Resolute Mining Limited — Annual Report 2023

Mar 7, 2024

8 March 2024

Ore Resources Maintained with Exploration Success in both Mali and Senegal

Highlights

• Total Mineral Resources maintained at 11.2 million ounces (Moz) of gold with exploration success at Syama North in Mali and Tomboronkoto in Senegal offsetting mining depletion
• Total Ore Reserves decreased marginally to 4.4 Moz (from 4.6 Moz in December 2022) in line with expectations due to mining depletion across both operations
• Syama North Ore Reserves increased over 17% to 1.0 Moz and Measured and Indicated Mineral Resources increased 47% to 2.7 Moz following successful drilling campaigns in 2023
• Mineral Resources in Senegal increased significantly following the maiden Mineral Resource Estimate ("MRE") at the Tomboronkoto satellite deposit of 403 koz grading 1.2g/t

Resolute Mining Limited (Resolute, the Company or the Group) (ASX/LSE: RSG), is pleased to announce the Company's Annual Ore Reserve and Resource Statement at 31 December 2023.

Terry Holohan, CEO and Managing Director, commented, "these results are in line with our expectations given the work we are conducting on our growth projects.

At Syama the exploration teams have been focussed on the infilling of the 3.5 Moz Syama North project, raising the M&I to over 2.7 Moz, with first mining commencing later this year. We are also conducting detailed mine optimisations with an uplift in our Ore Reserve estimate to 1 Moz and we expect further increases going forward.

At Mako the drilling of the first of our three major mineralisation satellite targets, Tomboronkoto, we recently published a maiden Mineral Resource estimate of 403 koz and drilling is continuing."

At 31 December 2023 Resolute's direct share of Ore Reserves decreased by approximately 230 koz to 3.61 Moz across the Group. Mineral Resources increased by 51 koz to 9.16 Moz due to the additional Resources at Syama North and Tomboronkoto.

A detailed breakdown of the Company's Ore Reserves and Mineral Resources at 31 December 2023 representing the Syama and Mako operations is presented in the tables below. Tables 1 and 2 show a summary of total Ore Reserves and Mineral Resources respectively on a 100% basis. The 2023 Annual Ore Reserve Statement and the 2023 Annual Mineral Resource Statement are in Table 3 and 4 respectively.

All tonnes and grade information have been rounded to reflect relative uncertainty of the estimate, small differences may be present in the totals.

Table 1: Ore Reserves (100% Basis)

	Proved				Probable		Total
As atDecember 2023	Tonnes(000s)	g/t	oz(000s)	Tonnes(000s)	g/t	oz(000s)	Tonnes(000s)	g/t	oz(000s)
Syama	3,063	1.5	153	44,979	2.6	3,804	48,041	2.6	3,957
Mako	4,445	1.1	152	3,652	2.1	250	8,097	1.5	402
Managed Ore Reserves	7,508	1.3	304	48,631	2.6	4,054	56,139	2.4	4,358

Total Ore Reserves as at 31 December 2023 on a 100% basis total 4.4 Moz after mining depletion, changes in modifying factors and an increase in reserves at Syama North. Increases in Measured and Indicated Mineral Resources at Syama North, following successful drilling campaigns in 2023, permitted an increased open pit Ore Reserve to 1.0 Moz grading 2.6 g/t up from the previous Ore Reserve of 854koz grading 2.5 g/t.

In Mali, the Ore Reserves at Syama decreased by approximately 150koz to 4.0Moz marginally due to mining depletion in line with expectation in both the open pit and underground reserves and changes in modifying factors. This re-modelling has caused the oxide Ore Reserves to decrease to 215koz grading 1.5g/t.

Ore Reserves at the Mako Gold Mine decreased in line with mining depletion.

		Measured			Indicated			Inferred			Total Resources
As atDecember 2023	Tonnes(000s)	g/t	oz(000s)	Tonnes(000s)	g/t	oz(000s)	Tonnes(000s)	g/t	oz(000s)	Tonnes(000s)	g/t	oz(000s)
Syama	31,541	2.8	2,872	63,528	2.8	5,704	33,376	1.6	1,686	128,445	2.5	10,263
Mako	4,608	1.1	156	6,234	1.8	363	10,668	1.2	416	21,510	1.4	936
Managed MineralResources	36,149	2.6	3,029	69,762	2.7	6,067	44,044	1.5	2,102	149,955	2.3	11,198

Table 2: Mineral Resources (100% Basis)

Mineral Resources (inclusive of Ore Reserves) at 31 December 2023, on a 100% basis, contain 11.2 Moz of gold. The Company's fully attributable Mineral Resources position, net of government interests is 9.2 Moz of gold.

Mineral Resources increased marginally in 2023 following additions at Syama North during the year. Successful drilling programs at Syama North have consistently increased Mineral Resources since exploration commenced in 2021. During 2023 the Syama North Mineral Resource increased to 37.9Mt at a grade of 2.9g/t Au for 3.5Moz.

In Senegal, the Mineral Resources at Mako decreased in line with mining depletion. Moreover, in Senegal there is an additional 403 koz of Inferred Resources at a grade of 1.2 g/t (reported at a cut-off grade of 0.5 g/t) from the Tomboronkoto deposit (maiden MRE announced on 24th January 2024).

Table 3: Ore Reserves Statement

		Proved			Probable			Total		GroupShare
Ore ReservesAs at December 2023	Tonnes(000s)	g/t	oz(000s)	Tonnes(000s)	g/t	oz(000s)	Tonnes(000s)	g/t	oz(000s)	oz(000s)
Mali										80%
Syama Underground	0	0.0	0	23,588	2.5	1,865	23,588	2.5	1,865	1,492
Syama Stockpiles	1,071	1.8	61	1,823	1.3	79	2,894	1.5	139	112
Sub Total (Sulphides)	1,071	1.8	61	25,411	2.4	1,943	26,482	2.4	2,004	1,603
Syama Satellite Deposits	97	1.8	6	13,137	2.5	1,052	13,234	2.5	1,058	846
Stockpiles (satellite deposits)	919	1.5	44	1,403	1.0	43	2,322	1.2	87	70
Sub Total SatelliteDeposits	1,016	1.5	50	14,540	2.3	1,095	15,556	2.3	1,145	916
										90%
Tabakoroni Underground	0	0.0	0	5,028	4.7	766	5,028	4.7	766	689
Tabakoroni Open Pit	0	0	0	0	0	0	0	0	0	0
Tabakoroni Satellite Deposits	0	0.0	0	0	0.0	0	0	0.0	0	0
Tabakoroni Stockpiles	975	1.3	42	0	0.0	0	975	1.3	42	38
Sub Total Tabakoroni	975	1.3	42	5,028	4.7	766	6,033	4.2	808	727
Mali Total	3,063	1.5	153	44,979	2.6	3,804	48,041	2.6	3,957	3,246
Senegal										90%
Mako	345	1.9	21	3,652	2.1	250	3,997	2.1	271	244
Mako Stockpiles	4,100	1.0	131	0	0.0	0	4,100	1.0	131	118
Senegal Total	4,445	1.1	152	3,652	2.1	250	8,097	1.5	402	362
Total Ore Reserves	7,508	1.3	304	48,631	2.6	4,054	56,139	2.4	4,358	3,608

Notes:

1. Mineral Resources include Ore Reserves.

2. All tonnes and grade information have been rounded to reflect relative uncertainty of the estimate, small differences may be present in the totals.

3. Syama Underground mine planning is based on a cut-off grade of 2g/t.

4. Syama Satellite Reserves are reported above 0.8g/t cut-off.

5. Syama North Sulphide Reserves are reported above 1.0g/t cut-off.

6. Tabakoroni Underground Reserves are reported above a 2.75g/t cut-off.

7. Tabakoroni Satellite Reserves are reported above 1.1g/t cut-off.

8. Mako Reserves are reported above 0.9g/t cut-off.

Resolute's asset ownership is 80% of Syama (Mali Government 20%), 90% of Tabakoroni (Mali Government 10%), 90% of Mako (Senegalese Government 10%). As such, the Company's fully attributable Ore Reserves position net government interests, is 3.6Moz of gold – see Table 3.

Table 4: Mineral Resources Statement

		Measured			Indicated			Inferred		Total Resources			GroupShare
Mineral ResourcesAs at December 2023	Tonnes(000s)	g/t	oz(000s)	Tonnes(000s)	g/t	oz(000s)	Tonnes(000s)	g/t	oz(000s)	Tonnes(000s)	g/t	oz(000s)	oz(000s)
Mali													80%
Syama Underground	24,023	3.1	2,356	24,940	2.6	2,061	1,903	2.0	124	50,866	2.8	4,540	3,632
Stockpiles (sulphide)	1,071	1.8	62	1,777	1.3	75	0	0	0	2,848	1.5	137	110
Sub Total (Sulphides)	25,094	3.0	2,418	26,717	2.5	2,136	1,903	2.0	124	53,714	2.7	4,677	3,742
Satellite Deposits	3,448	2.8	311	30,032	2.8	2,709	12,783	2.5	1,013	46,263	2.7	4,034	3,227
Stockpiles (satellite deposits)	1,848	1.4	85	1,449	1.0	45	46	1.1	2	3,343	1.2	131	105
Sub Total Satellite Deposits	5,296	2.3	396	31,481	2.7	2,754	12,829	2.5	1,015	49,606	2.6	4,165	3,332
Old Tailings	0	0.0	0	0	0.0	0	17,000	0.7	365	17,000	0.7	365	292
													90%
Tabakoroni Open Pit	0	0.0	0	151	4.5	22	0	0	0	151	4.5	22	20
Tabakoroni Underground	6	3.5	1	5,179	4.8	792	1,644	3.5	182	6,829	4.4	976	878
Tabakoroni Satellite Deposits	191	2.0	12	0	0.0	0	0	0.0	0	191	2.0	12	11
Tabakoroni Stockpiles	954	1.5	46	0	0.0	0	0	0.0	0	954	1.5	46	41
Sub Total Tabakoroni	1,151	1.6	58	5,330	4.8	815	1,644	3.5	183	8,125	4.0	1,055	950
Mali Total	31,541	2.8	2,872	63,528	2.8	5,704	33,376	1.6	1,686	128,445	2.5	10,263	8,316
Senegal													90%
Mako	507	1.6	25	6,234	1.8	363	464	0.9	13	7,206	1.7	401	361
Tomboronkoto	0	0.0	0	0	0.0	0	10,204	1.2	403	10,204	1.2	403	363
Mako Stockpiles	4,100	1.0	131	0	0.0	0	0	0.0	0	4,100	1.0	131	118
Senegal Total	4,608	1.1	156	6,234	1.8	363	10,668	1.2	416	21,510	1.4	935	842
Total Mineral Resources	36,149	2.6	3,029	69,762	2.7	6,067	44,044	1.5	2,102	149,955	2.3	11,198	9,157

Notes:

Mineral Resources include Ore Reserves.

All tonnes and grade information have been rounded to reflect relative uncertainty of the estimate, small differences may be present in the totals.

Resources are reported above 1.0g/t cut-off for the Syama North.

Resources for the SLC at Syama is reported within an MSO shape generated at 1.5g/t and south of the SLC within an MSO shape generated at 1.5g/t.

Resources for the Cashew NE, Paysans, Tellem and Porphyry Zone (Splay) are reported above a cut-off of 1.0g/t.

Resources for Tabakoroni Open Pit are reported above a cut-off of 1.0g/t and within a US$2,000 optimised shell.

Resources for the Tabakoroni Underground are reported within an MSO shape generated at 1.75g/t (equivalent to US$2,000).

Mako Resources are reported above a cut-off of 0.5g/t and within a US$2,000 optimised shell.

Tomboronkoto Resources are reported above a cut-off of 0.5g/t

At 31 December 2023

Competent Persons Statement

The information in this announcement that relates to data quality, geological interpretation and Mineral Resource estimation for the various projects unless specified in the list below is based on information compiled by Bruce Mowat, a Competent Person who is a Member of the Australian Institute of Geoscientists and a full-time employee of Resolute Corporate Services Pty Ltd, a wholly-owned subsidiary of Resolute Mining Limited. Mr Mowat has sufficient experience that is relevant to the styles of mineralisation and type of deposits under consideration and to the activity being undertaken as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code 2012). Mr Mowat consents to the inclusion in this announcement of the material compiled by him in the form and context in which it appears.

The information in this statement that relates to the Mineral Resources and Ore Reserves listed below is based on information and supporting documents prepared by the Competent Person identified. Each person specified in the list has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which has been undertaken to qualify as a Competent Person as defined in the JORC Code 2012.

Activity	Competent Person	Membership Institution
Syama Resource	Patrick Smillie	Society for Mining, Metallurgy, and Exploration
Syama Reserve	Gito Patani	Australasian Institute of Mining and Metallurgy
Syama North Resource	Patrick Smillie	Society for Mining, Metallurgy, and Exploration
Syama North Reserve	Kitwa Ndjibu	Australasian Institute of Mining and Metallurgy
Syama Tailings Facility	Susan Havlin	Society for Mining, Metallurgy, and Exploration
Tabakoroni OP Resource	Susan Havlin	Australasian Institute of Mining and Metallurgy
Tabakoroni OP Reserves	Kitwa Ndjibu	Australasian Institute of Mining and Metallurgy
Tabakoroni UG Resource	Susan Havlin	Australasian Institute of Mining and Metallurgy
Tabakoroni UG Reserves	Gito Patani	Australasian Institute of Mining and Metallurgy
Tellem Resource	Patrick Smillie	Society for Mining, Metallurgy, and Exploration
Tellem Reserves	Kitwa Ndjibu	Australasian Institute of Mining and Metallurgy
Cashew Resource	Bruce Mowat	Australian Institute of Geoscientists
Cashew Reserves	Kitwa Ndjibu	Australasian Institute of Mining and Metallurgy
Paysans Resource	Bruce Mowat	Australian Institute of Geoscientists
Paysans Reserves	Kitwa Ndjibu	Australasian Institute of Mining and Metallurgy
Porphyry Zone Resource	Bruce Mowat	Australian Institute of Geoscientists
Porphyry Zone Reserves	Kitwa Ndjibu	Australasian Institute of Mining and Metallurgy
Mako Resources	Bruce Mowat	Australian Institute of Geoscientists
Mako Reserves	Kitwa Ndjibu	Australasian Institute of Mining and Metallurgy
Tomboronkoto Resource	Bruce Mowat	Australian Institute of Geoscientists

Mr Smillie, Mr Ndjibu and Mr Patani are full-time employees of Resolute Corporate Services Pty Ltd, a wholly-owned subsidiary of Resolute Mining Limited.

Authorised by Mr Terry Holohan, Managing Director and Chief Executive Officer

At 31 December 2023

Contact

Resolute Matty O'Toole Howes, Corporate Development and Investor Relations Manager Motoolehowes@resolutemining.com +44 203 3017 620

Public Relations Jos Simson, Tavistock resolute@tavistock.co.uk +44 207 920 3150

Corporate Brokers Jennifer Lee, Berenberg +44 20 3753 3040

Tom Rider, BMO Capital Markets +44 20 7236 1010

Resolute Mining encourages all shareholders to provide an email address so we can communicate with you electronically when shareholder notices become available online. To review or change your communications preferences, please go to: www.computershare.com.au/easyupdate/rsg

APPENDIX

Ore Reserves Comparison to 31 December 2022

Reserves and Resources comply with the Australasian Code for Reporting of Mineral Resources and Reserves (The JORC Code 2004 and JORC Code 2012).

	Tonnes(000s)	Goldgrade(g/t)	Dec-23Ounces(000s)	GroupShare%	GroupShareOunces	Tonnes(000s)	Dec-22Goldgrade(g/t)	Ounces(000s)	GroupShare%	GroupShareOunces
Ore Reserves			Proved				Proved				Comment on Changes
Mali
Syama Stockpiles(Sulphide)	1,071	1.8	61	80%	48	707	2.0	46	80%	37	Movement in operating stockpiles
Syama North	97	1.8	6	80%	5	0	0.0	0	80%	0	New Reserve
Stockpiles (Oxide)	919	1.5	44	80%	35	881	1.3	38	80%	30	Movement in operating stockpiles
Porphyry Zone(Splay)	0	0.0	0	80%	0	164	2.2	11	80%	10	Depleted
Tabakoroni OpenPit	0	0.0	0	90%	0	48	1.9	3	90%	3	Depleted
TabakoroniStockpiles	975	1.3	42	90%	38	1,080	1.4	50	90%	45	Movement in operating stockpiles
Senegal
Mako	345	1.9	21	90%	19	697	2.0	44	90%	40	COG change and mining depletion
Mako Stockpiles	4,100	1.0	131	90%	118	3,861	1.0	128	90%	115	Movement in operating stockpiles
Total Proved	7,508	1.3	304		263	7,438	1.3	320		279

	Probable							Probable			Comment on Changes
Mali
SyamaUnderground	23,588	2.5	1,865	80%	1,492	25,500	2.6	2,094	80%	1,675	Depletion from mining, updated resourcemodel, and new cave flow settings
Syama Stockpiles(sulphide)	1,823	1.3	79	80%	63	1,817	1.3	78	80%	63	Movement in operating stockpiles
Syama North	11,878	2.6	984	80%	787	10,582	2.5	854	80%	683	New pit optimisation (A21, Ba01N, Ba04,Alpha) from new resource model
Stockpiles (SyamaNorth)	1,403	1.0	43	80%	34	1,403	1.0	43	80%	34	No change
Cashew	120	1.3	5	80%	4	109	1.4	5	80%	4	Revised modifying factors (COG from 0.8to 1.0)
Paysans	598	1.6	31	80%	25	609	1.7	33	80%	27	New pit design, mining depletion, andrevised modifying factors
Folona	0	0.0	0	80%	0	2	1.6	0	80%	0	Depleted
Tabakoroni OpenPit	0	0.0	0	90%	0	222	1.7	12	90%	11	Depleted
TabakoroniUnderground	5,028	4.7	766	90%	689	5,028	4.7	766	90%	689	No change
Senegal
Mako	3,652	2.1	250	90%	225	4,948	2.2	348	90%	313	COG change and mining depletion
Total Probable	48,631	2.6	4,054		3,345	51,284	2.6	4,317		3,566
Total Reserves	56,139	2.4	4,358		3,608	58,723	2.5	4,637		3,845

Appendix Table 1: Ore Reserves Comparison – 31 December 2023 to 31 December 2022

Notes:

1. Mineral Resources include Ore Reserves.

2. All tonnes and grade information have been rounded to reflect relative uncertainty of the estimate, small differences may be present in the totals.

3. Syama Underground mine planning is based on a cut-off grade of 2g/t.

4. Syama Satellite Reserves are reported above 0.8g/t cut-off.

5. Tabakoroni Underground Reserves are reported above a 2.75g/t cut-off.

6. Tabakoroni Satellite Reserves are reported above 1.1g/t cut-off.

7. Mako Reserves are reported above 0.9g/t cut-off.

Mineral Resources Comparison To 31 December 2023

			Dec-23					Dec-22
	Tonnes	Goldgrade	Ounces	GroupShare	GroupShare	Tonnes	Goldgrade	Ounces	GroupShare	Group Share
	(000s)	(g/t)	(000s)	%	Ounces	(000s)	(g/t)	(000s)	%	Ounces
Mineral Resources			Measured					Measured			Comment on Changes
Mali
Syama Underground	24,023	3.1	2,356	80%	1,885	21,235	3.5	2,362	80%	1,890	Depletion due to mining and new resource
Syama Stockpiles (Sulphide)	1,071	1.8	62	80%	50	707	2.0	46	80%	37	Movement in operating stockpiles
Syama North	2,417	3.2	251	80%	201	717	3.5	81	80%	65	New Resource and depletion due to mining
Stockpiles (Oxide)	1,848	1.4	85	80%	68	739	1.6	38	80%	30	Movement in operating stockpiles
Cashew NE	1,031	1.8	60	80%	48	1,031	1.8	60	80%	48	No change
Tabakoroni Open Pit	0	0.0	0	90%	0	33	3.9	4	90%	4	Depletion from mining.
Tabakoroni Underground	6	3.5	1	90%	1	6	3.5	1	90%	1	No change
Tabakoroni Stockpiles	954	1.5	46	90%	41	945	1.4	42	90%	38	Movement in operating stockpiles
Porphyry Zone (Splay)	191	2.0	12	90%	11	191	2.0	12	90%	11	No change
Senegal
Mako	507	1.6	25	90%	23	1,103	1.6	56	90%	50	Depletion due to mining
Mako Stockpiles	4,100	1.0	131	90%	118	3,852	1.0	121	90%	109	Movement in operating stockpiles
Total Measured	36,149	2.6	3,029		2,445	30,558	2.9	2,822		2,282
			Indicated					Indicated
Mali
Syama Underground	24,940	2.6	2,061	80%	1,649	25,920	3.0	2,483	80%	1,986	Depletion due to mining and new resource
Syama Stockpiles (Sulphide)	1,777	1.3	75	80%	60	1,771	1.3	75	80%	60	Movement in operating stockpiles
Syama North	25,301	3.0	2,412	80%	1,930	18,457	3.0	1,774	80%	1,419	New Resource and depletion due to mining
Stockpiles (Oxide)	1,449	1.0	45	80%	36	1,657	1.0	52	80%	42	Movement in operating stockpiles
Paysans	3,437	1.8	199	80%	159	3,437	1.8	199	80%	159	No change
Tellem	1,294	2.4	98	80%	79	2,208	2.3	162	80%	130	New Resource
Tabakoroni Open Pit	151	4.5	22	90%	20	205	5.0	33	90%	30	Depletion due to mining
Tabakoroni Underground	5,179	4.8	792	90%	713	5,179	4.8	792	90%	713	No change
Senegal
Mako	6,234	1.8	363	90%	327	8,458	1.8	487	90%	438	Depletion due to mining
Total Indicated	69,762	2.7	6,067		4,971	67,293	2.8	6,057		4,977
Mineral Resources			Inferred					Inferred			Comment on Changes
Mali
Syama Underground	1,903	2.0	124	80%	99	1,359	2.6	112	80%	90	New Resource and depletion.
Syama North	9,502	2.6	806	80%	645	14,863	2.8	1,319	80%	1,065	New Resource and depletion.
Stockpiles (Syama North)	46	1.1	2	80%	1	46	1.1	2	80%	1	No change
Paysans	1,765	1.7	98	80%	78	1,765	1.7	98	80%	78	No change
Tellem	1,516	2.2	109	80%	88	2,528	2.3	187	80%	150	New resource
Tabakoroni Open Pit	0	0.0	0	90%	0	1	6.0	0	90%	0	Depletion from mining.
Tabakoroni Underground	1,644	3.5	183	90%	164	1,644	3.5	183	90%	164	No change
Tailings Storage Facility	17,000	0.7	365	80%	292	17,000	0.7	365	80%	292	No change
Senegal
Mako	464	0.9	13	90%	12	682	0.9	19	90%	17	Depletion due to mining
Tomboronkoto	10,204	1.2	403	90%	363	0	0.0	0	90%	0	New resource
Total Inferred	44,044	1.5	2,102		1,742	39,888	1.8	2,284		1,848
Total Resources	149,955	2.3	11,198		9,157	137,739	2.5	11,164		9,106

Appendix Table 2: Mineral Resources Comparison – 31 December 2023 to 31 December 2022 Notes:

• 1. Mineral Resources include Ore Reserves.
• 1. All tonnes and grade information have been rounded to reflect relative uncertainty of the estimate, small differences may be present in the totals.
• 1. Resources are reported above 1.0g/t cut-off for the Syama North.
• 1. Resources for the SLC at Syama is reported within an MSO shape generated at 1.5g/t and south of the SLC within an MSO shape generated at 1.5g/t.
• 1. Resources for the Cashew NE, Paysans, Tellem and Porphyry Zone (Splay) are reported above a cut-off of 1.0g/t.
• 1. Resources for Tabakoroni Open Pit are reported above a cut-off of 1.0g/t and within a US$2,000 optimised shell. 7. Resources for the Tabakoroni Underground are reported within an MSO shape generated at 1.75g/t (equivalent to US$2,000).
• 1. Mako Resources are reported above a cut-off of 0.5g/t and within a US$2,000 optimised shell.

At 31 December 2023

JORC Code, 2012 Edition – Table 1 Report

Syama Gold Mine

Section 1 Sampling Techniques and Data

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Samplingtechniques	• Nature and quality of sampling (e.g. cut channels, randomchips, or specific specialised industry standard measurementtools appropriate to the minerals under investigation, such asdown hole gamma sondes, or handheld XRF instruments,etc.). These examples should not be taken as limiting thebroad meaning of sampling.• Include reference to measures taken to ensure samplerepresentivity and the appropriate calibration of anymeasurement tools or systems used.• Aspects of the determination of mineralisation that areMaterial to the Public Report.• In cases where 'industry standard' work has been done thiswould be relatively simple (e.g. 'reverse circulation drilling wasused to obtain 1 m samples from which 3 kg was pulverised toproduce a 30 g charge for fire assay'). In other cases, moreexplanation may be required, such as where there is coarsegold that has inherent sampling problems. Unusualcommodities or mineralisation types (e.g. submarine nodules)may warrant disclosure of detailed information.	The mineral resource estimate was based on data collectedfrom reverse circulation (RC) and diamond core (DD) drillholes completed by Resolute Mining Limited (2003-2023),Randgold Resources Ltd (1996-2000) and BHP (1987-1996).Diamond core was sampled at 1m intervals and cut in half,to provide a 2-4kg sample, which was sent to the laboratoryfor crushing, splitting and pulverising, to provide a 30gcharge for analysis.RC samples were collected on 1m intervals via a cyclone byriffle split (dry), or by scoop (wet), to obtain a 2-4kg samplewhich was sent to the laboratory for crushing, splitting andpulverising to provide a 30g charge for analysis.Resolute sampling and sample preparation protocols areindustry standard and are deemed appropriate by theCompetent Person.The Randgold and BHP diamond core and RC sampleswere taken on 1m intervals. Due to the historical nature ofthe data sampling protocols are not known.
Drillingtechniques	• 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 ifso, by what method, etc.).	Drill types used include diamond core of HQ and NQ sizes.Core is oriented at 3m down hole intervals using a Reflex Act IIRD Orientation Tool and more recently using a Reflex northseeking gyro instrument.
Drill samplerecovery	• Method of recording and assessing core and chip samplerecoveries and results assessed.• Measures taken to maximise sample recovery and ensurerepresentative nature of the samples.• Whether a relationship exists between sample recovery andgrade and whether sample bias may have occurred due topreferential loss/gain of fine/coarse material.	Drill core interval recoveries are measured from core block tocore block usinga tape measure.Appropriate measures are taken to maximise sample recoveryand ensure representative nature of the samples.No apparent relationship between sample recovery and grade.
Logging	• Whether core and chip samples have been geologically andgeotechnically logged to a level of detail to supportappropriate Mineral Resource estimation, mining studies andmetallurgical studies.• Whether logging is qualitative or quantitative in nature.• Core (or costean, channel, etc.) photography.• The total length and percentage of the relevant intersectionslogged.	Drill holes were geologically logged by geologists for colour,grainsize, lithology, minerals, alteration and weathering ongeologically domained intervals.Geotechnical and structure orientation data was measured andlogged for all diamond core intervals.Diamond core was photographed (wet and dry).Holes were logged in their entirety (100%) and this loggingwas considered reliable and appropriate.

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Sub-samplingtechniquesandsamplepreparation	•If core, whether cut or sawn and whether quarter, half orall 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 andappropriateness of the sample preparation technique.•Quality control procedures adopted for all sub-samplingstages to maximise representivity of samples.•Measures taken to ensure that the sampling isrepresentative of the in-situ material collected, includingfor instance results for field duplicate/second-halfsampling.•Whether sample sizes are appropriate to the grain sizeof the material being sampled.	Diamond core were sampled at 1m intervals and cut in half toobtain a 2-4kg sample.Reverse circulation samples were collected on 1m intervals byriffle split (dry) or by scoop (wet) to obtain a 2-4kg sample.Sample preparation for diamond core and RC samples includesoven drying, crushing to 10mm and splitting, pulverising to 85%passing -75um. These preparation techniques are deemed to beappropriate to the material and element being sampled.Drill core coarse duplicates were split by the laboratory aftercrushing at a rate of 1:20 samples. Reverse circulation fieldduplicates were collected by the company at a rate of 1:20samples.Resolute sampling, sample preparation and quality controlprotocols are of industry standard and all attempts were made toensure an unbiased representative sample was collected. Themethods applied in this process were deemed appropriate by theCompetent Person.Sub-sampling techniques and sample preparation completed byprevious owners is not known.
Quality of assaydata andlaboratory tests	•The nature, quality and appropriateness of the assayingand laboratory procedures used and whether thetechnique is considered partial or total.•For geophysical tools, spectrometers, handheld XRFinstruments, etc., the parameters used in determiningthe analysis including instrument make and model,reading times, calibrations factors applied and theirderivation, etc.•Nature of quality control procedures adopted (e.g.standards, blanks, duplicates, external laboratorychecks) and whether acceptable levels of accuracy (i.e.lack of bias) and precision have been established.	All Resolute samples were analysed for gold by 30g fire assayfusion with AAS instrument finish. The analysis was performed byALS Bamako, ALS Ouagadougou, or SGS Morila. The analyticalmethod was appropriate for the style of mineralisation.No geophysical tools were used to determine elementalconcentrations.Quality control (QC) procedures included the use of certifiedstandards and blanks (1:20), non- certified sand blanks (1:20),diamond core coarse duplicates (1:20) and reverse circulationfield duplicates (1:20).Laboratory quality control data, including laboratory standards,blanks, duplicates, repeats and grind size results were alsocaptured into the digital database.Analysis of the QC sample assay results indicates that anacceptable level of accuracy and precision has been achieved.The assay techniques used by Randgold and BHP include fireassay fusion with AAS instrument finish and aqua regia with AAS.The majority of the samples were analysed at the onsite Syamalaboratory. Due to the historical nature of the Randgold and BHP
Verification ofsampling andassaying	•The verification of significant intersections by eitherindependent or alternative company personnel.•The use of twinned holes.•Documentation of primary data, data entry procedures,data verification, data storage (physical and electronic)protocols.•Discuss any adjustment to assay data.	data the assay procedures are not known for all samples.Verification of significant intersections have been completed bycompany personnel and the competent person.No drill holes within the resource area were twinned.Drill holes were logged onto paper templates or Excel templateswith lookup codes, validated and then compiled into a relationalSQL 2012 database using DataShed data management software.The database has a variety of verification protocols which are usedto validate the data entry. The drill hole database is backed up dailyto the head office server.Assay result files were reported by the laboratory in PDF and CSVformat and imported directly into the SQL database withoutadjustment or modification.Resolute has conducted extensive reviews, data validation anddata verification on the historic data collected by the previousowners, Randgold and BHP.
Location ofdata points	•Accuracy and quality of surveys used to locate drill holes(collar and down-hole surveys), trenches, mine workingsand other locations used in Mineral Resource estimation.•Specification of the grid system used.•Quality and adequacy of topographic control.	Collar coordinates were picked up in UTM (WGS84) by staffsurveyors using an RTK DGPS with an expected accuracy of0.05m; elevations were height above EGM96 geoid.Down hole surveys were collected using single shot and multi shotmagnetic survey tools including Reflex EZTrac and EZShotinstruments. A time-dependent declination was applied to the

		magnetic readings to determine UTM azimuth. Diamond drillingcompleted in 2017 and 2018 has utilised a Reflex EZ Gyrodownhole survey instrument to provide more frequent data pointsand reduced magnetic interference.Coordinates and azimuth are reported in UTM WGS84 Zone 29North in this release.Coordinates were translated to local mine grid where appropriate.Local topographic control is via satellite photography and droneUAV Aerial Survey.
Data spacingand distribution	•Data spacing for reporting of Exploration Results.•Whether the data spacing and distribution is sufficient toestablish the degree of geological and grade continuityappropriate for the Mineral Resource and Ore Reserveestimation procedure(s) and classifications applied.•Whether sample compositing has been applied.	The drill hole spacing was sufficient to demonstrate geologicaland grade continuity appropriate forMineral Resource estimation and classification in accordance withthe 2012 JORC Code.The appropriateness of the drill spacing was reviewed by thegeological technical team, both on site and within the Resolutegroup. This was also reviewed by the Competent Person.RC and diamond core samples were collected on 1m intervals; nosample compositing is applied during sampling.
Orientation of datain relation togeologicalstructure	•Whether the orientation of sampling achieves unbiasedsampling of possible structures and the extent to whichthis is known, considering the deposit type.•If the relationship between the drilling orientation and theorientation of key mineralised structures is considered tohave introduced a sampling bias, this should beassessed and reported if material.	Holes were drilled predominantly perpendicular to mineraliseddomains where possible.No orientation-based sampling bias has been identified in thedata.
Sample security	•The measures taken to ensure sample security.	Samples were collected from the drill site and stored on site.All samples were individually bagged and labelled with uniquesample identifiers then securely dispatched to the laboratories.All aspects of sampling process were supervised and tracked
Audits or reviews	•The results of any audits or reviews of samplingtechniques and data.	by SOMISY personnel.External audits of procedures indicate protocols are withinindustry standards.

At 31 December 2023

Section 2 Reporting of Exploration Results

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Mineral tenementand land tenurestatus	• Type, reference name/number, location and ownershipincluding agreements or material issues with third partiessuch as joint ventures, partnerships, overriding royalties,native title interests, historical sites, wilderness ornational park and environmental settings.• The security of the tenure held at the time of reportingalong with any known impediments to obtaining a licenceto operate in the area.	Drilling was conducted within the Malian ExploitationConcession Permit PE 93/003 which has an area of200.6km2Resolute Mining Limited has an 80% interest in the Syamaproject and the Exploitation Permit PE—93/003, on which itis based, through its Malian subsidiary, Sociêtê des Minesde Syama SA (SOMISY). The Malian Government holds afree carried 20% interest in SOMISY.The Permit is held in good standing. Malian mining lawprovides that all mineral resources are administered byDNGM (Direction Nationale de la Géologie et des Mines) orNational Directorate of Geology and Mines under theMinistry of Mines, Energy and Hydrology.
Explorationdone by otherparties	• Acknowledgment and appraisal of exploration byother parties.	The Syama deposit was originally discovered by a regionalgeochemical survey undertaken by the Direction Nationalde Géologie et des Mines (DNGM) with assistance fromthe United Nations Development Program (UNDP) in 1985.There had also been a long history of artisanal activities onthe hill where an outcropping chert horizon originallymarked the present-day position of the open pit.BHP during 1987-1996 sampled pits, trenches, auger, RCand diamond drill holes across Syama prospects.Randgold Resources Ltd during 1996-2000 sampled pits,trenches, auger, RAB, RC and diamond drill holes acrossSyama prospects.
Geology	• Deposit type, geological setting and style ofmineralisation.	The Syama Project is found on the northern margin of theAchaean-Proterozoic Leo Shield which forms the southernhalf of the West African Craton. The project area straddlesthe boundary between the Kadiana–Madinani terrane andthe Kadiolo terrane. The Kadiana-Madinani terrane isdominated by greywackes and a narrow belt of interbeddedbasalt and argillite. The Kadiolo terrane comprisespolymictic conglomerate and sandstone that were sourcedfrom the Kadiana-Madinani terrane and deposited in a lateto syntectonic basin.Prospects are centred on the NNE striking, west dipping,Syama-Bananso Fault Zone and Birimian volcanosedimentary units of the Syama Formation. The majorcommodity being sought is gold.
Drill holeInformation	• A summary of all information material to theunderstanding of the exploration results including atabulation of the following information for all Material drillholes:o easting and northing of the drill hole collar.o elevation or RL (Reduced Level – elevation abovesea level in metres) of the drill hole collar.o dip and azimuth of the hole.o down hole length and interception depth.o Whole length.• If the exclusion of this information is justified on thebasis that the information is not Material and thisexclusion does not detract from the understanding of thereport,the Competent Person should clearly explain why this isthe case.	No new exploration results have been reported inthis release.The listing of the entire drill hole database used to estimatethe resource was not considered relevant for this release.

Data aggregationmethods	• In reporting Exploration Results, weighting averagingtechniques, maximum and/or minimum grade truncations(e.g. cutting of high grades) and cut-off grades areusually Material and should be stated.• Where aggregate intercepts incorporate short lengths ofhigh-grade results and longer lengths of low-graderesults, the procedure used for such aggregation shouldbe stated and some typical examples of suchaggregations should be shown in detail.• The assumptions used for any reportingof metal equivalent values should be clearly stated.	No new exploration results have been reported inthis release.Metal equivalent values are not used in reporting.
Relationshipbetweenmineralisationwidths andintercept lengths	• These relationships are particularly important in thereporting of Exploration Results.• If the geometry of the mineralisation with respect to thedrill hole angle is known, its nature should be reported.• If it is not known and only the down hole lengths arereported, there should be a clear statement to this effect(e.g. 'down hole length, true width not known').	The mineralisation is steeply dipping at approximately 600from the horizontal.Most of the drill holes are planned at local grid 0900 at ageneral inclination of -600 east to achieve as close toperpendicular to the ore zone as possible.At the angle of the drill holes and the dip of the ore zones,the reported intercepts will be slightly more than true width.
Diagrams	• Appropriate maps and sections (with scales) andtabulations of intercepts should be included for anysignificant discovery being reported. These shouldinclude, but not be limited to a plan view of drill holecollar locations and appropriate sectional views.	Relevant maps, diagrams and tabulations are included inthe body of text.
Balancedreporting	• Where comprehensive reporting of all ExplorationResults is not practicable, representative reporting ofboth low and high grades and/or widths should bepracticed to avoid misleading reporting of ExplorationResults.	Mineral Resources are being reported in thisannouncement.No new exploration results have been reported in thisrelease.
Othersubstantiveexploration data	• Other exploration data, if meaningful and material, shouldbe reported including (but not limited to): geologicalobservations; geophysical survey results; geochemicalsurvey results; bulk samples – size and method oftreatment; metallurgical test results; bulk density,groundwater, geotechnical and rock characteristics;potential deleterious or contaminating substances.	No geophysical and geochemical data and any additionalexploration information has been reported in this release,as they are not deemed relevant to the release.
Further work	• The nature and scale of planned further work (e.g. testsfor lateral extensions or depth extensions or large-scalestep-out drilling).• Diagrams clearly highlighting the areas of possibleextensions, including the main geological interpretationsand future drilling areas, provided this information is notcommercially sensitive.	Depth extension drilling is planned to test the down-dippotential of the Syama ore body at depth, and beneath thecurrent limit of drilling.

