PREDICTIVE DISCOVERY LIMITED — Capital/Financing Update 2024

Jul 15, 2024

16 July 2024

STRONG DRILLING RESULTS AND PERMITTING UPDATE

Predictive Discovery Limited (ASX:PDI) (“PDI” or the “Company”) is pleased to announce further drilling results from the NEB and BC area of its 5.38Moz[1] Bankan Gold Project in Guinea, as well as an update on the permitting process.

Resource definition drilling programs are ongoing to support the Definitive Feasibility Study (“DFS”), with the aim of further defining current Mineral Resources and establishing additional deposits to extend the planned 12-year mine life. Results in this announcement are from 7 holes for 1,019m of infill drilling at the BC deposit, which hosts a current Mineral Resource of 487Koz (including Ore Reserves of 207Koz)[1] approximately 3km west of the main NEB deposit, as well as 22 holes for 1,585m at the 800W target located approximately 400m north-west of NEB, which currently has no Mineral Resources attributed to it.

Following completion of the Environmental & Social Impact Assessment (“ESIA”) in April 2024, the Company provides an update on the process to secure an Exploitation (Mining) Permit for the Project.

HIGHLIGHTS

• BC infill drilling delivers further excellent results in line with the opportunity to increase Ore Reserves by upgrading Inferred Mineral Resources below the Pre-Feasibility Study (“PFS”) pit design to Indicated.

• Best intercepts below the PFS pit of 43m @ 5.58g/t from 128m, 22m @ 2.01g/t from 176m, 18m @ 2.07g/t from 91m, 8.1m @ 2.52g/t from 108m and 3.1m @ 3.65g/t from 87m.

• Positive intercepts also received within the PFS pit, including 16m @ 1.16g/t from 9m, 13m @ 1.03g/t from 36m, 4m @ 2.54g/t from 28m, 8m @ 1.03g/t from 49m and 7m @ 1.13g/t from 36m.

• 800W resource development drilling records strong initial results, including 15m @ 22.22g/t from 13m (including 5m @ 65.38g/t from 13m), 18m @ 2.03g/t from 40m, 8m @ 4.57g/t from 23m, 6m @ 4.05g/t from 30m, 3m @ 7.35g/t from 31m and 4m @ 4.41g/t from 37m.

• Final results from the BC infill drilling program due shortly. Infill drilling at Gbengbeden well advanced. 800W resource development drilling program recently completed and drilling is commencing soon at SB. Resource development drilling is also underway at Argo (Fouwagbe and Sounsoun).

• ESIA has been submitted to the Government of Guinea and the application process for an Exploitation (Mining) Permit is formally underway.

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 1020

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PDI’s Managing Director, Andrew Pardey, said:

“These latest results in the NEB area continue to highlight multiple avenues to enhance and extend the Bankan Gold Project’s already robust 12-year mine life.”

“At BC, infill drilling has recorded numerous strong intercepts below the PFS pit design, including an outstanding result of 43m @ 5.58g/t from 128m, reinforcing the opportunity to increase the current 207Koz BC Ore Reserve.[2] ”

“The very positive results at 800W build on previous exploration drilling, and continue to define a shallow orebody situated just north-west of the NEB deposit. There is excellent potential to define a maiden Mineral Resource at 800W later this year.”

“Submission of the ESIA to the Government of Guinea in June marked a key milestone in the permitting process for the Bankan Gold Project, and was the result of more than two years of environmental and social surveys, studies and engagement. I’d like to thank the Government and other key stakeholders for their support to date, and look forward to working closely together to continue advancing Africa’s largest gold development project.”

SUMMARY OF DRILLING RESULTS

Results in this announcement are from resource definition drilling at the BC deposit and the 800W target, which is located just north-west of the main NEB deposit. In total, results for 29 holes for 2,604m of diamond (“DD”) and reverse circulation (“RC”) drilling are reported as shown in Table 1.

Table 1: Drill Holes Reported in this Announcement

Location	**Drill type **	Holes	Metres
BC (Resource Definition)	DD	5	848
	RC	2	171
	Total	7	1,019
800W (Resource Definition)	RC	22	1,585
	Total	22	1,585
Total		29	2,604

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Figure 1: Bankan Project deposits and targets

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

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BC DRILLING RESULTS

As previously disclosed, a resource definition drilling program has been completed at BC to follow up the opportunity identified in the PFS to potentially increase Ore Reserves through additional infill drilling.

