PREDICTIVE DISCOVERY LIMITED — Capital/Financing Update 2024

Dec 15, 2024

16 December 2024

POSITIVE RESULTS FROM SOUNSOUN RESOURCE DRILLING

Predictive Discovery Limited (ASX:PDI) (“PDI” or the “Company”) is pleased to announce further drilling results from the Argo area of its 5.38Moz[1] Bankan Gold Project in Guinea (“the Project”). Results are from 20 holes totalling 3,415m drilled at the Sounsoun target, where PDI is conducting resource definition drilling to define a maiden Mineral Resource.

HIGHLIGHTS

• Drilling at Sounsoun continues to define mineralisation associated with an E-W trending shear zone. Best new results include:

• 6m @ 19.98g/t from 13m, including 2m @ 53.92g/t from 15m;

• 13m @ 3.28g/t from 132m, including 2m @ 10.98g/t from 135m;

• 15m @ 1.34g/t from 49m;

• 6m @ 1.78g/t from 170m;

• 6.55m @ 1.43g/t from 211.2m;

• 12m @ 0.58g/t from 141m and 1m @ 28.19g/t from 157m;

• 7m @ 1.13g/t from 8m; and

• 6m @ 1.26g/t from 80m.

• Results from a further 10 holes totalling 1,841m are pending from Sounsoun. Further drilling at the Sounsoun target will be considered based on these results and to support the maiden Mineral Resource estimate planned for Q1 2025.

• Resource definition drilling has resumed at Fouwagbe to support a maiden Mineral Resource estimate in Q1 2025. Exploration drilling in the Argo and Bokoro South areas is continuing.

PDI’s Managing Director, Andrew Pardey, said:

“We remain focused on advancing PDI’s regional drilling programs as part of our strategy to identify and define new deposits within the highly prospective Bankan Gold Project.”

“We are very pleased with the latest results from resource development drilling at Sounsoun, which include some of the best intercepts so far at this target. These results further define the mineralisation associated with a shear zone, which is demonstrating excellent continuity over a strike of at least 300m so far and is open at depth.”

“PDI is on track to release maiden Mineral Resource estimates in the first quarter of 2025 for Argo targets, Sounsoun and Fouwagbe, as well as for the 800W target in the NEB area.”

1 Refer to Compliance Statement at the end of this announcement.

Predictive Discovery Limited ABN 11 127 171 877 Suite 8, 110 Hay Street, Subiaco WA 6008 T +61 8 9216 1000

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SUMMARY OF DRILLING RESULTS

Results in this announcement are from resource definition drilling at Sounsoun in the Argo area (refer to Figure 1), comprising 20 holes totalling 3,415m drilled.

Table 1: Summary of drill holes reported in this announcement

Location	**Drill type **	Holes	Metres
Sounsoun (Resource Definition)	DD	7	1,518
	RC	13	1,897
	Total	20	3,415
Total		20	3,415

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Figure 1: Summary of targets included in this announcement

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SOUNSOUN DRILLING RESULTS

The Sounsoun target is defined by a 1.8km long, NE-SW orientated auger anomaly in the south-western corner of the Argo permit and on the Argo South Trend. Results from previous resource definition drilling defined an E-W trending shear zone over a 1km strike at the northern end of the target area, which returned positive results.

Additional resource definition drilling has been completed at Sounsoun, which focused mainly on infilling the drill pattern in the central area of the shear zone where the mineralisation is consistent over a 300m strike and open at depth. Within the 20 holes included in this announcement, 5 holes totalling 1,018m are from the previous drilling program, with multiple positive intercepts recorded as shown in Figure 2. Results from a further 10 holes for 1,841m drilled are pending.

The drill hole orientation has been revised to N-S for the current program to suit the orientation of the shear zone, which plunges to the north along an E-W trend. Previous drilling at Sounsoun was conducted on a NW-SE orientation.