Section 3 Estimation and Reporting of Mineral Resources

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Databaseintegrity	• Measures taken to ensure that data has not been corruptedby, for example, transcription or keying errors, between itsinitial collection and its use for Mineral Resource estimationpurposes.• Data validation procedures used.	Data has been compiled into a relational SQL database; thesetup of this database precludes the loading of data whichdoes not meet the required validation protocols. The data ismanaged using DataShed© drill hole management softwareusing SQL database techniques. Validation checks areconducted using SQL and DataShed© relational databasestandards. Data has also been checked against original hardcopies for 100% of the data, and where possible, loaded fromoriginal data sources.Resolute completed the following basic validation checks onthe data supplied prior to resource estimation:• Drill holes with overlapping sample intervals.• Sample intervals with no assay data. Duplicate records.• Assay grade ranges.• Collar coordinate ranges.• Valid hole orientation data.
Site visits	• Comment on any site visits undertaken by the CompetentPerson and the outcome of those visits.• If no site visits have been undertaken indicate why thisis the case.	There are no significant issues identified with the data.The Competent Person visited site in November 2022 andJuly of 2023.
Geologicalinterpretation	• Confidence in (or conversely, the uncertainty of) thegeological interpretation of the mineral deposit.• Nature of the data used and of any assumptionsmade.• The effect, if any, of alternative interpretations on MineralResource estimation.• The use of geology in guiding and controlling MineralResource estimation.• The factors affecting continuity both of grade andgeology.	The digital database used for the interpretation includedlogged intervals for the key stratigraphic zones of Syama.Detailed geological logs were available in hardcopy anddigital and reviewed where necessary.Drill density (50m by 50m) for the majority of the Syama areaallows for confident interpretation of the geology andmineralised domains. More recent grade control (gc) drilling(at 25m by 25m spacing) confirms the positions of mineralisedzones. Geological and structural controls supportmodelledmineralisedzones, which are constrainedwithin geologicalunits.Continuity of mineralisation is affected by proximity tostructural conduits (allowing flow of mineralisedfluids),stratigraphicposition, lithology of key stratigraphicunits andporosityof host lithologies.Wireframes used to constrain the estimation for Syama Southand Nafolo are based on drill hole intercepts and geologicalboundaries. All wireframes at Syama South and Nafolo havebeen constructed to a 1g/t Au cut-off grade for shapeconsistency.The incorporation of an independent structural model (SteveKing, 2019) gives limited options for large scale alternateinterpretations.
Dimensions	• The extent and variability of the Mineral Resourceexpressed as length (along strike or otherwise), planwidth, and depth below surface to the upper and lowerlimitsof the Mineral Resource.	The Syama area extends for approximately 1,500 metres instrike and the west dipping gold mineralised zone is between100-200 metres in horizontal width, narrowing at its southernand northern limits. The Mineral Resource is limited in depthby drilling, which extends from surface to a maximum depth ofapproximately 800 metres vertically.
Estimationand modellingtechniques	• The nature and appropriateness of the estimationtechnique(s) applied and key assumptions, includingtreatment of extreme grade values, domaining,interpolation parameters and maximum distance ofextrapolation from data points. If a computer assistedestimation method was chosen include a description ofcomputer software andparameters used.	Estimation was completed in Datamine Studio RM usingCategorical Indicator (CI) approach to define the mineralisedblocks followed by an Ordinary Kriged (OK) model to estimatethe gold grade. Grades were estimated into parent block of5mE by 12.5mN by 5mRL for Syama underground and 10mEby 25 mN by 10mRl for Syama South and Nafolo. Sub- cellingdown to 5mE by 12.5mN by 5mRL was employed forresolution of the mineralisation boundary at Nafolo.

At 31 December 2023

• 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 assumptions made regarding recovery of byproducts.
• Estimation of deleterious elements or other non-grade variables of economic significance (e.g. sulphur for acid mine drainage characterization).
• In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed.
• In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed.
• Any assumptions behind modelling of selective mining units.
• Any assumptions about correlation between variables.
• Description of how the geological interpretation was used to control the resource estimates.
• Discussion of basis for using or not using grade cutting or capping.
• The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.

The categorical model used a cut-off of 1 g/t gold once the mineralised blocks have been identified another categorical model within this mineralisation is carried out at a cut-off of 2 g/t to identify higher grade zones. A 5mE by 12.5mN by 5mRL block size was employed during the categorical process used to delineate mineralised regions.

After this process, the model was reblocked up to 5mE by 25mN by 10mRL for Nafolo while retaining the smaller size blocks as subcells at mineralisation boundaries.

The resource model included estimates for sulphide sulphur and organic carbon which assist with metallurgical characterisation. The sulphide sulphur is estimated via a categorical indicator approach with a cut-off grade of 1% to identify the higher grade blocks and then an OK estimation was carried out within these blocks. Organic carbon was just estimated without boundaries into the block model. There are reduced assays at depth of these two elements so there is some smoothing at depth.

Kriging neighbourhood analysis was performed to optimise the block size, sample numbers and discretisation levels with the goal of minimising conditional bias in the gold grade estimates.

A larger blocks size for Nafolo and Syama South was chosen based on this analysis than was employed in the previous resource estimate and the wider drill spacing.

A total of three search passes was used, with the first search pass set to the range of the variogram for each element. A minimum of 10 and a maximum of 30 samples were used. The search stayed the same for the second pass but was increased by a factor of 2 for the third and final pass. The minimum number of samples was reduced to 8 for the second pass and 6 for the third pass.

Semi-soft boundaries were used between the higher grade and lower grade domains and between the lower grade domain and the waste domain for Syama Main. Two samples either side of the mineralisation boundary were used in the OK estimation. Hard boundaries were utilised for the domains at Nafolo, Syama South and all of the domains for sulphide sulphur.

Un-estimated blocks (less than 1% for gold) were assigned the domain average grades. No deleterious elements were found in the ore.

No selective mining units have been assumed.

No assumptions have been made regarding the correlation of variables although it is noted that a broad positive correlation exists between gold and sulphur.

Estimation searches have been orientated to respect the orientation of the Syama Formation which hosts the mineralisation.

Top cuts were applied to reduce the variability of the data and to remove the outliers.

The estimated block model grades were visually validated against the input drillhole data and comparisons were carried out against the drillhole data and by northing and elevation slices. Global comparison between the input data and the block grades for each variable is considered acceptable (±10%).

Comparison with the 2020 Mineral Resource was carried out.

All tonnages are estimated on a dry basis.

Moisture • Whether the tonnages are estimated on a dry basis or with

moisture content.

natural moisture, and the method of determination of the

Cut-offparameters	• The basis of the adopted cut-off grade(s) or qualityparameters applied.	Mineral Resources for the main part of Syama was reportedwithin a shape generated using a MSO (Mineable ShapeOptimiser) at 1.3g/t cut-off grade (equivalent to a US$2,000gold price) this was based on the current Sub-Level Caving(SLC) mining method. The material south of the main zonewas reported within an MSO shape generated at 1.5 g/t cutoff grade (equivalent to a US$2,000 gold price) as this isplanned to be mined by Open Stoping.
Mining factorsor assumptions	• Assumptions made regarding possible mining methods,minimum mining dimensions and internal (or, if applicable,external) mining dilution. It is always necessary as part ofthe process of determining reasonable prospects foreventual economic extraction to consider potential miningmethods, but the assumptions made regarding miningmethods and parameters when estimating MineralResources may not always be rigorous.Where this is the case, this should be reported with anexplanation of the basis of the mining assumptions made.	The current mining method for underground exploitation isSLC.The resource model extends from 1,250 mRL to 600 mRL.Open pit mining methods were used by Resolute to 1,120mRL. Material testing conducted on samples ofunderground ore confirmed that properties such asmetallurgical factors, structural trends and geologicalcontinuity remain the same as observed in the fresh rockportion of the open pit.This Mineral Resource does not account for miningrecovery.
Metallurgicalfactorsor assumptions	• The basis for assumptions or predictions regardingmetallurgical amenability. It is always necessary as partof the process of determining reasonable prospects foreventual economic extraction to consider potentialmetallurgical methods, but the assumptions regardingmetallurgical treatment processes and parameters madewhen reporting Mineral Resources may not always berigorous. Where this is the case, this should be reportedwith an explanation of the basis of the metallurgicalassumptions made.	Resolute has conducted metallurgical testwork onvariability samples taken from within the proposedunderground ore zone. A testwork program was supervisedby consultants MineLogix Pty Ltd based on analyticaltestwork completed at ALS Metallurgy Laboratory.The program included comminution, flotation, roasting andleaching assessments.The planned processing flowsheet involves crushing, milling,flotation and roasting, followed by CIL recovery of thecalcine product. The Syama sulphide processing facility hasbeen in operation in its current form since 2007.The various testwork programs did not identify anycontrasting metallurgical behaviour from samples within theundergroundore zone and the performance of theunderground ore typically matches that observed for open pitore.
Environmentalfactorsor assumptions	• Assumptions made regarding possible waste andprocess residue disposal options. It is always necessaryas part of the process of determining reasonableprospects for eventual economic extraction to considerthe potential environmental impacts of the mining andprocessing operation. While at this stage thedetermination of potential environmental impacts,particularly for a green fields project, may not always bewell advanced, the status of early consideration of thesepotential environmental impacts should be reported.Where these aspects have not been considered thisshould be reported with an explanation of theenvironmental assumptions made.	It is a requirement of Decree No.03-594/P-RM of 31December 2003 of Malian law that an Environmental andSocial Impact Study (Étude d'Impact Environmental et Social –EIES) must be undertaken to update the potentialenvironmental and social impacts of the mine'sredevelopment. The EIES for the Syama Gold Mine wasapproved in November 2007 and an Environment Permit(07- 0054/MEA – SG) was issued by the Ministry ofEnvironment and Sanitation on the 22 November 2007. TheMinistry of Environment conduct timely reviews of the SyamaGold Mine to ensure that the Company maintains compliancewith the EIES guidelines.At Syama there are three key practices for disposal ofwastes and residues namely, stacking of waste rock fromopen pit mining; storage of tailings from mineral processes;and "tall-stack dispersion" of sulphur dioxide from the roastingof gold bearing concentrate. All waste disposal practices arein accordance with the guidelines in the EIES.The Environmental and Social Impact Study – "Société desMines de Syama, Syama Gold Mine, Mali, dated 2007indicated there was minimal potential for acid mine drainagefrom waste rock due to the elevated carbonate contentwhich buffers a potential acid generation. Resolutemaintains a plan for progressive rehabilitation of waste rocklandforms as part of ongoing mine development and wasterock dumping.The landform of tailings impoundments does not have a netacid generating potential. The largest volume is flotationtailings where the sulphide minerals have already beenremoved from the host rock. Its mineralogy includes

		carbonates which further buffer any acid-formation potentialfrom sulphides that may also be present.Cyanide levels in the leached-calcine tailings are typicallyless than 50 ppm in the weak acid dissociable form.Groundwater away from the tailing's landform is interceptedby trenches and sump pumps.Sulphur dioxide is generated from the roasting of goldconcentrate so that gold can be extracted and refined. TallStack "dispersion" of the sulphur dioxide emission is monitoredcontinuously. Prevailing weather and dissipation of the sulphurdioxide is modelled daily to predict the need to pause theroasting process to meet the air quality criteria set out in theEnvironmental and Social Impact Study.
Bulk density	• Whether assumed or determined. If assumed, the basis forthe assumptions. If determined, the method used, whetherwet or dry, the frequency of the measurements, the nature,size and representativeness of the samples.• The bulk density for bulk material must have beenmeasured by methods that adequately account for voidspaces (vugs, porosity, etc), moisture and differencesbetween rock and alteration zones within the deposit.• Discuss assumptions for bulk density estimates used in theevaluation process of thedifferent materials.	Site personnel have completed numerous bulk densitycomparative estimates on HQ drill core to assessvariability using the Archimedes method of dry weightversus weight in water. This method was used for 96% of thebulk density measurements.Other tests were completed by SGS using the pycnometermethod.Based on the data collected the following SG estimates wereapplied to the model:•Syama Formation2.82•Sikoro Formation2.75•Banmbere Conglomerate2.75SIKOROFORMATIONSYAMABANMBERECONGLOMERATEFORMATION
Classification	• The basis for the classification of the Mineral Resourcesinto varying confidence categories.• Whether appropriate account has been taken of allrelevant factors (i.e. relative confidence in tonnage/gradeestimations, reliability of input data, confidence incontinuity of geology and metal values, quality, quantityand distribution of the data).• Whether the result appropriately reflects the CompetentPerson's view of the deposit.	The Measured Mineral Resource classification is based ongood confidence in the geology and gold grade continuity withless than 25m x 25m spaced drillhole density in the centralpart of the deposit directly below the current pit.The Indicated Mineral Resource classification is based ongood confidence in the geology and gold grade continuity withless than 75m x 75m spaced drillhole density in the centralpartof the deposit.The Inferred Mineral Resource classification is applied toextensions of mineralised zones on the margins of thedeposit where drill spacing is more than 100m x 100m andthe extents of mineralisation at depth. The Nafolo orebody tothe south of Syama which is tested by wider drill spacing hasalso been classified as Inferred.The validation of the block model has confirmed satisfactorycorrelation of the input data to the estimated grades andreproduction of data trends.

		The Mineral Resource estimate appropriately reflects the viewof the Competent Persons.
Audits or reviews	• The results of any audits or reviews of Mineral Resourceestimates.	The Mineral Resource has been audited internally and inconjunction with resource consultants at Snowden Optiro PtyLtd as part of the routine validation process. There has beenno external review of the Mineral Resource estimate.
Discussion ofrelativeaccuracy/confidence	• Where appropriate a statement of the relative accuracy andconfidence level in the Mineral Resource estimate usingan approach or procedure deemed appropriate by theCompetent Person. For example, the application ofstatistical or geostatistical procedures to quantify therelative accuracyof the resource within stated confidence limits, or, if suchan approach is not deemed appropriate, a qualitativediscussion of the factors that could affect the relativeaccuracy and confidence of the estimate.• The statement should specify whether it relates to global orlocal estimates, and, if local, state the relevant tonnages,which should be relevant to technical and economicevaluation. Documentation should include assumptionsmade and the procedures used.• These statements of relative accuracyand confidence of the estimate should be compared withproduction data, where available.	The relative accuracy of the MineralResource estimate isreflected in the reporting of Indicated and Inferred resourcecategories as defined by 2012 JORC Code guidelines.The geostatistical techniques applied to the estimate ofunderground resources at Syama are deemed appropriateto the estimation of Sub Level Caving (SLC) mining methodand hence applicable for reserve estimation.The estimation was compared with the production history atSyama and it is within 15-20% which is within the limits forthe relevant classifications.

Section 4 Estimation and Reporting of Ore Reserves

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Mineral Resourceestimate forconversion to OreReserves	• Description of the Mineral Resource estimate used as abasis for the conversion to anOre Reserve.• Clear statement as to whether the Mineral Resourcesare reported additional to, or inclusive of, the OreReserve.	The Syama 1123 Mineral Resource is the basis for theestimation of Syama Ore Reserves.The Mineral Resources are reported inclusive of OreReserves.
Site visits	• Comment on any site visits undertaken by theCompetent Person and the outcome of those visits.• If no site visits have been undertaken indicate why thisisthe case.	The Competent Person, Mr. Gito Patani, is a full-timeemployee of Resolute Mining Ltd and a Member of theAustralasian Institute of Mining and Metallurgy. He startedwith the company in 2021 and conducts site visit to theproject area on a regular basis and weekly contact with siteteams was maintained throughout teams meetings.
Study status	• The type and level of study undertaken to enableMineral Resources to be converted to Ore Reserves.• The Code requires that a study to at least PreFeasibility Study level has been undertaken to convertMineral Resources to Ore Reserves. Such studies willhave been carried out and will have determined a mineplan that is technically achievable and economicallyviable, and that material Modifying Factors have beenconsidered.	Pre-Feasibility and Feasibility studies were previouslyconducted for Syama. The Syama UG mine is a goingconcern. The Ore Reserves are derived from LOM planmaintained for the ongoing scheduling and management ofSyama UG operations.
Cut-off parameters	• The basis of the cut-off grade(s) or quality parametersapplied.	The LOM plan for Syama is designed based on constant cut-offgrade with dilution and recovery estimation undertaken in caveflow modelling. The cut-off grade strategy used for cave flowmodelling is based on COG calculation for various years fromFy23 financial model.The COG is estimated using: a gold price of USD 1,650/oz, ametallurgical recovery of 78%, an ad valorem royalty rate of 6%.
Mining factorsor assumptions	• The method and assumptions used as reported in the PreFeasibility or Feasibility Study to convert the MineralResource to an Ore Reserve (i.e. either by application ofappropriate factors by optimization or by preliminary ordetailed design).• The choice, nature and appropriateness of the selectedmining method(s) and other mining parameters includingassociated design issues such as pre-strip, access, etc.• The assumptions made regarding geotechnicalparameters (e.g. pit slopes, stope sizes, etc.), gradecontrol and pre-production drilling.• The major assumptions made and Mineral Resourcemodel used for pit and stope optimization (if appropriate).• The mining dilution factors used.• The mining recovery factors used.• Any minimum mining widths used.• The manner in which Inferred Mineral Resources areutilized in mining studies andthe sensitivity of the outcome to their inclusion.• The infrastructure requirements of the selected miningmethods.	Most of mining at Syama UG is planned to be undertaken bySub-Level Caving (SLC) mining methods. Geotechnical studieshave concluded that the deposit is amenable to SLC, and thatcaving is likely to be induced at hydraulic radius of between 12and 17m. Observed progress from mining to date supports theseconclusions.Resolute undertakes a program of grade control drilling at SyamaUG to progressively upgrade its geological confidence at Syamaand enable further detailed mine planning.The Ore Reserve was estimated using the block model preparedfor estimating the 2023 Mineral Resource.The Syama LOM plan is prepared —from the Mineral Resourceblock model— using mining industry standard computer aideddesign and scheduling software. Initially, production rings aredesigned to extract ore. Subsequently, lateral development andother infrastructure are designed to access production rings andenable safe and efficient ore extraction.Mining dilution and recovery are estimated for production ringsusing flow modelling software, PGCA. Dilution and recovery areinversely related at Syama. In general, the greater the recovery,the higher the level of dilution that will be experienced. TheSyama LOM planning process balances recovery against dilutionso the cash-flow is maximizedWith respect to minimum mining widths, production areas atSyama are planned to ensure that minimum hydraulic radius isachieved so that caving is induced in the overlying ground.

Metallurgicalfactorsor assumptions	• The metallurgical process proposed and theappropriateness of that process to the style ofmineralization.• Whether the metallurgical process is well-testedtechnology or novel in nature.• The nature, amount and representativeness ofmetallurgical test work undertaken, the nature of themetallurgical domaining applied and the correspondingmetallurgical recovery factors applied.• Any assumptions or allowances made for deleteriouselements.• The existence of any bulk sample or pilot scale test workand the degree to which such samples are consideredrepresentative of the ore body as a whole.• For minerals that are defined by a specification, has theore reserve estimation been based on the appropriatemineralogy to meet the specifications?	Inferred Mineral Resources are not included in the Syama UGmine planning. All material from Syama Underground for 2023OR inventory is categorised as Probable; comprised mainly ofIndicated material. All Inferred and Unclassified material isclassified as waste and not included in ore reservesThe infrastructure necessary to extract the Syama UG OreReserve is maintained by the company.The Syama deposit is refractory due to locking of gold withinthe sulphides and variable amounts of reactive natural carbonwhich robs cyanide leach solutions of dissolved gold.Resolute has years of operating data processing Syama oreand metallurgical testwork data. Processing of the ore will bevia the following stages:Crushing and grinding.Flotation to produce a sulphide rich concentrate.Concentrate thickening.Roasting, followed by calcine quench and wash.CIL.Tailings disposal.
Environmental	• The status of studies of potential environmental impacts ofthe mining and processing operation. Details of waste rockcharacterization and the consideration of potential sites,status of design options considered and, whereapplicable, the status of approvals for process residuestorage and waste dumps should be reported.	The Syama Gold Mine operates in accordance with its'Environmental & Social Impact Study – "Société des Minesde Syama, Syama Gold Mine, Mali, dated 2007. Waste rockcharacterisation has been included in prior studies for thisEnvironmental & Social Impact Study. Work is ongoing tooptimise the mining operation and environmentalmanagement through the following :Drilling to investigate rock characteristicsMineralogical assay analysis of drill coreRoutine testing of rock material types for acid generatingpropertiesDeveloping a sequence, rate and design optimization foropen-pit mine walls, ramps and the waste rock dumplandform to meet the requirements of rock characteristics.The outcomes of this work are part of a continuousimprovement program that contributes to the waste rockdump management plans, annual reporting and consultationcommittee meetings with government and communityrepresentatives.Tailings storage for the life of mine is forecast to beimpounded over the existing footprint area approved in theEnvironmental & Social Impact Study. Progressive raising ofthe tailings impoundments will occur to contain life-of-minestorage capacity. Routine progress on the monitoring isreported to government and at stakeholder meetings inconcert with routine inspections by governmentrepresentatives.The Syama Project is mature in its operating life withenvironmental management permitted by an EnvironmentalAuthority and supported by an Environmental ManagementPlan. No impediments are anticipated to the development ofthe underground mine.
Infrastructure	• The existence of appropriate infrastructure: availability ofland for plant development, power, water, transportation(particularly for bulk commodities), labour,accommodation; or the ease with which the infrastructurecan be provided or accessed.	The Syama Mine and the underground mine site are locatednear the two major towns of Kadiola and Sikasso. Kadiola,55km southeast, is the regional capital while Sikasso,approximately 85 km to the northeast, is the second largestcity in Mali and located close to the border with Burkina Faso.Access is via formed gravel road off the sealed Sikasso toCôte d'Ivoire highway through Kadiola, and then from Fourou

		to site. Most consumables and supplies use this route as itcan be approached either from Côte d'Ivoire through theborder post at Zegoua or alternatively from Burkina Faso andTogo through Sikasso. The road north through Bananso toFarakala, on the main highway from Bamako to Sikasso,provides an alternate and shorter route to Bamako. This roadis generally impassable during the wet season when the lowlevel "bridge" at Bananso is covered with water.Supporting infrastructure for the current operations hasincluded upgrading of the 70km section of road from Kadiolato the site, refurbishment of administration buildings, plantsite buildings and accommodation for housing expatriate andsenior national staff. The underground operations will alsouse this infrastructure, with additional allowance made in thestudy for underground specific infrastructure on surface, suchas primary ventilation fan installations, additional work shopsand offices, and change rooms for underground workers.The site is serviced by two Internet and mobiletelecommunications providers (Sotelma & Orange), inaddition to a point to point satellite connection to Perth.The current operation has a peak continuous power demandof approximately 22MW with an installed power capacity of27MW. Power is currently supplied from a diesel fired powerstation. Supply of power from the national grid is beingconsidered in the near future and was incorporated into theunderground study
Costs	• The derivation of, or assumptions made, regardingprojected capital costs in the study.• The methodology used to estimate operating costs.• Allowances made for the content of deleterious elements.• The derivation of assumptions made of metalor commodity price(s), for the principal minerals and coproducts.• The source of exchange rates used in the study.• Derivation of transportation charges.• The basis for forecasting or source of treatment andrefining charges, penalties for failure to meet specification,etc.• The allowances made for royalties payable, bothGovernment and private.	Syama is a going concern with established mining,processing and administration operations with respect to costestimates. As part of ongoing operations, capital andoperating budgets are prepared from first principles andconsidering existing contractual agreements.Syama produces gold doré (without problematic deleteriouselements) that is subsequently refined offsite. Refining costsare not material.Exchange rates used for planning purposes are fromconsensus forecasts provided by external corporate advisers.Ad valorem Government royalties of 6% are payable on goldproduction.
Revenuefactors	• The derivation of, or assumptions made regardingrevenue factors including head grade, metal or commodityprice(s) exchange rates, transportation and treatmentcharges, penalties, net smelter returns, etc.• The derivation of assumptions made of metal orcommodity price(s), for the principal metals, minerals andco-products.	Syama's head grade is estimated by mine planning and flowmodelling from the Mineral Resource Estimate.All revenue and cost estimates have been made in USD.The Ore Reserve is based on a planning gold price ofUS$1,650/oz.
MarketAssessment	• The demand, supply and stock situation for the particularcommodity, consumption trends and factors likely to affectsupply and demand into the future.• A customer and competitor analysis along with theidentification of likely market windows for the product.• Price and volume forecasts and the basis for theseforecasts.• For industrial minerals the customer specification, testingand acceptance requirements prior to a supply contract.	There is a transparent quoted market for the sale of gold.
Economic	• The inputs to the economic analysis to produce the netpresent value (NPV) in the study, the source andconfidence of these economic inputs including estimatedinflation, discount rate, etc.• NPV ranges and sensitivity to variations in the significantassumptions and inputs.	The economic assessment of the project demonstrates robusteconomics.

Social	• The status of agreements with key stakeholders andmatters leading to social license to operate.	Resolute assumed management of Société des Mines deSyama in May 2004. The recently completed open pitoperated under the 1993 Permit Syama (No.PE-93/003) andthe proposed underground will do the same.The selected posts requiring specific skills or experience willmost likely be filled by expatriates. In addition to performingtheir job function, expatriate personnel will be expected totransfer knowledge and expertise to develop their Malianstaff's capabilities. In the longer term it is anticipated thatMalian nationals will fill most operating and managementpositions within the company.It is the intention to encourage economic development withinthe local community. Local contracts therefore, are letwherever possible and the company works actively withexisting and emerging companies to achieve this aim.The Syama Mine Community Consultative Committee was
		established in February 2001 with representatives from localvillages, the Malian Government and SOMISY. Since April2004 the Committee has met regularly as a communicationforum and to address community issues and assist withcommunity project proposals.
Other	• To the extent relevant, the impact of the following on theproject and/or on the estimation and classification of theOre Reserves:• Any identified material naturally occurring risks.• The status of material legal agreements and marketingarrangements.• The status of governmental agreements and approvalscritical to the viability of the project, such as mineraltenement status, and government and statutory approvals.There must be reasonable grounds to expect that allnecessary Government approvals will be received withinthe timeframes anticipated in the Pre-Feasibility orFeasibility study. Highlight and discuss the materiality ofany unresolved matter that is dependent on a third partyon which extraction of the reserve is contingent.	High seasonal rain fall events present a risk for theunderground operations.All current government agreements and approvals are ingood standing and no anticipated changes are expected.
Classification	• The basis for the classification of the Ore Reserves intovarying confidence categories.• Whether the result appropriately reflects the CompetentPerson's view of the deposit.• The proportion of Probable Ore Reserves that have beenderived from Measured Mineral Resources (if any).	All Measured and Indicated Resources were converted toProbable Reserves, given the sub-level caving method.
Audits or reviews	• The results of any audits or reviews of Ore Reserveestimates.	Snowden Mining Industry Consultants completed the SyamaUnderground Pre-Feasibility study in 2015 and latercontributed to detailed designs incorporated in the DefinitiveFeasibility Study. Subsequent mining studies have beenconducted in conjunction with various industry experts fromexternal companies relevant to the areas of study.No other external audits of Ore Reserves were undertaken.
Discussion ofrelative accuracy/confidence	• Where appropriate a statement of the relative accuracy andconfidence level in the Ore Reserve estimate using anapproach or procedure deemed appropriate by theCompetent Person. For example, the application of statisticalor geostatistical procedures to quantify the relative accuracyof the reserve within stated confidence limits, or, if such anapproach is not deemed appropriate, a qualitative discussion	Treatment costs and recoveries are based on the actualperformance of processing underground ore and providea high level of confidence.Resolute has extensive experience with a similarunderground operation at the Company's Mt Wright mine inAustralia. This experience was combined with industryaverage assumptions, where required, to provide a level of

At 31 December 2023

of the factors which could affect the relative accuracy and confidence of the estimate.

• 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.
• Accuracy and confidence discussions should extend to specific discussions of any applied Modifying Factors that may have a material impact on Ore Reserve viability, or for which there are remaining areas of uncertainty at the current study stage.
• It is recognized that this may not be possible or appropriate in all circumstances. These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.

accuracy and confidence

that falls within the required standard for a Definitive Feasibility Study and the subsequent Mining studies.

All the parameters assumed and adopted including the financial modelling and analysis have been subject to internal peer review.

The Ore Reserve estimate is based on the Mineral Resource estimate. Consequently, the Ore Reserve estimate accuracy is dependent on the Mineral Resource estimate accuracy.

At 31 December 2023

Tabakoroni

Section 1 Sampling Techniques and Data

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Samplingtechniques	• Nature and quality of sampling (e.g. cut channels, randomchips, or specific specialised industry standard measurementtools appropriate to the minerals under investigation, such asdown hole gamma sondes, or handheld XRF instruments,etc.). These examples should not be taken as limiting thebroad meaning of sampling.• Include reference to measures taken to ensure samplerepresentivity and the appropriate calibration of anymeasurement tools or systems used.• Aspects of the determination of mineralisation that are Materialto the Public Report.• In cases where 'industry standard' work has been done thiswould be relatively simple (e.g. 'reverse circulation drilling wasused to obtain 1 m samples from which 3 kg was pulverised toproduce a 30 g charge for fire assay'). In other cases moreexplanation may be required, such as where there is coarsegold that has inherent sampling problems. Unusualcommodities or mineralisation types (e.g. submarine nodules)may warrant disclosure of detailed information.	The samples were collected from reverse circulation (RC) anddiamond core drill holes.RC samples were collected on 1m intervals by riffle split (dry)or by scoop (wet), to obtaina 1-3kg sample which was sent to the laboratory for crushing,splitting and pulverising to provide a 30g charge for analysis.Diamond core was sampled at 1m intervals and cut in half, toprovide a 2-4kg sample,which was sent to the laboratory for crushing, splitting andpulverising to provide a 30g charge for analysis.Sampling and sample preparation protocols are industrystandard and are deemed appropriate by the CompetentPerson.
Drillingtechniques	• 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 ifso, by what method, etc.).	Drill types used include diamond core of PQ and HQ sizesand RC.Core is oriented at 3m down hole intervals using a Reflex Act IIRD Orientation Tool.
Drill samplerecovery	• Method of recording and assessing core and chip samplerecoveries and results assessed.• Measures taken to maximise sample recovery and ensurerepresentative nature of the samples.• Whether a relationship exists between sample recovery andgrade and whether sample bias may have occurred due topreferential loss/gain of fine/coarse material.	Drill core interval recoveries are measured from core block tocore block using a tape measure.Appropriate measures are taken to maximise sample recoveryand ensure the representative nature of the samples.No apparent relationship is noted between sample recoveryand grade.
Logging	• Whether core and chip samples have been geologically andgeotechnically logged to a level of detail to support appropriateMineral Resource estimation, mining studies and metallurgicalstudies.• Whether logging is qualitative or quantitative in nature. Core(or costean, channel, etc.) photography.• The total length and percentage of the relevant intersectionslogged.	Drill holes were geologically logged by geologists for colour,grainsize, lithology, minerals, alteration and weathering ongeologically-domained intervals.Geotechnical and structure orientation data was measured andlogged for all diamond core intervals.Diamond core was photographed (wet and dry).Holes were logged in their entirety (100%) and this loggingwas considered reliable and appropriate.
Sub-samplingtechniquesand samplepreparation	• If core, whether cut or sawn and whether quarter, half or allcore taken.• If non-core, whether riffled, tube sampled, rotary split, etc. andwhether sampled wet or dry.• For all sample types, the nature, quality and appropriatenessof the sample preparation technique.• Quality control procedures adopted for all sub-sampling stagesto maximise representivity of samples.• Measures taken to ensure that the sampling is representativeof the in-situ material collected, including for instance resultsfor field duplicate/second-half sampling.• Whether sample sizes are appropriate to the grain size of thematerial being sampled.	Diamond core was sampled at 1m intervals and cut in half toobtain a 2-4kg sample.Reverse circulation samples were collected on 1m intervals byriffle split (dry) or by scoop (wet) to obtain a 1-3kg sample.Sample preparation for diamond core and RC samplesincludes oven drying, crushing to 10mm, splitting andpulverising to 85% passing -75µm. These preparationtechniques are deemed to be appropriate to the material beingsampled.Drill core coarse duplicates were split by the laboratory aftercrushing at a rate of 1:20 samples. Reverse circulation fieldduplicates were collected by the Company at a rate of 1:20samples.

		Sampling, sample preparation and quality control protocols areof industry standard and all attempts were made to ensure anunbiased representative sample was collected. The methodsapplied in this process were deemed appropriate by theCompetent Person.
Quality of assaydata andlaboratory tests	• The nature, quality and appropriateness of the assaying andlaboratory procedures used and whether the technique isconsidered partial or total.• For geophysical tools, spectrometers, handheld XRFinstruments, etc., the parameters used in determining theanalysis including instrument make and model, reading times,calibrations factors applied and their derivation, etc.• Nature of quality control procedures adopted (e.g. standards,blanks, duplicates, external laboratory checks) and whetheracceptable levels of accuracy (i.e. lack of bias) and precisionhave been established.	All samples were dispatched to ALS Bamako for gold analysisby 30g fire assay fusion with AAS instrument finish (methodcode Au-AA25). Over-range results were re-analysed andreported by 30g fire assay fusion with gravimetric finish(method code Au-GRA21). The analytical method wasappropriate for the style of mineralisation.No geophysical tools were used to determine elementalconcentrations.Quality control (QC) procedures included the use of certifiedstandards (1:40), non-certified sand blanks (1:40), diamondcore coarse duplicates (1:20) and reverse circulation fieldduplicates (1:20).Laboratory quality control data, including laboratory standards,blanks, duplicates, repeats, grind size results and sampleweights were also captured into the digital database.Analysis of the QC sample assay results indicates that anacceptable level of accuracy and precision has been achieved.
Verification ofsamplingand assaying	• The verification of significant intersections by eitherindependent or alternative company personnel.• The use of twinned holes.• Documentation of primary data, data entry procedures, dataverification, data storage (physical and electronic) protocols.• Discuss any adjustment to assay data.	Verification of significant intersections have been completed bythe Company personnel and the Competent Person.No drill holes within the resource area were twinned.Drill holes were logged into digital templates with lookupcodes, validated and then compiled into a relational SQL 2012database using DataShed data management software. Thedatabase has verification protocols which are used to validatethe data entry. The drill hole database is backed up on a dailybasis to the head office server.Assay result files were reported by the laboratory in PDF andCSV format and imported into the SQL database withoutadjustment or modification.
Location ofdata points	• Accuracy and quality of surveys used to locate drill holes(collar and down-hole surveys), trenches, mine workings andother locations used in Mineral Resource estimation.• Specification of the grid system used.• Quality and adequacy of topographic control.	Collar coordinates were picked up in UTM (WGS84) by staffsurveyors using an RTK DGPS with an expected accuracy of0.05m; elevations were height above EGM96 geoid.Down hole surveys were collected at intervals between 5mand 30m using either a Reflex EZ-Gyro north seekinginstrument or a Reflex EZ-Trac magnetic instrument in singleshot or multi shot mode. A time-dependent declination wasapplied to the magnetic readings to determine UTM azimuth.Coordinates and azimuths are reported in UTM WGS84 Zone29 North.Coordinates were translated to local mine grid using 1 pointand rotation.Local topographic control is via LIDAR surveys, satellitephotography and drone UAVaerial survey.
Data spacing anddistribution	• Data spacing for reporting of Exploration Results.• Whether the data spacing and distribution is sufficient toestablish the degree of geological and grade continuityappropriate for the Mineral Resource and Ore Reserveestimation procedure(s) and classifications applied.• Whether sample compositing has been applied.	Drill hole spacing was sufficient to demonstrate geological andgrade continuity appropriate for a Mineral Resource and theclassifications applied under the 2012 JORC Code.The appropriateness of the drill spacing was reviewed by thegeological technical team, both on site and head office. Thiswas also reviewed by the Competent Person.Samples were collected on 1m intervals; no samplecompositing is applied during sampling.

Orientation ofdata in relation togeologicalstructure	• Whether the orientation of sampling achieves unbiasedsampling of possible structures and the extent to which this isknown, considering the deposit type.• If the relationship between the drilling orientation and theorientation of key mineralised structures is considered to haveintroduced a sampling bias, this should be assessed andreported if material.	Holes were drilled predominantly perpendicular to mineraliseddomains where possible.No orientation-based sampling bias has been identified inthe data.
Sample security	• The measures taken to ensure sample security.	Samples were collected from the drill site and stored on site.All samples were individually bagged and labelled with uniquesample identifiers, then securely dispatched to thelaboratories. All aspects of sampling and dispatch processwere supervised and tracked by SOMIFI personnel.
Audits or reviews	• The results of any audits or reviews of sampling techniquesand data.	External audits of procedures indicate protocols are withinindustry standards.

At 31 December 2023

Section 2 Reporting of Exploration Results

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Mineraltenement andland tenurestatus	• Type, reference name/number, location and ownershipincluding agreements or material issues with third parties suchas joint ventures, partnerships, overriding royalties, native titleinterests, historical sites, wilderness or national park andenvironmental settings.• The security of the tenure held at the time of reporting alongwith any known impediments to obtaining a licence to operatein the area.	Tabakoroni drilling was completed within the Finkolo-TabakoroniExploitation Licence PE 13/19. Resolute Mining Limited has an85% interest in Exploitation Permit PE 13/19, through its Maliansubsidiary, Sociêtê des Mines de Finkolo SA (SOMIFI). TheMalian Government holds a free carried 10% interest in SOMIFI.The Permits are held in good standing. Malian mining lawprovides that all Mineral Resources are administered by DNGM(Direction Nationale de la Géologie et des Mines) or NationalDirectorate of Geology and Mines under the Ministry of Mines,Energy and Hydrology.
Exploration doneby other parties	• Acknowledgment and appraisal of exploration by other parties.	Etruscan Resources Inc explored Tabakoroni during 2002-2003by auger, aircore, RC and diamond drill hole tails. TheTabakoroni area was previously explored by BHP (1988-1990)and Barrick Gold (1990) by auger, pits, trenches, RAB anddiamond core drilling.
Geology	• Deposit type, geological setting and style of mineralisation.	The Tabakoroni deposit is hosted in upright tightly foldedgreenstone rocks of the Syama Formation, comprisinginterbedded basalt and sediment units, and an overlyingcomplex sequence of deep marine and turbiditic sediments. Thesequence overlying the basalts contains interbeddedcarbonaceous units (silts and shales) that are preferentiallydeformed, and which form the Tabakoroni Main Shear Zone(TMSZ) that lies along the approximate contact of thegreenstone-sediment sequence. Gold mineralisation occurswithin the TMSZ associated with quartz vein stockworks andstylolitic quartz reefs.
Drill holeInformation	• A summary of all information material to the understanding ofthe exploration results including a tabulation of the followinginformation for all Material drill holes:oeasting and northing of the drill hole collaroelevation or RL (Reduced Level – elevation above sealevel in metres) of the drill hole collarodip and azimuth of the holeodown hole length and interception depthoWhole length.• If the exclusion of this information is justified on the basis thatthe information is not Material and this exclusion does notdetract from the understanding of the report, the CompetentPerson should clearly explain why this is the case.	All information, including easting, northing, elevation, dip,azimuth, coordinate system, drill hole length, intercept lengthand depth are measured and recorded in UTM Zone 29 WGS84.The Syama belt is mostly located on the Tengrela 1/200,000topo sheet (Sheet NC 29-XVIII).The Tabakoroni local grid has been tied to the UTM Zone 29WGS84 co-ordinate system.Spectrum Survey and Mapping from Australia established surveycontrol at Tabakoroni using AusPos online processing to obtainan accurate UTM Zone 29 (WGS84) and 'above geoid' RL forthe origin of the survey control points.Accuracy of the survey measurements is considered to meetacceptable industry standards.Drill hole information has been tabulated for this release in theintercepts table of the accompanying text.For completeness the following information about the drill holesis provided:•Easting, Northing and RL of the drill hole collars aremeasured and recorded in UTM Zone 29 (WGS84).•Dip is the inclination of the drill hole from horizontal. A drillhole drilled at -60° is 60° from the horizontal.•Down hole length is the distance down the inclination of thehole and is measured as the distance from the horizontal toend of hole.•Intercept depth is the distance from the start of the hole downthe inclination of the hole to the depth of interest or assayedinterval of interest.