The PFS pit design is limited by the current depth of Indicated Mineral Resources, with substantial Inferred Mineral Resources situated just below. Pit optimisation sensitivities highlighted that the optimal pit shell would expand if Inferred Mineral Resources were also included in the optimisation runs, and therefore, upgrading these Inferred Mineral Resources to Indicated could increase Ore Reserves.

This announcement includes results from an additional five DD holes and two RC holes for a total of 1,019m drilled, with assays pending from the final two DD holes of BC’s infill drilling program. Excellent intercepts were recorded in multiple holes, as shown in Figure 2 and described in further detail below.

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Figure 2: BC drill plan

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BC Cross Section A-A’

BCKDD0049A, which infilled the drill spacing in the central part of the deposit, returned multiple significant intercepts below the PFS pit design. Towards the end of the hole, a spectacular intercept of 43m @ 5.58g/t from 128m was recorded in a metasediment-tonalite-skarn complex close to the footwall shear. This intercept has a high-grade component of 17.3m @ 11.03g/t from 152.7m which sits entirely outside the current Mineral Resource envelope.

Further up the hole, other significant intercepts within the Inferred Mineral Resource envelope included 3m @ 1.21g/t from 80m, 3.1m @ 3.65g/t from 87m, 5.15m @ 1.40g/t from 98m, 8.1m @ 2.52g/t from 108m and 4.2m @ 0.95g/t from 119.8m.

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Figure 3: BC cross section A-A’

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BC Cross Section B-B’

On a section located just to the south, BCKDD0047 also returned multiple significant intercepts below the PFS pit design within the Inferred Mineral Resource envelope. Best results included 6.9m @ 1.06g/t from 99m, 4.3m @ 0.59g/t from 155.7m, 3m @ 1.02g/t from 164m and an excellent intercept of 22m @ 2.01g/t from 176m near the footwall shear.

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Figure 4: BC cross section B-B’

Other BC Results

In the central part of the deposit, BCKRC0052 recorded several significant intercepts within the Indicated Mineral Resource envelope, including 2.6m @ 1.16g/t from 13.1m, 4m @ 2.54g/t from 28m, 7m @ 1.13g/t from 36m and 8m @ 1.03g/t from 49m. Further down the hole, below the PFS pit design and within the Inferred Mineral Resource envelope, BCKRC0052 intercepted 18m @ 2.07g/t from 91m.

In the northern part of the deposit, BCKRC0035 recorded 16m @ 1.16g/t from 9m and 13m @ 1.03g/t from 36m within the PFS pit, further infilling the Indicated Mineral Resource in this area. 6m @ 1.33g/t from 80m was also intercepted at the boundary between Indicated and Inferred Mineral Resources at the bottom of the PFS pit.

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800W DRILLING RESULTS

The 800W target is located approximately 400m north-west of the NEB resource pit shell and on the northern edge of the ENE-WSW trending structure between NEB and Gbengbeden.

Previous drilling defined a zone of shallow mineralisation which plunges to the west and appears to develop along an NNE-SSW axis at the foot of a resistive corridor highlighted by ground geophysics. Detailed geological and structural interpretation of the 800W target is ongoing.

As previously announced, the 800W target has been advanced to resource development, and a drilling program has been completed which comprised 2 DD and 24 RC holes for 2,046m drilled. Results in this announcement are from 22 RC holes for 1,585m drilled, with assays pending from the remaining holes.

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Figure 5: 800W drill plan

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800W Cross Section A-A’

A line of five RC holes was drilled in the central part of the deposit to further define mineralisation in this area towards the east and at shallow depth in the saprolite. The eastern-most hole, BNERC0560, encountered very high-grade mineralisation, recording 5m @ 65.38g/t from 13m (including 1m @ 241g/t) from within a broader intercept of 15m @ 22.22g/t from 13m.