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Figure 2: Sounsoun drill plan

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Cross Section A-A’

Located in the central part of the E-W trending corridor, three new holes were drilled and returned favourable results. RBNRC0115 recorded several intercepts in oxide, including a strong intercept of 6m @ 19.98g/t from 13m (including 2m @ 53.92g/t from 15m). Based on other drilling in the vicinity of this intercept, mineralisation appears to be localised supergene enrichment. RBNRC0115 also recorded 4m @ 0.41g/t from 88m in the main shear zone.

Significant intercepts were also recorded in the strongly altered main shear zone down dip of RBNRC0115. RBNRC0016 returned 13m @ 3.28g/t from 132m (including 2m @ 10.98g/t from 135m) and RBNDD0029 returned 3m @ 0.63g/t from 188m. Mineralisation remains open at depth beneath previous result of 11m @ 1.25g/t from 208.5m in RBNDD0007.[2]

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Figure 3: Sounsoun cross section A-A’ (+/-20m)

2 ASX announcement – Fouwagbe & Sounsoun Progress to Resource Development (12 June 2024).

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Cross Section B-B’

To the east, three new holes were drilled on cross section B-B’. Significant intercepts were again recorded in the main shear zone. RBNRC0113 recorded intercepts of 6m @ 0.77g/t from 44m and 1m @ 2.37g/t from 59m, just up-dip of the previous result of 9m @ 1.04g/t from 61m.[3] Further down-dip, RBNRC0114 returned 6m @ 1.78g/t from 170m and 3m @ 1.24g/t from 179m, and RBNDD0028 recorded a best intercept of 6.55m @ 1.43g/t from 211.2m in sheared tonalite associated with quartz veining. Mineralisation remains open at depth.

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Figure 4: Sounsoun cross section B-B’ (+/-20m)

3 ASX announcement – Encouraging Initial Argo RC Results (29 August 2023).

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Cross Section C-C’

Five new holes have been drilled on cross section C-C’ towards the eastern edge of the currently defined mineralised area. RBNRC0123 returned a strong intercept of 15m @ 1.34g/t from 49m in the main shear zone and, further down-dip, BNERC0124 recorded 2m @ 1.96g/t from 98m. Three holes are pending on this section to test mineralisation at depth.

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Figure 5: Sounsoun cross section C-C’ (+/-20m)

Other Sounsoun Results

Positive intercepts were also received from other holes in the central area of the E-W shear zone. Along the main shear, intercepts of 12m @ 0.58g/t from 141m and 1m @ 28.19g/t from 157m were encountered in RBNRC0118 and RBNRC0120 recorded an intercept of 6m @ 1.26g/t from 80m. In oxide, RBNRC0121 returned 7m @ 1.13g/t from 8m.

Three diamond holes drilled in the previous program to test the shear zone further along strike to the east and west returned no significant intercepts. However, aeromagnetic geophysical interpretations suggest this E-W structure continues eastwards for several kilometres. Future exploration will include drilling programs aimed at identifying extensions to the east of the recently discovered mineralisation.

Two holes drilled to the south-west to follow up previous AC results within the broader auger anomaly recorded minor intercepts.

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NEXT STEPS

PDI’s drilling efforts are currently focused on regional areas to the north of the NEB and BC deposits, which host the Project’s current 5.38Moz Mineral Resource.[4] Resource development drilling has recently resumed at Fouwagbe in the Argo area, to infill the drill pattern around existing holes and test extensions and other target areas. Further drilling at both Sounsoun and Fouwagbe will be assessed based on results with a view to supporting the maiden Mineral Resource estimates which are planned for the first quarter of 2025.

Earlier stage regional exploration programs are continuing at Argo and the southern part of the Bokoro permit to further develop the pipeline of targets moving through the exploration phases.

- END -

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

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

Investor Enquiries Media Enquiries (UK/Global) Media Enquiries (Australia) Brad Milne Bobby Morse/George Pope Sam Macpherson Corporate Development Manager Burson Buchanan VECTOR Advisors E: brad.milne@predictivediscovery.com E: predictive@buchanancomms.co.uk E: smacpherson@vectoradvisors.au P: +61 8 9216 1000 P: +44 (0) 20 7466 5000 P: +61 401 392 925

4 Refer to Compliance Statement at the end of this announcement.

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ABOUT PREDICTIVE DISCOVERY

PDI’s strategy is to identify and develop gold deposits within the Siguiri Basin, Guinea. The Company’s key asset is the Tier -1 Bankan Gold Project. A Mineral Resource of 5.38Moz has been defined to date at the NEB (4.89Moz) and BC (487Koz) deposits, 6F[5] making Bankan the largest gold discovery in West Africa in a decade.