Data aggregationmethods	• In reporting Exploration Results, weighting averagingtechniques, maximum and/or minimum grade truncations (e.g.cutting of high grades) and cut-off grades are usually Materialand should be stated.• Where aggregate intercepts incorporate short lengths of highgrade results and longer lengths of low-grade results, theprocedure used for such aggregation should be stated andsome typical examples of such aggregations should be shownin detail.• The assumptions used for any reporting of metal equivalentvalues should be clearly stated.	No new exploration results have been reported in this release.Metal equivalent values are not used in reporting.
Relationshipbetweenmineralisationwidths andintercept lengths	• These relationships are particularly important in the reporting ofExploration Results.• If the geometry of the mineralisation with respect to the drillhole angle is known, its nature should be reported.• If it is not known and only the down hole lengthsare reported, there should be a clear statement to this effect(e.g. 'down hole length, true width not known').	The majority of the Tabakoroni mineralisation is vertical. There isone domain which dips at 45oto the west.The majority of the drill holes are planned at a general inclinationof -60 degrees east and as close to perpendicular to the orezone as possible.At the angle of the drill holes and the dip of the ore zones, thereported intercepts will be slightly more than true width.
Diagrams	• Appropriate maps and sections (with scales) and tabulations ofintercepts should be included for any significant discoverybeing reported These should include, but not be limited toa plan view of drill hole collar locations and appropriatesectional views.	Relevant maps, diagrams and tabulations are included in thebody of text.
Balancedreporting	• Where comprehensive reporting of all Exploration Results isnot practicable, representative reporting of both low and highgrades and/or widths should be practiced to avoid misleadingreporting of Exploration Results.	Mineral Resources are being reported in this announcement.No new exploration results have been reported in this release.
Othersubstantiveexploration data	• Other exploration data, if meaningful and material, shouldbe reported including (but not limited to): geologicalobservations; geophysical survey results; geochemical surveyresults; bulk samples – size and method of treatment;metallurgical test results; bulk density, groundwater,geotechnical and rock characteristics; potential deleteriousor contaminating substances.	No geophysical and geochemical data or any additionalexploration information has been reported in this release,as they are not deemed relevant to the release.
Further work	• The nature and scale of planned further work (e.g. testsfor lateral extensions or depth extensions or large-scale stepout drilling).• Diagrams clearly highlighting the areas of possible extensions,including the main geological interpretations and future drillingareas, provided this information is not commercially sensitive.	Depth extension drilling is planned to test the down-dip potentialof the Tabakoroni ore body at depth, and beneath the currentlimit of drilling.

Section 3 Estimation and Reporting of Mineral Resources

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Database integrity	• Measures taken to ensure that data has not been corruptedby, for example, transcription or keying errors, between itsinitial collection and its use for Mineral Resource estimationpurposes.• Data validation procedures used.	Data has been compiled into a relational SQL database;the setup of this database precludes the loading of datawhich do not meet the required validation protocols. Thedata is managed using DataShed© drill hole managementsoftware using SQL database techniques. Validationchecks are conducted using SQL and DataShed© relationaldatabase standards. Data has also been checked againstoriginal hard copies for 100% of the data, and wherepossible, loaded from original data sources.
		Resolute completed the following basic validation checkson the data supplied prior to resource estimation:• Drill holes with overlapping sample intervals.• Sample intervals with no assay data or duplicaterecords.• Assay grade ranges.• Collar coordinate ranges.
		• Valid hole orientation data.There are no significant issues identified with the data.
Site visits	• Comment on any site visits undertaken by the CompetentPerson and the outcome of those visits.• If no site visits have been undertaken indicate why this isthe case.	Mrs Susan Havlin, an employee of Snowden Optiro Pty Ltdand aMember of the Australasian Institute of Mining andMetallurgy is the Competent Person who has visited thissite in February and October 2019.All aspects of drilling, sampling and mining are consideredby the Competent Persons to be of a high industrystandard.
Geologicalinterpretation	• Confidence in (or conversely, the uncertainty of) thegeological interpretation of the mineral deposit.• Nature of the data used and of any assumptions made.• The effect, if any, of alternative interpretations on MineralResource estimation.• The use of geology in guiding and controlling MineralResource estimation.• The factors affecting continuity both of grade and geology.	The digital database used for the interpretation includedlogged intervals for the key stratigraphic zones ofTabakoroni. Detailed geological logs were available inhardcopy and digital and reviewed where necessary.There is a high level of confidence for the interpretation ofthe Tabakoroni Main Shear Zone (TMSZ) due to the closespaced grade control drilling at surface and theconfirmation of the position in the current oxide pits. Sincean independent structural model was created there is highlevel of confidence in the geological interpretation of theminor lodes adjacent to the TMSZ.Wireframes used to constrain the estimation are based ondrill hole intercepts and geological boundaries. Allwireframes at Tabakoroni have been constructed to a 1g/tAu cut-off grade for shape consistency.The mineralisation in the TMSZ is generally quiteconsistent and drill intercepts clearly define the shape of
Dimensions	• The extent and variability of the Mineral Resourceexpressedas length (along strike or otherwise), plan width, and depthbelow surface to the upper and lower limits of the MineralResource.	the mineralised zones with limited options for large scalealternate interpretations.The mineral resource at Tabakoroni comprises fourindividual domains. The main zone is the TMSZ, whichextends for approximately 1,800 metres along strike; thesub-vertical dipping gold mineralised zone width variesbetween 1.5 and 15 metres, with an average thickness of 5metres. The Mineral Resource is limited in depth by drilling,which extends from surface to a maximum depth ofapproximately 450 metres vertically.
		There is a zone parallel to the TMSZ which is generally atdepth and not as consistent; this is dominantly in the

		central part of the deposit. The northeast (NE) domain is azone which is striking at 20° and is sub vertical in the northof the deposit. The southern lode is shallow westerlydipping lodes in the southern and central portion of thedeposit. The whole of the Tabakoroni deposit, includingdomains additional to the TMSZ, extends for 450 metres inthe horizontal plane.
Estimation andmodellingtechniques	• The nature and appropriateness of the estimation technique(s)applied and key assumptions, including treatment of extremegrade values, domaining, interpolation parameters andmaximum distance of extrapolation from data points. If acomputer assisted estimation method was chosen include adescription of computer software and parameters used.• The availability of check estimates, previous estimatesand/or mine production records and whether the MineralResource estimate takes appropriate account of such data.• The assumptions made regarding recovery of by- products.• Estimation of deleterious elements or other non-gradevariables of economic significance (e.g. sulphur for acidmine drainage characterization).• In the case of block model interpolation, the block size inrelation to the average sample spacing and the searchemployed.• In the case of block model interpolation, the block size inrelation to the average sample spacing and the searchemployed.• Any assumptions behind modelling of selective mining units.• Any assumptions about correlation between variables.• Description of how the geological interpretation was used tocontrol the resource estimates.• Discussion of basis for using or not using grade cutting orcapping.• The process of validation, the checking process used, thecomparison of model data to drill hole data, and use ofreconciliation data if available.	Estimation was completed in Datamine Studio RM usingan Ordinary Kriged model to estimate the gold grade.Grades were estimated into parent block of 5 mE by 10 mNby 5 mRL with sub- celling down to 1mE by 2 mN by 1 mRLwas employed for resolution of the mineralisationboundaries as defined by wireframes. The drill spacing atTabakoroni varies from 12.5 by 12.5 metres for gradecontrol to between 25 and 50 metres for the explorationholes.Drillhole sample data was flagged using domain codesgenerated from three-dimensional mineralisation domains.The grade control samples and exploration samples werecomposited to 1 metre intervals.Variogram orientations were largely controlled by the strikeof the mineralisation and downhole variography.Variograms for estimation purposes were determined foreach domain.Kriging neighbourhood analysis was performed to optimisethe block size, sample numbers and discretisation levelswith the goal of minimising conditional bias in the goldgrade estimates.Mineralisation domains were treated as hard boundaries inthe estimation process while oxidation surfaces weretreated as soft boundaries for gold, sulphide sulphur andorganic carbon. A hard boundary was utilised in theestimation of arsenic between fresh material andtransitional material following a boundary analysis review.Three search passes were used, with the first search passset to the range of the variogram for each element. Aminimum of 8 and a maximum of 30 samples were used.The search stayed the same for the second pass but wasincreased by a factor of 2 for the third and final pass. Theminimum number of samples was reduced to 6 for thesecond pass and 4 for the third pass.No deleterious elements were found in the ore.No selective mining units have been assumed.Top cuts were applied to reduce the variability of the dataand to remove the outliers.The estimated block model grades were visually validatedagainst the input drillhole data and comparisons werecarried out against the drillhole data and by northing andelevation slices. Global comparison between the input dataand the block grades for each variable is consideredacceptable (±10%).Comparison with the mine production to date was carriedout and was within an acceptable limit.
Moisture	• Whether the tonnages are estimated on a dry basisor with natural moisture, and the method ofdetermination of the moisture content.	All tonnages have been estimated on a dry basis.
Cut-off parameters	• The basis of the adopted cut-off grade(s) or qualityparameters applied.	Mineral Resources for open pit extraction have beenreported at a 1 g/t Au grade cut-off and above aUS$2000/oz optimised shell.

		The Mineral Resources for underground mining areundiluted and the mineralised blocks (within themineralisation wireframes) have been reported within MSOwireframes created at US$2,000/oz which is equivalent to1.75 g/t Au cut-off grade.
Mining factorsor assumptions	• Assumptions made regarding possible mining methods,minimum mining dimensions and internal (or, ifapplicable, external) mining dilution. It is alwaysnecessary as part of the process of determiningreasonable prospects for eventual economic extractionto consider potential mining methods, but theassumptions made regarding mining methods andparameters when estimating Mineral Resources may notalways be rigorous. Where this is the case, this shouldbe reported with an explanation of the basis of themining assumptions made.	A Pre-Feasibility study determined the mining methodwould be by long hole open stoping. No Mineral Resourcemargin (external) dilution has been modelled. A minimumstope dip of30 degrees on the footwall was applied. More rigorousmining assumptions and parameters will be applied duringthe conversion to Ore Reserves.
Metallurgicalfactors orassumptions	• The basis for assumptions or predictions regardingmetallurgical amenability. It is always necessary as part ofthe process of determining reasonable prospects foreventual economic extraction to consider potentialmetallurgical methods, but the assumptions regardingmetallurgical treatment processes and parameters madewhen reporting Mineral Resources may not always berigorous. Where this is the case, this should be reportedwith an explanation of the basis of the metallurgicalassumptions made.	No metallurgical factors or assumptions have been madeduring the resource estimation process as these will beaddressed during the conversion to Ore Reserves.
Environmentalfactorsor assumptions	• Assumptions made regarding possible waste andprocess residue disposal options. It is alwaysnecessary as part of the process of determiningreasonable prospects for eventual economicextraction to consider the potential environmentalimpacts of the mining and processing operation.While at this stage the determination of potentialenvironmental impacts, particularly for a green fieldsproject, may not always be well advanced, the statusof early consideration of these potentialenvironmental impacts should be reported. Wherethese aspects have not been considered this shouldbe reported with an explanation of the environmentalassumptions made.	It is a requirement of Decree No.03-594/P-RM of 31December 2003 of Malian law that an Environmental andSocial Impact Study (Étude d'Impact Environmental etSocial – EIES) must be undertaken to update the potentialenvironmental and social impacts of the mine'sredevelopment. The EIES for the Syama Gold Mine(including Tabakoroni) was approved in November 2007and an Environment Permit (07- 0054/MEA – SG) wasissued by the Ministry of Environment and Sanitation on 22November 2007. The Ministry of Environment conductstimely reviews of the Syama Gold Mine to ensure thatCompany maintains compliance with the EIES guidelines.At Syama and Tabakoroni, there are three key practices fordisposal of wastes and residues namely, stacking of wasterock from open pit mining; storage of tailings from mineralprocesses; and "tall-stack dispersion" of sulphur dioxidefrom the roasting of gold bearing concentrate. All wastedisposal practices are in accordance with the guidelines inthe EIES.The Environmental and Social Impact Study – "Société desMines de Syama, Syama Gold Mine, Mali", dated 2007indicated there was minimal potential for acid minedrainage from waste rock due to the elevated carbonatecontent which buffers a potential acid generation. Resolutemaintains a plan for progressive rehabilitation of waste rocklandforms as part of ongoing mine development and wasterock dumping.The landform of tailings impoundments does not have a net acidgenerating potential. The largest volume is flotation tailings where thesulphide minerals have already been removed from the host rock. Itsmineralogy includes carbonates which further buffer any acidformation potential from sulphides that may also be present.Cyanide levels in the leached-calcine tailings are typically less than 50ppm in the weak acid dissociable form. Groundwater away from thetailings landform is intercepted by trenches and sump pumps.Sulphur dioxide is generated from the roasting of goldconcentrate so that gold can be extracted and refined. Tall-

		Stack "dispersion" of the sulphur dioxide emission ismonitored continuously. Prevailing weather and dissipationof the sulphur dioxide is modelled daily to predict the needto pause the roasting process to meet the air quality criteriaset out in the Environmental and Social Impact Study.
Bulk density	• Whether assumed or determined. If assumed, thebasis for the assumptions. If determined, the methodused, whether wet or dry, the frequency of themeasurements, the nature, size andrepresentativeness of the samples.• The bulk density for bulk material must have beenmeasured by methods that adequately account forvoid spaces (vugs, porosity, etc), moisture anddifferences between rock and alteration zones withinthe deposit.• Discuss assumptions for bulk density estimates usedin the evaluation process of the different materials.	Site personnel have completed numerous bulk densitycomparative estimates on HQ drill core to assess variabilityusing the Archimedes method of dry weight versus weightin water. This method was used for 76% of the bulk densitymeasurements. The other 34% is by unknown method.On the basis of the data collected the following SGestimates were applied to the model by weathering type:2.12 t/m3•OxideTransitional 2.38 t/m3•2.72 t/m3•Fresh
Classification	• The basis for the classification of the MineralResources into varying confidence categories.• Whether appropriate account has been taken of allrelevant factors (i.e. relative confidence intonnage/grade estimations, reliability of input data,confidence in continuity of geology and metal values,quality, quantity and distribution of the data).• Whether the result appropriately reflects theCompetent Person's view of the deposit.	The Measured Mineral Resource classification is based on goodconfidence in the geology and gold grade continuity with 12.5 m x12.5 m spaced drillhole density in the central part of the deposit.The Indicated Mineral Resource classification is based on goodconfidence in the geology and gold grade continuity with lessthan 50 m x 50 m spaced drillhole density in the central part ofthe deposit.The Inferred Mineral Resource classification is applied toextensions of mineralised zones on the margins of the depositwhere drill spacing is more than 50 m x 50 m and the extents ofmineralisation at depth.The validation of the block model has confirmed satisfactorycorrelation of the input data to the estimated grades andreproduction of data trends.The Mineral Resource estimate appropriately reflects the view ofthe Competent Persons.
Audits or reviews	• The results of any audits or reviews of MineralResource estimates.	The Mineral Resource has been audited internally and inconjunction with resource consultants at Snowden OptiroPty Ltd as part of the routine validation process. There hasbeen an external review of the Mineral Resource estimationcompleted by Cube Consulting Pty Ltd in February 2022.
Discussion ofrelativeaccuracy/confidence	• Where appropriate a statement of the relativeaccuracy and confidence level in the MineralResource estimate using an approach or proceduredeemed appropriate by the Competent Person. Forexample, the application of statistical or geostatisticalprocedures to quantify the relative accuracy of theresource within stated confidence limits, or, if such anapproach is not deemed appropriate, a qualitativediscussion of the factors that could affect the relativeaccuracy and confidence ofthe estimate.• The statement should specify whether it relates to globalor local estimates, and, if local, state the relevanttonnages, which should be relevant to technical andeconomic evaluation. Documentation should includeassumptions made and the procedures used.• These statements of relative accuracy andconfidence of the estimate should be compared withproduction data, where available.	The relative accuracy of the Mineral Resource estimate isreflected in the reporting of Measured, Indicated andInferred resource categories as defined by 2012 JORCCode guidelines.The estimate is considered to be relevant to an annual levelof reporting of tonnage and grade.The estimation was compared with the production history atTabakoroni and it is within 15%, which is within the limitsfor the relevant classifications.

Section 4 Estimation and Reporting of Ore Reserves

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Mineral Resourceestimate forconversion toOre Reserves	• Description of the Mineral Resource estimate used asa basis for the conversion to an Ore Reserve.• Clear statement as to whether the Mineral Resourcesare reported additional to, or inclusive of, theOre Reserve.	The Ore Reserves are based on the MineralResource estimate detailed in the ASX release datedDecember 2021, prepared by Optiro Pty Ltd. Theresource was reported above a 1.75 g/t gold gradecut-off, based on an equivalent gold price ofUS$2,000/oz and an underground mining methodutilising long hole stoping mining methods with pastefill. Material below this cut-off is not included in theMineral Resource.Ore Reserves are the material reported as a sub-setof the resource, that which can be extracted from themine and processed with an economicallyacceptable outcome. The resource is depleted foropen pit material already mined and future cut backplanned for Taba North.Mineral Resources are reported inclusive of OreReserves.
Site visits	• Comment on any site visits undertaken by theCompetent Person and the outcome of those visits.• If no site visits have been undertaken indicate whythisis the case.	The Competent Person, Mr Gito Patani, is a full-timeemployee of Resolute Mining Ltd and a Member ofthe Australasian Institute of Mining and Metallurgy.Regular site visit to the project area was conductedduring the year 2023 and weekly contact with siteteams was maintained throughout the period. Thesesite visits help to validate technical and operatingassumptions used in the preparation of this orereservesThe site visit reviewed the project site and proposedportal location in the mined out Namakan Pit westernwall, a review of current operations at both Syamaand Tabakoroni, existing open pit infrastructureavailable for immediate underground use, a review ofselected drill core and various meetings were heldwith site personnel and key stakeholders to thestudy. A pit wall failure exist in the eastern wall of theNamakan pit. This failure was monitored since theoccurrence through the last couple of wet seasonand have stabilised at its natural angle of repose anddoes not pose further material risk to the proposedunderground portal location.
Study status	• The type and level of study undertaken to enableMineral Resources to be converted to Ore Reserves.• The Code requires that a study to at least PreFeasibility Study level has been undertaken toconvert Mineral Resources to Ore Reserves. Suchstudies will have been carried out and will havedetermined a mine plan that is technically achievableand economically viable, and that material ModifyingFactors have been considered.	A Pre-Feasibility Study was completed onTabakoroni Underground in late 2020.Tabakoroni open pit has been in continuous miningoperation since August 2018. During this time theperformance of the open pit has shown a positivereconciliation between mineral resources and goldproduction and delivered positive cashflows. Datafrom the current open pit operations which alsoapplies to the intended underground operation, suchas existing infrastructure and ore haulage cost, wereused as part of the underground study. The open pitreconciliation data was not considered as it relates tooxide ore only and the underground will focus onfresh ore only.No underground operations have been undertaken atTabakoroni yet. However, underground operationsand processing of similar underground material havebeen undertaken for several years at the nearbySyama Mine where the Tabakoroni Underground ore

		will also be processed under the current tolltreatment agreement, providing actual data to furthersupport the Tabakoroni study assumptions.Primary contributors to the study were:•Optiro Pty Ltd – Mineral Resources•Solid Geology Pty Ltd – Structural Model•AMC Consultants – mining geotechnicalstudy and portal review•Piteau – dewatering•Digby Wells – environmental and socialimpact assessment•Outotec – backfill, concentrate roasting,floatation plant•Osprey – security assessment•Practara – economic evaluation•ALS – metallurgical variability testing•Resolute Mining Ltd – mine design and
Cut-offparameters	• The basis of the cut-off grade(s) or qualityparameters applied.	scheduling, processing and overall studymanagementA marginal cut-off grade (COG) of 2.5 g/t gold hasbeen applied for Tabakoroni Underground. This isbased on long hole open stoping with paste fill at agold price of U$1,650/oz, metallurgical recovery of
		78%, and includes royalties of 6%.Individual underground zones and levels were furthertested to confirm each area achieves the requiredfinancial returns to offset the capital investmentrequired to access that zone or level. Subeconomical areas were removed from the reserves.
Mining factors orassumptions	• The method and assumptions used as reported in thePre-Feasibility or Feasibility Study to convert theMineral Resource to an Ore Reserve (i.e. either byapplication of appropriate factors by optimization orby preliminary or detailed design).• The choice, nature and appropriatenessof the selected mining method(s) and other miningparameters including associated design issues suchas pre-strip, access, etc.• The assumptions made regarding geotechnicalparameters (e.g. pit slopes, stope sizes, etc.), gradecontrol and pre-production drilling.• The major assumptions made and Mineral Resourcemodel used for pit and stope optimization (ifappropriate).• The mining dilution factors used.• The mining recovery factors used.• Any minimum mining widths used.• The manner in which Inferred Mineral Resources areutilized in mining studies and the sensitivity of theoutcome to their inclusion.• The infrastructure requirements of the selectedmining methods.	The Tabakoroni mineralisation is mostly steeplydipping, between 80 to 90°, with an average width of4m to 15m. Some mineralisation is located parallelto, and adjacent to the main Tabakoronimineralisation. These shallower dipping zones arelocated predominantly in a competent basalt zone,ranging in dip between 40° and 80°, with an averagewidth of 2m to 10m.Long hole open stoping is considered the mostsuitable mining method to extract the undergrounddeposit. Long term support will be providing bybackfilling the stopes with cemented paste in themain mineralised zone, create by adding binder to alarge supply of highly weathered oxide waste alreadyavailable on site from the previous open pit mines.Shallower dipping zones in the competent basaltzones will also use open stoping with pillars, whereappropriate.Longitudinal sub-level caving and open stoping withrock fill were also reviewed but not consideredappropriate methods. The mineralisation is too longand narrow to use sub-level caving and it wouldresult in caving breaking through into the currentopen pit, increasing inrush risk for the underground.Paste fill was selected over waste fill as it provides abetter cashflow with a top-down mining method,provides improved stability and in general there is alack of suitable fresh rock to use as backfill material.It also improves the extraction of parallel mineralisedzones which was not possible with open stopes andloose rock fill.The reported Ore Reserve estimates for Tabakoroniare based on Deswik.SO (Mineable Shape Optimiser/ MSO) results, followed by detailed mine design inDeswik.CAD and activity-based task and resourcescheduling in Deswik.Sched. Economic modellingwas performed in consultation with an externalfinancial consultant experienced in Malian miningeconomic modelling.

	Stope dilution is considered separately forhangingwall and footwall conditions as part of theMSO optimisation. Equivalent Linear OverbreakSlough (ELOS) is applied based on geotechnical
	domaining, resulting in 0.5 m dilution in competent(basalt) ground to 2.0 m in poor, highly structuredzones. The average dilution considered is 0.5 to 1.0
	m, applied individually to both hangingwall andfootwall conditions. A global mine recovery of 90%was applied.
	Minimum Mining Width used was 3.0 m, but averagestoping widths range between 4.5 m and 10.0 m.Level spacings are selected at 20 m vertical, floor to
	floor. Stope lengths of 10 m to 50 m arerecommended based on the geotechnical modellingand chosen level spacing. The study conservatively
	limited stope lengths to 20 m, which will be furtheroptimised during actual operations. For the shallowerdipping stopes a minimum footwall dip of 40° was
	selected to ensure blasted material can be movedeffectively to the drawpoint for loading duringproduction.
	Costs are based on existing contract mining ratesfrom the nearby Syama Operation with a contractproposal provided for the study to account for
	potential changes expected at Tabakoroni, contracthaulage rates to the Syama process plant from thecurrent Tabakoroni open pit operation, processing
	costs are based on the current Syama process plantand site costs which are understood with a highdegree of accuracy from current operations.
	Equipment for the underground were selectedconsidering the selected mining method, plannedproduction rate, existing experience and equipment
	in operation at Syama Underground. Loading will bedone by 21 tonne loaders from the developmentheadings and stopes and hauled by 63 t trucks to
	surface via a decline. From surface stockpiles orewill be hauled to the process plant at Syama usingthe current open pit truck haulage fleet and waste will
	dumped directly onto the existing open pit wastedumps.The mine plan includes an insignificant amount of
	Inferred Resources, which is not material to theoutcome of the Ore Reserves. Inferred Resourceswere considered when positioning life of mineinfrastructure but does not materially influence the
	outcome of the current reserves.Existing open pit infrastructure and a dedicated haul
	road to Syama is available for immediate use by theunderground operation. The only additionalinfrastructure consists of:
	•a power shed to house diesel generatorsfor power generation.Existing dieselgenerators will be relocated from the
	current Syama operation as part of theirpower upgrades and the power shed is just
	for weather protection.•paste plant for paste fill generation•explosives magazine (open pit operations
	did minimal blasting and did not establishan explosive magazine)
	•underground primary ventilation fans•upgraded security control facilities•minor fit-out to the existing open pit offices
	andworkshopstocomplywithunderground requirements (change house,lamp room, etc)
	• float circuit modifications to allow the existingSyama Oxide plant to process sulphide ore

Metallurgicalfactorsor assumptions	• The metallurgical process proposed and theappropriateness of that process to the style ofmineralization.• Whether the metallurgical process is well-testedtechnology or novel in nature.• The nature, amount and representativeness ofmetallurgical test work undertaken, the nature of themetallurgical domaining applied and thecorresponding metallurgical recovery factors applied.• Any assumptions or allowances made for deleteriouselements.• The existence of any bulk sample or pilot scale testwork and the degree to which such samples areconsidered representative of the ore body as a whole.• For minerals that are defined by a specification, hasthe ore reserve estimation been based on theappropriate mineralogy to meet the specifications?	Metallurgical test work was conducted on multiplesamples, representative of the spatial andmineralogical distribution of the deposit. The testsindicated that, similarly to the Syama ore, theTabakoroni ore can be double refractory in naturedue to locking of gold within the sulphides andorganic carbon. Processing of the ore will be similarto that of the Syama sulphide circuit which has beenin operation for several years and is well understood,consisting of the following stages:•Crushing and grinding utilising the existingoxide process plant infrastructure•Gravity gold recovery utilising the existingoxide gravity circuit•Flotation to produce a sulphide richconcentrate through a new flotation circuit,prior to blending with the current Syamaconcentrate circuit for further:•Concentrate thickening•Roasting, followed by calcine quench andwash•Carbon-in-leach (CIL)•Tailings disposalThe oxide crushing and grinding circuit has an oxidecapacity of 1.6 Mtpa, with a modelled sulphidethroughput capacity of up to 1.0 Mtpa. The Syamaroaster, CIL circuit and tailings storage facility hasenough capacity to process the additionalconcentrate.A number of metallurgical test work programmeshave been conducted on a range of Tabakoroni oresamples to date. The most recent variability testprogramme, conducted as part of the PFS, focussedon optimising the flowsheet to then assess themetallurgical performance of the various mineraliseddomains to be encountered. A total gold recovery of78% has been assumed based on test results todate. This is in line with similar ore being processedat Syama.
Environmental	• The status of studies of potential environmentalimpacts of the mining and processing operation.Details of waste rock characterization and theconsideration of potential sites, status of designoptions considered and, where applicable, the statusof approvals for process residue storage and wastedumps should be reported.	The Tabakoroni mining area and haul road to Syamaare covered under current environmental approvaland permitting.An active waste rock characterisation program hasbeen put in place for Tabakoroni open pit operation.Underground waste will be co-disposed undergroundwith paste fill where possible, with the remainderbeing stored on the current open pit waste dumpunder the current waste rock management protocolsto prevent potentially acid forming waste rock fromcontaminating water sources. The current wastedump has much more space than is required by theunderground operation.Ore Reserves from Tabakoroni will be processed atSyama and tailings storage will be in pit tailings areaapproved in the current ESIA. Routine progress onthe monitoring is reported to government and atstakeholder meetings in concert with routineinspections by government representatives.Arsenic is naturally occurring in the Tabakoronimineralisation. A groundwater characterisationprogramme was conducted as part of the ESIAsubmission and did not identify any adverse impactson water being discharged to the environment.

Infrastructure	• The existence of appropriate infrastructure:availability of land for plant development, power,water, transportation (particularly for bulkcommodities), labour, accommodation; or the easewith which the infrastructure can be provided, oraccessed.	All required mining infrastructure is already in placeat the Tabakoroni open pit mine and processing andcamp facilities at Syama Mine, except for theadditions required specifically for the Tabakoroniunderground, consisting of:•a power shed to house diesel generators forpower generation. Existing diesel generatorswill be relocated from the current Syamaoperation as part of their power upgrades.•paste plant for paste fill generation•explosives magazine•upgraded security control facilities•minor fit-out to the existing open pit officesand workshops to comply with undergroundrequirements, such as change rooms andlamp rooms•float circuit modifications to allow the existingSyama Oxide plant to process Tabakoronisulphide oreTabakoroni is linked to the Syama Mine through apurpose built 35 km haul road. The Syama Mine islocated near the two major towns of Kadiola andSikasso. Kadiola, 55km southeast, is the regionalcapital while Sikasso, approximately 85 km to thenortheast, is the second largest city in Mali andlocated close to the border with Burkina Faso.Access is via formed gravel road off the sealedSikasso to Côte d'Ivoire highway through Kadiola,and then from Fourou to site. Most consumablesand supplies use this route as it can be approachedeither from Côte d'Ivoire through the border post atZegoua or alternatively from Burkina Faso and Togothrough Sikasso. The road north through Bananso toFarakala, on the main highway from Bamako toSikasso, provides an alternate and shorter route toBamako. This road is generally impassable duringthe wet season when the low level "bridge" atBananso is covered with water.The 70km section of road from Kadiola to the sitewas upgraded for the Syama Mine. In addition to thecurrent open pit infrastructure left behind by open pitoperations at Tabakoroni, the Syama Mine providesaccess to administration buildings, plant sitebuildings and accommodation for housing expatriateand senior national staff.Tabakoroni site is serviced through a localtelecommunications provider Orange. Provision ismade in the study to allow have a dedicated link toSyama Mine, from where two Internet and mobiletelecommunications providers (Sotelma & Orange)are available, in addition to a point to point satelliteconnection to Perth.
Costs	• The derivation of, or assumptions made, regardingprojected capital costs in the study.• The methodology used to estimate operating costs.• Allowances made for the content of deleteriouselements.• The derivation of assumptions made of metal orcommodity price(s), for the principal minerals and coproducts.• The source of exchange rates used in the study.• Derivation of transportation charges.• The basis for forecasting or source of treatment andrefining charges, penalties for failure to meetspecification, etc.• The allowances made for royalties payable, bothGovernment and private.	Cost estimates are based mostly on existingoperations at Syama and Tabakoroni, withmodifications where identified in the study. Currentoperations, and existing costs were used for:•ore haulage to Syama for processing underthe current open pit haulage contract•owner-operated processing, general andadministration costs are shared betweenthe oxide plant and the sulphide plant atSyama, which processes the currentSyama UG orebody. These costs are wellunderstood, and minor changes wereincluded based on Tabakoroni specificmetallurgical variability test work results

		•power generation cost utilising the currentSyama diesel generators•development and production rates arebased on the current Syama miningcontract schedule of rates, with updatedquotes provided by the contractor asrequired for mining method changesexpected at Tabakaroni•groundsupportconsumables,fuel,explosives, bulk cement based on currentSyama mining contract•mine closure costs (existing open pitcomponent)•PFS level cost estimates were calculatedfor:•paste fill cost – based on locally suppliedbulk cement prices and an independentpaste fill study to determine consumptionrate•environmental and mine closure costsspecific to undergroundThe oxide plant produces gold doré (withoutproblematic deleterious elements) that issubsequently refined offsite. Refining costs areallowed for as per current Syama Mine, but are notmaterial.Ad valorem Government royalties of 6% are payableon gold production.
Revenue factors	• The derivation of, or assumptions made regardingrevenue factors including head grade, metal orcommodity price(s) exchange rates, transportationand treatment charges, penalties, net smelter returns,etc.• The derivation of assumptions made of metal orcommodity price(s), for the principal metals, mineralsand co-products.	A gold price of US$1,650/oz formed the basis of theOre Reserves. Gold price used for planningpurposes is from consensus forecasts provided byexternal corporate advisers.No penalties are incurred, nor is any revenuereceived from co-products.
Marketassessment	• The demand, supply and stock situation for theparticular commodity, consumption trends and factorslikely to affect supply and demand into the future.• A customer and competitor analysis along with theidentification of likely market windows for the product.• Price and volume forecasts and the basis for theseforecasts.• For industrial minerals the customer specification,testing and acceptance requirements prior to asupply contract.	The market for gold is robust with prevailing goldprice being well above US$1,650/oz.Supply and demand are not considered material tothe Ore Reserve calculations.
Economic	• The inputs to the economic analysis to produce thenet present value (NPV) in the study, the source andconfidence of these economic inputs includingestimated inflation, discount rate, etc.• NPV ranges and sensitivity to variations in thesignificant assumptions and inputs.	The financial evaluation undertaken as part of theevaluation indicated a positive net present value(NPV) at a 7% annual discount rate. The followingmajor economic inputs were used:•Costs as previous described•Gold price of US$1650/oz•Royalties of 6%•Effective tax rate of 25% (Corporate taxrate of 30% with 5% discount provided bythe Malian government to Tabakoroni)•Discount rate of 7% per annum for real,post-tax cash flows.

Social	• The status of agreements with key stakeholders andmatters leading to social license to operate.	Tabakoroni falls under the SOMIFI exploitationpermit and is managed by SOMISY underManagement and Toll Treatment agreements lodgedwith the Government of Mali.It is the intention to encourage economicdevelopment within the local community. During theoperation of Tabakoroni open pit focus has been onimproving farming and health care plus providingaccess to water; this will continue to remain a focus.The Syama Mine Community ConsultativeCommittee, which includes representation fromTabakoroni and the villages adjacent to the SyamaSatellites, was established in February 2001 withrepresentatives from local villages, the MalianGovernment and SOMISY. Since April 2004 theCommittee has met regularly as a communicationforum and to address community issues and assistwith community project proposals; it continues tomeet on the first or second Tuesday of each month.Initial consultation as part of the undergroundupdates to the ESIA indicated no major concernswith the underground operation.
Other	• To the extent relevant, the impact of the following onthe project and/or on the estimation and classificationof the Ore Reserves:• Any identified material naturally occurring risks.• The status of material legal agreements andmarketing arrangements.• The status of governmental agreements andapprovals critical to the viability of the project, suchas mineral tenement status, and government andstatutory approvals. There must be reasonablegrounds to expect that all necessary Governmentapprovals will be received within the timeframesanticipated in the Pre-Feasibility or Feasibility study.Highlight and discuss the materiality of anyunresolved matter that is dependent on a third partyon which extraction of the reserve is contingent.	All current government agreements and approvalsare in good standing and no anticipated changes areexpected. Political instability is a potential risk inMali, but the owner has many years operatingexperience in this environment through the currentSyama and Tabakoroni operations. The currentMalian government is supportive of miningoperations and the current Syama and Tabakoronioperations are in good standing with the authorities.There are no current unresolved matters affectingthis project.
Classification	• The basis for the classification of the Ore Reservesinto varying confidence categories.• Whether the result appropriately reflects theCompetent Person's view of the deposit.• The proportion of Probable Ore Reserves that havebeen derived from Measured Mineral Resources (ifany).	Proved and Probable Ore Reserves were declaredbased on the Measured and Indicated MineralResources.The Ore Reserve estimate appropriately reflects theCompetent Person's view of the deposit.None of the Measured Mineral Resource wasconverted to Proven Ore Reserves. The MeasuredResource component is located below the previousopen pit and forms part of the crown pillar to beextracted at the end of the underground mine life.Due to the inherent risk of extracting the crown pillarat a much later stage in the mine's life, it isappropriate in the Competent Person's opinion toclassify this material as Probable Ore Reserves andnot Proved Ore Reserves.
Audits or reviews	• The results of any audits or reviews of Ore Reserveestimates.	Major parts of the study were completed by external,independent contributors and were internallyreviewed by each contributor prior to submission toResolute. These inputs were then further reviewedby Resolute Corporate and Site operational teamsprior to inclusion in the PFS. The combined PFS andOre Reserves output was then internally reviewed,but no external review of the combine PFS and OreReserves has been conducted yet.