Multiple significant intercepts were recorded in other holes on this section, including 7m @ 1.16g/t from 3m and 18m @ 2.03g/t from 40m (BNERC0557), 2m @ 3.57g/t from 16m and 5m @ 0.81g/t from 26m (BNERC0559), and 7m @ 0.55g/t from 37m (BNERC0558).

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Figure 6: 800W cross section A-A’

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800W Cross Section B-B’

Located in the southern part of the mineralised envelope, three RC holes reported excellent intercepts at shallow depths.

Results from BNERC0554 and BNERC0555, located at the eastern end of the section, better define and extend the edge of the mineralised envelope to the east. BNERC0554 intercepted 10m @ 1.07g/t from 10m and 6m @ 2.27g/t from 23m and BNERC0555 recorded a best intercept of 5m @ 1.19g/t from 7m.

At the western end of the section, BNERC0553 recorded strong intercepts of 8m @ 4.57g/t from 23m, 5m @ 3.04g/t from 47m and 5m @ 1.24g/t from 55m. One DD hole, BNEDD0265, has been drilled to the west of BNERC0553 to test the depth and western extension of the mineralisation. Results are pending.

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Figure 7: 800W cross section B-B’

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Other 800W Results

Multiple significant intercepts are reported both to the north and south of cross section lines A-A’ and B-B’ which further suggest mineralisation is developing along a broadly NNE-SSW trending axis. Best results include:

• BNERC0564: 6m @ 4.05g/t from 30m

• • BNERC0561: 3m @ 7.35g/t from 31m • BNERC0562: 4m @ 4.41g/t from 37m • BNERC0546: 5m @ 1.18g/t from 6m 3m @ 1.96g/t from 52m

• • BNERC0547: 4m @ 2.23g/t from 20m • BNERC0563: 6m @ 1.23g/t from 11m

DRILLING PROGRAMS AND NEXT STEPS

PDI currently has two main focuses in the NEB area: infill drilling at BC and Gbengbeden aligned with the PFS identified opportunity to potentially increase Ore Reserves; and resource development drilling programs at 800W and SB which aim to define maiden Mineral Resource estimates later in 2024.

As mentioned above, the BC infill drilling program has been completed with results from the remaining two DD holes due shortly. The infill drilling program at Gbengbeden is well advanced, however no assays have been received to date.

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Figure 8: Bankan Project drilling programs

The 800W resource development drilling program has now been completed and a resource development drilling program is planned to commence at the SB target shortly.

Resource development drilling is now underway on the Argo permit, where the initial aim is to define maiden Mineral Resources at the Fouwagbe and Sounsoun targets.

Regional exploration drilling programs will continue at Argo and have also commenced to the south towards NEB at select targets on the Bokoro permit.

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PERMITTING UPDATE

An extensive program of environmental and social studies was carried out by PDI, together with ERM and other specialist advisers, throughout 2022 and 2023, leading to completion of the ESIA in April 2024. The content of the ESIA was subject to prior public consultations and is the result of a participatory procedure involving local communities and stakeholders. Submission of the ESIA in June 2024 marks a key milestone for PDI in advancing the Bankan Gold Project towards the development phase.

The review of the ESIA by Guinea’s Ministry of the Environment and Sustainable Development (“MEDD”), the Guinean Agency for Environmental Assessment (“AGEE”) and the Guinean Office of National Parks and Wildlife Reserves (“OGPNRF”) has commenced as part of the environmental and social compliance certification process essential to obtaining the Bankan Gold Project Exploitation Permit.

- 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
Brad Milne	Bobby Morse/George Pope
Corporate Development Manager	Buchanan
E: brad.milne@predictivediscovery.com	E: predictive@buchanancomms.co.uk
P: +61 8 9216 1000	P: +44 (0) 20 7466 5000

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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[3] 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.[3]

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 9: Bankan Project deposits and targets

COMPETENT PERSONS STATEMENT

The Exploration Results reported herein for the NEB and BC area 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.