PDI recently completed a Pre-Feasibility Study (“PFS”) and Environmental & Social Impact Assessment, which are crucial steps to secure a mining permit for the Project. The PFS outlined a 269kozpa operation over 12 years, with a maiden Ore Reserve of 3.05Moz and strong financials.[5]

The Bankan Project is highly prospective for additional discoveries. PDI is also exploring targets near the NEB and BC deposits, and regionally to the north along the 35km gold super structure which runs through the permits.

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Figure 6: Bankan Project deposits and targets

COMPETENT PERSONS STATEMENT

The Exploration Results reported herein are based on information compiled by Mr Franck Bizouerne, who is a member of the European Federation of Geologists. Mr Bizouerne is a full-time 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 Bizouerne consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

COMPLIANCE STATEMENT

The information in this announcement that relates to the previous mineral resource estimate is from the announcement titled “Bankan Mineral Resource increases to 5.38Moz” dated 7 August 2023. The information in this announcement that relates to the previous ore reserve estimate is from the announcement titled “PFS Delivers Attractive Financials & 3.05Moz Ore Reserve” dated 15 April 2024.

The estimates are summarised in the tables below. The Company it is not aware of any new information or data that materially affects the mineral resource or ore reserve estimates contained in this announcement and all material assumptions and technical parameters underpinning the mineral resource and ore reserve estimates continue to apply and have not materially changed.

5 Refer to Compliance Statement at the end of this announcement.

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Table 2: Bankan Gold Project Mineral Resource Estimate

Deposit	Classification	Cut-off (g/t Au)	Tonnes (Mt)	Grade (g/t Au)	Contained (Koz Au)
NEB Open Pit	Indicated	0.5	78.4	1.55	3,900
	Inferred	0.5	3.1	0.91	92
	Total		81.4	1.53	3,993
NEB Underground	Inferred	2.0	6.8	4.07	896
NEB Total			88.3	1.72	4,888
BC Open Pit	Indicated	0.4	5.3	1.42	244
	Inferred	0.4	6.9	1.09	243
BC Total			12.2	1.24	487
Total Bankan Project			100.5	1.66	5,376

Table 3: Bankan Gold Project Ore Reserve Estimate

Deposit	Mining Method	Classification	Cut-off (g/t Au)	Tonnes (Mt)	Grade (g/t Au)	Contained (Koz Au)
NEB	Open Pit	Probable	0.5	46.2	1.41	2,101
	Underground	Probable	1.7	7.1	3.24	739
	Total			53.3	1.66	2,840
BC	Open Pit	Probable	0.4	4.3	1.48	207
	Total			4.3	1.48	207
Total Open Pit				50.6	1.42	2,308
Total Underground				7.1	3.24	739
Total Bankan Project				57.7	1.64	3,047

The production targets and forecast financial information referred to in this announcement is from the announcement titled “PFS Delivers Attractive Financials & 3.05Moz Ore Reserve” dated 15 April 2024. The Company confirms that all the material assumptions underpinning the production targets and forecast financial information derived from the production targets in the previous announcement continue to apply and have not materially changed.

The information in this announcement that relates to the previous exploration results have been cross referenced to the original announcement or are from announcements listed in the table below. 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.

