropy for the Leapfrogshells.
	Discussion of basis for using or not using grade cutting or capping.	For the estimate of grades, high-grade cuts were applied to composites to reduce the influence of extreme outliers. These values, determined by statistical analysis including review of coefficient of variation values, histograms,log-probability plots,and mean-

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Criteria	JORC Code explanation	Commentary
		variance plots. The aim of choosing topcuts was to reduce the coefficient of variability without unduly affecting the overall mean grade of the various mineralised domains.
	The process of validation, the checking process used, the comparison of model data to drillhole data, and use of reconciliation data if available.	Standard model validation was completed using numerical methods (histogram and swath plots) and validated visually in section and 3D against the input raw drillhole data, composites, and blocks.
Moisture	Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.	Tonnages have been estimated on a dry basis.
Cut-off parameters	The basis of the adopted cut-off grade(s) or quality parameters applied.	The resource is reported at a 0.5 g/t Au cutoff. Preliminary open pit economic assessments have suggested that for a bulk mining option the economic cutoff is likely to be in the range of 0.4-0.5 g/t Au, depending on the Au price assumed.
Mining factors or assumptions	Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, external) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential mining methods, but the assumptions made regarding mining methods and parameters when estimating Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the mining assumptions made.	Open pit mining is considered as the appropriate method for future studies, and the Competent Person believes that there are reasonable prospects for eventual economic extraction based on the outputs of the Whittle optimisations completed. The key assumptions of the optimisations were: • Mill throughput of 4Mtpa • Metallurgical recovery of 94% • Ore loss of 4% and dilution of 5% • Base mining cost of US$1.92/t, incremented with depth • Processing costs of US$19.90-$24.73/t, depending on material type • Gold price of US$1800/oz • Discount rate of 5%. The optimisations captured a large proportion of the mineralisation and was largely driven by the extent of the modelled High Grade domains.

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Criteria	JORC Code explanation	Commentary
Metallurgical factors or assumptions	The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions regarding metallurgical treatment processes and parameters made when reporting Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the metallurgical assumptions made.	A scoping level metallurgical testwork program was carried out on eleven samples with a total weight of 305 kg from both Northeast Bankan and Bankan Creek, representing softer saprolite and fresh rock mineralisation. All samples were quarter NQ diamond drill core apart from one saprolite sample of reverse circulation chips. The scope of the test work program included: comminution testwork, optimisation of grind size and leaching characteristics, gravity concentration, and cyanide leaching tests. The testwork program was completed by Metallurgy Pty Ltd in Perth, Western Australia. The main results were: • The fresh ore is relatively hard, with a Bond Ball Mill Index of 18 to 25 kWh/t • Optimum grind size is approximately 75 microns. • The ore has a moderate proportion of gravity- recoverable gold, ranging from 13% to 37% for the samples. • Using optimum leaching conditions, over 94% of the leach feed gold could be recovered in 24 hours, with a cyanide consumption of 0.7 – 0.9 kg/t and lime consumption of around 0.1 kg/t. These results suggest that relatively high recoveries may be achievable using standard CIL technology.
Environmental factors or assumptions	Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider the potential environmental impacts of the mining and processing operation. While at this stage the determination of potential environmental impacts, particularly for a greenfields project, may not always be well advanced, the	No assumptions regarding possible waste and process residue disposal options have been made.

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Criteria	JORC Code explanation	Commentary
	status of early consideration of these potential environmental impacts should be reported. Where these aspects have not been considered, this should be reported with an explanation of the environmental assumptions made.
Bulk density	Whether assumed or determined. If assumed, the basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples.	The density of selected core samples are measured using an immersion method. Samples of 10-30cm of competent core a re selected, every 30-50m in waste lithologies and every 5m in shear zones. The samples are oven dried, then weighed in air and then immersed in water. Friable. Oxidised or porous samples are first wax coated, with the mass of the wax recorded and taken into account for the density calculation using Archimedes’ Principle. A total of 771 measurements have been recorded. The densities applied are fresh Tonalite: 2.8; fresh mafic: 2.9; fresh metasediment: 2.6; saprock, 2.3; saprolite and mottled zone: 1.6; laterite:2.2. These are typical values for the logged rock types.
	The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs, porosity, etc.), moisture and differences between rock and alteration zones within the deposit.
	Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.	Densities were applied according to the interpreted lithology and weathering state.
Classification	The basis for the classification of the Mineral Resources into varying confidence categories.	The Mineral Resource was classified as Inferred based on the level of geological understanding of the mineralisation, quality of samples, and wide drillhole spacing.
	Whether appropriate account has been taken of all relevant factors (i.e. relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology	The classification reflects the overall level of confidence in mineralised domain continuity based the mineralisation drill sample data numbers, spacing and orientation. Overall mineralisation trends are reasonablyconsistent

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Criteria	JORC Code explanation	Commentary
	and metal values, quality, quantity _and distribution of the data). _	within the various lithotypes over numerous drill sections.
	Whether the result appropriately reflects the Competent Person’s view of the deposit.	The Mineral Resource classifications applied appropriately reflect the view of the Competent Person.
Audits or reviews	The results of any audits or reviews of Mineral Resource estimates.	Internal audits were completed by CSA Global which verified the technical inputs, methodology, parameters and results of the estimate.
Discussion of relative accuracy/ confidence	Where appropriate, a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the estimate.	The accuracy of the Mineral Resource is communicated through the classification assigned. The Mineral Resource been classified in accordance with the JORC Code (2012 Edition) using a qualitative approach. All factors that have been considered have been adequately communicated in Section 1 and Section 3 of this table.
	The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used.	The Mineral Resource Statement relates to a global estimate of in-situ tonnes and grade. It is suitable for reporting as a resource, however the relatively wide sampling grid has produced a model with only moderately well estimated individual blocks. No reliance should be placed on individual block grade estimates.
	These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.	There has been no previous commercial production from the property. Previous artisanal mining production is minor in scale and not formallyrecorded.