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

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APPENDIX 1: BC RESOURCE DEFINITION DRILLING RESULTS

		UTM 29N	UTM 29N	RL	Hole	Hole	Hole	0.5g/tgold cut-off	0.5g/tgold cut-off	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
BC
BCKDD0047	DD	393,466	1,173,972	368	60.9	-55.4	250	75	2	1.05	2
								95	1	0.75	1
								99	6.9	1.06	7
								111	2	0.68	1
								118.7	1.1	0.63	1
								136	2	0.63	1
								142	1	1.65	2
								155.7	4.3	0.59	3
								164	3	1.02	3
								170	2	0.63	1
								176	22	2.01	44
BCKDD0048	DD	393,427	1,174,128	367	61.5	-56.3	140	28	2.2	0.66	2
								41	2.8	1.24	4
								47	1	0.85	1
BCKDD0049A	DD	393,435	1,174,047	368	60.8	-55.6	210	25.6	3.2	1.35	4
								51	1	0.63	1
								56	3.6	1.11	4
								80	3	1.21	4
								87	3.1	3.65	11
								98	5.15	1.40	7
								108	8.1	2.52	20
								119.8	4.2	0.95	4
								128	43	5.58	240
BCKDD0051	DD	393,594	1,173,746	377	61.3	-55.7	100	No significant intercepts
BCKDD0052	DD	393,503	1,174,034	368	57.4	-56.4	147	13.1	2.6	1.16	3
								28	4	2.54	10
								36	7	1.13	8
								49	8	1.03	8
								71	6.5	0.42	3
								91	18	2.07	37
BCKRC0035	RC	393,449	1,174,175	368	45.2	-56.1	111	9	16	1.16	19
								36	13	1.03	13
								80	6	1.33	8
								89	1	0.56	1
BCKRC0036	RC	393,496	1,174,235	368	62.0	-62.8	60	No significant intercepts

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APPENDIX 2: 800W RESOURCE DEFINITION DRILLING RESULTS

		UTM 29N	UTM 29N	RL	Hole	Hole	Hole	0.5g/tgold cut-off	0.5g/tgold cut-off	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
800W
BNERC0545	RC	395,949	1,175,722	390	89.9	-58.8	40	5	3	1.08	3
BNERC0546	RC	395,929	1,175,723	389	89.6	-58.5	60	6	5	1.18	6
								15	1	0.71	1
								52	3	1.96	6
BNERC0547	RC	395,909	1,175,717	389	90.0	-59.2	70	20	4	2.23	9
BNERC0548	RC	395,891	1,175,718	389	89.3	-59.3	80	7	1	0.87	1
BNERC0549	RC	395,852	1,175,719	389	93.9	-58.7	105	42	1	0.50	1
								54	1	1.11	1
BNERC0550	RC	395,928	1,175,700	390	92.3	-59.4	50	34	1	1.11	1
BNERC0551	RC	395,908	1,175,700	389	89.6	-60.2	60	19	1	0.68	1
								41	2	1.97	4
								47	2	0.84	2
BNERC0552	RC	395,888	1,175,700	389	90.4	-59.5	70	No significant intercepts
BNERC0553	RC	395,872	1,175,739	389	93.0	-60.0	100	14	1	0.81	1
								23	8	4.57	37
								43	1	0.93	1
								47	5	3.04	15
								55	5	1.24	6
BNERC0554	RC	395,956	1,175,739	390	88.2	-58.4	80	10	10	1.07	11
								23	6	2.27	14
								64	1	1.00	1
BNERC0555	RC	395,999	1,175,741	390	89.9	-58.4	50	7	5	1.19	6
								34	1	0.52	1
								41	1	1.38	1
BNERC0556	RC	395,849	1,175,780	388	92.7	-59.6	140	No significant intercepts
BNERC0557	RC	395,950	1,175,781	389	85.4	-58.9	90	3	7	1.16	8
								15	1	0.62	1
								40	18	2.03	37
								82	1	0.62	1
BNERC0558	RC	395,989	1,175,780	390	90.3	-59.7	70	18	1	0.85	1
								37	7	0.55	4
								59	1	0.53	1
BNERC0559	RC	396,009	1,175,780	390	90.4	-59.4	60	16	2	3.57	7
								26	5	0.81	4
								34	1	0.50	1
BNERC0560	RC	396,029	1,175,780	390	89.6	-58.4	50	9	1	1.11	1
								13	15	22.22	333
BNERC0561	RC	396,036	1,175,797	390	90.5	-58.4	45	16	2	0.91	2
								31	3	7.35	22
BNERC0562	RC	396,016	1,175,799	390	91.5	-58.2	50	37	4	4.41	18
								48	1	1.13	1
BNERC0563	RC	395,983	1,175,819	389	91.2	-59.5	60	11	6	1.23	7
								20	1	0.51	1
								25	2	0.91	2
								46	1	0.81	1
BNERC0564	RC	395,937	1,175,820	388	91.4	-59.1	90	30	6	4.05	24
								71	2	0.58	1
								77	1	0.62	1
								88	1	0.89	1
BNERC0565	RC	395,892	1,175,840	388	93.1	-60.0	105	No significant intercepts
BNERC0568	RC	396,012	1,175,840	389	91.4	-58.8	60	No significant intercepts