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Date
	Announcement	Date	Announcement
3 December 2024	800W Mineralised Zone Extends AlongStrike	19 October 2021	NE Bankan High-Grade Gold Zone Reinforced and Extended
27 November 2024	Additional High-Grade Intercepts at Fouwagbe	30 September 2021	3.65 Million-Ounce Bankan Maiden Mineral Resource Estimate
30 September 2024	Argo and Bokoro DrillingResults	23 September 2021	28m@12.1g/t Gold 1.5 Km from NE Bankan
8 August 2024	NEB and BC Area DrillingPrograms Continue to Deliver	16 September 2021	High-Grade Gold Zone Confirmed UpTo 400m Vertical Depth
16 July2024	StrongDrillingResults and PermittingUpdate	24 August 2021	StrongWidths and Grades from Bankan Creek Resource Drilling
27 June 2024	BC Resource Definition DrillingReturns Positive Intercepts	02 August 2021	More Broad Widths and High-Grades from Bankan Drilling
12 June 2024	Fouwagbe & Sounsoun Progress to Resource Development	19 July2021	Bonanza Gold Grades as High-Grade Zone Is Revealed at Bankan
24 April 2024	BC East DrillingConfirms Previous Positive Results	17 June 2021	Broad Gold Intercepts from Bankan Creek and NE Bankan
15 April 2024	PFS Delivers Attractive Financials & 3.05Moz Ore Reserve	03 June 2021	NE Bankan Extends to Depth with StrongGold Grades
9 April 2024	Excellent Results from Argo Central Trend	31 May2021	6m at 32g/t Gold from First Drillingat Koundian,Guinea
1 February2024	Sounsoun,SB and SEB Targets Advanced byLatest Drilling	13 May2021	Widespread & High-Grade Gold from Bankan Regional Auger
11 December 2023	Drillingat Bankan Delivers More Positive Results	06 May2021	NE Bankan Central Gold Zone Extendingto South at Depth
24 October 2023	PromisingResults from Across the Bankan Gold Project	28 April 2021	Bankan AeromagManyNew Drill Targets Along35km Structure
12 September 2023	Further StrongDrillingResults from the NEB & BC Area	15 April 2021	NE Bankan Gold Mineralisation SubstantiallyExtends at Depth
29 August 2023	EncouragingInitial Argo RC Results	31 March 2021	NE Bankan Grows To 300m Wide. High Grade Gold from Surface
7 August 2023	Bankan Mineral Resource Increases to 5.38Moz	15 March 2021	ExceptionallyHigh Grades,Thick Intercepts from NE Bankan
7 August 2023	Resource Definition DrillingResults	05 March 2021	Substantial Oxide Gold Zone Emergingat NE Bankan Project
19 June 2023	EncouragingDrill Results at NEB,BC and NearbyTargets	25 February2021	More Depth Extensions from DrillingBankan Gold Discoveries
19 June 2023	Argo Target Upgraded byRecent Auger Results	11 February2021	High Grade Drill Results Extend Bankan Ck Discoveryto North
5 June 2023	Positive Resource DrillingResults from NEB and BC	28 January2021	Outstanding,Wide Gold Intercept Grows Bankan at Depth
22 May2023	Multiple High PriorityDrill Targets Identified at Argo	22 January2021	Bankan Gold Project DrillingAccelerated
6 April 2023	RC DrillingUnderwayat Near-Resource Targets	27 November 2020	Exploration Update - Bankan Gold Project,Guinea
4 April 2023	Infill DrillingResults	20 October 2020	Exploration Update - Bankan-2 Gold DrillingUnderway
21 February2023	High-Grade Intercepts Extends Underground Mineralisation	13 October 2020	92m at 1.9g/t Gold - Diamond DrillingExpands Bankan Project
06 February2023	50% Of NEB’S 3.5Moz Open Pit Resource Upgraded to Indicated	25 September 2020	NE Bankan Gold Deposit Grows with More StrongDrill Results
30 January2023	OutstandingInfill DrillingResults Continue	10 September 2020	55m at 2.94g/t Gold-Broad True Widths Confirmed At Bankan
30 November 2022	PromisingNear-Resource Drillingand Geophysics Results	03 September 2020	NE Bankan Now 1.6km Longwith Possible Parallel Gold Zone
10 November 2022	Positive Infill Drill Results & Grade Control Program Complete	27 August 2020	Bankan Creek Gold Zone Further Expanded
29 September 2022	High Grade Gold 200m Below NE Bankan’s 3.9Moz Resource	19 August 2020	StrongWide Gold Intercepts from Bankan Creek and NE Bankan
25 August 2022	Impressive Gold Hits Continue At 4.2Moz Bankan Gold Resource	07 August 2020	OutstandingHigh-Grade Gold Results from NE Bankan,Guinea
01 August 2022	4.2Moz Bankan Gold Resource	31 July2020	Diamond DrillingConfirms Gold at Depth at NE Bankan,Guinea
15 June 2022	Deepest Hole to Date Intercepts Gold 630m Down Dip	17 July2020	Impressive 1st RC Drill Results Grow NE Bankan Discovery
19 May2022	60,000m Drill Program Underwayat Bankan & KeyAppointments	30 June 2020	NE Bankan DiscoveryGuinea Extended 30% To 1.3km In Length
27 April 2022	41.5m@5.2g/t Au Intersected at NE Bankan	27 May2020	Kaninko Auger Results Double Gold-Mineralised Strike Length
02 February2022	Multi-Deposit Potential Grows with StrongResults	07 May2020	DrillingUpdate - Kaninko Project,Guinea
13 January2022	33m@4.5g/t Au at NE Bankan,Guinea	30 April 2020	Final Drill Results,Bankan Creek,Kaninko Project,Guinea
16 December 2021	Bankan Project Grows with New Gold Discoveries	27 April 2020	44m at 2.06g/t Gold from Bankan Creek,Kaninko,Guinea
09 December 2021	Predictive Intersects 34m@5.5g/t Au at NE Bankan	15 April 2020	OutstandingDrill Results from New Gold Discoveryin Guinea
22 November 2021	Further Depth Extension to Bankan High-Grade Gold	07 April 2020	Guinea Ground Acquired Near Plus-2 Million Oz Gold Deposits
03 November 2021	High-Grade Gold Zone Extended Below Resource Pit Shell	19 March 2020	High-Grades-Broad Widths from Guinea Auger-TrenchingProgram
28 October 2021	AC DrillingIdentifies New Gold Prospects at Bankan	26 February2020	UpTo 8g/t Gold from Power Auger Drillingin Guinea