Discussion ofrelativeaccuracy/confidence	• Where appropriate a statement of the relativeaccuracy and confidence level in the Ore Reserveestimate using an approach or procedure deemedappropriate by the Competent Person. For example,the application of statistical or geostatisticalprocedures to quantify the relative accuracy of thereserve within stated confidence limits, or, if such anapproach is not deemed appropriate, a qualitativediscussion of the factors which could affect therelative accuracy and confidence of the estimate.• The statement should specify whether it relates toglobal or local estimates, and, if local, state therelevant tonnages, which should be relevant totechnical and economic evaluation. Documentationshould include assumptions made and theprocedures used.• Accuracy and confidence discussions should extendto specific discussions of any applied ModifyingFactors that may have a material impact on OreReserve viability, or for which there are remainingareas of uncertainty at the current study stage.• It is recognized that this may not be possible orappropriate in all circumstances. These statements ofrelative accuracy and confidence of the estimateshould be compared with production data, whereavailable.	The relative accuracy and confidence of the OreReserve estimate is inherent in the Ore ReserveClassification.The mine design and schedule were prepared to aPFS level of accuracy. Conservative miningmodifying factors were used to account for potentialvariations in ground and geotechnical conditions.The open pit operations had a slight positivereconciliation, but this was not considered material tothe underground project as the open pit operationsonly focused on oxide material, and the undergroundwill be focusing on fresh, sulphide ore.Reconciliation procedures will be implemented aspart of the underground operation and will beconsidered in future Ore Reserve updates.Costs are at PFS level of confidence or better due toexisting capital infrastructure and open pit operationsat Tabakoroni, and existing underground operationsand processing at Syama, which will be re-used forthe Tabakoroni underground project.Metallurgical results are in line with Syamaparameters for similar ore, and are consistentbetween various test programmes, providingconfidence in the assumptions used for the study.
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Tabakoroni Satellite Deposits – Porphyry Zone (Splay)

Section 1 Sampling Techniques and Data

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Samplingtechniques	• Nature and quality of sampling (e.g. cut channels, randomchips, or specific specialised industry standardmeasurement tools appropriate to the minerals underinvestigation, such as down hole gamma sondes, orhandheld XRF instruments, etc.). These examples shouldnot be taken as limiting the broad meaning of sampling.• Include reference to measures taken to ensure samplerepresentivity and the appropriate calibration of anymeasurement tools or systems used.• Aspects of the determination of mineralisation that areMaterial to the Public Report.• In cases where 'industry standard' work has been done thiswould be relatively simple (e.g. 'reverse circulation drillingwas used to obtain 1 m samples from which 3 kg waspulverised to produce a 30 g charge for fire assay'). In othercases more explanation may be required, such as wherethere is coarse gold that has inherent sampling problems.Unusual commodities or mineralisation types (e.g.submarine nodules) may warrant disclosure of detailedinformation.	The samples were collected from reverse circulation(RC) and diamond core drill holes.RC samples were collected on 1m intervals by riffle split(dry) or by scoop (wet), to obtain a 1-3kg sample whichwas sent to the laboratory for crushing, splitting andpulverising to provide a 30g charge for analysis.Diamond core was sampled at 1m intervals and cut inhalf, to provide a 2-4kg sample, which was sent to thelaboratory for crushing, splitting and pulverising toprovide a 30g charge for analysis.Sampling and sample preparation protocols are industrystandard and are deemed appropriate by the CompetentPerson.
Drillingtechniques	• 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 diamondtails, face-sampling bit or other type, whether core isoriented and if so, by what method, etc.).	Drill types used include diamond core of PQ and HQsizes and RC.Core is oriented at 3m down hole intervals using aReflex Act II RD Orientation Tool
Drill samplerecovery	• Method of recording and assessing core and chip samplerecoveries and results assessed.• Measures taken to maximise sample recovery and ensurerepresentative nature of the samples.• Whether a relationship exists between sample recovery andgrade and whether sample bias may have occurred due topreferential loss/gain of fine/coarse material.	Drill core interval recoveries are measured from coreblock to core block using a tape measure.Appropriate measures are taken to maximise samplerecovery and ensure the representative nature of thesamples.No apparent relationship is noted between samplerecovery and grade.
Logging	• Whether core and chip samples have been geologically andgeotechnically logged to a level of detail to supportappropriate Mineral Resource estimation, mining studiesand metallurgical studies.• Whether logging is qualitative or quantitative in nature. Core(or costean, channel, etc.) photography.• The total length and percentage of the relevant intersectionslogged.	Drill holes were geologically logged by geologists forcolour, grainsize, lithology, minerals, alteration andweathering on geologically-domained intervals.Geotechnical and structure orientation data wasmeasured and logged for all diamond core intervals.Diamond core was photographed (wet and dry).Holes were logged in their entirety (100%) and thislogging was considered reliable and appropriate.
Sub-samplingtechniquesand samplepreparation	• If core, whether cut or sawn and whether quarter, half or allcore taken.• If non-core, whether riffled, tube sampled, rotary split, etc.and whether sampled wet or dry.• For all sample types, the nature, quality andappropriateness of the sample preparation technique.• Quality control procedures adopted for all sub-samplingstages to maximise representivity of samples.• Measures taken to ensure that the sampling isrepresentative of the in-situ material collected, including forinstance results for field duplicate/second-half sampling.• Whether sample sizes are appropriate to the grain size ofthe material being sampled.	Diamond core was sampled at 1m intervals and cut inhalf to obtain a 2-4kg sample.Reverse circulation samples were collected on 1mintervals by riffle split (dry) or by scoop (wet) to obtain a1-3kg sample.Sample preparation for diamond core and RC samplesincludes oven drying, crushing to 10mm, splitting andpulverising to 85% passing -75µm. These preparationtechniques are deemed to be appropriate to the materialbeing sampled.Drill core coarse duplicates were split by the laboratoryafter crushing at a rate of 1:20 samples. Reverse

		circulation field duplicates were collected by the
		company at a rate of 1:20 samples.
		Sampling, sample preparation and quality controlprotocols are of industry standard and all attempts weremade to ensure an unbiased representative sample wascollected. The methods applied in this process weredeemed appropriate by the Competent Person.
Quality of assaydata andlaboratory tests	• The nature, quality and appropriateness of the assaying andlaboratory procedures used and whether the technique isconsidered partial or total.• For geophysical tools, spectrometers, handheld XRFinstruments, etc., the parameters used in determining theanalysis including instrument make and model, readingtimes, calibrations factors applied and their derivation, etc.• 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.	All samples were dispatched to ALS Bamako for goldanalysis by 30g fire assay fusion with AAS instrumentfinish (method code Au-AA25). Over-range results werere-analysed and reported by 30g fire assay fusion withgravimetric finish (method code Au-GRA21). Theanalytical method was appropriate for the style ofmineralisation.No geophysical tools were used to determine elementalconcentrations.Quality control (QC) procedures included the use ofcertified standards (1:40), non-certified sand blanks(1:40), diamond core coarse duplicates (1:20) andreverse circulation field duplicates (1:20).Laboratory quality control data, including laboratorystandards, blanks, duplicates, repeats, grind size resultsand sample weights were also captured into the digital
		database.Analysis of the QC sample assay results indicates thatan acceptable level of accuracy and precision has beenachieved.
Verification ofsamplingand assaying	• The verification of significant intersections by eitherindependent or alternative company personnel.• The use of twinned holes.	Verification of significant intersections have beencompleted by company personnel and the CompetentPerson.
	• Documentation of primary data, data entry procedures, dataverification, data storage (physical and electronic) protocols.• Discuss any adjustment to assay data.	No drill holes within the resource area were twinned.Drill holes were logged into digital templates with lookupcodes, validated and then compiled into a relational SQL2012 database using DataShed data managementsoftware. The database has verification protocols whichare used to validate the data entry. The drill holedatabase is backed up on a daily basis to the headoffice server.Assay result files were reported by the laboratory in PDF
		and CSV format and imported into the SQL databasewithout adjustment or modification.
Location ofdata points	• Accuracy and quality of surveys used to locate drill holes(collar and down-hole surveys), trenches, mine workingsand other locations used in Mineral Resource estimation.• Specification of the grid system used.	Collar coordinates were picked up in UTM (WGS84) bystaff surveyors using an RTK DGPS with an expectedaccuracy of 0.05m; elevations were height aboveEGM96 geoid.
	• Quality and adequacy of topographic control.	Down hole surveys were collected at intervals between5m and 30m using either a Reflex EZ-Gyro northseeking instrument or a Reflex EZ-Trac magneticinstrument in single shot or multi shot mode. A timedependent declination was applied to the magneticreadings to determine UTM azimuth.
		Coordinates and azimuths are reported in UTM WGS84Zone 29 North.
		Coordinates were translated to local mine grid using 1point and rotation.
		Local topographic control is via LIDAR surveys, satellitephotography and drone UAV aerial survey.

Data spacing anddistribution	• Data spacing for reporting of Exploration Results.• Whether the data spacing and distribution is sufficient toestablish the degree of geological and grade continuityappropriate for the Mineral Resource and Ore Reserveestimation procedure(s) and classifications applied.• Whether sample compositing has been applied.	Drill hole spacing was sufficient to demonstrategeological and grade continuity appropriate for a MineralResource and the classifications applied under the 2012JORC Code.The appropriateness of the drill spacing was reviewedby the geological technical team, both on site and headoffice. This was also reviewed by the CompetentPerson.Samples were collected on 1m intervals; no samplecompositing is applied during sampling
Orientation of datain relation togeologicalstructure	• Whether the orientation of sampling achieves unbiasedsampling of possible structures and the extent to which thisis known, considering the deposit type.• If the relationship between the drilling orientation and theorientation of key mineralised structures is considered tohave introduced a sampling bias, this should be assessedand reported if material.	Holes were drilled predominantly perpendicular tomineralised domains where possible.No orientation-based sampling bias has been identifiedinthe data.
Sample security	• The measures taken to ensure sample security.	Samples were collected from the drill site and stored onsite. All samples were individually bagged and labelledwith unique sample identifiers, then securely dispatchedto the laboratories. All aspects of sampling and dispatchprocess were supervised and tracked by SOMIFIpersonnel.
Audits or reviews	• The results of any audits or reviews of sampling techniquesand data.	External audits of procedures indicate protocols arewithin industry standards.

At 31 December 2023

Section 2 Reporting of Exploration Results

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Mineral tenementand land tenurestatus	• Type, reference name/number, location andownership including agreements or material issueswith third parties such as joint ventures, partnerships,overriding royalties, native title interests, historicalsites, wilderness or national park and environmentalsettings.• The security of the tenure held at the time of reportingalong with any known impediments to obtaining alicence to operate in the area.	Porphyry Zone drilling was completed within the FinkoloTabakoroni Exploitation Licence PE 13/19. ResoluteMining Limited has an 85% interest in ExploitationPermit PE 13/19, through its Malian subsidiary, Sociêtêdes Mines de Finkolo SA (SOMIFI). The MalianGovernment holds a free carried 10% interest in SOMIFIand a free carried 5% interest is held privately.The Permits are held in good standing. Malian mininglaw provides that all Mineral Resources areadministered by DNGM (Direction Nationale de laGéologie et des Mines) or National Directorate ofGeology and Mines under the Ministry of Mines, Energyand Hydrology.
Exploration doneby other parties	• Acknowledgment and appraisal of exploration byother parties.	Etruscan Resources Inc explored Tabakoroni during2002-2003 by auger, aircore, RC and diamond drill holetails. The Tabakoroni area was previously explored byBHP (1988-1990) and Barrick Gold (1990) by auger,pits, trenches, RAB and diamond core drilling
Geology	• Deposit type, geological setting and style ofmineralisation.	The Tabakoroni Porphyry Zone is located on a NNEtrending splay of the NNW oriented Main TabakoroniShear Zone.Host rocks are comprised of interbedded greywacke andshale with small intrusions of quartz feldspar phyricdacite porphyry. Ductile shearing affects all units and isparticularly focussed within the shale units.Mineralisation occurs as quartz-pyrite veins andsulphidic shears within shale units. Visible gold iscommonly seen in vein quartz.The gold mineralisation at the 'Porphyry Zone" issomewhat erratic with more coherent zones strikingNNE and dipping shallowly and steeply west.
Drill holeInformation	• A summary of all information material to theunderstanding of the exploration results including atabulation of the following information for all Materialdrill holes:oeasting and northing of the drill hole collaroelevation or RL (Reduced Level – elevationabove sea level in metres) of the drill hole collarodip and azimuth of the holeodown hole length and interception depthoWhole length.• If the exclusion of this information is justified on thebasis that the information is not Material and thisexclusion does not detract from the understanding ofthe report, the Competent Person should clearlyexplain why this is the case.	No exploration results have been reported in thisrelease.All information, including easting, northing, elevation,dip, azimuth, coordinate system, drill hole length,intercept length and depth are measured and recordedin UTM Zone 29 WGS84.The Syama belt is mostly located on the Tengrela1/200,000 topo sheet (Sheet NC 29-XVIII).The Tabakoroni local grid has been tied to the UTMZone 29 WGS84 co-ordinate system.Spectrum Survey & Mapping from Australia establishedsurvey control at Tabakoroni using AusPos onlineprocessing to obtain an accurate UTM Zone 29(WGS84) and 'above geoid' RL for the origin of thesurvey control points.Accuracy of the survey measurements is considered tomeet acceptable industry standards.Drill hole information has been tabulated for this releasein the intercepts table of the accompanying text.For completeness the following information about thedrill holes is provided:•Easting, Northing and RL of the drill holecollars are measured and recorded in UTMZone 29 (WGS84)•Dip is the inclination of the drill hole fromhorizontal. A drill hole drilled at -60° is 60°from the horizontal

		•Down hole length is the distance down theinclination of the hole and is measured as thedistance from the horizontal to end of hole•Intercept depth is the distance from the start of thehole down the inclination of the hole to the depth ofinterest or assayed interval of interest.
Data aggregationmethods	• In reporting Exploration Results, weighting averagingtechniques, maximum and/or minimum gradetruncations (e.g. cutting of high grades) and cut-offgrades are usually Material and should be stated.• Where aggregate intercepts incorporate short lengthsof high-grade results and longer lengths of low-graderesults, the procedure used for such aggregationshould be stated and some typical examples of suchaggregations should be shown in detail.• The assumptions used for any reporting of metalequivalent values should be clearly stated.	No new exploration results have been reported in thisrelease.Exploration results are tabulated using the followingparameters:•Grid coordinates are WGS84 Zone 29 North•Cut-off grade for reporting of intercepts is>=1g/t Au•No top cut of individual assays prior to lengthweighted compositing of the reportedintercept has been applied•Maximum 3m consecutive internal dilutionincluded within the interceptMetal equivalent values are not used in reporting
Relationshipbetweenmineralisationwidths andintercept lengths	• These relationships are particularly important in thereporting of Exploration Results.• If the geometry of the mineralisation with respect tothe drill hole angle is known, its nature should bereported.• If it is not known and only the down hole lengthsare reported, there should be a clear statement to thiseffect (e.g. 'down hole length, true width not known').	The majority of the drill holes are planned at a generalinclination of -60 degrees east and as close toperpendicular to the ore zone as possible.At the angle of the drill holes and the dip of the orezones, the reported intercepts will be slightly more thantrue width.
Diagrams	• Appropriate maps and sections (with scales) andtabulations of intercepts should be included for anysignificant discovery being reported These shouldinclude, but not be limited toa plan view of drill hole collar locations andappropriate sectional views.	No exploration results have been reported in thisrelease.
Balanced reporting	• Where comprehensive reporting of all ExplorationResults is not practicable, representative reporting ofboth low and high grades and/or widths should bepracticed to avoid misleading reporting of ExplorationResults.	Significant intercepts of new drill holes have not beenreported in this release.
Other substantiveexploration data	• Other exploration data, if meaningful and material,shouldbe reported including (but not limited to): geologicalobservations; geophysical survey results;geochemical survey results; bulk samples – size andmethod of treatment; metallurgical test results; bulkdensity, groundwater, geotechnical and rockcharacteristics; potential deleteriousor contaminating substances.	No geophysical and geochemical data or any additionalexploration information has been reported in thisrelease, as they are not deemed relevant to the release.
Further work	• The nature and scale of planned further work (e.g.testsfor lateral extensions or depth extensions or largescale step-out drilling).• Diagrams clearly highlighting the areas of possibleextensions, including the main geologicalinterpretations and future drilling areas, provided thisinformation is not commercially sensitive.	Further drilling is planned.

Section 3 Estimation and Reporting of Mineral Resources

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Databaseintegrity	• Measures taken to ensure that data has not been corruptedby, for example, transcription or keying errors, between itsinitial collection and its use for Mineral Resource estimationpurposes.• Data validation procedures used.	Data have been compiled into a relational SQL database;the setup of this database precludes the loading of datawhich do not meet the required validation protocols. Thedata is managed using DataShed© drill hole managementsoftware using SQL database techniques. Validationchecks are conducted using SQL and DataShed© relationaldatabase standards. Data has also been checked againstoriginal hard copies for 100% of the data, and wherepossible, loaded from original data sources.Resolute completed the following basic validation checkson the data supplied prior to resource estimation:•Drill holes with overlapping sample intervals•Sample intervals with no assay data or duplicaterecords
		•Assay grade ranges
		•Collar coordinate ranges
		•Valid hole orientation data.
		There are no significant issues identified with the data.
Site visits	• Comment on any site visits undertaken by the CompetentPerson and the outcome of those visits.• If no site visits have been undertaken indicate why this isthe case.	Mr Bruce Mowat, a full-time employee of Resolute MiningLtd and a Member of the Australasian Institute of Miningand Metallurgy is the Competent Person who has visitedthis site multiple.All aspects of drilling, sampling and mining are consideredby the Competent Persons to be of a high industrystandard.
Geologicalinterpretation	• Confidence in (or conversely, the uncertainty of) the geologicalinterpretation of the mineral deposit.• Nature of the data used and of any assumptions made.• The effect, if any, of alternative interpretations on MineralResource estimation.• The use of geology in guiding and controlling MineralResource estimation.• The factors affecting continuity both of grade and geology.	The digital database used for the interpretation includedlogged intervals for the key stratigraphic zones of thePorphyry Zone. Detailed geological logs were available inhardcopy and digital and reviewed where necessary.A wireframe was used to constrain the estimation is basedon drill hole intercepts and geological boundaries. Thewireframe has been constructed to a 0.5 g/t Au cut-offgrade for shape consistency. Only one wireframe wasconstructed in the closely spaced drilled area and theremaining mineralisation was in the wider spaced drillingarea and an alternate estimation method was used.The confidence in the geological interpretation is amoderate level and is based on good quality drilling andongoing drill hole logging. The main zone has been gcdrilled and therefore is considered robust, the area outsidethe gc drilling has a lower confidence give the sparsedrilling. There could be alternative interpretations in thisarea which is reflected in the classification.The logging in the geological database of lithology andweathering were considered during the mineralisationdomain interpretations, and where available.
Dimensions	• The extent and variability of the Mineral Resource expressedas length (along strike or otherwise), plan width, and depthbelow surface to the upper and lower limits of the MineralResource.	The Porphyry Zone Mineral Resource area extends over astrike length of 700 metres (from 1,164,600 mN to1,165,300 mN) and includes the 175 metre vertical intervalfrom 345 mRL to 170 mRL. The overall plan width of themineralised lodes varies between a few metres to 20metres in thickness and is 600 metres wide (from 810,265mE to 810,865 mE).

Estimation andmodellingtechniques	• The nature and appropriateness of the estimation technique(s)applied and key assumptions, including treatment of extremegrade values, domaining, interpolation parameters and maximumdistance of extrapolation from data points. If a computer assistedestimation method was chosen include a description of computersoftware and parameters used.• The availability of check estimates, previous estimates and/ormine production records and whether the Mineral Resourceestimate takes appropriate account of such data.• The assumptions made regarding recovery of by- products.• Estimation of deleterious elements or other non-gradevariables of economic significance (e.g. sulphur for acid minedrainage characterization).• In the case of block model interpolation, the block size inrelation to the average sample spacing and the searchemployed.• In the case of block model interpolation, the block size inrelation to the average sample spacing and the searchemployed.• Any assumptions behind modelling of selective mining units.• Any assumptions about correlation between variables.• Description of how the geological interpretation was used tocontrol the resource estimates.• Discussion of basis for using or not using grade cutting orcapping.• The process of validation, the checking process used, thecomparison of model data to drill hole data, and use ofreconciliation data if available.	Estimation was completed in Datamine Studio RM usingtwo estimation methods. Gold was estimation into a threedimensional block model by dynamic anisotropy usingordinary kriging (OK) into the main domain (Domain 10). Ahard boundary was used between mineralisation domains.A soft boundary was used between the oxide andtransitional and a hard boundary between transitional andfresh within the main domain. To capture the complex lowangled surrounding mineralisation an unconstrainedinverse distance cubed (ID3) estimation technique wasused.The drill spacing at The Porphyry Zone is a nominal 25 by25 metres for the exploration holes for the majority of thedeposits and 50 by 50 metres around the periphery. Themain part of the deposit has been gc drilled out to 12.5 by10 metres. Parent blocks of 4 mE by 10 mN by 5 mRl wereused for the block model to tie in with the existing gradecontrol model. Sub blocking down to 1 mE by 2.5 mN by1.25 mRl was employed for resolution of the mineralisationboundaries as define by wireframesDrillhole sample data was flagged using domain codesgenerated from three-dimensional mineralisation domains.The samples were composited to 1 metre intervals.Variogram orientations were largely controlled by the strikeof the mineralisation and downhole variography. Thesearch ellipse for the background mineralisation isorientated striking towards the north and dipping 30oto thewest.Kriging neighbourhood analysis was performed to optimisethe block size, sample numbers and discretisation levelswith the goal of minimising conditional bias in the goldgrade estimates.Three search passes were used, with the first search passset to the range of the variogram for each domain. Aminimum of 8 and a maximum of 30 samples were used.The search stayed the same for the second pass but wasincreased by a factor of 2 for the third and final pass. Theminimum number of samples was reduced to 6 for thesecond pass and 4 for the third pass.No deleterious elements were found in the ore.No selective mining units have been assumed.Top cuts were applied to reduce the variability of the dataand to remove the outliers.The estimated block model grades were visually validatedagainst the input drillhole data and comparisons werecarried out against the drillhole data and by northing andelevation slices. Global comparison between the input dataand the block grades for each variable is consideredacceptable (±10%).
Moisture	• Whether the tonnages are estimated on a dry basis orwith natural moisture, and the method of determinationof the moisture content.	All tonnages have been estimated on a dry basis.
Cut-offparameters	• The basis of the adopted cut-off grade(s) or qualityparameters applied.	The cut-off grade of 1 g/t for the stated open pit MineralResource estimate is determined from economicparameters that reflect geotechnical, mining andprocessing parameters and costs for an open pit miningoperation.
Mining factorsor assumptions	• Assumptions made regarding possible mining methods,minimum mining dimensions and internal (or, if applicable,external) mining dilution. It is always necessary as part ofthe process of determining reasonable prospects foreventual economic extraction to consider potential miningmethods, but the assumptions made regarding miningmethods and parameters when estimating MineralResources may not always be rigorous. Where this is thecase, this should be reported with an explanation of thebasis of the mining assumptions made.	The Resource models assume that a moderate level ofmining selectivity is achieved in open pit mining. It hasbeen assumed that high quality grade control will beapplied to ore/waste delineation processes using RCdrilling, or similar, at a nominal (and no greater) spacing of10 metre by 12.5 metre and applying a pattern sufficient toensure adequate coverage of the mineralisation zones.This is consistent with current mining practises at Syama.

Metallurgicalfactors orassumptions	• The basis for assumptions or predictions regardingmetallurgical amenability. It is always necessary as part ofthe process of determining reasonable prospects foreventual economic extraction to consider potentialmetallurgical methods, but the assumptions regardingmetallurgical treatment processes and parameters madewhen reporting Mineral Resources may not always berigorous. Where this is the case, this should be reported withan explanation of the basis of the metallurgical assumptionsmade.	No metallurgical factors or assumptions have been madeduring the resource estimation process as these will beaddressed during the conversion to Ore Reserves.
Environmentalfactorsor assumptions	• Assumptions made regarding possible waste andprocess residue disposal options. It is alwaysnecessary as part of the process of determiningreasonable prospects for eventual economic extractionto consider the potential environmental impacts of themining and processing operation. While at this stagethe determination of potential environmental impacts,particularly for a green fields project, may not always bewell advanced, the status of early consideration ofthese potential environmental impacts should bereported. Where these aspects have not beenconsidered this should be reported with an explanationof the environmental assumptions made.	It is a requirement of Decree No.03-594/P-RM of 31December 2003 of Malian law that an Environmental andSocial Impact Study (Étude d'Impact Environmental etSocial – EIES) must be undertaken to update the potentialenvironmental and social impacts of the mine'sredevelopment. The EIES for the Syama Gold Mine(including Tabakoroni) was approved in November 2007and an Environment Permit (07- 0054/MEA – SG) wasissued by the Ministry of Environment and Sanitation on 22November 2007. The Ministry of Environment conductstimely reviews of the Syama Gold Mine to ensure thatcompany maintains compliance with the EIES guidelines.At Syama and Tabakoroni, there are three key practices fordisposal of wastes and residues namely, stacking of wasterock from open pit mining; storage of tailings from mineralprocesses; and "tall-stack dispersion" of sulphur dioxidefrom the roasting of gold bearing concentrate. All wastedisposal practices are in accordance with the guidelines inthe EIES.The Environmental & Social Impact Study – "Société desMines de Syama, Syama Gold Mine, Mali", dated 2007indicated there was minimal potential for acid minedrainage from waste rock due to the elevated carbonatecontent which buffers a potential acid generation. Resolutemaintains a plan for progressive rehabilitation of waste rocklandforms as part of ongoing mine development and wasterock dumping.The landform of tailings impoundments does not have a netacid generating potential. The largest volume is flotationtailings where the sulphide minerals have already beenremoved from the host rock. Its mineralogy includescarbonates which further buffer any acid-formation potentialfrom sulphides that may also be present.Cyanide levels in the leached-calcine tailings are typicallyless than 50 ppm in the weak acid dissociable form.Groundwater away from the tailings landform is interceptedby trenches and sump pumps.Sulphur dioxide is generated from the roasting of goldconcentrate so that gold can be extracted and refined. TallStack "dispersion" of the sulphur dioxide emission ismonitored continuously. Prevailing weather and dissipationof the sulphur dioxide is modelled daily to predict the needto pause the roasting process to meet the air quality criteriaset out in the Environmental & Social Impact Study.
Bulk density	• Whether assumed or determined. If assumed, the basisfor the assumptions. If determined, the method used,whether wet or dry, the frequency of themeasurements, the nature, size and representativenessof the samples.• The bulk density for bulk material must have beenmeasured by methods that adequately account for voidspaces (vugs, porosity, etc), moisture and differencesbetween rock and alteration zones within the deposit.	No bulk density measurements have been taken at thePorphyry Zone.An average SG was applied to the model by weatheringtypes based on similar deposits at Syama:2.12 t/m3•Oxide2.38 t/m3•Transitional2.72 t/m3•Fresh

	• Discuss assumptions for bulk density estimates used inthe evaluation process of the different materials.
Classification	• The basis for the classification of the MineralResources into varying confidence categories.• Whether appropriate account has been taken of allrelevant factors (i.e. relative confidence intonnage/grade estimations, reliability of input data,confidence in continuity of geology and metal values,quality, quantity and distribution of the data).• Whether the result appropriately reflects the CompetentPerson's view of the deposit.	In general, the Inferred Mineral Resource classification isapplied to extensions of mineralised zones on the marginsof the deposit where drill spacing is more than 50 m x 50 mand the extents of mineralisation at depth. However, due tothe complexity of the surrounding mineralisation and thelow confidence in the geological interpretation in addition tothe estimation method being unconstrained. Thecompetent person decided to classify the whole of thedeposit to Inferred until more drilling can be carried out.The validation of the block model has confirmedsatisfactory correlation of the input data to the estimatedgrades and reproduction of data trends.The Mineral Resource estimates appropriately reflects theview of the Competent Person.
Audits orreviews	• The results of any audits or reviews of MineralResource estimates.	There has been no external review of the MineralResource estimate.
Discussion ofrelativeaccuracy/confidence	• Where appropriate a statement of the relative accuracyand confidence level in the Mineral Resource estimateusing an approach or procedure deemed appropriateby the Competent Person. For example, the applicationof statistical or geostatistical procedures to quantify therelative accuracy of the resource within statedconfidence limits, or, if such an approach is not deemedappropriate, a qualitative discussion of the factors thatcould affect the relative accuracy and confidence ofthe estimate.• The statement should specify whether it relates to global orlocal estimates, and, if local, state the relevant tonnages,which should be relevant to technical and economicevaluation. Documentation should include assumptionsmade and the procedures used.• These statements of relative accuracy and confidenceof the estimate should be compared with productiondata, where available.	The Mineral Resource estimate has been classified basedon the quality of the data collected, the density of data, theconfidence of the geological models and mineralisationmodels, and the grade estimation quality. This has beenapplied to a relative confidence based on data density andzone confidence for resource classification. No relativestatistical or geostatistical confidence or risk measure hasbeen generated or applied.Mine production data was used in the validation processand showed to be within 20% of the estimated tonnes,grade and ounces within the mined area.

Section 4 Estimation and Reporting of Ore Reserves

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Mineral Resourceestimate forconversion toOre Reserves	• Description of the Mineral Resource estimateused asa basis for the conversion to an OreReserve.• Clear statement as to whether the MineralResources are reported additional to, orinclusive of, theOre Reserve.	Resources at Porphyry Zone are reported above a 1g/t cut-off. This was calculated as a marginal cut offutilising open pit mining methods. Material belowthis cut-off is not included in the Mineral Resource.Ore Reserves are the material reported as a sub-setof the resource, that which can be extracted from themine and processed with an economicallyacceptable outcome.Mineral Resources are reported inclusive of OreReserves.
Site visits	• Comment on any site visits undertaken bythe Competent Person and the outcome ofthose visits.• If no site visits have been undertakenindicate why thisis the case.	Mr Kitwa Ndjibu is member of the AustralasianInstitute of Mining and Metallurgy and is aCompetent Person who has visited the site theproject is located.
Study status	• The type and level of study undertaken toenable Mineral Resources to be converted toOre Reserves.• The Code requires that a study to at leastPre-Feasibility Study level has beenundertaken to convert Mineral Resources toOre Reserves. Such studies will have beencarried out and will have determined a mineplan that is technically achievable andeconomically viable, and that materialModifying Factors have been considered.	The Porphyry Zone deposit is adjacent to theTabakoroni mine which had a Feasibility study wascompleted in 2009 with updates in 2012 & 2016.Tabakoroni has been in continuous mining operationsince August 2018. During this time the performancethe project has shown a positive reconciliationbetween mineral resources and gold production anddelivered positive cashflows. For 2023, the pit hasbeen depleted; there is no ore to report.
Cut-offparameters	• The basis of the cut-off grade(s) or qualityparameters applied.	No need to determine the cut-off grade
Mining factors orassumptions	• The method and assumptions used asreported in the Pre-Feasibility or FeasibilityStudy to convert the Mineral Resource to anOre Reserve (i.e. either by application ofappropriate factors by optimization or bypreliminary or detailed design).• The choice, nature and appropriatenessof the selected mining method(s) and othermining parameters including associateddesign issues such as pre-strip, access, etc.• The assumptions made regardinggeotechnical parameters (e.g. pit slopes,stope sizes, etc.), grade control and preproduction drilling.• The major assumptions made and MineralResource model used for pit and stopeoptimization (if appropriate).• The mining dilution factors used.• The mining recovery factors used.• Any minimum mining widths used.	The reported Ore Reserve estimate for PorphyryZone is based on pit optimisations conducted usingthe Lerchs-Grossman (LG) algorithm of the Whittlesoftware to calculate the optimal pit at specific inputparameters and pit designs. Costs are based onexisting contract mining and haulage rates and sitecosts which are understood with a high degree ofaccuracy.Mining is undertaken by conventional open pitmethods of drill and blast, followed by load and haul,utilising mining equipment comprising 120t – 230tdiesel hydraulic excavators and 90t off-highwaydump trucks.Detailed pit design work was completed based on pitoptimisations using Whittle Four-X optimisationsoftware. Only Indicated Resources were used inthe pit optimisation.Pit slope parameters for Porphyry Zone were basedon a geotechnical assessment that included a total ofseven specific geotechnical holes. Overall slopesangles are approximately 40°. All other pits adoptsimilar overall slope angles.

	• The manner in which Inferred MineralResources are utilized in mining studies andthe sensitivity of the outcome to theirinclusion.• The infrastructure requirements of theselected mining methods.	Grade control consists of RC drilling, based on a5.0mE x 12.5mN drill patternThe MIK resource estimation technique used for thePorphyry Zone implicitly incorporates internal miningdilution at the scale of the assessed SMU so noadditional modifying factor was applied.
Metallurgicalfactorsor assumptions	• The metallurgical process proposed and theappropriateness of that process to the styleof mineralization.• Whether the metallurgical process is welltested technology or novel in nature.• The nature, amount and representativenessof metallurgical test work undertaken, thenature of the metallurgical domaining appliedand the corresponding metallurgical recoveryfactors applied.• Any assumptions or allowances made fordeleterious elements.• The existence of any bulk sample or pilotscale test work and the degree to which suchsamples are considered representative of theore body as a whole.• For minerals that are defined by aspecification, has the ore reserve estimationbeen based on the appropriate mineralogy tomeet the specifications?	Processing is by conventional primary crushingfollowed by single stage SAG milling. Gold recoveryis by means of a gravity recovery circuit and carbonin leach process.Processing recoveries used are 90%, 80% and 65%for Oxide, Transitional and fresh materialrespectivelyMine is operational with good reconciliation betweenpredicted recoveries and actualAllowances are made in the recovery estimates fortransitional and fresh ore as the Au recovery isimpacted by some of the gold being hosted inrefractory sulphide and preg-robbing carbon
Environmental	• The status of studies of potentialenvironmental impacts of the mining andprocessing operation. Details of waste rockcharacterization and the consideration ofpotential sites, status of design optionsconsidered and, where applicable, the statusof approvals for process residue storage andwaste dumps should be reported.	An active waste rock characterisation program hasbeen put in place for Porphyry Zone.Ore Reserves from Porphyry Zone will be processedat Syama and tailings storage will be impounded inexisting footprint area approved in the Environmental& Social Impact Study. Progressive raising of thetailings occurs regularly with the 9th lift completed in2019. Routine progress on the monitoring isreported to government and at stakeholder meetingsin concert with routine inspections by governmentrepresentatives.
Infrastructure	• The existence of appropriate infrastructure:availability of land for plant development,power, water, transportation (particularly forbulk commodities), labour, accommodation;or the ease with which the infrastructure canbe provided, or accessed.	All required infrastructure is already in place for thePorphyry Zone deposit which is within the current theTabakoroni mine footprint
Costs	• The derivation of, or assumptions made,regarding projected capital costs in thestudy.• The methodology used to estimate operatingcosts.• Allowances made for the content ofdeleterious elements.• The derivation of assumptions made of metalor commodity price(s), for the principalminerals and co- products.• The source of exchange rates used in thestudy.• Derivation of transportation charges.• The basis for forecasting or source oftreatment and refining charges, penalties forfailure to meet specification, etc.• The allowances made for royalties payable,both Government and private.	The Porphyry Zone deposit is adjacent to theTabakoroni mine, with established mining operations.Ore is trucked to Syama where it is processed atSyama's oxide circuit. General and administrationcosts are shared between the oxide plant and thesulphide plant which treats the Syama UG orebody.The Porphyry Zone deposit will be minedcontemporaneously with the Tabakoroni pits usingthe same mining and haulage fleet. The mining andhaulage rates are based on known contract rates.The oxide plant produces gold doré (withoutproblematic deleterious elements) that issubsequently refined offsite. Refining costs are notmaterial.Exchange rates used for planning purposes are fromconsensus forecasts provided by external corporateadvisers.Ad valorem Government royalties of 6% are payableon gold production

Revenue factors	• The derivation of, or assumptions maderegarding revenue factors including headgrade, metal or commodity price(s)exchange rates, transportation and treatmentcharges, penalties, net smelter returns, etc.• The derivation of assumptions made of metalor commodity price(s), for the principalmetals, minerals and co-products.	A gold price of US$1,500/oz formed the basis of theOre Reserves.
Marketassessment	• The demand, supply and stock situation forthe particular commodity, consumptiontrends and factors likely to affect supply anddemand into the future.• A customer and competitor analysis alongwith the identification of likely marketwindows for the product.• Price and volume forecasts and the basis forthese forecasts.• For industrial minerals the customerspecification, testing and acceptancerequirements prior to a supply contract.	The market for gold is robust with prevailing goldprice being around US$1,850/oz.Supply and demand are not considered material tothe Ore Reserve calculations.
Economic	• The inputs to the economic analysis toproduce the net present value (NPV) in thestudy, the source and confidence of theseeconomic inputs including estimatedinflation, discount rate, etc.• NPV ranges and sensitivity to variations inthe significant assumptions and inputs.	The financial evaluation undertaken as part of theevaluation of these open pits indicated a positive netpresent value (NPV) at a 5% discount rate andoperating results to date have exceeded productionand NPV forecasts.
Social	• The status of agreements with keystakeholders and matters leading to sociallicense to operate.	The Porphyry Zone falls under the SOMIFIexploitation permit and is managed by SOMISY SAunder Management and Toll Treatment agreementslodged with the Government of Mali.It is the intention to encourage economicdevelopment within the local community. During theoperation of Tabakoroni and its satellite deposits thefocus has been on improving farming and health careplus providing access to water; this will continue toremain a focus.The Syama Mine Community ConsultativeCommittee, which includes representation fromTabakoroni and the villages adjacent to the SyamaSatellites, was established in February 2001 withrepresentatives from local villages, the MalianGovernment and SOMISY. Since April 2004 theCommittee has met regularly as a communicationforum and to address community issues and assistwith community project proposals; it continues tomeet on the first or second Tuesday of each month.
Other	• To the extent relevant, the impact of thefollowing on the project and/or on theestimation and classification of the OreReserves:• Any identified material naturally occurringrisks.• The status of material legal agreements andmarketing arrangements.• The status of governmental agreements andapprovals critical to the viability of theproject, such as mineral tenement status,and government and statutory approvals.There must be reasonable grounds to expectthat all necessary Government approvals willbe received within the timeframes anticipatedin the Pre-Feasibility or Feasibility study.	All current government agreements and approvalsare in good standing and no anticipated changes areexpected.

	Highlight and discuss the materiality of anyunresolved matter that is dependent on athird party on which extraction of the reserveis contingent.
Classification	• The basis for the classification of the OreReserves into varying confidence categories.• Whether the result appropriately reflects theCompetent Person's view of the deposit.• The proportion of Probable Ore Reservesthat have been derived from MeasuredMineral Resources (if any).	Proved and Probable Ore Reserves were declaredbased on the Measured and Indicated MineralResources.The Ore Reserve estimate appropriately reflects theCompetent Person's view of the deposit.
Audits or reviews	• The results of any audits or reviews of OreReserve estimates.
Discussion ofrelativeaccuracy/confidence	• Where appropriate a statement of therelative accuracy and confidence level in theOre Reserve estimate using an approach orprocedure deemed appropriate by theCompetent Person. For example, theapplication of statistical or geostatisticalprocedures to quantify the relative accuracyof the reserve within stated confidence limits,or, if such an approach is not deemedappropriate, a qualitative discussion of thefactors which could affect the relativeaccuracy and confidence of the estimate.• The statement should specify whether itrelates to global or local estimates, and, iflocal, state the relevant tonnages, whichshould be relevant to technical and economicevaluation. Documentation should includeassumptions made and the procedures used.• Accuracy and confidence discussions shouldextend to specific discussions of any appliedModifying Factors that may have a materialimpact on Ore Reserve viability, or for whichthere are remaining areas of uncertainty atthe current study stage.• It is recognized that this may not be possibleor appropriate in all circumstances. Thesestatements of relative accuracy andconfidence of the estimate should becompared with production data, whereavailable.	The relative accuracy and confidence of the OreReserve estimate is inherent in the Ore ReserveClassification.