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APPENDIX 3: 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 reassayed 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.
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% in the NEB area. 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 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 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 with a lower detection limit of 5ppb Au. All samples with gold values exceeding 10g/t Au were re-assayed using SGS method FAA515 with a detection limit of 0.01g/t Au. 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.
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.

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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.	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 BC deposit has mainly been drilled on a 40m x 40m drill spacing, which supports the current Indicated and Inferred Mineral Resource estimate. The current infill drilling campaign has been designed to upgrade additional Inferred Mineral Resources located just below the PFS pit design to the Indicated category, and the drill spacing is being closed to as low as 20m between holes on certain sections in targeted areas of the deposit. The 800W target has mainly been drilled on a 20m x 20m drill spacing. Holes drilled at the near-resource targets were planned on specific targets like auger anomalies and did not always follow a set grid. Spacing of AC holes depends on their depth (blade refusal) to ensure suitable coverage.
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.	Most of the drilling is orientated as close as possible to orthogonal to the dip and strike of the mineralisation. Drilling at some targets 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 have 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 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.

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		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.	PDI is not aware of any significant previous gold exploration over the NEB/BC area. Artisanal miners have extracted an unknown quantity of gold from shallow hand dug pits and shafts, with panning and loaming used to identify mineralized 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. BC: BC is a tonalite intrusion into sedimentary carbonate, generating a skarn at the contact between the intrusion and the host rock by metasomatic reaction. This intrusion is bordered by a deformation corridor to the east (footwall), generally following the contact between the metasediment and the intrusion, and to the west by a hangingwall shear zone at the granodiorite-metasediment contact. Skarn facies alteration developed along these two deformed contacts from magmatic hydrothermal fluid. The associated silicic alteration carries gold mineralisation. The expression of these events is varied in the core (massive quartz veins, brecciated quartz veins, sheared quartz veins, stockwork quartz veins, silica overprint, etc). The main minerals in the skarn are garnet, epidote, and chlorite, with rare pyroxene and amphibole. The footwall sedimentary carbonate displays strong deformation, including folding. 800W: 800W consists of a series of mineralised zones developing along parallel deformation zones and plunging to the NW into an intrusive host rock. This series of mineralised bodies appears to be aligned along a NNE-SSW trending resistive corridor highlighted by the previous ground geophysics campaign.
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.	See Appendix 1 and Appendix 2.

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	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.
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’).	At NEB, SB, SEB, drill holes are typically inclined at 55° to the east, in order to target mineralised trend structures that appear to plunge towards the west and develop along a generally N-S axis. The dip of these different mineralised structures appears to vary between 45° and 60°, implying a down-hole intercept length of the true thickness. At 800W, drill holes are typically inclined at 55° to the east, in order to target mineralised trend structures that appear to plunge globally towards the west and the north-west and develop along a generally N-S to NNE-SSW axis. At BC, drill holes are typically inclined at 55° to the north-east, in order to target mineralised trend structures that appear to plunge towards the south-west and develop along a generally NW-SE axis. The dip of these different mineralised structures appears to vary between 45° and 60°, implying a down-hole intercept length of the true thickness. In the WNW-ESE BC corridor, drill holes are generally inclined 55° to the north-east in order to intercept mineralisation plunging 45-60° to the south-west, implying a down-hole intercept length of the 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 and Appendix 2.
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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