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APPENDIX 1: SOUNSOUN RESOURCE DEFINITION DRILLING RESULTS

		UTM 29N	UTM 29N	RL	Hole	Hole	Hole		0.5g/tgold cut-off	0.5g/tgold cut-off
Hole No.	Hole Type	East	North	(GPS)	azimuth	dip	depth	From	Interval	Au g/t	GM
Sounsoun
RBNDD0022	DD	391,860	1,188,362	390	135.7	-60.0	221	49	1	1.04	1
								68	1	0.53	1
								79	1	1.03	1
								154	1	1.13	1
RBNDD0023A	DD	392,051	1,188,473	398	132.6	-60.0	177	27	1	0.78	1
								90	1	1.62	2
								97	1	3.94	4
								148	4	0.68	3
RBNDD0024	DD	391,948	1,189,098	396	136.7	-61.6	220		No significant intercepts
RBNDD0025	DD	391,774	1,189,133	387	135.5	-61.5	202		No significant intercepts
RBNDD0026	DD	392,930	1,189,053	407	134.2	-60.5	199		No significant intercepts
RBNDD0028	DD	392,519	1,189,158	426	180.2	-60.5	250	177.35	1	0.79	1
								201	2	0.59	1
								211.2	6.55	1.43	9
								224	1.7	0.55	1
RBNDD0029	DD	392,479	1,189,138	425	180.1	-61.3	250	108	1	0.67	1
								124	1	1.01	1
								188	3	0.63	2
RBNRC0112	RC	392,400	1,189,098	421	175.8	-62.4	150	42	4	0.68	3
								82	1	0.79	1
								144	1	0.57	1
RBNRC0113	RC	392,537	1,189,031	420	179.2	-60.7	100	20	2	0.55	1
								44	6	0.77	5
								59	1	2.37	2
RBNRC0114	RC	392,522	1,189,119	423	182.6	-61.0	204	92	1	1.27	1
								133	1	1.44	1
								170	6	1.78	11
								179	3	1.24	4
RBNRC0115	RC	392,480	1,189,058	420	179.0	-60.3	110	13	6	19.98	120
								27	3	0.64	2
								33	1	0.63	1
								39	1	0.76	1
								88	4	0.41	2
RBNRC0116	RC	392,482	1,189,100	421	178.0	-61.9	175	45	4	0.70	3
								55	1	1.58	2
								109	1	0.64	1
								132	13	3.28	43
RBNRC0117	RC	392,438	1,189,039	419	179.0	-60.3	100	39	1	0.77	1
								43	1	2.95	3
								58	3	0.53	2
RBNRC0118	RC	392,441	1,189,118	423	179.5	-60.6	200	87	1	2.05	2
								124	1	0.67	1
								141	12	0.58	7
								157	1	28.19	28
								161	1	0.66	1
RBNRC0119	RC	392,572	1,188,971	421	180.2	-60.5	108	88	1	0.50	1
								92	1	0.83	1
RBNRC0120	RC	392,572	1,189,052	419	179.1	-59.8	200	80	6	1.26	8
RBNRC0121	RC	392,612	1,188,991	419	181.1	-59.2	100	8	7	1.13	8
								24	1	0.51	1
RBNRC0122	RC	392,613	1,189,112	420	180.9	-60.1	200	180	1	1.29	1
RBNRC0123	RC	392,653	1,189,013	417	180.7	-60.3	100	40	1	1.18	1
								49	15	1.34	20
RBNRC0124	RC	392,652	1,189,052	417	176.1	-61.0	150	98	2	1.96	4