Syama Satellite Deposits – Cashew, Paysans, Tellem and Syama North

Section 1 Sampling Techniques and Data

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Samplingtechniques	• Nature and quality of sampling (e.g. cut channels,random chips, or specific specialised industry standardmeasurement tools appropriate to the minerals underinvestigation, such as down hole gamma sondes, orhandheld XRF instruments, etc.). These examplesshould not be taken as limiting the broad meaning ofsampling.• Include reference to measures taken to ensure samplerepresentivity and the appropriate calibration of anymeasurement tools or systems used.• Aspects of the determination of mineralisation that areMaterial to the Public Report.• In cases where 'industry standard' work has beendone this would be relatively simple (e.g. 'reversecirculation drilling was used to obtain 1 m samplesfrom which 3 kg was pulverised to produce a 30 gcharge for fire assay'). In other cases moreexplanation may be required, such as where there iscoarse gold that has inherent sampling problems.Unusual commodities or mineralisation types (e.g.submarine nodules) may warrant disclosure of detailedinformation.	The samples were collected from reverse circulation(RC) and diamond core drill holes.RC samples were collected on 1m intervals by riffle split(dry) or by scoop (wet), to obtaina 1-3kg sample which was sent to the laboratory forcrushing, splitting and pulverising to provide a 30gcharge for analysis.Diamond core was sampled at 1m intervals and cut inhalf, to provide a 2-4kg sample,which was sent to the laboratory for crushing, splittingand pulverising to provide a 30g charge for analysis.Sampling and sample preparation protocols are industrystandard and are deemed appropriate by the CompetentPerson.
Drilling techniques	• Drill type (e.g. core, reverse circulation, open-holehammer, 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.).	Drill types used include diamond core of PQ and HQsizes and RC.Core is oriented at 3m down hole intervals using aReflex Act II RD Orientation Tool.
Drill samplerecovery	• Method of recording and assessing core and chipsample recoveries and results assessed.• Measures taken to maximise sample recovery andensure representative nature of the samples.• Whether a relationship exists between samplerecovery and grade and whether sample bias mayhave occurred due to preferential loss/gain offine/coarse material.	Drill core interval recoveries are measured from coreblock to core block using a tape measure.Appropriate measures are taken to maximise samplerecovery and ensure the representative nature of thesamples.No apparent relationship is noted between samplerecovery and grade.
Logging	• Whether core and chip samples have beengeologically and geotechnically logged to a level ofdetail to support appropriate Mineral Resourceestimation, mining studies and metallurgical studies.• Whether logging is qualitative or quantitative in nature.Core (or costean, channel, etc.) photography.• The total length and percentage of the relevantintersections logged.	Drill holes were geologically logged by geologists forcolour, grainsize, lithology, minerals, alteration andweathering on geologically-domained intervals.Geotechnical and structure orientation data wasmeasured and logged for all diamond core intervals.Diamond core was photographed (wet and dry).Holes were logged in their entirety (100%) and thislogging was considered reliable and appropriate.

Sub-samplingtechniquesand samplepreparation	• If core, whether cut or sawn and whether quarter, halfor 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 andappropriateness of the sample preparation technique.• Quality control procedures adopted for all subsampling stages to maximise representivity ofsamples.• Measures taken to ensure that the sampling isrepresentative of the in-situ material collected,including for instance results for fieldduplicate/second-half sampling.• Whether sample sizes are appropriate to the grainsize of the material being sampled.	Diamond core was sampled at 1m intervals and cut inhalf to obtain a 2-4kg sample.Reverse circulation samples were collected on 1mintervals by riffle split (dry) or by scoop (wet) to obtain a1-3kg sample.Sample preparation for diamond core and RC samplesincludes oven drying, crushing to 10mm, splitting andpulverising to 85% passing -75µm. These preparationtechniques are deemed to be appropriate to the materialbeing sampled.Drill core coarse duplicates were split by the laboratoryafter crushing at a rate of 1:20 samples. Reversecirculation field duplicates were collected by theCompany at a rate of 1:20 samples.Sampling, sample preparation and quality controlprotocols are of industry standard and all attempts weremade to ensure an unbiased representative sample wascollected. The methods applied in this process weredeemed appropriate by the Competent Person.
Quality of assaydata and laboratorytests	• The nature, quality and appropriateness of theassaying and laboratory procedures used andwhether the technique is considered partial or total.• For geophysical tools, spectrometers, handheld XRFinstruments, etc., the parameters used in determiningthe analysis including instrument make and model,reading times, calibrations factors applied and theirderivation, etc.• Nature of quality control procedures adopted (e.g.standards, blanks, duplicates, external laboratorychecks) and whether acceptable levels of accuracy(i.e. lack of bias) and precision have beenestablished.	All samples were dispatched to ALS Bamako for goldanalysis by 30g fire assay fusion with AAS instrumentfinish (method code Au-AA25). Over-range results werere-analysed and reported by 30g fire assay fusion withgravimetric finish (method code Au-GRA21). Theanalytical method was appropriate for the style ofmineralisation.No geophysical tools were used to determine elementalconcentrations.Quality control (QC) procedures included the use ofcertified standards (1:40), non-certified sand blanks(1:40), diamond core coarse duplicates (1:20) andreverse circulation field duplicates (1:20).Laboratory quality control data, including laboratorystandards, blanks, duplicates, repeats, grind size resultsand sample weights were also captured into the digitaldatabase.Analysis of the QC sample assay results indicates thatan acceptable level of accuracy and precision has beenachieved.
Verification ofsampling andassaying	• The verification of significant intersections by eitherindependent or alternative company personnel.• The use of twinned holes.• Documentation of primary data, data entryprocedures, data verification, data storage (physicaland electronic) protocols.• Discuss any adjustment to assay data.	Verification of significant intersections have beencompleted by Company personnel and the CompetentPerson.No drill holes within the resource area were twinned.Drill holes were logged into digital templates with lookupcodes, validated and then compiled into a relational SQL2012 database using DataShed data managementsoftware. The database has verification protocols whichare used to validate the data entry. The drill holedatabase is backed up on a daily basis to the headoffice server.Assay result files were reported by the laboratory in PDFand CSV format and imported into the SQL databasewithout adjustment or modification.

Location of datapoints	• Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches, mineworkings and other locations used in MineralResource estimation.• Specification of the grid system used.• Quality and adequacy of topographic control.	Collar coordinates were picked up in UTM (WGS84) bystaff surveyors using an RTK DGPS with an expectedaccuracy of 0.05m; elevations were height aboveEGM96 geoid.Down hole surveys were collected at intervals between5m and 30m using either a Reflex EZ-Gyro northseeking instrument or a Reflex EZ-Trac magneticinstrument in single shot or multi shot mode. A timedependent declination was applied to the magneticreadings to determine UTM azimuth.Coordinates and azimuths are reported in UTM WGS84Zone 29 North.Coordinates were translated to local mine grid using 1point and rotation.Local topographic control is via LIDAR surveys, satellitephotography and drone UAV aerial survey.
Data spacing anddistribution	• Data spacing for reporting of Exploration Results.• Whether the data spacing and distribution is sufficientto establish the degree of geological and gradecontinuity appropriate for the Mineral Resource andOre Reserve estimation procedure(s) andclassifications applied.• Whether sample compositing has been applied.	Drill hole spacing was sufficient to demonstrategeological and grade continuity appropriate for a MineralResource and the classifications applied under the 2012JORC Code.The appropriateness of the drill spacing was reviewedby the geological technical team, both on site and headoffice. This was also reviewed by the CompetentPerson.Samples were collected on 1m intervals; no samplecompositing is applied during sampling.
Orientation of datain relation togeologicalstructure	• Whether the orientation of sampling achievesunbiased sampling of possible structures and theextent to which this is known, considering the deposittype.• If the relationship between the drilling orientation andthe orientation of key mineralised structures isconsidered to have introduced a sampling bias, thisshould be assessed and reported if material.	Holes were drilled predominantly perpendicular tomineralised domains where possible.No orientation-based sampling bias has been identifiedin the data.
Sample security	• The measures taken to ensure sample security.	Samples were collected from the drill site and stored onsite.All samples were individually bagged and labelled withunique sample identifiers, then securely dispatched tothe laboratories. All aspects of sampling and dispatchprocess were supervised and tracked bySOMIFI/SOMISY personnel.
Audits or reviews	• The results of any audits or reviews of samplingtechniques and data.	External audits of procedures indicate protocols arewithin industry standards.

At 31 December 2023

Section 2 Reporting of Exploration Results

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Mineral tenementand land tenurestatus	•Type, reference name/number, location and ownershipincluding agreements or material issues with thirdparties such as joint ventures, partnerships, overridingroyalties, native title interests, historical sites, wildernessor national park and environmental settings.•The security of the tenure held at the time of reportingalong with any known impediments to obtaining alicence to operate in the area.	Drilling at Syama was conducted within the MalianExploitation Concession Permit PE 93/003 which covers anarea of 200.6km2.Resolute Mining Limited has an 80% interest in the Syamaproject and the Exploitation Permit PE 93/003, on which it isbased, through its Malian subsidiary, Sociêtê des Mines deSyama SA (SOMISY). The Malian Government holds a freecarried 20% interest in SOMISY.The Permits are held in good standing. Malian mining lawprovides that all Mineral Resources are administered byDNGM (Direction Nationale de la Géologie et des Mines) orNational Directorate of Geology and Mines under theMinistry of Mines, Energy and Hydrology.
Exploration doneby other parties	•Acknowledgment and appraisal of exploration by otherparties.	The Syama deposit was originally discovered by a regionalgeochemical survey undertaken by the Direction National deGéologie et des Mines (DNGM) with assistance from theUnited Nations Development Program (UNDP) in 1985.There had also been a long history of artisanal activities onthe hill where an outcropping chert horizon originally markedthe present-day position of the open pit.BHP during 1987-1996 sampled pits, trenches, auger, RCand diamond drill holes across Syama prospects. RandgoldResources Ltd during 1996-2000 sampled pits, trenches,auger, RAB, RC and diamond drill holes across Syamaprospects.Etruscan Resources Inc explored Tabakoroni during 2002-2003 by auger, aircore, RC and diamond drill hole tails. TheTabakoroni area was previously explored Barrick Gold(1990) by auger, pits, trenches, RAB and diamond coredrilling.
Geology	•Deposit type, geological setting and style ofmineralisation.	The Syama Project is found on the northern margin of theAchaean-Proterozoic Leo Shield which forms the southernhalf of the West African Craton. The project area straddlesthe boundary between the Kadiana–Madinani terrane andthe Kadiolo terrane. The Kadiana-Madinani terrane isdominated by greywackes and a narrow belt of interbeddedbasalt and argillite. The Kadiolo terrane comprisespolymictic conglomerate and sandstone that were sourcedfrom the Kadiana-Madinani terrane and deposited in a lateto syntectonic basin.Prospects are centred on the NNE striking, west dipping,Syama-Bananso Fault Zone and Birimian volcanosedimentary units of the Syama Formation. The majorcommodity being sought is gold.
Drill holeInformation	•A summary of all information material to theunderstanding of the exploration results including atabulation of the following information for all Material drillholes:oeasting and northing of the drill hole collaroelevation or RL (Reduced Level – elevation abovesea level in metres) of the drill hole collarodip and azimuth of the holeodown hole length and interception depthoWhole length.•If the exclusion of this information is justified on thebasis that the information is not Material and this	All information, including easting, northing, elevation, dip,azimuth, coordinate system, drill hole length, intercept lengthand depth are measured and recorded in UTM Zone 29WGS84.The Syama belt is mostly located on the Tengrela 1/200,000topo sheet (Sheet NC 29-XVIII).Spectrum Survey & Mapping from Australia establishedsurvey control at Tabakoroni using AusPos onlineprocessing to obtain an accurate UTM Zone 29 (WGS84)and 'above geoid' RL for the origin of the survey controlpoints.Accuracy of the survey measurements is considered to meetacceptable industry standards.

	exclusion does not detract from the understanding of thereport, the Competent Person should clearly explainwhy this isthe case.	Drill hole information has been tabulated for this release inthe intercepts table of the accompanying text.For completeness the following information about the drillholes is provided:•Easting, Northing and RL of the drill hole collars aremeasured and recorded in UTM Zone 29 (WGS84).•Dip is the inclination of the drill hole from horizontal. Adrill hole drilled at -60° is 60° from the horizontal.•Down hole length is the distance down the inclinationof the hole and is measured as the distance from thehorizontal to end of hole.• Intercept depth is the distance from the start of the holedown the inclination of the hole to the depth of interestor assayed interval of interest.
Data aggregationmethods	•In reporting Exploration Results, weighting averagingtechniques, maximum and/or minimum gradetruncations (e.g. cutting of high grades) and cut-offgrades are usually Material and should be stated.•Where aggregate intercepts incorporate short lengths ofhigh-grade results and longer lengths of low-graderesults, the procedure used for such aggregation shouldbe stated and some typical examples of suchaggregations should be shown in detail.•The assumptions used for any reporting of metalequivalent values should be clearly stated.	Exploration results are tabulated using the followingparameters:•Grid coordinates are WGS84 Zone 29 North.•Cut-off grade for reporting of intercepts is >=1g/t Au.•No top cut of individual assays prior to length weightedcompositing of the reported intercept has been applied.•Maximum 3m consecutive internal dilution includedwithin the intercept.Metal equivalent values are not used in reporting.
Relationshipbetweenmineralisationwidths andintercept lengths	•These relationships are particularly important in thereporting of Exploration Results.•If the geometry of the mineralisation with respect to thedrill hole angle is known, its nature should be reported.•If it is not known and only the down hole lengths arereported, there should be a clear statement to this effect(e.g. 'down hole length, true width not known').	The Cashew NE, Paysans and Syama North mineralisationis shallowly dipping at about 30 degrees to the west (localgrid).The majority of the Tellem mineralisation is narrow and subvertical.The majority of the drill holes are planned at a generalinclination of -60 degrees east and as close to perpendicularto the ore zone as possible.At the angle of the drill holes and the dip of the ore zones,the reported intercepts will be slightly more than true width.
Diagrams	•Appropriate maps and sections (with scales) andtabulations of intercepts should be included for anysignificant discovery being reported These shouldinclude, but not be limited to a plan view of drill holecollar locations and appropriate sectional views.	No exploration results have been reported in this release.
Balancedreporting	•Where comprehensive reporting of all ExplorationResults is not practicable, representative reporting ofboth low and high grades and/or widths should bepracticed to avoid misleading reporting of ExplorationResults.	Significant intercepts of new drill holes have not beenreported in this release.
Other substantiveexploration 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 andmethod of treatment; metallurgical test results; bulkdensity, groundwater, geotechnical and rockcharacteristics; potential deleterious or contaminatingsubstances.	No geophysical and geochemical data or any additionalexploration information has been reported in this release, asthey are not deemed relevant to the release.

Further work	•The nature and scale of planned further work (e.g. testsfor lateral extensions or depth extensions or large-scalestep-out drilling).•Diagrams clearly highlighting the areas of possibleextensions, including the main geological interpretationsand future drilling areas, provided this information is notcommercially sensitive.	Further drilling is planned.
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At 31 December 2023

Section 3 Estimation and Reporting of Mineral Resources

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Databaseintegrity	• Measures taken to ensure that data has not been corruptedby, for example, transcription or keying errors, between itsinitial collection and its use for Mineral Resource estimationpurposes.• Data validation procedures used.	Cashew,Paysans and TellemData has been compiled into a relational SQL database;the setup of this database precludes the loading of datawhich do not meet the required validation protocols. Thedata is managed using DataShed© drill holemanagement software using SQL database techniques.Validation checks are conducted using SQL andDataShed© relational database standards. Data hasalso been checked against original hard copies for 100%of the data, and where possible, loaded from originaldata sources.Resolute completed the following basic validation checkson the data supplied prior to resource estimation:• Drill holes with overlapping sample intervals.
		• Sample intervals with no assay data or duplicaterecords.• Assay grade ranges.• Collar coordinate ranges.• Valid hole orientation data.
		There are no significant issues identified with the data.
Site visits	• Comment on any site visits undertaken by the CompetentPerson and the outcome of those visits.• If no site visits have been undertaken indicate whythis is the case.	Cashew and PaysansMr Bruce Mowat, a full-time employee of ResoluteMining Ltd and a Member of the Australasian Institute ofMining and Metallurgy is the Competent Person who hasvisited this site multiple times.
		Tellem and Syama North
		Mr Patrick Smillie is a full-time employee of ResoluteMining Ltd and a Member of the Society for Mining,Metallurgy, and Exploration is the competent person andhas visited site on multiple occasions.
		All aspects of drilling, sampling and mining areconsidered by the Competent Persons to be of a highindustry standard.
Geologicalinterpretation	• Confidence in (or conversely, the uncertainty of) thegeological interpretation of the mineral deposit.• Nature of the data used and of any assumptions made.• The effect, if any, of alternative interpretations on MineralResource estimation.	Cashew and PaysansThe digital database used for the interpretation includedlogged intervals for the key stratigraphic zones ofCashew NE, Paysans and Tellem. Detailed geologicallogs were available in hardcopy and digital and reviewedwhere necessary.
	• The use of geology in guiding and controlling MineralResource estimation.• The factors affecting continuity both of grade and geology.	Wireframes used to constrain the estimation are basedon drill hole intercepts and geological boundaries. Allwireframes at Cashew NE and Paysans have beenconstructed to a 0.3g/t Au cut-off grade for shapeconsistency. At Tellem they were constructed at nominal0.1g/t Au mineralised envelope.
		There is a moderate level of confidence for theinterpretation at Cashew NE, Paysans, Tellem andSyama North due to the relatively close-spaced drilling atsurface. The mineralisation is generally quite consistentand drill intercepts clearly define the shape of themineralised zones with limited options for large scalealternate interpretations.
Dimensions	• The extent and variability of the Mineral Resourceexpressed as length (along strike or otherwise), plan width,and depth below surface to the upper and lower limits of theMineral Resource.	CashewThe mineral resource at Cashew comprises threeindividual domains they all dip at about 30 degrees to thewest (local grid) from surface and extend 200 metresdown dip. The three domains extend for approximately350 metres along strike and the gold mineralised zonewidth varies between 1.5 and 20 metres, with an averagethickness of 7 metres.

		PaysansThree domains have been identified at Paysans. The threedomains all dip at about 30 degrees to the west (local grid)and extend for 300 metres down dip. The mineralised zonewidth varies between 1.5 and 10 metres with an averagethickness of 3 metres. They strike north-south (local grid) forapproximately 1,700 metres. The deposit has been dividedinto three areas by two faults which run east-west(local grid).TellemThere are three mineralised domains at Tellem. Thethree domains are narrow sub vertical zone of stockworkveins modelled to be between a few metres to 1.5metres in thickness. The strike length is approximately4.3 kilometres and covers a vertal extent of 270 metres.Syama NorthThe Syama North Mineral Resource area extends over astrike length of 6,000 metres (from 1,196,925mN to1,202,800mN), and includes the 310m vertical intervalfrom 455mRL to 145mRL. The overall plan width of themineralised lodes varies between 10 metres to 100metres in horizontal thickness.
•Estimation andmodellingtechniques	The nature and appropriateness of the estimationtechnique(s) applied and key assumptions, includingtreatment of extreme grade values, domaining,interpolation parameters and maximum distance ofextrapolation from data points. If a computer assistedestimation method was chosen include a descriptionof computer software and parameters used.•The availability of check estimates, previousestimates and/or mine production records andwhether the Mineral Resource estimate takesappropriate account of such data.•The assumptions made regarding recovery of byproducts.•Estimation of deleterious elements or othernon-grade variables of economic significance (e.g.sulphur for acid mine drainage characterization).•In the case of block model interpolation, the blocksize in relation to the average sample spacing andthe search employed.•In the case of block model interpolation, the blocksize in relation to the average sample spacing andthe search employed.•Any assumptions behind modelling of selectivemining units.•Any assumptions about correlation betweenvariables.•Description of how the geological interpretation wasused to control the resource estimates.•Discussion of basis for using or not using gradecutting or capping.•The process of validation, the checking processused, the comparison of model data to drill hole data,and use of reconciliation data if available.	CashewEstimation was completed in Datamine Studio RM usingan Ordinary Kriged model to estimate the gold, sulphidesulphur and organic carbon grades. Grades wereestimated into parent block of 5mE by 5mN by 2.5mRLwith sub- celling down to 2.5mE by 2.5mN by 2.5mRLwas employed for resolution of the mineralisationboundaries as defined by wireframes. The drill spacingat Cashew is a nominal 25 by 25 metres for theexploration holes for the majority of the deposits and 50by 50 metres around the periphery. The main part of thedeposit has been gc drilled out to 12.5 by 5 metres.Drillhole sample data was flagged using domain codesgenerated from three-dimensional mineralisationdomains. The samples were composited to 1 metreintervals.Variogram orientations were largely controlled by thestrike of the mineralisation and downhole variography.One set of variograms was generated for all themineralisation due to similar orientation of each of thedomains.Kriging neighbourhood analysis was performed tooptimise the block size, sample numbers anddiscretisation levels with the goal of minimisingconditional bias in the gold grade estimates.The mineralisation domains were treated as hardboundaries in the estimation process while oxidationsurfaces were treated as soft boundaries.Three search passes were used, with the first searchpass set to the range of the variogram for each domain.A minimum of 8 and a maximum of 30 samples wereused. The search stayed the same for the second passbut was increased by a factor of 2 for the third and finalpass. The minimum number of samples was reduced tosix for the second pass and for the third pass.No deleterious elements were found in the ore.No selective mining units have been assumed.Top cuts were applied to reduce the variability of thedata and to remove the outliers.The estimated block model grades were visuallyvalidated against the input drillhole data andcomparisons were carried out against the drillhole dataand by northing and elevation slices. Global comparisonbetween the input data and the block grades for eachvariable is considered acceptable (±10%)

PaysansEstimation was completed in Datamine Studio RM usingan Ordinary Kriged model to estimate the gold grade.Grades were estimated into parent block of 10mE by20mN (at Cashew, 25mN at Paysans) by 5mRL withsub- celling down to 2.5mE by 2.5mN by 2.5mRL wasemployed for resolution of the mineralisation boundariesas defined by wireframes. The drill spacing at Paysans isa nominal 25 by 25 metres for the exploration holes forthe majority of the deposits and 50 by 50 metres aroundthe periphery.Drillhole sample data was flagged using domain codesgenerated from three-dimensional mineralisationdomains. The samples were composited to one metreintervals.Variogram orientations were largely controlled by thestrike of the mineralisation and downhole variography.One set of variograms was generated for all themineralisation due to similar orientation of each of thedomains and sometimes lack of composites.Kriging neighbourhood analysis was performed tooptimise the block size, sample numbers anddiscretisation levels with the goal of minimisingconditional bias in the gold grade estimates.
At Cashew mineralisation domains were treated as hardboundaries in the estimation process while oxidationsurfaces were treated as soft boundaries. At Paysansthe mineralisation domains were treated as hardboundaries as well as the boundarybetween the transitional and fresh material within eachdomain.
The boundary between the oxide and transitional istreated as a soft boundary. Three search passes wereused, with the first search pass set to the range of thevariogram for each domain. A minimum of eight and amaximum of 30 samples were used. The search stayedthe same for the second pass but was increased by afactor of three for the third and final pass. The minimumnumber of samples was reduced to six for the secondpass and four for the third pass.
No deleterious elements were found in the ore.
No selective mining units have been assumed.Top cuts were applied to reduce the variability of thedata and to remove the outliers.
The estimated block model grades were visuallyvalidated against the input drillhole data andcomparisons were carried out against the drillhole dataand by northing and elevation slices. Global comparisonbetween the input data and the block grades for eachvariable is considered acceptable (±10%).
Syama North and Tellem
Estimation of gold grade has been completed usingOrdinary Kriging (OK).
The deposit mineralisation has been constrained bywireframes constructed using a combination of downholegold assay and associated lithological logging. Theselode wireframes have been used to define domain codesused for estimation. The drillholes have been flaggedwith the domain code and composited using the domaincode to segregate the data.
Domain boundary analysis has been undertaken, withhard boundaries used for all domains.
Drillholes have been composited to 1m intervals usingLeapfrog Geo 2023.2 with residual lengths distributed

At 31 December 2023

evenly across all composites. There are no residual samples.

The influence of extreme gold assays has been reduced by top-cutting across selected domains. Top-cuts have been determined using a combination of log probability, log histogram, and mean-variance plots. Top-cuts have been reviewed and applied to the composites on a domain-by-domain basis.

Variography has been determined using Datamine Supervisor v.8.14 software using top-cut values. Where there is insufficient data in individual domains to generate meaningful variograms, domains have been grouped, or variograms borrowed from other similar domains.

Drillhole data spacing ranges from 10m spacing in areas of dense drilling to approximately 100m spacing in sparsely drilled, deeper areas.

Syama North

The block model parent block size is 5m (X) by 10m (Y) by 5m (Z) with sub-blocks down to 0.3125m (X) by 0.625m (Y) by 0.3125m (Z), with the sub-blocks estimated at the scale of the parent block. The block size is considered appropriate for the drillhole spacing throughout the deposit.

Grade estimation has been completed in three passes:

• ➢ Pass 1 estimation has been undertaken using a minimum and maximum number of sample composites (determined using Datamine Supervisor v.8.14 KNA tool) into a search ellipsoid with dimensions equal to half the variogram range of the domain.
• ➢ Pass 2 estimation has been undertaken with the same minimum/maximum samples as Pass 1 into a search ellipsoid twice the first pass.
• ➢ Pass 3 estimation has been undertaken with a minimum of 4 samples, and the same maximum number of samples as the first two passes into a search ellipsoid twice the second pass

Previous Mineral Resource estimates are comparable in size and scope when considering the additional extensional drilling included in the current estimate.

The Mineral Resource estimate has been validated using visual validation tools, mean grade comparisons between the block model and declustered composite grade means, and swath plots comparing the input composite grades and the block model grades by Northing, Easting, and RL

No selective mining units are assumed in the estimate.

There will be no by-products recovered from mining.

No additional or deleterious elements have been estimated.

The model focuses on interpreting mineralisation beneath existing open pits. Historical reconciliation data is incomplete and has not been used.

Tellem

The block model parent block size is 5m (X) by 10m (Y) by 5m (Z) with sub-blocks down to 0.625m (X) by 1.25m (Y) by 0.625m (Z), with the sub-blocks estimated at the scale of the parent block. The block size is considered appropriate for the drillhole spacing throughout the deposit.

		Grade estimation has been completed in three passes:
		➢Pass 1 estimation has been undertaken usinga minimum and maximum number of samplecomposites (determined using DatamineSupervisor v.8.14 KNA tool) into a searchellipsoid with dimensions equal to half thevariogram range of the domain.
		➢Pass 2 estimation has been undertaken withthe same minimum/maximum samples asPass 1 into a search ellipsoid twice the firstpass.
		➢Pass 3 estimation has been undertaken with aminimum of 4 samples, and the samemaximum number of samples as the first twopasses into a search ellipsoid twice the secondpass
		Previous Mineral Resource estimates are comparable insize and scope when considering the additionalextensional drilling included in the current estimate.
		The Mineral Resource estimate has been validated usingvisual validation tools, mean grade comparisonsbetween the block model and declustered compositegrade means, and swath plots comparing the inputcomposite grades and the block model grades byNorthing, Easting, and RL
		No selective mining units are assumed in the estimate.
		There will be no by-products recovered from mining.
		No additional or deleterious elements have beenestimated.
		The model focuses on interpreting mineralisationbeneath existing open pits. Historical reconciliation datais incomplete and has not been used.
Moisture	•Whether the tonnages are estimated on a dry basisor with natural moisture, and the method ofdeterminationof the moisture content.	Cashew, Paysans, Tellem and Syama NorthAll tonnages have been estimated on a dry basis.
Cut-offparameters	•The basis of the adopted cut-off grade(s) or qualityparameters applied.	Mineral Resources for open pit extraction have beenreported at a 1g/t Au grade cut-off.
Mining factorsorassumptions	•Assumptions made regarding possible miningmethods, minimum mining dimensions and internal(or, if applicable, external) mining dilution. It is alwaysnecessary as part of the process of determiningreasonable prospects for eventual economicextraction to consider potential mining methods, butthe assumptions made regarding mining methodsand parameters when estimating Mineral Resourcesmay not always be rigorous. Where this is the case,this should be reported with an explanation of thebasis of the mining assumptions made.	Cashew, Paysans, Tellem and Syama NorthThe Resource models assume that a moderate level ofmining selectivity is achieved in open pit mining. It hasbeen assumed that high quality grade control will beapplied to ore/waste delineation processes using RCdrilling, or similar, at a nominal (and no greater) spacingof 5 metre by 12.5 metre and applying a patternsufficient to ensure adequate coverage of themineralisation zones.This is consistent with current mining practises atSyama.

Metallurgicalfactors orassumptions	•The basis for assumptions or predictions regardingmetallurgical amenability. It is always necessary aspart of the process of determining reasonableprospects for eventual economic extraction toconsider potential metallurgical methods, but theassumptions regarding metallurgical treatmentprocesses and parameters made when reportingMineral Resources may not always be rigorous.Where this is the case, this should be reported withan explanation of the basis of the metallurgicalassumptions made.	Cashew, Paysans, Tellem and Syama NorthNo metallurgical factors or assumptions have been madeduring the resource estimation process as these will beaddressed during the conversion to Ore Reserves.
Environmentalfactors orassumptions	•Assumptions made regarding possible waste andprocess residue disposal options. It is alwaysnecessary as partof the process of determining reasonable prospectsfor eventual economic extraction to consider thepotential environmental impacts of the mining andprocessing operation. While at this stage thedetermination of potential environmental impacts,particularly for a green fields project, may not alwaysbe well advanced, the status of early consideration ofthese potential environmental impacts should bereported. Where these aspects havenot been considered this should be reported with anexplanation of the environmental assumptions made.	Cashew, Paysans, Tellem and Syama NorthIt is a requirement of Decree No.03-594/P-RM of 31December 2003 of Malian law that an Environmental andSocial Impact Study (Étude d'Impact Environmental etSocial – EIES) must be undertaken to update thepotential environmental and social impacts of the mine'sredevelopment. The EIES for the Syama Gold Mine(including Tabakoroni) was approved in November 2007and an Environment Permit (07- 0054/MEA – SG) wasissued by the Ministry of Environment and Sanitation on22 November 2007. The Ministry of Environmentconducts timely reviews of the Syama Gold Mine toensure that the Company maintains compliance with theEIES guidelines.At Syama, there are three key practices for disposal ofwastes and residues namely, stacking of waste rockfrom open pit mining; storage of tailings from mineralprocesses; and "tall-stack dispersion" of sulphur dioxidefrom the roasting of gold bearing concentrate. All wastedisposal practices are in accordance with the guidelinesin the EIES.The Environmental and Social Impact Study – "Sociétédes Mines de Syama, Syama Gold Mine, Mali", dated2007 indicated there was minimal potential for acid minedrainage from waste rock due to the elevated carbonatecontent which buffers a potential acid generation.Resolute maintains a plan for progressive rehabilitationof waste rock landforms as part of ongoing minedevelopment and waste rock dumping.The landform of tailings impoundments does not have anet acid generating potential. The largest volume isflotation tailings where the sulphide minerals havealready been removed from the host rock. Its mineralogyincludes carbonates which further buffer any acidformation potential from sulphides that may also bepresent.Cyanide levels in the leached-calcine tailings aretypically less than 50ppm in the weak acid dissociableform. Groundwater away from the tailings landform isintercepted by trenches and sump pumps.Sulphur dioxide is generated from the roasting of goldconcentrate so that gold can be extracted and refined.Tall-Stack "dispersion" of the sulphur dioxide emission ismonitored continuously. Prevailing weather anddissipation of the sulphur dioxide is modelled daily topredict the need to pause the roasting process to meetthe air quality criteria set out in the Environmental andSocial Impact Study.
Bulk density	•Whether assumed or determined. If assumed, thebasis for the assumptions. If determined, the methodused, whether wet or dry, the frequency of themeasurements, the nature, size andrepresentativeness of the samples.	Paysans and TellemNo bulk density measurements have been taken atPaysans.An average SG was applied to the model by weatheringtype based on similar deposits at Syama:
	•The bulk density for bulk material must have beena)b)measured by methods that adequately account forc)void spaces (vugs, porosity, etc), moisture and	1.80 t/m3Oxide2.40 t/m3Transitional2.70 t/m3Fresh

	differences between rock and alteration zones withinthe deposit.•Discuss assumptions for bulk density estimates usedin the evaluation process of the different materials.a)b)c)	CashewOne hole had density measurements at Cashew. Theaverage density was adjusted to reflect the density ofthis hole. The density was assigned based onweathering:2.00 t/m3Oxide2.56 t/m3Transitional2.75 t/m3FreshSyama NorthSite personnel have completed numerous bulk densitycomparative estimates on HQ drill core to assessvariability using the Archimedes method of dry weightversus weight in water. This method was used for 96% ofthe bulk density measurements.Other tests were completed by SGS using thepycnometer method.Based on the data collected the following SG estimateswere applied to the model:Oxide1.80 t/m3Transitional2.40 t/m3Fresh2.70 t/m3
Classification	•The basis for the classification of the MineralResources into varying confidence categories.•Whether appropriate account has been taken of allrelevant factors (i.e. relative confidence intonnage/grade estimations, reliability of input data,confidence in continuity of geology and metal values,quality, quantity and distribution of the data).•Whether the result appropriately reflects theCompetent Person's view of the deposit.	Cashew and PaysansThe Indicated Mineral Resource classification is basedon moderate confidence in the geology and gold gradecontinuity with 25m x 25m spaced drillhole density orless.The Inferred Mineral Resource classification is applied toextensions of mineralised zones on the margins of thedeposit where drill spacing is more than 50m x 50m andthe extents of mineralisation at depth.The validation of the block model has confirmedsatisfactory correlation of the input data to the estimatedgrades and reproduction of data trends.Tellem and Syama NorthMineral Resources were classified in accordance withthe Australasian Code for the Reporting of ExplorationResults, Mineral Resources and Ore Reserves (JORC,2012).The deposits have been classified as Measured,Indicated, and Inferred Mineral Resource based on acombination of quantitative and qualitative criteria whichinclude geologic continuity, confidence in volumemodels, data quality, sample spacing, lode continuity,and estimation parameters (number of informingcomposites, estimation pass number, kriging qualityparameters, and minimum and average distancecomposites).The Measured portion of the Resource was definedusing areas populated on the first estimation pass,within 20m of informing composites; the krigingefficiency and slope of regression were generally >=0.7;and high confidence exists in lode continuity (strike andthickness).The Indicated portion of the Resource was definedusing areas populated on the first two estimationpasses within 50m of informing composites; the krigingefficiency and slope of regression were generally >=0.7;and moderate to high confidence exists in lodecontinuity (strike and thickness).Mineralisation that not classified by the aboveparameters has been classified as Inferred.The input data is comprehensive in its coverage anddoes not favour or misrepresent the in situmineralisation. The definition of the mineralised zones isbased on a high level of geologic understanding fromgood quality sample data, producing models ofcontinuous mineralised lodes. Validation of the block

		model shows good correlation of the input data to theblock estimated grades.The Mineral Resource estimate appropriately reflectsthe view of the Competent Person.
Audits orreviews	•The results of any audits or reviews of Mineral•Resource estimates.	Cashew, Paysans, Tellem and Syama NorthThere has been no external review of the MineralResource estimate.
Discussion ofrelativeaccuracy/confidence	•Where appropriate a statement of the relativeaccuracy and confidence level in the MineralResource estimate using an approach or proceduredeemed appropriate by the Competent Person. Forexample, the application of statistical or geostatisticalprocedures to quantify the relative accuracy of theresource within stated confidence limits, or, if such anapproach is not deemed appropriate,a qualitative discussion of the factors that could affectthe relative accuracy and confidence of the estimate.•The statement should specify whether it relates toglobal or local estimates, and, if local, state therelevant tonnages, which should be relevant totechnical and economic evaluation. Documentationshould include assumptions made and theprocedures used.•These statements of relative accuracy andconfidence of the estimate should be compared withproduction data, where available.	Cashew, Paysans, Tellem and Syama NorthThe Mineral Resource estimate has been classifiedbased on the quality of the data collected, the density ofdata, the confidence of the geological models andmineralisation models, and the grade estimation quality.This has been applied to a relative confidence based ondata density and zone confidence for resourceclassification. No relative statistical or geostatisticalconfidence or risk measure has been generated orapplied.The relative accuracy of the Mineral Resource estimateis reflected in the reporting of Indicated and Inferredresource categories as defined by 2012 JORC Codeguidelines.The estimate is considered to be relevant to an annuallevel of reporting of tonnage and grade.No production data available for comparison.