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APPENDIX 2: JORC CODE TABLE 1

	Section 1: Sampling Techniques and Data	Section 1: Sampling Techniques and Data
Criteria	JORC Code Explanation	Commentary
Sampling Technique	Nature and quality of sampling (eg 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 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 (eg ‘reverse 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 (eg submarine nodules) may warrant disclosure of detailed information.	Samples assayed were cut diamond drill (“DD”) core and reverse circulation (“RC”) and aircore (“AC”) drill chips. Core was cut in half with a core saw where competent and with a knife in soft saprolite in the upper sections of the DD holes. One metre RC chip samples were riffle split producing samples which weighed 2-3kg for submission to the assay laboratory. AC drill samples were collected at 1m intervals and submitted as 2m interval composites. For each 1m sample, an approximate 1 to 1.5 kg sub- sample was riffle split and combined to obtain an approximate 2 to 3 kg “2m-composite” sample for laboratory analysis. Sampling was supervised by qualified geologists. The majority of samples are 1m downhole, with diamond core sampling intervals breaking at lithological contacts where appropriate. All samples were dried, crushed and pulverised at the SGS laboratory in Bamako to produce a 50g fire assay charge with Au analysed by FAA505. Any samples which returned >100gt were re-assayed using gravimetric method GO FAG50V. Duplicate samples were also retained for re-assay.
Drilling	Drill type (eg core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg 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).	DD holes included in this announcement were from a EDM2000 multi- purpose rig. Diamond drilling is a combination of PQ, HQ and NQ core. Core was oriented using WELLFORCE orientation tools. RC/AC holes included in this announcement were from a Thor 5000 rig and EDM2000 rig.
Drill Sample Recovery	Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. 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.	Core recoveries were recorded by dividing the total length of core returned from each run by the length of the run. Overall core recoveries average around 92%, with the poorest recoveries (averaging 82%) in the first 40m of the drillholes. Overall RC and AC recovery is very good at 90%. However, samples in the first metre have lower than average recovery from the collaring process. Drill holes with poor recoveries were re-drilled within a radius of around 3 to 5m from the initial collar. 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. The splitters are regularly checked and cleaned to ensure sample build up is minimised. The RC and AC rig cyclones are regularly cleaned (several times during drilling and between drilling) in order to minimise sample accumulation and contamination, and to increase the recovery rate. No relationship between sample recovery and grade has been analysed. It is unlikely that 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.