At 31 December 2023

Section 4 Estimation and Reporting of Ore Reserves

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Mineral Resourceestimate forconversion to OreReserves	•Description of the Mineral Resource estimate usedas a basis for the conversion to an Ore Reserve.•Clear statement as to whether the MineralResourcesare reported additional to, or inclusive of, the OreReserve.	Cashew South, Paysans_Samogo and TellemResources and Rese Cashew South,Paysans_Samogo and TellemResources and Reserves at Cashew South,Paysans_Samogo and Tellem are reported above a 1g/t cut-off . This was calculated as a marginal cut-offutilising open pit mining methods. Material below thiscut-off is not included in the mineral resource.Ore Reserves are the material reported as a sub-set ofthe resource, that which can be extracted from themine and processed with an economically acceptableoutcome.Mineral Resources are reported inclusive of OreReserves.rves at Cashew South, Paysans_Samogoand Tellem are reported above a 1 g/t cut-off . Thiswas calculated as a marginal cut-off utilising open pitmining methods. Material below this cut-off is notincluded in the mineral resource.Ore Reserves are the material reported as a sub-set ofthe resource, that which can be extracted from themine and processed with an economically acceptableoutcome.Mineral Resources are reported inclusive of OreReserves.Syama NorthThe Ore Reserves are based on the Mineral Resourceestimate detailed in the ASX release datedJanuary 2023. The resource was reported above a 1.0g/t gold grade cut-off, based on an equivalent gold priceof US$2,000/oz and using an Open pit miningmethodology. The Material below this cut-off is notincluded in the Mineral Resource.Ore Reserves are the Material reported as a sub-set ofthe resource, that which can be extracted from theregion and processed with an economically acceptableoutcome.
Site visits	•Comment on any site visits undertaken by theCompetent Person and the outcome of those visits.•If no site visits have been undertaken indicate whythis is the case.	Cashew South, Paysans_Samogo and TellemMr Kitwa Ndjibu a member of the Australasian Instituteof Mining and Metallurgy and is a Competent Personwho has visited the site the project is in the year 2023.Syama NorthThe Competent Person, Mr Kitwa Ndjibu, is a fulltime employee of Resolute Mining Ltd and a Memberof the Australasian Institute of Mining and Metallurgy.Regular site visit to the project area was conductedduring the year 2023, and weekly contact with siteteams was maintained throughout the period. Thesesite visits help to validate technical and operatingassumptions used in the preparation of these orereservesThe site visit reviewed the project site and proposedwaste dump location, a review of current operationsat Syama and Tabakoroni, existing open pitinfrastructure available, a review of selected drill coreand various meetings were held with site personnelkey stakeholders to the study.
Study status	•The type and level of study undertaken to enableMineral Resources to be converted to OreReserves.•The Code requires that a study to at least PreFeasibility Study level has been undertaken toconvert Mineral Resources to Ore Reserves. Suchstudies will have been carried out and will have	Cashew South, Paysans- Samogo and TellemFeasibility studies were completed for mining of opensatellite deposits in 2009 and mining of satellite pitshas been occurring since 2014.Further optimisations have been undertaken in 2022given the change in gold price and other inputs suchas mining and processing costs. The above-mentioned

	determined a mine plan that is technicallyachievable and economically viable, and thatmaterial Modifying Factors have been considered.	optimisations resulted in new pit designs at all sites,Cashew South, Paysans_Samogo and Tellem.Syama NorthSyama No Syama North Consist of A21, Beta, Alpha& Ba04.Feasibility Studies were completed for mining ofOpen pit satellite deposits in 2016, and mining ofsatellite pits has been occurring since 2016. Recentdrilling in Syama North has identified a significantresource in sulphide, spread across the Syama Northregion, an extension to the known oxide deposit.Additional drilling was completed targeting the A21area and the resource model was updated in August2023 with additional information. Pit was reoptimizedusing the new model and redesigned to match thelatest optimisation. All Reserves were declared asProbable as more test works and drilling is ongoingto firm up the modifying factors (geotechnical inputs).The work undertaken to date has addressed allmaterial Modifying Factors required for theconversion of a Mineral Resources estimate into anOre Reserve estimate and has shown materialchange to the reserve; i.e, change in tonnes, grades,rock type (Oxide; Transisitional and Fresh).Furthermore, the result shows that the mine plan istechnically feasible and economically viable.rthConsist of A21, Beta, Alpha & Ba04.Feasibility Studies were completed for mining ofOpen pit satellite deposits in 2016, and mining ofsatellite pits has been occurring since 2016. Recentdrilling in Syama North has identified a significantresource in sulphide, spread across the Syama Northregion, an extension to the known oxide deposit.Additional drilling was completed targeting the A21area and the resource model was updated in August2023 with additional information. Pit was reoptimizedusing the new model and redesigned to match thelatest optimisation. All Reserves were declared asProbable as more test works and drilling is ongoingto firm up the modifying factors (geotechnical inputs).The work undertaken to date has addressed allmaterial Modifying Factors required for theconversion of a Mineral Resources estimate into anOre Reserve estimate and has shown materialchange to the reserve; i.e, change in tonnes,grades, rock type (Oxide; Transisitional and Fresh).Furthermore, the result shows that the mine plan istechnically feasible and economically viable.
Cut-offparameters	•The basis of the cut-off grade(s) or qualityparameters applied.	Cashew South, Paysans_Samogo and TellemCashew South, Paysans_Samogo and Tellem. use acut-off of 0.8 g/t, based on the economic parametersdescribed in subsequent sections. The increase ingold price from $1500/oz-$1650/oz has been balancedby the increase in dilution across the Syama southresulting in no change to the cut of gradeSyama NorthBased on the economic parameters described insubsequent sections, calculated cut of grade of thefresh representing more than 90% of Syama North oreis approximately 1.07 g/t. As a result, Syama Northuses a cut-off of 1.0 g/t.

Mining factors orassumptions	•The method and assumptions used as reported inthe Pre-Feasibility or Feasibility Study to convertthe Mineral Resource to an Ore Reserve (i.e. eitherby application of appropriate factors by optimizationor by preliminary or detailed design).•The choice, nature and appropriateness of theselected mining method(s) and other miningparameters including associated design issuessuch as pre-strip, access, etc.•The assumptions made regarding geotechnicalparameters (e.g. pit slopes, stope sizes, etc.), gradecontrol and pre-production drilling.•The major assumptions made and MineralResource model used for pit and stope optimization(if appropriate).•The mining dilution factors used.•The mining recovery factors used.•Any minimum mining widths used.•The manner in which Inferred Mineral Resourcesare utilized in mining studies and the sensitivity ofthe outcome to their inclusion.•The infrastructure requirements of the selectedmining methods.	Cashew South, Paysans_Samogo and TellemThe reported Ore Reserve estimates Cashew NE,Tellem and Paysans are based on pit optimisationsconducted using the Lerchs-Grossman (LG) algorithmutilizing the Whittle to determine the optimal pit atspecific input parameters and pit designs. Costs arebased on existing contract mining and haulage ratesand site costs which are understood with a highdegree of accuracy.Mining is planned to be undertaken by conventionalopen pit methods of drill and blast, followed by loadand haul.Detailed pit design work was completed based on pitoptimisations using Whittle Four-X optimisationsoftware. Only Measured and Indicated Resourceswere used in the pit optimisation.Overall slope angles are approximately 40° based onempirical experience from the mining other similarsatellite pitsGrade control consists of RC drilling, based on a5.0mE x 12.5mN drill patternA 5 % dilution factor and 10% mining loss factors havebeen applied to all satellite Cashew South, Paysans,Folona and Tellem.Minimum Mining Width used is 15m.Syama NorthThe reported Ore Reserve estimates for Syama Northare based on pit optimisations conducted using theLerchs-Grossman (LG) algorithm utilizing the NPVScheduler and reviewed in Whittle to calculate theoptimal pit at specific input parameters and pitdesigns. Costs are based on existing contract miningand haulage rates and site costs which are understoodwith a high degree of accuracy.Mining is planned to be undertaken by conventionalopen pit methods of drill and blast, followed by loadand haul.Detailed pit design work was completed based on pitoptimisations result. Only Measured and IndicatedResources were used in the pit optimisation.Overall slope angles are dependent on rock type;approximately 34° for Oxide, 38° for Transisitional and50° for Fresh as recommended by Geotechnicalconsultants and operational experience in mining othersimilar pits in same region.A 5% dilution and 10 % mining loss factor applied. AllInferred material is treated as waste and is excludedfrom Reserve Reporting. However, at A21 centralwest, currently operating, site has applied 10% dilutionand 5% mining loss.Inferred Mineral Resources are not included in the pitoptimisation and pit design. A mining and productionschedule were completed with Inferred MineralResource treated as waste. As a result, the conversionof Inferred Mineral Resource to processed product isnot required for the overall financial viability of theproject.
Metallurgicalfactors orassumptions	•The metallurgical process proposed and theappropriateness of that process to the style ofmineralization.•Whether the metallurgical process is well-testedtechnology or novel in nature.•The nature, amount and representativeness ofmetallurgical test work undertaken, the nature of themetallurgical domaining applied and thecorresponding metallurgical recovery factorsapplied.•Any assumptions or allowances made fordeleterious elements.	Cashew South, Paysans_Samogo and TellemProcessing is by conventional primary crushingfollowed by single stage SAG milling. Gold recovery isby means of a gravity recovery circuit and carbon inleach process.Processing recoveries used are 90%, 80% and 65%for Oxide, Transitional and Fresh material respectively.Mine is operational with good reconciliation betweenpredicted recoveries and actuals.Allowances are made in the recovery estimates forTransitional and Fresh ore as the Au recovery isimpacted by some of the gold being hosted inrefractory sulphide and preg-robbing carbonSyama North

	•The existence of any bulk sample or pilot scale testwork and the degree to which such samples areconsidered representative of the ore body as awhole.•For minerals that are defined by a specification, hasthe ore reserve estimation been based on theappropriate mineralogy to meet the specifications?	Metallurgical test work was conducted on multiplesamples. The tests indicated that, similarly to theSyama ore. The processing of the ore will be similarto that of the Syama sulphide circuit which has beenin operation for several years and is well understood,consisting of the following stages:•Crushing and grinding utilising the existingoxide process plant infrastructure•Gravity gold recovery utilising the existingoxide gravity circuit•Flotation to produce a sulphide richconcentrate•Concentrate thickening•Roasting, followed by calcine quench andwash•Carbon-in-leach (CIL)•Tailings disposalThe oxide crushing and grinding circuit has an oxidecapacity of 1.6 Mtpa, and Sulphide crushing &grinding has a sulphide capacity of 2.4 Mtpa. PFSstudy is underway to expand the oxide circuit to adual feed circuit to feed additional Sulphide ore oncethe oxide ore depletes.The Syama roaster, CIL circuit and tailings storagefacility has enough capacity to process the additionalconcentrate from Syama North Sulphide ore stream.A total gold recovery of 86%, 80% and 78%, hasbeen assumed for Oxide, Transitional and FreshMaterial respectively, based on test results to date.This is in line with similar ore being processed atSyama.
Environmental	•The status of studies of potential environmentalimpacts of the mining and processing operation.Details of waste rock characterization and theconsideration of potential sites, status of designoptions considered and, where applicable, thestatus of approvals for process residue storage andwaste dumps should be reported.	Cashew South, Paysans_Samogo and TellemOre from these pits will be processed at Syama andtailings storage will be impounded in existing footprintarea approved in the Environmental & Social ImpactStudy. Progressive raising of the tailings occursregularly with the 9th lift completed in 2019. Routineprogress on the monitoring is reported to governmentand at stakeholder meetings in concert with routineinspections by government representatives.SyamaNorthAn active waste rock characterisation program hasbeen put in place. Potentially Acid Forming (PAF)and Non Acid Forming (NAF) will be identified forwaste material dumping in light of closure planconsideration.Ore from these pits will be processed at Syama andtailings storage will be impounded in existing tailingsstorage area.
Infrastructure	•The existence of appropriate infrastructure:availability of land for plant development, power,water, transportation (particularly for bulkcommodities), labour, accommodation; or the easewith which the infrastructure can be provided, oraccessed.	Cashew NE, Paysans, Tellem, and Syama NorthThese pits will be supported by existing infrastructureat Syamaas they are close to the main facility.
Costs	•The derivation of, or assumptions made, regardingprojected capital costs in the study.•The methodology used to estimate operating costs.•Allowances made for the content of deleteriouselements.•The derivation of assumptions made of metal orcommodity price(s), for the principal minerals andco- products.	All pits are located within approximately 10km ofSyama. Ore is trucked to Syama where it is processedat Syama's oxide circuit. General and administrationcosts are shared between the oxide plant and thesulphide plant which treats the Syama UG orebody. Aspart of ongoing operations, capital and operatingbudgets are prepared from first principles andconsidering existing contractual agreements.

	•The source of exchange rates used in the study.•Derivation of transportation charges.•The basis for forecasting or source of treatment andrefining charges, penalties for failure to meetspecification, etc.•The allowances made for royalties payable, both•Government and private.	The oxide plant produces gold doré (withoutproblematic deleterious elements) that is subsequentlyrefined offsite. Refining costs are not material.•Exchange rates used for planning purposes arefrom consensus forecasts provided by externalcorporate advisers.•Ad valorem Government royalties of 6% arepayable on gold production.
Revenue factors	•The derivation of, or assumptions made regardingrevenue factors including head grade, metal orcommodity price(s) exchange rates, transportationand treatment charges, penalties, net smelterreturns, etc.•The derivation of assumptions made of metal orcommodity price(s), for the principal metals,minerals and co-products.	A gold price of US$1,650/oz formed the basis of theOre Reserves. Gold prices used for planning are fromconsensus forecasts provided by external corporateadvisers.No penalties are incurred, nor is any revenue receivedfrom co-products.
Marketassessment	•The demand, supply and stock situation for theparticular commodity, consumption trends andfactors likely to affect supply and demand into thefuture.•A customer and competitor analysis along with theidentification of likely market windows for theproduct.•Price and volume forecasts and the basis for theseforecasts.•For industrial minerals the customer specification,testing and acceptance requirements prior to asupply contract.	The market for gold is robust with prevailing gold pricebeing well above the Reserve price.Supply and demand are not considered material to theOreReserve calculations.
Economic	•The inputs to the economic analysis to produce thenet present value (NPV) in the study, the sourceand confidence of these economic inputs includingestimated inflation, discount rate, etc.•NPV ranges and sensitivity to variations in thesignificant assumptions and inputs.	Cashew South, Paysans_Samogo and TellemThe financial evaluation undertaken as part of theevaluation of these open pits indicated a positive netpresent value (NPV) at 7% discount rate and operatingresults to date have exceeded production and NPVforecasts.Syama NorthThe financial evaluation undertaken as part of theevaluation indicated a positive net present value(NPV) at a 7% annual discount rate. The followingmajor economic inputs were used:•Costs as previous described•Gold price of US$1650/oz•Royalties of 6%•Effective tax rate of 25% (Corporate taxrate of 30% with 5% discount provided bythe Malian government to Tabakoroni)•Discount rate of 7% per annum for real,post-tax cash flows.
Social	•The status of agreements with key stakeholdersand matters leading to social license to operate.	Cashew South, Paysans_samogo and TellemThe Southern Satellite Pits fall within the Syamaexploitation permit and will be managed and operatedby SOMISY SA.Development of the Southern Satellite pits hasrequired updating of the SOMISY ESIA which hasbeen lodged with the Government of Mali sinceDecember 2019. The ESIA process has requiredconsultation with local community and localgovernment leadership plus other relevantstakeholders. Engagement will continue up to andduring operations including the payment of

Other	•To the extent relevant, the impact of the followingon the project and/or on the estimation andclassification of the Ore Reserves:	compensation to farmers whose fields are disturbed asper Malian legal requirements.It is anticipated that Malian nationals will fill mostoperating and management positions related to theSouthern Satellite open pits.It is the intention to encourage economic developmentwithin the local communityThe Syama Mine Community Consultative Committee,which includes representation from Tabakoroni andthe villages adjacent to the Southern Satellites, wasestablished in February 2001 with representativesfrom local villages, the Malian Government andSOMISY. Since April 2004 the Committee has metregularly as a communication forum and to addresscommunity issues and assist with community projectproposals; it continues to meet on the first or secondTuesday of each month.Syama NorthThe Syama North Pits fall within the Syamaexploitation permit and will be managed and operatedby SOMISY SA.Development of the Syama North requires updating ofthe SOMISY ESIA. The ESIA process requiresconsultation with local community and governmentleadership and other relevant stakeholders.Engagement will continue up to and during operationsincluding the payment of compensation to farmerswhose fields are disturbed as per Malian legalrequirements.Malian nationals are anticipated to fill most operatingand management positions related to the SouthernSatellite open pits. The intention is to encourageeconomic development within the local communityCashew South, Paysans_Samogo, Tellem andSyama NorthAll current government agreements and approvalsare in good standing and no anticipated changes are
	•Any identified material naturally occurring risks.•The status of material legal agreements andmarketing arrangements.•The status of governmental agreements andapprovals critical to the viability of the project, suchas mineral tenement status, and government andstatutory approvals. There must be reasonablegrounds to expect that all necessary Governmentapprovals will be received within the timeframesanticipated in the Pre-Feasibility or Feasibility study.Highlight and discuss the materiality of anyunresolved matter that is dependent on a third partyon which extraction of the reserve is contingent.	expected. Political instability is a potential risk inMali, but the owner has many years operatingexperience in this environment through the currentSyama operations. The current Malian government issupportive of mining operations and the currentSyama and operations are in good standing with theauthorities. There are no current unresolved mattersaffecting this project.
Classification	•The basis for the classification of the Ore Reservesinto varying confidence categories.•Whether the result appropriately reflects theCompetent Person's view of the deposit.•The proportion of Probable Ore Reserves that havebeen derived from Measured Mineral Resources (ifany).	Cashew South, Paysans_Samogo and TellemProbable Ore Reserves were declared based on theIndicated Mineral Resources and MeasuredResources considering the uncertainty of theModifying Factors such as geotechnical inputs.Nevertheless, since Paysans Central is an operatingmine, the uncertainties are reduced but geotechnicalstudy is yet to confirm the modifying factors (pitgeometry; i.e; batter face angle and berm width. As aresult, there is no Measures Resources conversioninto Proved Reserve.The Ore Reserve estimate appropriately reflects theCompetent Person's view of the deposit.Syama NorthProved and Probable Ore Reserves were declaredbased on the Measured and Indicated MineralResources.The Ore Reserve estimate appropriately reflects theCompetent Person's view of the deposit.

Audits or reviews	•The results of any audits or reviews of Ore Reserveestimates.	None of the Measured Mineral Resource wasconverted to Proven Ore Reserves as the PFS studyfor plant expansion is underway.Cashew South, Paysans_Samogo, Tellem, andSyama NorthNo external audits of resources/reserves wereundertaken.
Discussion ofrelative accuracy/confidence	•Where appropriate a statement of the relativeaccuracy and confidence level in the Ore Reserveestimate using an approach or procedure deemedappropriate by the Competent Person. Forexample, the application of statistical orgeostatistical procedures to quantify the relativeaccuracy of the reserve within stated confidencelimits, or, if such an approach is not deemedappropriate, a qualitative discussion of the factorswhich could affect the relative accuracy andconfidence of the estimate.•The statement should specify whether it relates toglobal or local estimates, and, if local, state therelevant tonnages, which should be relevant totechnical and economic evaluation. Documentationshould include assumptions made and theprocedures used.•Accuracy and confidence discussions shouldextend to specific discussions of any appliedModifying Factors that may have a material impacton Ore Reserve viability, or for which there areremaining areas of uncertainty at the current studystage.•It is recognized that this may not be possible orappropriate in all circumstances. These statementsof relative accuracy and confidence of the estimateshould be compared with production data, whereavailable.	Cashew South, Paysans_Samogo,Tellem, and SyamaNorthThe relative accuracy and confidence of the OreReserve estimate is inherent in the Ore ReserveClassification.All the parameters assumed and adopted along withfinancial modelling and analysis have been subject tointernal peer review.

Tabakoroni Satellite Deposits – Porphyry Zone (Splay)

Section 1 Sampling Techniques and Data

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Samplingtechniques	•Nature and quality of sampling (e.g. cut channels, randomchips, or specific specialised industry standard measurementtools appropriate to the minerals under investigation, such asdown hole gamma sondes, or handheld XRF instruments,etc.). These examples should not be taken as limiting thebroad meaning of sampling.•Include reference to measures taken to ensure samplerepresentivity and the appropriate calibration of anymeasurement tools or systems used.•Aspects of the determination of mineralisation that areMaterial to the Public Report.•In cases where 'industry standard' work has been done thiswould be relatively simple (e.g. 'reverse circulation drillingwas used to obtain 1 m samples from which 3 kg waspulverised to produce a 30 g charge for fire assay'). In othercases more explanation may be required, such as wherethere is coarse gold that has inherent sampling problems.Unusual commodities or mineralisation types (e.g. submarinenodules) may warrant disclosure of detailed information.	The samples were collected from reverse circulation(RC) and diamond core drill holes.RC samples were collected on 1m intervals by rifflesplit (dry) or by scoop (wet), to obtain a 1-3kg samplewhich was sent to the laboratory for crushing, splittingand pulverising to provide a 30g charge for analysis.Diamond core was sampled at 1m intervals and cut inhalf, to provide a 2-4kg sample, which was sent to thelaboratory for crushing, splitting and pulverising toprovide a 30g charge for analysis.Sampling and sample preparation protocols areindustry standard and are deemed appropriate by theCompetent Person.
Drillingtechniques	•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 ifso, by what method, etc.).	Drill types used include diamond core of PQ and HQsizes and RC.Core is oriented at 3m down hole intervals using aReflex Act II RD Orientation Tool.
Drill samplerecovery	•Method of recording and assessing core and chip samplerecoveries and results assessed.•Measures taken to maximise sample recovery and ensurerepresentative nature of the samples.•Whether a relationship exists between sample recovery andgrade and whether sample bias may have occurred due topreferential loss/gain of fine/coarse material.	Drill core interval recoveries are measured from coreblock to core block using a tape measure.Appropriate measures are taken to maximise samplerecovery and ensure the representative nature of thesamples.No apparent relationship is noted between samplerecoveryand grade.
Logging	•Whether core and chip samples have been geologically andgeotechnically logged to a level of detail to supportappropriate Mineral Resource estimation, mining studiesand metallurgical studies.•Whether logging is qualitative or quantitative in nature.Core (or costean, channel, etc.) photography.•The total length and percentage of the relevantintersections logged.	Drill holes were geologically logged by geologists forcolour, grainsize, lithology, minerals, alteration andweathering on geologically-domained intervals.Geotechnical and structure orientation data wasmeasured and logged for all diamond core intervals.Diamond core was photographed (wet and dry).Holes were logged in their entirety (100%) and thislogging was considered reliable and appropriate.
Sub-samplingtechniques andsamplepreparation	•If core, whether cut or sawn and whether quarter, half or allcore taken.•If non-core, whether riffled, tube sampled, rotary split, etc. andwhether sampled wet or dry.•For all sample types, the nature, quality and appropriatenessof the sample preparation technique.•Quality control procedures adopted for all sub-samplingstages to maximise representivity of samples.•Measures taken to ensure that the sampling is representativeof the in-situ material collected, including for instance resultsfor field duplicate/second-half sampling.•Whether sample sizes are appropriate to the grain size of thematerial being sampled.	Diamond core was sampled at 1m intervals and cut inhalf to obtain a 2-4kg sample.Reverse circulation samples were collected on 1mintervals by riffle split (dry) or by scoop (wet) to obtaina 1-3kg sample.Sample preparation for diamond core and RCsamples includes oven drying, crushing to 10mm,splitting and pulverising to 85% passing -75µm. Thesepreparation techniques are deemed to be appropriateto the material being sampled.Drill core coarse duplicates were split by thelaboratory after crushing at a rate of 1:20 samples.

		Reverse circulation field duplicates were collected bythe Company at a rate of 1:20 samples.
		Sampling, sample preparation and quality controlprotocols are of industry standard and all attemptswere made to ensure an unbiased representativesample was collected. The methods applied in thisprocess were deemed appropriate by the CompetentPerson.
Quality of assaydata andlaboratory tests	•The nature, quality and appropriateness of the assaying andlaboratory procedures used and whether the technique isconsidered partial or total.•For geophysical tools, spectrometers, handheld XRFinstruments, etc., the parameters used in determining theanalysis including instrument make and model, reading times,calibrations factors applied and their derivation, etc.•Nature of quality control procedures adopted (e.g. standards,blanks, duplicates, external laboratory checks) and whetheracceptable levels of accuracy (i.e. lack of bias) and precisionhave been established.	All samples were dispatched to ALS Bamako for goldanalysis by 30g fire assay fusion with AAS instrumentfinish (method code Au-AA25). Over-range resultswere re-analysed and reported by 30g fire assayfusion with gravimetric finish (method code AuGRA21). The analytical method was appropriate forthe style of mineralisation.No geophysical tools were used to determineelemental concentrations.Quality control (QC) procedures included the use ofcertified standards (1:40), non-certified sand blanks(1:40), diamond core coarse duplicates (1:20) andreverse circulation field duplicates (1:20).Laboratory quality control data, including laboratorystandards, blanks, duplicates, repeats, grind sizeresults and sample weights were also captured intothe digital database.Analysis of the QC sample assay results indicatesthat an acceptable level of accuracy and precision has
		been achieved.
Verification ofsampling andassaying	•The verification of significant intersections by eitherindependent or alternative company personnel.•The use of twinned holes.	Verification of significant intersections have beencompleted by Company personnel and the CompetentPerson.
	•Documentation of primary data, data entry procedures, data	No drill holes within the resource area were twinned.
	verification, data storage (physical and electronic) protocols.•Discuss any adjustment to assay data.	Drill holes were logged into digital templates withlookup codes, validated and then compiled into arelational SQL 2012 database using DataShed datamanagement software. The database has verificationprotocols which are used to validate the data entry.The drill hole database is backed up on a daily basisto the head office server.
		Assay result files were reported by the laboratory inPDF and CSV format and imported into the SQLdatabase without adjustment or modification.
Location of datapoints	•Accuracy and quality of surveys used to locate drill holes(collar and down-hole surveys), trenches, mine workings andother locations used in Mineral Resource estimation.•Specification of the grid system used.•Quality and adequacy of topographic control.	Collar coordinates were picked up in UTM (WGS84)by staff surveyors using an RTK DGPS with anexpected accuracy of 0.05m; elevations were heightabove EGM96 geoid.Down hole surveys were collected at intervalsbetween 5m and 30m using either a Reflex EZ-Gyronorth seeking instrument or a Reflex EZ-Tracmagnetic instrument in single shot or multi shot mode.A time-dependent declination was applied to themagnetic readings to determine UTM azimuth.Coordinates and azimuths are reported in UTMWGS84 Zone 29 North.Coordinates were translated to local mine grid using 1point and rotation.Local topographic control is via LIDAR surveys,satellite photography and drone UAV aerial survey.
Data spacing anddistribution	•Data spacing for reporting of Exploration Results.•Whether the data spacing and distribution is sufficient toestablish the degree of geological and grade continuityappropriate for the Mineral Resource and Ore Reserveestimation procedure(s) and classifications applied.	Drill hole spacing was sufficient to demonstrategeological and grade continuity appropriate for aMineral Resource and the classifications appliedunder the 2012 JORC Code.

	•Whether sample compositing has been applied.	The appropriateness of the drill spacing was reviewedby the geological technical team, both on site andhead office. This was also reviewed by the CompetentPerson.Samples were collected on 1m intervals; no samplecompositing is applied during sampling.
Orientation ofdata in relation togeologicalstructure	•Whether the orientation of sampling achieves unbiasedsampling of possible structures and the extent to which this isknown, considering the deposit type.•If the relationship between the drilling orientation and theorientation of key mineralised structures is considered to haveintroduced a sampling bias, this should be assessed andreported if material.	Holes were drilled predominantly perpendicular tomineralised domains where possible.No orientation-based sampling bias has beenidentified in the data.
Sample security	•The measures taken to ensure sample security.	Samples were collected from the drill site and storedon site. All samples were individually bagged andlabelled with unique sample identifiers, then securelydispatched to the laboratories. All aspects of samplingand dispatch process were supervised and tracked bySOMIFI personnel.
Audits or reviews	•The results of any audits or reviews of sampling techniquesand data.	External audits of procedures indicate protocols arewithin industry standards.

At 31 December 2023

Section 2 Reporting of Exploration Results

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Mineral tenementand land tenurestatus	•Type, reference name/number, location and ownershipincluding agreements or material issues with third partiessuch as joint ventures, partnerships, overriding royalties,native title interests, historical sites, wilderness or nationalpark and environmental settings.	Porphyry Zone drilling was completed within the Finkolo-TabakoroniExploitation Licence PE 13/19. Resolute Mining Limited has an 85%interest in Exploitation Permit PE 13/19, through its Maliansubsidiary, Sociêtê des Mines de Finkolo SA (SOMIFI). The MalianGovernment holds a free carried 10% interest in SOMIFI.
	•The security of the tenure held at the time of reportingalong with any known impediments to obtaining a licenceto operate in the area.	The Permits are held in good standing. Malian mining lawprovides that all Mineral Resources are administered by DNGM(Direction Nationale de la Géologie et des Mines) or NationalDirectorate of Geology and Mines under the Ministry of Mines,Energy and Hydrology.
Exploration doneby other parties	•Acknowledgment and appraisal of exploration by otherparties.	Etruscan Resources Inc explored Tabakoroni during 2002-2003by auger, aircore, RC and diamond drill hole tails. TheTabakoroni area was previously explored by BHP (1988-1990)and Barrick Gold (1990) by auger, pits, trenches, RAB anddiamond core drilling.
Geology	•Deposit type, geological setting and style of mineralisation.	The Tabakoroni Porphyry Zone is located on a NNE trendingsplay of the NNW oriented Main Tabakoroni Shear Zone.
		Host rocks are comprised of interbedded greywacke and shalewith small intrusions of quartz feldspar phyric dacite porphyry.Ductile shearing affects all units and is particularly focussedwithin the shale units.
		Mineralisation occurs as quartz-pyrite veins and sulphidic shearswithin shale units. Visible gold is commonly seen in vein quartz.
		The gold mineralisation at the 'Porphyry Zone" is somewhaterratic with more coherent zones striking NNE and dippingshallowly and steeply west.
Drill holeInformation	•A summary of all information material to the understandingof the exploration results including a tabulation of thefollowing information for all Material drill holes:oeasting and northing of the drill hole collaroelevation or RL (Reduced Level – elevation above sealevel in metres) of the drill hole collarodip and azimuth of the holeodown hole length and interception depthoWhole length.•If the exclusion of this information is justified on the basisthat the information is not Material and this exclusion doesnot detract from the understanding of the report, theCompetent Person should clearly explain why this isthe case.	No exploration results have been reported in this release.All information, including easting, northing, elevation, dip,azimuth, coordinate system, drill hole length, intercept lengthand depth are measured and recorded in UTM Zone 29 WGS84.The Syama belt is mostly located on the Tengrela 1/200,000topo sheet (Sheet NC 29-XVIII).The Tabakoroni local grid has been tied to the UTM Zone 29WGS84 co-ordinate system.Spectrum Survey & Mapping from Australia established surveycontrol at Tabakoroni using AusPos online processing to obtainan accurate UTM Zone 29 (WGS84) and 'above geoid' RL forthe origin of the survey control points.Accuracy of the survey measurements is considered to meetacceptable industry standards.Drill hole information has been tabulated for this release in theintercepts table of the accompanying text.For completeness the following information about the drill holesis provided:•Easting, Northing and RL of the drill hole collars aremeasured and recorded in UTM Zone 29 (WGS84).•Dip is the inclination of the drill hole from horizontal. A drillhole drilled at -60° is 60° from the horizontal.•Down hole length is the distance down the inclination of thehole and is measured as the distance from the horizontal toend of hole.

		•Intercept depth is the distance from the start of the holedown the inclination of the hole to the depth of interest orassayed interval of interest.
Data aggregationmethods	•In reporting Exploration Results, weighting averagingtechniques, maximum and/or minimum grade truncations(e.g. cutting of high grades) and cut-off grades are usuallyMaterial and should be stated.•Where aggregate intercepts incorporate short lengths ofhigh grade results and longer lengths of low grade results,the procedure used for such aggregation should be statedand some typical examples of such aggregations shouldbe shown in detail.•The assumptions used for any reporting of metalequivalent values should be clearly stated.	Exploration results are tabulated using the following parameters:•Grid coordinates are WGS84 Zone 29 North.•Cut-off grade for reporting of intercepts is >=1g/t Au.•No top cut of individual assays prior to length weightedcompositing of the reported intercept has been applied.•Maximum 3m consecutive internal dilution included withinthe intercept.Metal equivalent values are not used in reporting.
Relationshipbetweenmineralisationwidths andintercept lengths	•These relationships are particularly important in thereporting of Exploration Results.•If the geometry of the mineralisation with respect to the drillhole angle is known, its nature should be reported.•If it is not known and only the down hole lengths arereported, there should be a clear statement to this effect(e.g. 'down hole length, true width not known').	The majority of the drill holes are planned at a generalinclination of -60 degrees east and as close to perpendicular tothe ore zone as possible.At the angle of the drill holes and the dip of the ore zones, thereported intercepts will be slightly more than true width.
Diagrams	•Appropriate maps and sections (with scales) and tabulationsof intercepts should be included for any significant discoverybeing reported These should include, but not be limited to aplan view of drill hole collar locations and appropriatesectional views.	No exploration results have been reported in this release.
Balancedreporting	•Where comprehensive reporting of all Exploration Results isnot practicable, representative reporting of both low and highgrades and/or widths should be practiced to avoidmisleading reporting of Exploration Results.	Significant intercepts of new drill holes have not been reportedin this release.
Other substantiveexploration data	•Other exploration data, if meaningful and material, should bereported including (but not limited to): geologicalobservations; geophysical survey results; geochemicalsurvey results; bulk samples – size and method oftreatment; metallurgical test results; bulk density,groundwater, geotechnical and rock characteristics; potentialdeleterious or contaminating substances.	No geophysical and geochemical data or any additionalexploration information has been reported in this release,as they are not deemed relevant to the release.
Further work	•The nature and scale of planned further work (e.g. tests forlateral extensions or depth extensions or large-scale stepout drilling).•Diagrams clearly highlighting the areas of possibleextensions, including the main geological interpretations andfuture drilling areas, provided this information is notcommercially sensitive.	Further drilling is planned.

At 31 December 2023

Section 3 Estimation and Reporting of Mineral Resources

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Databaseintegrity	•Measures taken to ensure that data has not beencorrupted by, for example, transcription or keyingerrors, between its initial collection and its use forMineral Resource estimation purposes.•Data validation procedures used.	Data has been compiled into a relational SQLdatabase; the setup of this database precludes theloading of data which do not meet the requiredvalidation protocols. The data is managed usingDataShed© drill hole management software using SQLdatabase techniques. Validation checks are conductedusing SQL and DataShed© relational databasestandards. Data has also been checked againstoriginal hard copies for 100% of the data, and wherepossible, loaded from original data sources.
		Resolute completed the following basic validationchecks on the data supplied prior to resourceestimation:
		•Drill holes with overlapping sample intervals.•Sample intervals with no assay data or duplicaterecords.•Assay grade ranges.•Collar coordinate ranges.•Valid hole orientation data.
		There are no significant issues identified with the data.
Site visits	•Comment on any site visits undertaken by theCompetent Person and the outcome of those visits.•If no site visits have been undertaken indicate whythis is the case.	Mr Bruce Mowat, a fulltime employee of ResoluteMining Limited and a Member of the AustralasianInstitute of Mining and Metallurgy is the CompetentPerson who has visited this site on multiple occasions.All aspects of drilling, sampling and mining areconsidered by the Competent Persons to be of a highindustry standard.
Geologicalinterpretation	•Confidence in (or conversely, the uncertainty of) thegeological interpretation of the mineral deposit.•Nature of the data used and of any assumptionsmade.•The effect, if any, of alternative interpretations onMineral Resource estimation.•The use of geology in guiding and controllingMineral Resource estimation.•The factors affecting continuity both of grade andgeology.	The digital database used for the interpretationincluded logged intervals for the key stratigraphiczones of the Porphyry Zone. Detailed geological logswere available in hardcopy and digital and reviewedwhere necessary.A wireframe was used to constrain the estimation isbased on drill hole intercepts and geologicalboundaries. The wireframe has been constructed to a0.5g/t Au cut-off grade for shape consistency. Only onewireframe was constructed in the closely spaced drilledarea and the remaining mineralisation was in the widerspaced drilling area and an alternate estimationmethod was used.The confidence in the geological interpretation is amoderate level and is based on good quality drillingand ongoing drill hole logging. The main zone has
		been gc drilled and therefore is considered robust, thearea outside the gc drilling has a lower confidence givethe sparse drilling. There could be alternativeinterpretations in this area which is reflected in theclassification.The logging in the geological database of lithology andweathering were considered during the mineralisationdomain interpretations, and where available.
Dimensions	•The extent and variability of the Mineral Resourceexpressed as length (along strike or otherwise),plan width, and depth below surface to the upperand lower limits of the Mineral Resource.	The Porphyry Zone Mineral Resource area extendsover a strike length of 700 metres (from 1,164,600 mNto 1,165,300 mN) and includes the 175 metre verticalinterval from 345mRL to 170mRL. The overall planwidth of the mineralised lodes varies between a fewmetres to 20 metres in thickness and is 600 metreswide (from 810,265 mE to 810,865 mE).