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Logging	Whether core and chip samples have been geologically and geotechnical logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean/Trench, channel, etc) photography. The total length and percentage of the relevant intersections logged.	All drill samples were logged systematically for lithology, weathering, alteration, veining, structure and minor minerals. Minor minerals were estimated quantitively. 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. Photographs have been taken of each core tray and chip tray. A WELLFORCE core orientation device was employed on all drilled core enabling orientated structural measurements to be taken. The Competent Person considers that the level of detail is sufficient for the reporting of Mineral Resources.
Sub-Sampling Technique and Sample Preparation	If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. 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. Whether sample sizes are appropriate to the grain size of the material being sampled.	The DD samples were collected by longitudinally splitting core using a core saw or a knife where core was very soft and clayey. Routine samples were half-core, with predetermined diamond core duplicates being quarter-core. The sampling method is considered adequate for a DD program of this type. The RC/AC samples were collected by riffle splitting 2-3kg from 1m 30kg bulk samples collected directly from the cyclone attached to the drill rig. Sample quality and condition are logged critically and any loss of sample integrity will trigger the hole being immediately stopped. One blind field duplicate is inserted into the sample stream and assayed routinely. The sampling procedures are industry standard. RC/AC sample weights are recorded immediately after collection from the cyclone. Field duplicate results demonstrated no bias in the sample results. There is 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. 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. 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. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	All samples were assayed by SGS. Analysis of gold is by fire assay technique using SGS method FAA505 with a lower detection limit of 5ppb Au. Any samples with gold values exceeding 10g/t Au were re-assayed using SGS method FAA515 with a detection limit of 0.01g/t Au. Any samples with gold values exceeding 100g/t Au were re-assayed using gravimetric method GO FAG50V. Duplicate samples were also retained for re-assay. Field duplicates, standards and blank samples were each submitted in sequence every 15 samples. Diamond core duplicates were obtained by cutting the half core sample into two quarter core samples. As samples are not homogenised, some variation is expected. Duplicate and standards analysed were all within acceptable limits of expected values. Analysis of this QAQC data demonstrated that the DD/RC data is of acceptable quality to be used for Mineral Resource estimation.

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Verification of Sampling and Assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. The verification of significant intersections by either independent or alternative company personnel. Discuss any adjustment to assay data.	At this stage, the intersections have not been verified independently. No twin holes have been conducted. 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. No adjustments or corrections have been made to any assay interval data. All intercepts are reported as drilled.	At this stage, the intersections have not been verified independently. No twin holes have been conducted. 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. No adjustments or corrections have been made to any assay interval data. All intercepts are reported as drilled.
Location of Data points	Accuracy and quality of surveys used to locate drill holes (collar and down- hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control.	All surface drill hole survey information is collected in-house using a Leica 18T RTK DGPS system. The project survey grid is tied to the West African GEOID Datum and WGS84 Zone 29N projection. All DD and RC/AC holes have been surveyed by using north-seeking WELLFORCE CHAMP gyro.
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. Whether sample compositing has been applied.	The Sounsoun target has been drilled on a 40m by 40m spacing in the central part of the E-W orientated shear zone and a 150m by 50m spacing further west along the structure. The drill spacing is aimed at defining a maiden Mineral Resource estimate. Further to the south-west along the auger anomaly, two lines of RC holes were drilled on 60m by 60m spacing, and several DD holes were drilled to follow up favourable AC results.
Orientation of Data in Relation to Geological Structure	Whether the orientation of sampling achieves unbiased sampling of possible 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.	The latest drilling along the E-W trending shear zone is on N-S lines. Drill holes are orientated to the south and dipping at 60° to intercept mineralisation which is interpreted as striking to the E-W and dipping at 60° to the north. Previous drilling along the E-W shear zone was on NW- SE lines, with drill holes orientated to the south-east and dipping at 60°. Drilling further south-west along the auger anomaly is on NW-SE lines, with drill hole orientated to the south-east and dipping at 60°. This drilling is earlier stage and the geometry of mineralisation is currently unknown.
Sample Security	The measures taken to ensure sample security.	Samples are stored in a guarded location close to the nearby Bankan Village. Samples are picked up and transported to Bamako by PDI/SGS truck. Coarse rejects and pulps will be eventually recovered from SGS and stored at PDI’s office in Kouroussa or at the core shed.
Audits or Reviews	The results of any audits or reviews of sampling techniques and data.	CSA Global has reviewed the sampling techniques and chain of custody procedures at the project.
	Section 2 Reporting of Exploration Results
Mineral Tenement and Land Tenure Status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. 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.		The Bankan Gold Project consists of four_Permis de Recherche Industrielle_ (Or), or exploration permits, as follows: Permit Name Area(km2) Holder Kaninko 98.22 Mamou Resources SARLU Saman 99.78 Mamou Resources SARLU Bokoro 99.98 Kindia Resources SARLU Argo 57.54 Argo MiningSARLU The permits are located between 9°51’00”W and 10°03’24”W and between 10°32’26”N and 10°52’00”N, situated to the northwest, west and southwest of the town of Kouroussa in Guinea. The Kaninko, Saman and Bokoro permits are held by 100% owned subsidiaries of PDI. The Argo permit is subject to a joint venture, whereby PDI can progressively earn 90% by payment of US$100,000 and can acquire the remaining 10% at a decision to mine in exchange for a 2% net