Estimation andmodellingtechniques	•The nature and appropriateness of the estimationtechnique(s) applied and key assumptions,including treatment of extreme grade values,domaining, interpolation parameters and maximumdistance of extrapolation from data points. If acomputer assisted estimation method was choseninclude a description of computer software andparameters used.•The availability of check estimates, previousestimates and/or mine production records andwhether the Mineral Resource estimate takesappropriate account of such data.•The assumptions made regarding recovery of byproducts.•Estimation of deleterious elements or other nongrade variables of economic significance (e.g.sulphur for acid mine drainage characterization).•In the case of block model interpolation, the blocksize in relation to the average sample spacing andthe search employed.•In the case of block model interpolation, the blocksize in relation to the average sample spacing andthe search employed.•Any assumptions behind modelling of selectivemining units.•Any assumptions about correlation betweenvariables.•Description of how the geological interpretation wasused to control the resource estimates.•Discussion of basis for using or not using gradecutting or capping.•The process of validation, the checking processused, the comparison of model data to drill holedata, and use of reconciliation data if available.	Estimation was completed in Datamine Studio RMusing two estimation methods. Gold was estimationinto a three-dimensional block model by dynamicanisotropy using ordinary kriging (OK) into the maindomain (Domain 10). A hard boundary was usedbetween mineralisation domains. A soft boundary wasused between the oxide and transitional and a hardboundary between transitional and fresh within themain domain. To capture the complex low angledsurrounding mineralisation an unconstrained inversedistance cubed (ID3) estimation technique was used.The drill spacing at The Porphyry Zone is a nominal 25by 25 metres for the exploration holes for the majorityof the deposits and 50 by 50 metres around theperiphery. The main part of the deposit has been gcdrilled out to 12.5 by 10 metres. Parent blocks of 4mEby 10mN by 5mRl were used for the block model to tiein with the existing grade control model. Sub blockingdown to 1mE by 2.5mN by 1.25mRl was employed forresolution of the mineralisation boundaries as define bywireframesDrillhole sample data was flagged using domain codesgenerated from three-dimensional mineralisationdomains. The samples were composited to 1 metreintervals.Variogram orientations were largely controlled by thestrike of the mineralisation and downhole variography.The search ellipse for the background mineralisation isorientated striking towards the north and dipping 30otothe west.Kriging neighbourhood analysis was performed tooptimise the block size, sample numbers anddiscretisation levels with the goal of minimisingconditional bias in the gold grade estimates.Three search passes were used, with the first searchpass set to the range of the variogram for eachdomain. A minimum of eight and a maximum of 30samples were used. The search stayed the same forthe second pass but was increased by a factor of twofor the third and final pass. The minimum number ofsamples was reduced to 6 for the second pass andfour for the third pass.No deleterious elements were found in the ore.No selective mining units have been assumed.Top cuts were applied to reduce the variability of thedata and to remove the outliers.The estimated block model grades were visuallyvalidated against the input drillhole data andcomparisons were carried out against the drillhole dataand by northing and elevation slices. Globalcomparison between the input data and the blockgrades for each variable is considered acceptable(±10%).
Moisture	•Whether the tonnages are estimated on a dry basisor with natural moisture, and the method ofdetermination of the moisture content.	All tonnages have been estimated on a dry basis.
Cut-offparameters	•The basis of the adopted cut-off grade(s) or qualityparameters applied.	The cut-off grade of 1g/t for the stated open pit MineralResource estimate is determined from economicparameters that reflect geotechnical, mining andprocessing parameters and costs for an open pitmining operation.
Mining factorsor assumptions	•Assumptions made regarding possible miningmethods, minimum mining dimensions and internal(or, if applicable, external) mining dilution. It isalways necessary as part of the process ofdetermining reasonable prospects for eventualeconomic extraction to consider potential mining	The Resource models assume that a moderate level ofmining selectivity is achieved in open pit mining. It hasbeen assumed that high quality grade control will beapplied to ore/waste delineation processes using RCdrilling, or similar, at a nominal (and no greater)spacing of 10 metre by 12.5 metre and applying a

	methods, but the assumptions made regardingmining methods and parameters when estimatingMineral Resources may not always be rigorous.Where this is the case, this should be reported withan explanation of the basis of the miningassumptions made.	pattern sufficient to ensure adequate coverage of themineralisation zones.This is consistent with current mining practises atSyama.
Metallurgicalfactors orassumptions	•The basis for assumptions or predictions regardingmetallurgical amenability. It is always necessary aspart of the process of determining reasonableprospects for eventual economic extraction toconsider potential metallurgical methods, but theassumptions regarding metallurgical treatmentprocesses and parameters made when reportingMineral Resources may not always be rigorous.Where this is the case, this should be reported withan explanation of the basis of the metallurgicalassumptions made.	No metallurgical factors or assumptions have beenmade during the resource estimation process as thesewill be addressed during the conversion to OreReserves.
Environmentalfactors orassumptions	•Assumptions made regarding possible waste andprocess residue disposal options. It is alwaysnecessary as part of the process of determiningreasonable prospects for eventual economicextraction to consider the potential environmentalimpacts of the mining and processing operation.While at this stage the determination of potentialenvironmental impacts, particularly for a greenfields project, may not always be well advanced, thestatus of early consideration of these potentialenvironmental impacts should be reported. Wherethese aspects have not been considered this shouldbe reported with an explanation of theenvironmental assumptions made.	It is a requirement of Decree No.03-594/P-RM of 31December 2003 of Malian law that an Environmentaland Social Impact Study (Étude d'ImpactEnvironmental et Social – EIES) must be undertaken toupdate the potential environmental and social impactsof the mine's redevelopment. The EIES for the SyamaGold Mine (including Tabakoroni) was approved inNovember 2007 and an Environment Permit (07-0054/MEA – SG) was issued by the Ministry ofEnvironment and Sanitation on 22 November 2007.The Ministry of Environment conducts timely reviews ofthe Syama Gold Mine to ensure that the Companymaintains compliance with the EIES guidelines.At Syama and Tabakoroni, there are three keypractices for disposal of wastes and residues namely,stacking of waste rock from open pit mining; storage oftailings from mineral processes; and "tall-stackdispersion" of sulphur dioxide from the roasting of goldbearing concentrate. All waste disposal practices are inaccordance with the guidelines in the EIES.The Environmental and Social Impact Study – "Sociétédes Mines de Syama, Syama Gold Mine, Mali", dated2007 indicated there was minimal potential for acidmine drainage from waste rock due to the elevatedcarbonate content which buffers a potential acidgeneration. Resolute maintains a plan for progressiverehabilitation of waste rock landforms as part ofongoing mine development and waste rock dumping.The landform of tailings impoundments does not havea net acid generating potential. The largest volume isflotation tailings where the sulphide minerals havealready been removed from the host rock. Itsmineralogy includes carbonates which further bufferany acid-formation potential from sulphides that mayalso be present.Cyanide levels in the leached-calcine tailings aretypically less than 50ppm in the weak acid dissociableform. Groundwater away from the tailings landform isintercepted by trenches and sump pumps.Sulphur dioxide is generated from the roasting of goldconcentrate so that gold can be extracted and refined.Tall-Stack "dispersion" of the sulphur dioxide emissionis monitored continuously. Prevailing weather anddissipation of the sulphur dioxide is modelled daily topredict the need to pause the roasting process to meetthe air quality criteria set out in the Environmental &

Bulk density	•Whether assumed or determined. If assumed, thebasis for the assumptions. If determined, themethod used, whether wet or dry, the frequency ofthe measurements, the nature, size andrepresentativeness of the samples.•The bulk density for bulk material must have beenmeasured by methods that adequately account forvoid spaces (vugs, porosity, etc), moisture anddifferences between rock and alteration zoneswithin the deposit.•Discuss assumptions for bulk density estimatesused in the evaluation process of the differentmaterials.	No bulk density measurements have been taken at thePorphyry Zone.An average SG was applied to the model byweathering types based on similar deposits at Syama:•2.12 t/m3Oxide•Transitional 2.38 t/m3•2.72 t/m3Fresh
Classification	•The basis for the classification of the MineralResources into varying confidence categories.•Whether appropriate account has been taken of allrelevant factors (i.e. relative confidence in tonnage/grade estimations, reliability of input data,confidence in continuity of geology and metalvalues, quality, quantityand distribution of the data).•Whether the result appropriately reflects theCompetent Person's view of the deposit.	In general, the Inferred Mineral Resource classification isapplied to extensions of mineralised zones on the marginsof the deposit where drill spacing is more than 50m x 50mand the extents of mineralisation at depth. However, dueto the complexity of the surrounding mineralisation andthe low confidence in the geological interpretation inaddition to the estimation method being unconstrained.The competent person decided to classify the whole ofthe deposit to Inferred until more drilling can becarried out.The validation of the block model has confirmedsatisfactory correlation of the input data to the estimatedgrades and reproduction of data trends.The Mineral Resource estimates appropriately reflects theview of the Competent Person.
Audits orreviews	•The results of any audits or reviews of Mineral•Resource estimates.	There has been no external review of the MineralResource estimate.
Discussion ofrelativeaccuracy/confidence	•Where appropriate a statement of the relativeaccuracy and confidence level in the MineralResource estimate using an approach or proceduredeemed appropriate by the Competent Person. Forexample, the application of statistical orgeostatistical procedures to quantify the relativeaccuracy of the resource within stated confidencelimits, or, if such an approach is not deemedappropriate, a qualitative discussion of the factorsthat could affect the relative accuracy andconfidence of the estimate.•The statement should specify whether it relates toglobal or local estimates, and, if local, state therelevant tonnages, which should be relevant totechnical and economic evaluation. Documentationshould include assumptions made and theprocedures used.•These statements of relative accuracy andconfidence of the estimate should be comparedwith production data, where available.	The Mineral Resource estimate has been classifiedbased on the quality of the data collected, the densityof data, the confidence of the geological models andmineralisation models, and the grade estimationquality. This has been applied to a relative confidencebased on data density and zone confidence forresource classification. No relative statistical orgeostatistical confidence or risk measure has beengenerated or applied.Mine production data was used in the validationprocess and showed to be within 20% of the estimatedtonnes, grade and ounces within the mined area.

At 31 December 2023

Section 4 Estimation and Reporting of Ore Reserves

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Mineral Resourceestimate forconversion to OreReserves	•Description of the Mineral Resource estimateused as a basis for the conversion to an OreReserve.•Clear statement as to whether the MineralResources are reported additional to, orinclusive of, the Ore Reserve.	Resources at Porphyry Zone are reported above a1g/t cut-off. This was calculated as a marginal cutoff utilising open pit mining methods. Materialbelow this cut-off is not included in the MineralResource.Ore Reserves are the material reported as a subset of the resource, that which can be extractedfrom the mine and processed with an economicallyacceptable outcome.Mineral Resources are reported inclusive of OreReserves.
Site visits	•Comment on any site visits undertaken bythe Competent Person and the outcome ofthose visits.•If no site visits have been undertakenindicate why this is the case.	Mr Scott Atkinson is a member of the AustralasianInstitute of Mining and Metallurgy and is aCompetent Person who has visited the site wherethe project is located.
Study status	•The type and level of study undertaken toenable Mineral Resources to be converted toOre Reserves.•The Code requires that a study to at leastPre-Feasibility Study level has beenundertaken to convert Mineral Resources toOre Reserves. Such studies will have beencarried out and will have determined a mineplan that is technically achievable andeconomically viable, and that materialModifying Factors have been considered.	The Porphyry Zone deposit is adjacent to theTabakoroni mine which had a Feasibility study wascompleted in 2009 with updates in 2012 and 2016.Tabakoroni has been in continuous miningoperation since August 2018. During this time theperformance the project has shown a positivereconciliation between mineral resources and goldproduction and delivered positive cashflows.
Cut-off parameters	•The basis of the cut-off grade(s) or qualityparameters applied.	A cut-off of 1.1g/t has been applied for PorphyryZone
Mining factors orassumptions	•The method and assumptions used asreported in the Pre-Feasibility or FeasibilityStudy to convert the Mineral Resource to anOre Reserve (i.e. either by application ofappropriate factors by optimization or bypreliminary or detailed design).•The choice, nature and appropriateness ofthe selected mining method(s) and othermining parameters including associateddesign issues such as pre-strip, access, etc.•The assumptions made regardinggeotechnical parameters (e.g. pit slopes,stope sizes, etc.), grade control and preproduction drilling.•The major assumptions made and MineralResource model used for pit and stopeoptimization (if appropriate).•The mining dilution factors used.•The mining recovery factors used.•Any minimum mining widths used.•The manner in which Inferred MineralResources are utilized in mining studies andthe sensitivity of the outcome to theirinclusion.•The infrastructure requirements of theselected mining methods.	The reported Ore Reserve estimate for PorphyryZone is based on pit optimisations conductedusing the Lerchs-Grossman (LG) algorithm of theWhittle software to calculate the optimal pit atspecific input parameters and pit designs. Costsare based on existing contract mining and haulagerates and site costs which are understood with ahigh degree of accuracy.Mining is undertaken by conventional open pitmethods of drill and blast, followed by load andhaul, utilising mining equipment comprising 120t –230t diesel hydraulic excavators and 90t offhighway dump trucks.Detailed pit design work was completed based onpit optimisations using Whittle Four-X optimisationsoftware. Only Indicated Resources were used inthe pit optimisation.Pit slope parameters for Porphyry Zone werebased on a geotechnical assessment that includeda total of seven specific geotechnical holes.Overall slopes angles are approximately 40°. Allother pits adopt similar overall slope angles.Grade control consists of RC drilling, based on a5.0mE x 12.5mN drill patternThe MIK resource estimation technique used forthe Porphyry Zone implicitly incorporates internalmining dilution at the scale of the assessed SMUso no additional modifying factor was applied.

Metallurgical factorsor assumptions	•The metallurgical process proposed and theappropriateness of that process to the styleof mineralization.•Whether the metallurgical process is welltested technology or novel in nature.•The nature, amount and representativenessof metallurgical test work undertaken, thenature of the metallurgical domaining appliedand the corresponding metallurgical recoveryfactors applied.•Any assumptions or allowances made fordeleterious elements.•The existence of any bulk sample or pilotscale test work and the degree to which suchsamples are considered representative of theore body as a whole.•For minerals that are defined by aspecification, has the ore reserve estimationbeen based on the appropriate mineralogy tomeet the specifications?	Processing is by conventional primary crushingfollowed by single stage SAG milling. Goldrecovery is by means of a gravity recovery circuitand carbon in leach process.Processing recoveries used are 90%, 80% and65% for Oxide, Transitional and fresh materialrespectivelyMine is operational with good reconciliationbetween predicted recoveries and actualAllowances are made in the recovery estimates fortransitional and fresh ore as the Au recovery isimpacted by some of the gold being hosted inrefractory sulphide and preg-robbing carbon
Environmental	•The status of studies of potentialenvironmental impacts of the mining andprocessing operation. Details of waste rockcharacterization and the consideration ofpotential sites, status of design optionsconsidered and, where applicable, the statusof approvals for process residue storage andwaste dumps should be reported.	An active waste rock characterisation program hasbeen put in place for Porphyry Zone.Ore Reserves from Porphyry Zone will beprocessed at Syama and tailings storage will beimpounded in existing footprint area approved inthe Environmental and Social Impact Study.Progressive raising of the tailings occurs regularlywith the 9th lift completed in 2019. Routineprogress on the monitoring is reported togovernment and at stakeholder meetings inconcert with routine inspections by governmentrepresentatives.
Infrastructure	•The existence of appropriate infrastructure:availability of land for plant development,power, water, transportation (particularly forbulk commodities), labour, accommodation;or the ease with which the infrastructure canbe provided, or accessed.	All required infrastructure is already in place for thePorphyry Zone deposit which is within the currentthe Tabakoroni mine footprint
Costs	•The derivation of, or assumptions made,regarding projected capital costs in the study.•The methodology used to estimate operatingcosts.•Allowances made for the content ofdeleterious elements.•The derivation of assumptions made of metalor commodity price(s), for the principalminerals and co- products.•The source of exchange rates used in thestudy.•Derivation of transportation charges.•The basis for forecasting or source oftreatment and refining charges, penalties forfailure to meet specification, etc.•The allowances made for royalties payable,both Government and private.	The Porphyry Zone deposit is adjacent to theTabakoroni mine, with established miningoperations. Ore is trucked to Syama where it isprocessed at Syama's oxide circuit. General andadministration costs are shared between the oxideplant and the sulphide plant which treats theSyama UG orebody. The Porphyry Zone depositwill be mined contemporaneously with theTabakoroni pits using the same mining andhaulage fleet. The mining and haulage rates arebased on known contract rates.The oxide plant produces gold doré (withoutproblematic deleterious elements) that issubsequently refined offsite. Refining costs are notmaterial.Exchange rates used for planning purposes arefrom consensus forecasts provided by externalcorporate advisers.Ad valorem Government royalties of 6% arepayable ongold production.

Revenue factors	•The derivation of, or assumptions maderegardingrevenue factors including head grade, metalorcommodity price(s) exchange rates,transportation and treatment charges,penalties, net smelter returns, etc.•The derivation of assumptions made of metalor commodity price(s), for the principalmetals, mineralsand co-products.	Ore Reserves.	A gold price of US$1,500/oz formed the basis of the
Market assessment	•The demand, supply and stock situation forthe particular commodity, consumption trendsand factors likely to affect supply anddemand into the future.•A customer and competitor analysis alongwith the identification of likely marketwindows for the product.•Price and volume forecasts and the basis forthese forecasts.••or industrial minerals the customerspecification, testing and acceptancerequirements prior to a supply contract.	price being around US$1,850/oz.the Ore Reserve calculations.	The market for gold is robust with prevailing goldSupply and demand are not considered material to
Economic	•The inputs to the economic analysis toproduce the net present value (NPV) in thestudy, the source and confidence of theseeconomic inputs including estimated inflation,discount rate, etc.•NPV ranges and sensitivity to variations inthe significant assumptions and inputs.	and NPV forecasts.	The financial evaluation undertaken as part of theevaluation of these open pits indicated a positive netpresent value (NPV) at a 5% discount rate andoperating results to date have exceeded production
Social	•The status of agreements with keystakeholders and matters leading to sociallicense to operate.	continue to remain a focus.	The Porphyry Zone falls under the SOMIFIexploitation permit and is managed by SOMISY SAunder Management and Toll Treatment agreementslodged with the Government of Mali.It is the intention to encourage economicdevelopment within the local community. During theoperation of Tabakoroni and its satellite deposits thefocus has been on improving farming and healthcare plus providing access to water; this willThe Syama Mine Community ConsultativeCommittee, which includes representation fromTabakoroni and the villages adjacent to the SyamaSatellites, was established in February 2001 withrepresentatives from local villages, the MalianGovernment and SOMISY. Since April 2004 theCommittee has met regularly as a communicationforum and to address community issues and assistwith community project proposals; it continues tomeet on the first or second Tuesday of each month.
Other	•To the extent relevant, the impact of the following onthe project and/or on the estimation and classificationof theOre Reserves:•Any identified material naturally occurring risks.•The status of material legal agreements andmarketing arrangements.•The status of governmental agreements andapprovals critical to the viability of the project, such as		All current government agreements andapprovals are in good standing and noanticipated changes are expected.

	mineral tenement status, and government andstatutory approvals. There must be reasonablegrounds to expect that all necessary Governmentapprovals will be received within the timeframesanticipated in the Pre-Feasibility or Feasibility study.Highlight and discuss the materiality of anyunresolved matter that is dependent on a third partyon which extraction of the reserve is contingent.
Classification	•The basis for the classification of the Ore Reservesinto varying confidence categories.•Whether the result appropriately reflects theCompetent Person's view of the deposit.•The proportion of Probable Ore Reserves that havebeen derived from Measured Mineral Resources (ifany).	Proved and Probable Ore Reserves weredeclared based on the Measured andIndicated Mineral Resources.The Ore Reserve estimate appropriatelyreflects the Competent Person's view of thedeposit.
Audits or reviews	•The results of any audits or reviews of Ore Reserveestimates.
Discussion ofrelative accuracy/confidence	•Where appropriate a statement of the relativeaccuracy and confidence level in the Ore Reserveestimate using an approach or procedure deemedappropriate by the Competent Person. For example,the application of statistical or geostatisticalprocedures to quantify the relative accuracy of thereserve within stated confidence limits, or, if such anapproach is not deemed appropriate, a qualitativediscussion of the factors which could affect therelative accuracy and confidence of the estimate.•The statement should specify whether it relates toglobal or local estimates, and, if local, state therelevant tonnages, which should be relevant totechnical and economic evaluation. Documentationshould include assumptions made and the proceduresused.•Accuracy and confidence discussions should extendto specific discussions of any applied ModifyingFactors that may have a material impact on OreReserve viability, or for which there are remainingareas of uncertainty at the current study stage.•It is recognized that this may not be possible orappropriate in all circumstances. These statements ofrelative accuracy and confidence of the estimateshould be compared with production data, whereavailable.	The relative accuracy and confidence of theOre Reserve estimate is inherent in the OreReserve Classification.

At 31 December 2023

Mako

Section 1 Sampling Techniques and Data

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Samplingtechniques	•Nature and quality of sampling (e.g. cut channels,random chips, or specific specialised industrystandard measurement tools appropriate to theminerals under investigation, such as down holegamma sondes, or handheld XRF instruments,etc.). These examples should not be taken aslimiting the broad meaning of sampling.•Include reference to measures taken to ensuresample representivity and the appropriatecalibration of any measurement tools or systemsused.•Aspects of the determination of mineralisation thatare Material to the Public Report.•In cases where 'industry standard' work has beendone this would be relatively simple (e.g. 'reversecirculation drilling was used to obtain 1 m samplesfrom which 3 kg was pulverised to produce a 30 gcharge for fire assay'). In other cases moreexplanation may be required, such as where thereis coarse gold that has inherent sampling problems.Unusual commodities or mineralisation types (e.g.submarine nodules) may warrant disclosure ofdetailed information.	Sampling has been by diamond drill coring and reversecirculation chip techniques with minor trench and surfacesampling.Diamond core is geologically logged and sampled togeological contacts with nominal sample lengths between0.3m and 4.5m (most commonly 1.5m). Core selected forassay is systematically cut lengthwise into half core bydiamond blade rock saw, numbered and bagged beforedispatch to the laboratory for analysis.All core is photographed, wet and dry.Reverse circulation chips are geologically logged andsampled on regular lengths of 1m. Chip material selected forassay is systematically divided to a 1/8 proportion using arotary splitter attached to the cyclone sample recoverysystem, numbered and bagged before dispatch to thelaboratory for analysis.
Drilling techniques	•Drill type (e.g. core, reverse circulation, open-holehammer, rotary air blast, auger, Bangka, sonic, etc.)and details (e.g. core diameter, triple or standardtube, depth of diamond tails, face-sampling bit orother type, whether core is oriented and if so, bywhat method, etc.).	Diamond core drilling with standard inner tubes. NTWdiameter (57.1 mm) to target depth where possible withsome smaller NQ2 intervals as tails. Core is marked andoriented.Reverse Circulation drilling with 4" or 4.5" hammer and 4"rod string to target depth.
Drill samplerecovery	•Method of recording and assessing core and chipsample recoveries and results assessed.•Measures taken to maximise sample recovery andensure representative nature of the samples.•Whether a relationship exists between samplerecovery and grade and whether sample bias mayhave occurred due to preferential loss/gain offine/coarse material.	Diamond core recoveries are measured in the core traysand recorded as recovered metres and recovered % as partof the geological logging process.Diamond core drilling prior to the latest deep diamonddrilling had just over 96% of core sample intervals measured(28,701 measurements totalling 46,200m of core) with corerecoveries of 75% or better. Approximately 85% of coresample intervals measured had core recoveries of 100%.The percentage core recovery data was examinedgraphically against the gold grades and no relationship isevident between core loss and gold grade in the regions oflow core recovery.In 2016 % core recovery data was examined graphicallyagainst the gold grades and no relationship is evidentbetween core loss and gold grade in the regions of lowsample recovery.RC recoveries are monitored by chip sample weightrecording. Of 43 RC holes reviewed in 2016 all recordedweight/m in consolidated rock material ranged from 19 to38kg/m (mode=25; mean=25; median=25kg/m) whichequates to rock densities between 2 and 3gcm3.
Logging	•Whether core and chip samples have beengeologically and geotechnically logged to a level ofdetail to support appropriate Mineral Resourceestimation, mining studies and metallurgical studies.•Whether logging is qualitative or quantitative innature. Core (or costean, channel, etc.)	Diamond core has been geologically and geotechnicallylogged to a level of detail to support appropriateclassification and reporting of a Mineral Resource.

photography.•The total length and percentage of the relevantintersections logged.	Reverse circulation chip samples have been geologicallylogged to a level of detail to support appropriateclassification and reporting of a Mineral Resource.Total length of DD logged data is 69,728.01m from total70,527.01m drilled.
•If core, whether cut or sawn and whether quarter,half or all core taken.•If non-core, whether riffled, tube sampled, rotarysplit, etc. and whether sampled wet or dry.•For all sample types, the nature, quality andappropriateness of the sample preparationtechnique.•Quality control procedures adopted for all subsampling stages to maximise representivity ofsamples.•Measures taken to ensure that the sampling isrepresentative of the in situ material collected,including for instance results for fieldduplicate/second-half sampling.•Whether sample sizes are appropriate to the grainsize of the material being sampled.	Core is systematically cut lengthwise into half core with adiamond saw.In the initial drill phases between 2kg and 6kg of broken coresample was dispatched by contracted truck transport to SGSMali (Phase 1- 90 holes) or ALS Mali (Phases 2 and 3 – 88holes) for sample preparation.More recent samples (Phase 3 to 5 and the 2018 deepdiamond holes) have undergone sample preparation at thesite sample prep laboratory.The 2018 deep diamond programme (PWD362 to 420) wasprepared onsite with assay pulps analysed by ALS Loughrea(Ireland).RC samples representing a 1/8 split are taken directly fromthe rig mounted cyclone by rotary splitter, sample weight isrecorded, sample is bagged in pre numbered plastic andsample tickets are inserted and bag is sealed for transport topreparation facility.Generally, one of each of the two control samples (blank orCRM standard) is inserted into the sample stream everytenth sample. Over the 2018 deep diamond programme Atotal of 4,582 samples have had 249 CRM and 260 blanksinserted, sufficient as per industry standards. An industrystandard, documented process of sample mark-up, coresplitting, bagging and ticketing and recording is in place atthe Mako site. The laboratories sample preparation followeda standard documented process flow with whole samplecrushing (better than 70% passing 2mm) followed by a 1kgriffle split for pulverisation to 75 micron (better than 85%pass).Master pulps of 250g were split and placed in airtight, sealedbags and sent by courier to the assaying laboratory foranalysis.For the majority of the Phase 1 drilling the mineralisedinterval sample preparation done at SGS Mali has beenrepeated and re-assayed. As a result the nature, quality andappropriateness of the sample preparation technique are toindustry standard.Sample size of 2-6kg is appropriate for the grain size ofmaterial.
•The nature, quality and appropriateness of theassaying and laboratory procedures used andwhether the technique is considered partial or total.•For geophysical tools, spectrometers, handheldXRF instruments, etc., the parameters used indetermining the analysis including instrument makeand model, reading times, calibrations factorsapplied and their derivation, etc.•Nature of quality control procedures adopted (e.g.standards, blanks, duplicates, external laboratorychecks) and whether acceptable levels of accuracy(i.e. lack of bias) and precision have beenestablished.	Au assays are determined by fire assay with AAS finish.Laboratory and assay procedures are appropriate forMineral Resource estimation.QAQC consisted of standards, blanks and laboratoryduplicates (both coarse and pulp). The QAQC sampleresults showed acceptable levels of accuracy and precision.The assay data is considered to be suitable for MineralResource estimation.
•The verification of significant intersections by eitherindependent or alternative company personnel.•The use of twinned holes.•Documentation of primary data, data entryprocedures, data verification, data storage (physicaland electronic) protocols.•Discuss any adjustment to assay data.	All aspects of the core sampling, assay procedures andQA/QC program have been reviewed and were judged to beof industry standard and suitable for use in the estimation ofMineral Resources.Independent sampling has been undertaken and the resultsclosely match the original data.

		Drill hole assay result data has been checked against theoriginal hardcopy laboratory assay reports for arepresentative number of holes.
		Site based checks of the raw assay data have beenundertaken to verify grade intersections were consistent witha visual inspection of mineralisation in the core.
		Below detection limit values (negatives) have been replacedby background values.
		Un-sampled intervals have been retained as un-sampled(null or blank). The majority of these intervals occur withinthe waste domain and have no material impact on theestimate.
Location of datapoints	•Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches,mine workings and other locations used in Mineral	Drill holes have been surveyed by a contract surveyor (P.C.Drysdale Land and Engineering Surveyor) using a LeicaGS12 GNSS (GPS) survey system.
	Resource estimation.•Specification of the grid system used.•Quality and adequacy of topographic control.	Down hole surveys were undertaken by the drillingcontractor using a Reflex Ex-Trac tool with a reading takenapprox. every 50m down the hole.
		Cube consulting made independent verification of the collarsurveys of three diamond core in progress holes (PWD409,408 and 407) which were all found to be within anacceptable tolerance of the planned and reportedcoordinates. Cube also verified the coordinated positions oflaid out grade control planned holes on the pit floor.
		Grid system is based on the UTM28N grid on the WGS84ellipsoid. Survey heights are based on PRS097 (withindependent checks on AusPos) and are orthometric (i.e.msl).
		A topographic surface was provided based on a one metreresolution satellite DTM surface of Central Mako, includingthe Petowal prospect area, and a number of smallerresolution (10m x 10m) data files derived from the one metresource data. The smaller resolution data (10m x 10m) hasbeen used for all validation and estimation purposes.
Data spacing anddistribution	•Data spacing for reporting of Exploration Results.•Whether the data spacing and distribution issufficient to establish the degree of geological andgrade continuity appropriate for the MineralResource and Ore Reserve estimation procedure(s)and classifications applied.•Whether sample compositing has been applied.	Data spacing is variable being in the range of 80m x 40m to20m x 20m. Additionally, a significant area of grade controldrilling at 10m x 10m has been completed defining a volumeof approximately four million BCM. This spacing is adequateto determine the geological and grade continuity forreporting of Measured, Indicated and Inferred MineralResources.Drill samples were composited to 3m for use in the estimate.
Orientation of datain relation togeologicalstructure	•Whether the orientation of sampling achievesunbiased sampling of possible structures and theextent to which this is known, considering thedeposit type.•If the relationship between the drilling orientationand the orientation of key mineralised structures isconsidered to have introduced a sampling bias, thisshould be assessed and reported if material.	The drill hole orientation was designed to intersect themineralisation orthogonal to dip and strike of the majormineralisation bodies. The majority of drill hole azimuthswere between 140° and 160⁰ with dips varying from -50 to -80⁰ below horizontal. For a small number of holes, differentorientations were selected to target different portions of themineralisation depending on localised mineralised structuresor features.
		The preliminary RC grade control programme drilling wasall vertical (azimuth of 0⁰ and dip of -90⁰). Mine grade controlduring 2017 and 2018 was primarily drilled on azimuth 140⁰dipping -60⁰.
		Drilling primarily targeted the FEL unit which contained themost significant mineralisation and dipped at about 20-30⁰to the northwest near surface, steepening to about 45⁰ dip atdepth. The drilling orientation is adequate for a non-biasedassessment of the orebody with respect to interpretedstructures and interpreted controls on mineralisation.
Sample security	•The measures taken to ensure sample security.	Labelling and submission of samples complies with industrystandard.

At 31 December 2023

Audits or reviews • The results of any audits or reviews of sampling techniques and data.

An independent audit of the sample preparation laboratory has been undertaken in 2018 (Fis, 2018) and the review undertaken at the project by Cube in August 2018 and both found no material issues with the sampling methods or data.

Section 2 Reporting of Exploration Results

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Mineral tenementand land tenurestatus	•Type, reference name/number, location and ownershipincluding agreements or material issues with third partiessuch as joint ventures, partnerships, overriding royalties,native title interests, historical sites, wilderness or nationalpark and environmental settings.•The security of the tenure held at the time of reporting alongwith any known impediments to obtaining a licence tooperate in the area.	To date no exploration results have been reported on a grantedexploration permit, owned 100% by Petowal Mining CompanySA (Petowal).The permit is in good standing.
Exploration doneby other parties	•Acknowledgment and appraisal of exploration by otherparties.	Exploration has been performed by Mako Exploration CompanySARL ("MEC"), 100% owned by TORO.
Geology	•Deposit type, geological setting and style of mineralisation.	It is currently interpreted that the northeast striking structurecontrolled the flow of the gold bearing hydrothermal fluids, with thepreferential chemistry/rheology of the felsic volcanic horizon actingas a favourable horizon for silicification and the deposition of thegold-pyrite mineral assemblage. Intensity of gold mineralisationappears to correlate with the intensity of pyrite development andexhibits good lateral and vertical continuity through the mineralisedzone.Mineralisation has a relatively simple geometry comprising a zonethat varies from 30 to 60m in width, along the 1,700m strike lengthdrilled to date. The zone dips approximately 20-30⁰ to the northwestnear surface, steepening to approximately 45⁰ dipat depth.
Drill holeInformation	•A summary of all information material to the understandingof the exploration results including a tabulation of thefollowing information for all Material drill holes:oeasting and northing of the drill hole collaroelevation or RL (Reduced Level – elevation above sealevel in metres) of the drill hole collarodip and azimuth of the holeodown hole length and interception depthoWhole length.•If the exclusion of this information is justified on the basisthat the information is not Material and this exclusion doesnot detract from the understanding of the report, theCompetent Person should clearly explain why this isthe case.	Easting, Northing and RL of the drill hole collars are based on theUTM28N grid on the WGS84 ellipsoid. Survey heights are based onPRS097 (with independent checks on AusPos) and are orthometric(i.e. msl).The MRE has used drill hole collar RL derived from thetopographical surface.Dip is the inclination of the hole from the horizontal. For example, avertically down drilled hole from the surface is -90°. Azimuth isreported in degrees as the grid direction toward which the hole isdrilled.Down hole length of the hole is the distance from the surface to theend of the hole, as measured along the drill trace. Intersection depthis the distance down the hole as measured along the drill trace.Intersection width is the downhole distance of an intersection asmeasured along the drill trace.Drill hole length is the distance from the surface to the end of thehole, as measured along the drill trace.
Data aggregationmethods	•In reporting Exploration Results, weighting averagingtechniques, maximum and/or minimum grade truncations(e.g. cutting of high grades) and cut-off grades are usuallyMaterial and should be stated.•Where aggregate intercepts incorporate short lengths ofhigh grade results and longer lengths of low grade results,the procedure used for such aggregation should be statedand some typical examples of such aggregations should beshown in detail.•The assumptions used for any reporting of metal equivalentvalues should be clearly stated.	Gold assay intercepts were composited to 3m length down thehole, using length weighting, in order to provide a uniformsample support size for grade estimation.High grade cuts have been applied to gold grade composites,but only for use in producing check estimates. The primary,reported estimates were based on a Uniform Conditioningapproach which used cut grade values.The assay intervals are reported as down hole length as thetrue width variable is not known.Gold assays are rounded to two decimal places.No metal equivalent reporting is used or applied.
Relationshipbetween	•These relationships are particularly important in thereporting of Exploration Results.	The intersection width is measured down the hole trace andmay not be the true width.

mineralisationwidths andintercept lengths	•If the geometry of the mineralisation with respect to the drillhole angle is known, its nature should be reported.•If it is not known and only the down hole lengths arereported, there should be a clear statement to this effect(e.g. 'down hole length, true width not known').	All drill results are downhole intervals only due to the variableorientation of the mineralisation.
Diagrams	•Appropriate maps and sections (with scales) and tabulationsof intercepts should be included for any significant discoverybeing reported These should include, but not be limited to aplan view of drill hole collar locations and appropriatesectional views.	A plan view is contained within this document. New crosssectional interpretations are included.
Balancedreporting	•Where comprehensive reporting of all Exploration Results isnot practicable, representative reporting of both low and highgrades and/or widths should be practiced to avoidmisleading reporting of Exploration Results.	Diamond and RC drill holes forming the basis of the MineralResource estimate have been reported previously as part of the2018 MRE. Additional drilling has informed the 2018 update.
Othersubstantiveexploration data	•Other exploration data, if meaningful and material, should bereported including (but not limited to): geologicalobservations; geophysical survey results; geochemicalsurvey results; bulk samples – size and method oftreatment; metallurgical test results; bulk density,groundwater, geotechnical and rock characteristics; potentialdeleterious or contaminating substances.	No other exploration data is considered meaningful and materialto this document.
Further work	•The nature and scale of planned further work (e.g. tests forlateral extensions or depth extensions or large-scale stepout drilling).•Diagrams clearly highlighting the areas of possibleextensions, including the main geological interpretations andfuture drilling areas, provided this information is notcommercially sensitive.	Future exploration may involve the drilling of more drill holes,both diamond core and reverse circulation, to further extend themineralised zones and to collect additional detailed data onknown mineralized zones. Geophysical exploration is alsoplanned as part of the future exploration of the permit.