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		smelter royalty on production. The permit expiry dates have passed and PDI has submitted renewal documents in accordance with Guinean requirements. The renewal process is ongoing, and the Ministry of Mines and Geology has indicated its support to PDI for these renewals. Parts of the Kaninko and Saman permits, including the NEB and BC deposits, are situated in the Peripheral Zone of the Upper Niger National Park. The deposits are 21 km and 18 km, respectively, away from the closest point of the Core Conservation Area. PDI intends to apply for a mining exploitation title and enter into a mining convention with the Ministry of Mines and Geology to carry out exploitation activities within the area covered by the exploration permits. PDI has taken a robust approach to address the sensitivities associated with the location of the Project within the Peripheral Zone of the Upper Niger National Park and appointed ERM to prepare the ESIA and ESMP framework, which are essential prerequisites to be submitted by PDI when applying for the exploitation title. As a result of overlapping regulations and decrees governing mining activities in natural protected areas in Guinea, including the Upper Niger National Park’s management plan, there is a lack of clarity on the legal basis for mining exploitation activities in the Peripheral Zone of the Upper Niger National Park. It is expected that a clear basis, as well as the framework and conditions for the development of the Project, will be provided in the mining convention to be entered into in connection with the Project.
Exploration Done by Other Parties	Acknowledgment and appraisal of exploration by other parties.	Previous exploration work has been completed in the Argo area by Cassidy Gold, including soil sampling, AC and RC drilling. Artisanal miners have extracted an unknown quantity of gold from shallow hand dug pits and shafts, with panning and loaming used to identify mineralised 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. The predominant rock types consist of felsic intrusives including granite and tonalite, with mafic to intermediate volcanics and intrusives. Metasediments including marble, chert and schists have also been observed. 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. Sounsoun: The main trend consists in a sheared zone with pyrite as the main sulphide and silica/chlorite alteration. The mineralisation seems to be preferentially developed along the Sounsoun main shear zone.
Drill Hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: • easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole 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.	See Appendix 1.

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Data Aggregation Methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. 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. The assumptions used for any reporting of metal equivalent values should be clearly stated.	Sampling was generally in 1m intervals. Up to 2m (down-hole) of internal waste is included for results reported at the 0.5g/t Au cut-off grade. Mineralised intervals are reported on a weighted average basis.
Relationship Between Mineralisation Widths and Intercept Lengths	These relationships are particularly important in the reporting of Exploration Results If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	In the E-W branch of Sounsoun, the mineralisation appears to develop along an E-W trending deformation zone plunging northwards by 60°. Previous drill holes were inclined at 60°, trending NW-SE across the orebody. The latest drilling has been completed on a N-S orientation and 60° inclination, implying that the down-hole intercepts approximately represent true thickness.
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 drill hole collar locations and appropriate sectional views.	Appropriate maps and sections are included in this release.
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.	Comprehensive reporting of the drill results is provided in Appendix 1.
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.	All other exploration data on this area has been reported previously by PDI.
Further Work	The nature and scale of planned further work (eg tests for lateral extensions or large scale step out drilling. Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Refer to the text in the announcement for information on follow-up and/or next work programs.

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