At 31 December 2023

Section 3 Estimation and Reporting of Mineral Resources

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Databaseintegrity	•Measures taken to ensure that data has not beencorrupted by, for example, transcription or keyingerrors, between its initial collection and its use forMineral Resource estimation purposes.•Data validation procedures used.	Database is maintained by PMC who compile andvalidate all data files on the project.Cube completed validation checks on the databaseincluding checks for overlapping sample intervals, checkson minimum and maximum assays, depths, azimuths,dips and co-ordinates for consistency. No material errorswere identified. Cube undertook site based checks of theraw assay data to verify that grade intersections wereconsistent with a visual inspection of mineralisation in thecore.A number of drill hole collar positions were also verified inthe field.
Site visits	•Comment on any site visits undertaken by theCompetent Person and the outcome of those visits.•If no site visits have been undertaken indicate whythisis the case.	The competent person has visited site on multipleoccasions.
Geologicalinterpretation	•Confidence in (or conversely, the uncertainty of) thegeological interpretation of the mineral deposit.•Nature of the data used and of any assumptionsmade.•The effect, if any, of alternative interpretations onMineral Resource estimation.•The use of geology in guiding and controlling MineralResource estimation.•The factors affecting continuity both of grade andgeology.	The geological confidence is considered to be moderateto high.The mineralised volume at Petowal has been based on adrill section interpretation of mineralisation defined by alower limit gold grade of 0.2 g/t Au, along with theobserved close association between mineralisation andthe felsic lithological unit. The overall shape and trend ofthe mineralisation was guided by the form of the felsicunit and its contacts with the surrounding basalt. Fourmineralisation domains, the first contained within thefelsic unit, the second and third in the adjacent footwallbasalt and the fourth in the hanging wall basalt unit, weredefined (Domains 100 200 300 400, respectively). Aseparate Domain (500) was created based onmineralisation 450m northwest of the Mako deposit. Anoverall envelope, called Domain 1 encapsulating all thematerial not contained within Domains 100, 200, 300,400 and 500 out to the limit of drill coverage, was alsocreated. The resulting volumes encapsulate the completemineralised distribution and produce a model thatreduces the risk of conditional bias that could beintroduced where the constraining interpretation and dataselection is based on a significantly higher grade than thenatural geological grade cut-off.The factors affecting continuity both of grade and geologyare most likely to be associated with structural controlsand local complexity, the knowledge of which is limitedwith the current spacing of information. The broadapproach to the mineralisation modelling is an attempt tomodel an unbiased interpretation.
Dimensions	•The extent and variability of the Mineral Resourceexpressed as length (along strike or otherwise), planwidth, and depth below surface to the upper andlower limits of the Mineral Resource.	The gold mineralisation identified to date varies from 30mto 60m in width, along the 1,700m strike length drilled todate. The zone dips approximately 20-30⁰ to thenorthwest near surface, steepening to approximately 45⁰dip at depth.
Estimation andmodellingtechniques	•The nature and appropriateness of the estimationtechnique(s) applied and key assumptions, includingtreatment of extreme grade values, domaining,interpolation parameters and maximum distance ofextrapolation from data points. If a computer assisted	Three metre downhole composite gold grade data wereinterpolated into 20mE x 20mN x 5mRL sized panelsusing Ordinary Kriging (OK).The minimum number of composites was set at 8 and themaximum number of composites was set at either 16(Domain 100), 26 (Domain 200) or 24 (Domains 300, 400

	estimation method was chosen include a descriptionof computer software and parameters used.	and 4000).
	•The availability of check estimates, previousestimates and/or mine production records andwhether the Mineral Resource estimate takes	The maximum search ellipse radius was set at either180m (Domain 100), 160 (Domain 200), 120m (Domain300), 200m (Domain 400) or 300m (Domain 4000). Theorientation of the variogram model and search ellipse wasdynamically set according to the shape of the felsichanging wall and footwall, as well the trend of high grademineralisation within the felsic unit.
	appropriate account of such data.•The assumptions made regarding recovery of byproducts.•Estimation of deleterious elements or other non-gradevariables of economic significance (e.g. sulphur foracid mine drainage characterization).	Change of Support (CoS) calculations were conducted,conditioned to the panel grade estimates, for selectivityon 5mE x 5mN x 2.5mRL SMU-sized blocks in order toproduce a recoverable resource estimate. The Gaussianbased Uniform Conditioning approach was applied to the
	•In the case of block model interpolation, the blocksize in relation to the average sample spacing andthe search employed.•In the case of block model interpolation, the blocksize in relation to the average sample spacing and	OK check grade estimates. An information effectcorrection was applied during the CoS calculations, toaccount for a future theoretical grade control drillconfiguration of 10mE x 10mN x 1mRL. The CoS processyields a set of array variables, stored in the panel blockmodel, detailing the estimates for tonnage, grade andmetal above a range of grade cut-offs.
	the search employed.•Any assumptions behind modelling of selectivemining units.•Any assumptions about correlation betweenvariables.	A process of localisation was completed, by which theoutput of the CoS is mapped into single grade estimateper 5mE x 5mN x 2.5mRL block in an SMU block model,which comprises the final product of the gradeestimation.
	•Description of how the geological interpretation wasused to control the resource estimates.•Discussion of basis for using or not using gradecutting or capping.•The process of validation, the checking process used,the comparison of model data to drill hole data, anduse of reconciliation data if available.	Domain 500 was estimated using ID2 methodology. Dueto the limited number of samples within the domain arobust variogram could not be produced. Two passeswere used with second pass having double the initialsearch radii of 45m.
		Surpac Mining software 6.9 and Isatis were used forestimation.
		No by-product recoveries were considered.Estimations of density were also made with this Mineral
		Resource estimation.
		Block model validation was undertaken globally bycomparing the mean LUC block grade estimates to themean of the informing composite grades on a domain bydomain basis. The LUC estimates were also compared tothe mean grade of a check ID2 estimation.
Moisture	•Whether the tonnages are estimated on a dry basis orwith natural moisture, and the method ofdetermination of the moisture content.	Moisture was not considered in the density assignment.
Cut-offparameters	•The basis of the adopted cut-off grade(s) or qualityparameters applied.	A nominal lower cut-off grade of 0.2g/t Au was used todefine the mineralised domains to encompass thecomplete mineralised distribution and produce a modelthat reduces the risk of conditional bias that could beintroduced where the constraining interpretation and dataselection is based on a significantly higher grade than thenatural geological gradecut-off.
		The cut-off grade for reporting (above 0.5g/t Au) wasused in line with the previous resource reporting and isbased on the results of Whittle optimisation shells usingcost and recovery data sourced from the operation of theopen pit mine by PMC during 2017-18.
		A Whittle optimisation shell using these operational costsand a gold price of US$2,000/ounce has been used tolimit the reported MRE to that with reasonableexpectations of economic exploitation.
Mining factors orassumptions	•Assumptions made regarding possible miningmethods, minimum mining dimensions and internal	The shallow occurrence of the mineralisation indicates

	(or, if applicable, external) mining dilution.	that open pit mining is appropriate for Petowal in line withother deposits in the area.
	It is always necessary as part of the process ofdetermining reasonable prospects for eventualeconomic extraction to consider potential miningmethods, but the assumptions made regarding miningmethods and parameters when estimating MineralResources may not always be rigorous. Where this isthe case, this should be reported with an explanationof the basis of the mining assumptions made.	The estimation methodology used results in an amount ofedge dilution being incorporated into the blocks of themodel. No account of mining loss has been incorporated.
Metallurgicalfactors orassumptions	•The basis for assumptions or predictions regardingmetallurgical amenability. It is always necessary aspart of the process of determining reasonableprospects for eventual economic extraction toconsider potential metallurgical methods, but theassumptions regarding metallurgical treatmentprocesses and parameters made when reportingMineral Resources may not always be rigorous.Where this is the case, this should be reported withan explanation of the basis of the metallurgicalassumptions made.	No specific assumptions were made regardingmetallurgical factors for this estimate.Metallurgical test work on the mineralisation commencedin 2012 and is ongoing.
Environmentalfactors orassumptions	•Assumptions made regarding possible waste andprocess residue disposal options. It is alwaysnecessary as part of the process of determiningreasonable prospects for eventual economicextraction to consider the potential environmentalimpacts of the mining and processing operation.While at this stage the determination of potentialenvironmental impacts, particularly for a green fieldsproject, may not always be well advanced, the statusof early consideration of these potentialenvironmental impacts should be reported. Wherethese aspects have not been considered this shouldbe reported with an explanation of the environmentalassumptions made.	No assumptions were made regarding environmentalrestrictions.
Bulk density	•Whether assumed or determined. If assumed, thebasis for the assumptions. If determined, the methodused, whether wet or dry, the frequency of themeasurements, the nature, size andrepresentativeness of the samples.•The bulk density for bulk material must have beenmeasured by methods that adequately account forvoid spaces (vugs, porosity, etc), moisture anddifferences between rock and alteration zones withinthe deposit.•Discuss assumptions for bulk density estimates usedin the evaluation process of the different materials.	Specific gravity values for the Petowal Prospect havebeen measured based on the Archimedean Principleusing the immersion method for individual core samples.A total of 16,078 density measurements were availablefor use, with the vast majority of these being in fresh rockbelow the saprock and laterite domains. This data hasbeen used as the basis of the block model bulk density.Visual inspection shows a clear relationship betweenlithology and density in fresh rock. No relationshipbetween density and sulphur content or gold contentcould be established.A default bulk density of 1.70t/m3 was assigned to thethin laterite horizon capping the deposit and to theunderlying saprock.A default bulk density of 2.46t/m3 was assigned to soft(oxidised?) rock.In fresh rock, Ordinary Kriging was used to estimatedensity, with the variogram and search neighbourhoodbeing dynamically oriented as per the gold gradeestimation. Default values for un-estimated fresh rockwere set as undifferentiated rock=2.86t/m3; fresh UBU2.99t/m3; fresh LBU 2.96t/m3 and fresh FEL 2.75t/m3,fresh RHD 2.69t/m3
Classification		The Measured, Indicated and Inferred classification isbased on the confidence in the continuity of geology and

	•The basis for the classification of the MineralResources into varying confidence categories.•Whether appropriate account has been taken of allrelevant factors (i.e. relative confidence intonnage/grade estimations, reliability of input data,confidence in continuity of geologyand metal values, quality, quantity and distribution ofthe data).•Whether the result appropriately reflects theCompetent Person's view of the deposit.	mineralisation and quality/confidence in the estimationand quality of assay data and bulk density data. Sectionalwireframe interpretations encompass material ofMeasured and Indicated classification. The classificationis Measured where it is informed by 20m spaced drillingon 20m spaced sections or better, the slope of regressionestimation quality parameter is greater than 0.8. It isclassified as Indicated where it is informed by 20m to 40mspaced drilling on 40m spaced sections or better, theslope of regression estimation quality parameter isgreater than 0.7.
		Inferred classification is informed by 40m spaced drillingon 80m spaced sections, or better.
		The Mineral Resource estimate appropriately reflects theCompetent Person's view of the deposit.
Audits or reviews	•The results of any audits or reviews of Mineral•Resource estimates.	No external reviews have been completed.
Discussion ofrelativeaccuracy/confidence	•Where appropriate a statement of the relativeaccuracy and confidence level in the MineralResource estimate using an approach or proceduredeemed appropriate by the Competent Person. Forexample, the application of statistical or geostatisticalprocedures to quantify the relative accuracy of theresource within stated confidence limits, or, if such anapproach is not deemed appropriate, a qualitativediscussion of the factors that could affect the relativeaccuracy and confidence of the estimate.•The statement should specify whether it relates toglobal or local estimates, and, if local, state therelevant tonnages, which should be relevant totechnical and economic evaluation. Documentationshould include assumptions made and theprocedures used.•These statements of relative accuracy andconfidence of the estimate should be compared withproduction data, where available.	Although the estimate for gold is considered to be withoutbias, it is for the some of the estimated volume based onrelatively wide spaced data. The estimate is therefore ofmoderate confidence and expected to be of moderaterelative accuracy at the local (SMU) scale when drillingdensity exceeds 20m x 20m. Infill grade control drillingwill be required to improve the confidence of the localestimate.The LUC estimate has been compared to ID estimatesand in a limited volume to an OK estimate of closespaced grade control drilling. Differences have beenidentified, however these do not exceed expectations andno material issues have been identified in thesecomparisons and the LUC estimate appropriatelyrepresents the source data.

At 31 December 2023

Section 4 Estimation and Reporting of Ore Reserves

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Mineral Resourceestimate forconversion toOre Reserves	•Description of the Mineral Resource estimate usedas a basis for the conversion to an Ore Reserve.•Clear statement as to whether the MineralResources are reported additional to, or inclusiveof, the Ore Reserve.	Ore Reserves are the material reported as a sub-set ofthe resource, that which can be extracted from the mineand processed with an economically acceptableoutcome. Mineral Resources are reported inclusive ofOre Reserves.
Site visits	•Comment on any site visits undertaken by theCompetent Person and the outcome of those visits.•If no site visits have been undertaken indicate whythis isthe case.	The Competent Person, Mr Kitwa Ndjibu, is a full-timeemployee of Resolute Mining Ltd and a Member of theAustralasian Institute of Mining and Metallurgy. Heconducted a site visit to the project area in October 2022.
Study status	•The type and level of study undertaken to enableMineral Resources to be converted to OreReserves.•The Code requires that a study to at least PreFeasibility Study level has been undertaken toconvert Mineral Resources to Ore Reserves. Suchstudies will have been carried out and will havedetermined a mine plan that is technicallyachievable and economically viable, and thatmaterial Modifying Factors have been considered.	A mining study update was conducted by Mining FocusConsultants Pty Ltd in July 2020 based on the 2015Definitive feasibility study Mako open pit has been incontinuous mining operation since August 2017. Duringthis time the performance of the open pit has shown apositive reconciliation between mineral resources andgold production and delivered positive cashflows. Primarycontributors to the study were: · Mining FocusConsultants
Cut-offparameters	•The basis of the cut-off grade(s) or qualityparameters applied.	A Mill breakeven cut-off grade (COG) change from 0.6 g/tto 0.9 g/t gold has been applied for Mako to account forthe increase to the long-term processing costs.
Mining factors orassumptions	•The method and assumptions used as reported inthePre-Feasibility or Feasibility Study to convert theMineral Resource to an Ore Reserve (i.e. either byapplication of appropriate factors by optimization orby preliminary or detailed design).•The choice, nature and appropriateness of theselected mining method(s) and other miningparameters including associated design issuessuch as pre-strip, access, etc.•The assumptions made regarding geotechnicalparameters (e.g. pit slopes, stope sizes, etc.),grade control andpre-production drilling.•The major assumptions made and MineralResource model used for pit and stope optimization(if appropriate).•The mining dilution factors used.•The mining recovery factors used.•Any minimum mining widths used.•The manner in which Inferred Mineral Resourcesare utilized in mining studies and the sensitivity ofthe outcome to their inclusion.•The infrastructure requirements of the selectedmining methods.	•Mako operations are open pit mining methods.•Whittle pit shell optimisations were conducted ascomponent of the mining study. ·•Ground conditions at Mako are good with overallslope angle 55° with batter face angle of 75°. ·•Footwall slope is on average 45 degrees in linewith the dip of the orebody. ·•The Resource model was a diluted model; noadditional dilution is required. ·•95% Mining recovery used. ·•No Inferred Mineral Resource is included withinthe Reserve. ·•No additional infrastructure is required for theremaining mine life.
Metallurgicalfactors orassumptions	•The metallurgical process proposed and theappropriateness of that process to the style ofmineralization.	•Different recovery is used for different ore types.Basalt and Felsic ore have 90% and 95%recoveries respectively. The mentionedrecoveries are in line with current plantperformance. ·

	•Whether the metallurgical process is well-testedtechnology or novel in nature.•The nature, amount and representativeness ofmetallurgical test work undertaken, the nature ofthe metallurgical domaining applied and thecorresponding metallurgical recovery factorsapplied.•Any assumptions or allowances made fordeleterious elements.•The existence of any bulk sample or pilot scale testwork and the degree to which such samples areconsidered representative of the ore body as awhole.•For minerals that are defined by a specification, hasthe ore reserve estimation been based on theappropriate mineralogy to meet the specifications?	•Recovery process is well tested and performingto expectation. ·•No deleterious elements, no organics or otherelements impacting on Au recovery
Environmental	•The status of studies of potential environmentalimpacts of the mining and processing operation.Details of waste rock characterization and theconsideration of potential sites, status of designoptions considered and, where applicable, thestatus of approvals for process residue storage andwaste dumps should be reported.	No acid generation from the waste dumps have beenobserved in line with test work expectations. No acidforming metallurgy within waste rock material.
Infrastructure	•The existence of appropriate infrastructure:availability of land for plant development, power,water, transportation (particularly for bulkcommodities), labour, accommodation; or the easewith which the infrastructure can be provided, oraccessed.	All infrastructure for the Mako project has beencompleted.Water supply dams, TSF dams have been completedwith ongoing TSF lifts planned through the remainingmine life. All power station and camp accommodationinfrastructure has been completed.
Costs	•The derivation of, or assumptions made, regardingprojected capital costs in the study.•The methodology used to estimate operating costs.•Allowances made for the content of deleteriouselements.•The derivation of assumptions made of metal orcommodity price(s), for the principal minerals andco- products.•The source of exchange rates used in the study.•Derivation of transportation charges.•The basis for forecasting or source of treatmentand refining charges, penalties for failure to meetspecification, etc.•The allowances made for royalties payable, bothGovernment and private.	Royalties paid are variable dependent on gold price At1500 the gold royalty is 3.53%. at 1800 $/oz the royaltyis 3.8%Costs used are taken from mine actuals and Miningcontractor unit rates.
Revenue factors	•The derivation of, or assumptions made regardingrevenue factors including head grade, metal orcommodity price(s) exchange rates, transportationand treatment charges, penalties, net smelterreturns, etc.•The derivation of assumptions made of metal orcommodity price(s), for the principal metals,minerals and co-products.	A gold price of US$1,500/oz formed the basis of the OreReserves. Gold price used for planning purposes arefrom consensus forecasts provided by external corporateadvisers.No penalties are incurred for deleterious material.No revenue received from co-products.
Marketassessment	•The demand, supply and stock situation for theparticular commodity, consumption trends and	The market for gold is robust with prevailing gold pricebeing well above US$1,500/oz.

	factors likely to affect supply and demand into thefuture.•A customer and competitor analysis along with the	Supply and demand are not considered material to theOre Reserve calculations.
	identification of likely market windows for theproduct.•Price and volume forecasts and the basis for theseforecasts.•For industrial minerals the customer specification,testing and acceptance requirements prior to asupply contract.
Economic	•The inputs to the economic analysis to produce thenet present value (NPV) in the study, the sourceand confidence of these economic inputs includingestimated inflation, discount rate, etc.•NPV ranges and sensitivity to variations in thesignificant assumptions and inputs.	The financial evaluation undertaken as part of theevaluation indicated a positive net present value (NPV) ata 7% annual discount rate. The following major economicinputs were used:•Costs as previous described•Gold price of US$1500/oz•Royalties of 3.5%
Social	•The status of agreements with key stakeholdersand matters leading to social license to operate.	The government of Senegal has a 10% free carriedinterest in the operation.No other stakeholder agreements in place.
Other	•To the extent relevant, the impact of the followingon the project and/or on the estimation andclassification of the Ore Reserves:•Any identified material naturally occurring risks.•The status of material legal agreements andmarketing arrangements.•The status of governmental agreements andapprovals critical to the viability of the project, suchas mineral tenement status, and government andstatutory approvals. There must be reasonablegrounds to expect that all necessary Governmentapprovals will be received within the timeframesanticipated in the Pre-Feasibility or Feasibilitystudy. Highlight and discuss the materiality of anyunresolved matter that is dependent on a third partyon which extraction of the reserve is contingent.	No additional naturally occurring risks. No flood risk, lowseismicity risk.
Classification	•The basis for the classification of the Ore Reservesinto varying confidence categories.•Whether the result appropriately reflects theCompetent Person's view of the deposit.•The proportion of Probable Ore Reserves that havebeen derived from Measured Mineral Resources (ifany).	The Ore Reserve estimate appropriately reflects theCompetent Person's view of the deposit.
Audits or reviews	•The results of any audits or reviews of Ore Reserveestimates.
Discussion ofrelativeaccuracy/confidence	•Where appropriate a statement of the relativeaccuracy and confidence level in the Ore Reserveestimate using an approach or procedure deemedappropriate by the Competent Person. Forexample, the application of statistical orgeostatistical procedures to quantify the relativeaccuracy of the reserve within stated confidencelimits, or, if such an approach is not deemedappropriate, a qualitative discussion of the factorswhich could affect the relative accuracy andconfidence of the estimate.

global or local estimates, and, if local, state therelevant tonnages, which should be relevant totechnical and economic evaluation. Documentationshould include assumptions made and theprocedures used.•Accuracy and confidence discussions shouldextend to specific discussions of any appliedModifying Factors that may have a material impacton Ore Reserve viability, or for which there areremaining areas of uncertainty at the current studystage.•It is recognized that this may not be possible or

appropriate in all circumstances. These statementsof relative accuracy and confidence of the estimateshould be compared with production data, whereavailable.

At 31 December 2023

Tomboronkoto

Section 1 Sampling Techniques and Data

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Samplingtechniques	•Nature and quality of sampling (e.g. cut channels,random chips, or specific specialised industrystandard measurement tools appropriate to theminerals under investigation, such as down holegamma sondes, or handheld XRF instruments, etc.).These examples should not be taken as limiting thebroad meaning of sampling.•Include reference to measures taken to ensuresample representivity and the appropriate calibrationof any measurement tools or systems used.•Aspects of the determination of mineralisation thatare Material to the Public Report.•In cases where 'industry standard' work has beendone this would be relatively simple (e.g. 'reversecirculation drilling was used to obtain 1 m samplesfrom which 3 kg was pulverised to produce a 30 gcharge for fire assay'). In other cases moreexplanation may be required, such as where there iscoarse gold that has inherent sampling problems.Unusual commodities or mineralisation types (e.g.submarine nodules) may warrant disclosure ofdetailed information.	Sampling has been by diamond drill coring and reversecirculation chip.Diamond core has been geologically logged and sampledto geological contacts with nominal sample lengthsbetween 0.3m and 4.5m (most commonly 1m). Coreselected for assay is systematically cut lengthwise intohalf core by diamond blade rock saw, numbered andbagged before dispatch to the laboratory for analysis.All core is photographed, wet and dry.Reverse circulation chips are geologically logged andsampled on regular lengths of 1m. Chip material selectedfor assay is systematically divided to a 1/8 proportionusing a rotary splitter attached to the cyclone samplerecovery system, numbered and bagged before dispatchto the laboratory for analysis.
Drilling techniques	•Drill type (e.g. core, reverse circulation, open-holehammer, rotary air blast, auger, Bangka, sonic, etc.)and details (e.g. core diameter, triple or standardtube, depth of diamond tails, face-sampling bit orother type, whether core is oriented and if so, bywhat method, etc.).	Diamond core drilling with standard inner tubes. NTWdiameter (57.1 mm) to target depth where possible withsome smaller NQ2 intervals as tails. Core is marked andoriented.Reverse Circulation drilling with 4" or 4.5" hammer and 4"rod string to target depth.
Drill samplerecovery	•Method of recording and assessing core and chipsample recoveries and results assessed.•Measures taken to maximise sample recovery andensure representative nature of the samples.•Whether a relationship exists between samplerecovery and grade and whether sample bias mayhave occurred due to preferential loss/gain offine/coarse material.	Diamond core recoveries are measured in the core traysand recorded as recovered metres and recovered % aspart of the geological logging process.RC recoveries are monitored by chip sample weightrecording. Sample weights have been analysed forcyclicity with no relationship between sample weight anddepth noted.
Logging	•Whether core and chip samples have beengeologically and geotechnically logged to a level ofdetail to support appropriate Mineral Resourceestimation, mining studies and metallurgical studies.•Whether logging is qualitative or quantitative innature. Core (or costean, channel, etc.) photography.•The total length and percentage of the relevantintersections logged.	Diamond core has been geologically and geotechnicallylogged to a level of detail to support appropriateclassification and reporting of a Mineral Resource.Reverse circulation chip samples have been geologicallylogged to a level of detail to support appropriateclassification and reporting of a Mineral Resource.Total length of DD logged is 1,242m. Total length of RClogged is 12,986m.
Sub-samplingtechniques andsamplepreparation	•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 andappropriateness of the sample preparationtechnique.•Quality control procedures adopted for all subsampling stages to maximise representivity of	Historic core has been systematically cut lengthwise intohalf core with a diamond saw.RC samples representing a 1/8 split are taken directlyfrom the rig mounted cyclone by rotary splitter, sampleweight is recorded, sample is bagged in pre numberedplastic and sample tickets are inserted and bag is sealedfor transport to preparation facility.Generally, one of each of the two control samples (blankor CRM standard) is inserted into the sample stream everytenth sample. Over the 2018 deep diamond programme.

	samples.•Measures taken to ensure that the sampling isrepresentative of the in situ material collected,including for instance results for fieldduplicate/second-half sampling.•Whether sample sizes are appropriate to the grainsize of the material being sampled.	An industry standard, documented process of samplemark-up, core splitting, bagging and ticketing andrecording is in place at the Mako site. The laboratoriessample preparation followed a standard documentedprocess flow with whole sample crushing (better than 70%passing 2mm) followed by a 1kg riffle split for pulverisationto 75 micron (better than 85% pass).Master pulps of 250g were split and placed in airtight,sealed bags and sent by courier to the assaying laboratoryfor analysis.Sample size of 2-6kg is appropriate for the grain size ofmaterial.
Quality of assaydata andlaboratory tests	•The nature, quality and appropriateness of theassaying and laboratory procedures used andwhether the technique is considered partial or total.•For geophysical tools, spectrometers, handheld XRFinstruments, etc., the parameters used in determiningthe analysis including instrument make and model,reading times, calibrations factors applied and theirderivation, etc.•Nature of quality control procedures adopted (e.g.standards, blanks, duplicates, external laboratorychecks) and whether acceptable levels of accuracy(i.e. lack of bias) and precision have beenestablished.	Au assays are determined by fire assay with AAS finish.Laboratory and assay procedures are appropriate forMineral Resource estimation.QAQC consisted of standards, blanks and laboratoryduplicates (both coarse and pulp). The QAQC sampleresults showed acceptable levels of accuracy andprecision.The assay data is considered to be suitable for MineralResource estimation.
Verification ofsampling andassaying	•The verification of significant intersections by eitherindependent or alternative company personnel.•The use of twinned holes.•Documentation of primary data, data entryprocedures, data verification, data storage (physicaland electronic) protocols.•Discuss any adjustment to assay data.	All aspects of the core sampling, assay procedures andQA/QC program have been reviewed and were judged tobe suitable for use in the estimation of Mineral Resources.Drill hole assay result data has been checked against theoriginal hardcopy laboratory assay reports for arepresentative number of holes.Below detection limit values (negatives) have beenreplaced by background values.Un-sampled intervals have been retained as un-sampled(null or blank). All of these intervals occur within the wastedomain and have no material impact on the estimate.
Location of datapoints	•Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches, mineworkings and other locations used in MineralResource estimation.•Specification of the grid system used.•Quality and adequacy of topographic control.	Drill holes have been surveyed by the Mako Mine staffsurveyors using a Leica GS14, GS15 and GS18 DGPS.Down hole surveys were undertaken by the drillingcontractor using a Reflex DeviGyro tool with a readingtaken. every 3m down the hole.Grid system is based on the UTM28N grid on the WGS84ellipsoid. Survey heights are based on PRS097 (withindependent checks on AusPos) and are orthometric (i.e.msl).A topographic surface with 1m resolution has beengenerated from a 2022 Lidar survey of the Tomboronkotoarea.
Data spacing anddistribution	•Data spacing for reporting of Exploration Results.•Whether the data spacing and distribution issufficient to establish the degree of geological andgrade continuity appropriate for the Mineral Resourceand Ore Reserve estimation procedure(s) andclassifications applied.•Whether sample compositing has been applied.	Data spacing is variable across the deposit, ranging from50x50m at the periphery to 25x25m in the more denselydrilled core. This spacing is adequate to determine thegeological and grade continuity for reporting of an InferredMineral Resources.Drill samples were composited to 1m for use in theestimate.
Orientation ofdata in relation togeologicalstructure	•Whether the orientation of sampling achievesunbiased sampling of possible structures and theextent to which this is known, considering the deposittype.•If the relationship between the drilling orientation and	Geological structures are interpreted to be steeply-dippingto the south-southeast. Drilling intersects structures fromthe north and south sides, generally dipping -60⁰ belowhorizontal, with azimuths either at approximately 340⁰ or160⁰.

	the orientation of key mineralised structures isconsidered to have introduced a sampling bias, thisshould be assessed and reported if material.	Drilling primarily targeted the granodiorite unit whichcontained the most significant mineralisation and dippedat about 70⁰ to the south-southeast. The drillingorientation is adequate for a non-biased assessment ofthe orebody with respect to interpreted structures andinterpreted controls on mineralisation.
Sample security	•The measures taken to ensure sample security.	Labelling and submission of samples complies withindustry standard.
Audits or reviews	•The results of any audits or reviews of samplingtechniques and data.	An independent audit of the sample preparation laboratoryhas been undertaken in 2018 (Fis, 2018) found nomaterial issues with the sampling methods or data.

At 31 December 2023

Section 2 Reporting of Exploration Results

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Mineral tenementand land tenurestatus	•Type, reference name/number, location and ownershipincluding agreements or material issues with third partiessuch as joint ventures, partnerships, overriding royalties,native title interests, historical sites, wilderness or nationalpark and environmental settings.•The security of the tenure held at the time of reporting alongwith any known impediments to obtaining a licence tooperate in the area.	To date no exploration results have been reported on a grantedexploration permit, owned 100% by Petowal Mining CompanySA (Petowal).The permit is in good standing.
Exploration doneby other parties	•Acknowledgment and appraisal of exploration by otherparties.	Past exploration has been performed by Ashanti Gold andRandgold Resources on a previously held Research Permitwhich was relinquished prior to being held by Ardimines SARL.Randgold had undertaken soil geochemistry, surface mappingand drilling on the entire Research Permit. Regional augerdrilling identified gold anomalism which Ashanti Gold followed upwith Diamond and Reverse Circulation drilling and trenching onthe Tomboronkoto prospect. Subsequently Randgold undertookfurther DD drilling and trenching.
Geology	•Deposit type, geological setting and style of mineralisation.	Mineralisation is currently interpreted to be within a shear in thegranodiorite unit. Intensity of gold mineralisation appears to correlatewith the intensity of pyrite development and exhibits good lateral andvertical continuity through the mineralised zone.Mineralisation has a relatively simple geometry comprising a zonethat varies from 30 to 60m in width, along the 1,700m strike lengthdrilled to date. The zone dips approximately 70⁰ to the southsoutheast.
Drill holeInformation	•A summary of all information material to the understandingof the exploration results including a tabulation of thefollowing information for all Material drill holes:oeasting and northing of the drill hole collaroelevation or RL (Reduced Level – elevation above sealevel in metres) of the drill hole collarodip and azimuth of the holeodown hole length and interception depthoWhole length.•If the exclusion of this information is justified on the basisthat the information is not Material and this exclusion doesnot detract from the understanding of the report, theCompetent Person should clearly explain why this isthe case.	Easting, Northing and RL of the drill hole collars are based on theUTM28N grid on the WGS84 ellipsoid. Survey heights are based onPRS097 (with independent checks on AusPos) and are orthometric(i.e. msl).The MRE has used drill hole collar RL derived from the topographicalsurface.Dip is the inclination of the hole from the horizontal. For example, avertically down drilled hole from the surface is -90°. Azimuth isreported in degrees as the grid direction toward which the hole isdrilled.Down hole length of the hole is the distance from the surface to theend of the hole, as measured along the drill trace. Intersection depthis the distance down the hole as measured along the drill trace.Intersection width is the downhole distance of an intersection asmeasured along the drill trace.Drill hole length is the distance from the surface to the end of thehole, as measured along the drill trace.
Data aggregationmethods	•In reporting Exploration Results, weighting averagingtechniques, maximum and/or minimum grade truncations(e.g. cutting of high grades) and cut-off grades are usuallyMaterial and should be stated.•Where aggregate intercepts incorporate short lengths ofhigh grade results and longer lengths of low grade results,the procedure used for such aggregation should be statedand some typical examples of such aggregations should beshown in detail.•The assumptions used for any reporting of metal equivalentvalues should be clearly stated.	Drillholes have been composited to 1m intervals using LeapfrogGeo 2023.2.0 with residual lengths distributed evenly across allcomposites within the domain. There are no residual samples.The influence of extreme gold assays has been limited by topcutting assays across all domains. Top-cuts have beendetermined using a combination of log probability, log histogram,and mean variance plots. Top-cuts have been reviewed andapplied to the composites on a domain-by-domain basis.The assay intervals are reported as down hole length as the truewidth variable is not known.Gold assays are rounded to two decimal places.No metal equivalent reporting is used or applied.

Relationshipbetweenmineralisationwidths andintercept lengths	•These relationships are particularly important in thereporting of Exploration Results.•If the geometry of the mineralisation with respect to the drillhole angle is known, its nature should be reported.•If it is not known and only the down hole lengths arereported, there should be a clear statement to this effect(e.g. 'down hole length, true width not known').	The intersection width is measured down the hole trace and maynot be the true width.All drill results are downhole intervals only due to the variableorientation of the mineralisation.
Diagrams	•Appropriate maps and sections (with scales) and tabulationsof intercepts should be included for any significant discoverybeing reported These should include, but not be limited to aplan view of drill hole collar locations and appropriatesectional views.	A plan view is contained within this document. New crosssectional interpretations are included.
Balancedreporting	•Where comprehensive reporting of all Exploration Results isnot practicable, representative reporting of both low and highgrades and/or widths should be practiced to avoidmisleading reporting of Exploration Results.	Diamond and RC drill holes forming the basis of the MineralResource estimate have been reported previously Additionaldrilling has informed the 2023 estimate.
Othersubstantiveexploration data	•Other exploration data, if meaningful and material, should bereported including (but not limited to): geologicalobservations; geophysical survey results; geochemicalsurvey results; bulk samples – size and method oftreatment; metallurgical test results; bulk density,groundwater, geotechnical and rock characteristics; potentialdeleterious or contaminating substances.	No other exploration data is considered meaningful and materialto this document.
Further work	•The nature and scale of planned further work (e.g. tests forlateral extensions or depth extensions or large-scale stepout drilling).•Diagrams clearly highlighting the areas of possibleextensions, including the main geological interpretations andfuture drilling areas, provided this information is notcommercially sensitive.	Future exploration may involve the drilling of more drillholes,both diamond core and reverse circulation, to further extend themineralised zones and to collect additional detailed data onknown mineralized zones. Geophysical exploration is alsoplanned as part of the future exploration of the permit.

At 31 December 2023

Section 3 Estimation and Reporting of Mineral Resources

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Databaseintegrity	•Measures taken to ensure that datahas not been corrupted by, forexample, transcription or keyingerrors, between its initial collection andits use for Mineral Resourceestimation purposes.•Data validation procedures used.	Data has been compiled into a relational SQL database; the setupof this database precludes the loading of data which do not meetthe required validation protocols. The data is managed usingDataShed© drill hole management software using SQL databasetechniques. Validation checks are conducted using SQL andDataShed© relational database standards. Data has also beenchecked against original hard copies for 100% of the data, andwhere possible, loaded from original data sources.Resolute completed the following basic validation checks on thedata supplied prior to resource estimation:•Drill holes with overlapping sample intervals.•Sample intervals with no assay data or duplicate records.•Assay grade ranges.•Collar coordinate ranges.•Valid hole orientation data.There are no significant issues identified with the data.
Site visits	•Comment on any site visits undertakenby the Competent Person and theoutcome of those visits.•If no site visits have been undertakenindicate why thisis the case.	Mr Bruce Mowat, a fulltime employee of Resolute Mining Limitedand a Member of the Australasian Institute of Mining and Metallurgyis the Competent Person who has visited this site on multipleoccasions.
Geologicalinterpretation	•Confidence in (or conversely, theuncertainty of) the geologicalinterpretation of the mineral deposit.•Nature of the data used and of anyassumptions made.•The effect, if any, of alternativeinterpretations on Mineral Resourceestimation.•The use of geology in guiding andcontrolling Mineral Resourceestimation.•The factors affecting continuity both ofgrade and geology.	The digital database used for the interpretation included loggedintervals for the key granodiorite unit. There is a moderate level ofconfidence in the interpretation of the mineralised shearzoneprimarily due to the relatively wide-spaced drilling. AdditionallyResolute's drilling program was entirely RC, though historic corehas been reviewed and logged.The mineralised volume has been constructed using nestedLeapfrog Indicator wireframes at lower cut-offs of 0.2 g/t Au and0.75 g/t Au. The overall shape of the mineralised unit has beenguided by a sectional interpretation of the trend of mineralisationwithin the mineralised shear.The factors affecting continuity both of grade and geology are mostlikely to be associated with structural controls and local complexity,the knowledge of which is limited with the current spacing ofinformation. The broad approach to the mineralisation modelling isan attempt to model an unbiased interpretation.
Dimensions	•The extent and variability of theMineral Resource expressed as length(along strike or otherwise), plan width,and depth below surface to the upperand lower limits of the MineralResource.	Gold mineralisation varies from approximately 10 to 50m inthickness along the approximately 750m strike length of definedmineralisation. Mineralisation dips at approximately 70⁰ to the SSEand is defined to approximately 150m vertical depth. The depositremains open at depth and to the west.
Estimation andmodellingtechniques	•The nature and appropriateness of theestimation technique(s) applied andkey assumptions, including treatmentof extreme grade values, domaining,interpolation parameters andmaximum distance of extrapolationfrom data points. If a computerassisted estimation method waschosen include a description ofcomputer software and parametersused.	Estimation of gold grade has been completed using Ordinary Kriging(OK). Mineralisation has been constrained using wireframesconstructed using nested Leapfrog Indicator wireframes constructedwithin the host granodiorite unit. These wireframes have been usedto define domain codes for estimation. Drillholes have been flaggedwith the domain code and composited using the domain code tosegregate the data.Domain boundary analysis has been undertaken with hardboundaries used for all domains.

At 31 December 2023

Drillholes have been composited to 1m intervals using Leapfrog Geo

		2023.2.0 with residual lengths distributed evenly across allcomposites within the domain. There are no residual samples.
	•The availability of check estimates,previous estimates and/or mineproduction records and whether theMineral Resource estimate takesappropriate account of such data.	The influence of extreme gold assays has been limited by top-cuttingassays across all domains. Top-cuts have been determined using acombination of log probability, log histogram, and mean varianceplots. Top-cuts have been reviewed and applied to the compositeson a domain-by-domain basis.
	•The assumptions made regardingrecovery of by- products.	Variography has been undertaken on a domain-by-domain basis inDatamine Supervisor v.8.14.3.3 using top-cut values.
	•Estimation of deleterious elements orother non-grade variables of economicsignificance (e.g. sulphur for acid minedrainage characterization).•In the case of block modelinterpolation, the block size in relationto the average sample spacing and thesearch employed.•In the case of block modelinterpolation, the block size in relationto the average sample spacing and thesearch employed.	Drillhole data spacing ranges from 25m x 25m in densely drilledareas to approximately 50m x 50m.The block model parent block size is 25m (X) by 25m (Y) by 5m (Z)with up to 16 sub-blocks per parent block in the X and Y directions,and up to 8 sub-blocks per parent block in the Z direction. Subblocks have been estimated at the parent block scale. Block size isconsidered appropriate for the drillhole spacing throughout thedeposit.Grade estimation has been completed in three passes:➢Pass 1 estimation has been undertaken using a minimum of4 and maximum of 25 sample composites (determined
	•Any assumptions behind modelling ofselective mining units.	using Datamine Supervisor v.8.14 KNA tool) into a searchellipsoid with dimensions equal to half the variogram rangeof the domain.
	•Any assumptions about correlationbetween variables.•Description of how the geologicalinterpretation was used to control the	➢Pass 2 estimation has been undertaken with the sameminimum/maximum samples as Pass 1 into a searchellipsoid twice the first pass.
	resource estimates.•Discussion of basis for using or notusing grade cutting or capping.	➢Pass 3 estimation has been undertaken with a minimum of2 samples, and the same maximum number of samples asthe first two passes into a search ellipsoid twice the secondpass
	•The process of validation, thechecking process used, thecomparison of model data to drill hole	➢A maximum of three samples per drillhole has been used inthe first two passes, with no limits set on the third pass.
	data, and use of reconciliation data ifavailable.	This is the first mineral resource estimate released for theTomboronkoto deposit.
		The mineral resource estimate has been validated using visualvalidation tools, mean grade comparisons between the block modeland declustered composite grade means, and swath plotscomparing the input composite grades and the estimated blockmodel grades by Northing, Easting, and RL.
		Leapfrog Geo v2023.2.0 and Datamine Supervisor v8.14.3.3software have been used for estimation.
		No by-product recoveries were considered.
Moisture	•Whether the tonnages are estimatedon a dry basis or with natural moisture,and the method of determination of themoisture content.	Moisture was not considered in the density assignment.
Cut-offparameters	•The basis of the adopted cut-offgrade(s) or qualityparameters applied.	A nominal lower cut-off grade of 0.2g/t Au was used to define themineralised domains to encompass the complete mineraliseddistribution and produce a model that reduces the risk of conditionalbias that could be introduced where the constraining interpretationand data selection is based on a significantly higher grade than thenatural geological gradecut-off.The cut-off grade for reporting (above 0.5g/t Au and above 1.0 g/t
		Au) was used in line with the previous resource reporting at thenearby Mako deposit
Mining factors orassumptions	•Assumptions made regarding possiblemining methods, minimum miningdimensions and internal (or, if	The shallow occurrence of the mineralisation indicates that open pitmining is appropriate, in line with other deposits in the area.

	applicable, external) mining dilution.
	It is always necessary as part of theprocess of determining reasonableprospects for eventual economicextraction to consider potential miningmethods, but the assumptions maderegarding mining methods andparameters when estimating MineralResources may not always berigorous. Where this is the case, thisshould be reported with an explanationof the basis of the mining assumptionsmade.	The estimation methodology used results in an amount of edgedilution being incorporated into the blocks of the model. No accountof mining loss has been incorporated.
Metallurgicalfactors orassumptions	•The basis for assumptions orpredictions regarding metallurgicalamenability. It is always necessary aspart of the process of determiningreasonable prospects for eventualeconomic extraction to considerpotential metallurgical methods, butthe assumptions regardingmetallurgical treatment processes andparameters made when reportingMineral Resources may not always berigorous. Where this is the case, thisshould be reported with an explanationof the basis of the metallurgicalassumptions made.	No specific assumptions were made regarding metallurgical factorsfor this estimate.Metallurgy is assumed to be similar to the nearby Mako deposit.
Environmentalfactors orassumptions	•Assumptions made regarding possiblewaste and process residue disposaloptions. It is always necessary as partof the process of determiningreasonable prospects for eventualeconomic extraction to consider thepotential environmental impacts of themining and processing operation.While at this stage the determinationof potential environmental impacts,particularly for a green fields project,may not always be well advanced, thestatus of early consideration of thesepotential environmental impactsshould be reported. Where theseaspects have not been considered thisshould be reported with an explanationof the environmental assumptionsmade.	No assumptions were made regarding environmental restrictions.
Bulk density	•Whether assumed or determined. Ifassumed, the basis for theassumptions. If determined, themethod used, whether wet or dry, thefrequency of the measurements, thenature, size and representativeness ofthe samples.•The bulk density for bulk material musthave been measured by methods thatadequately account for void spaces(vugs, porosity, etc), moisture anddifferences between rock andalteration zones within the deposit.	Specific gravity values for the Tombo Prospect have beenmeasured based on the Archimedean Principle using the immersionmethod for individual core samples. A total of 215 densitymeasurements were available for use, with the vast majority ofthese being in fresh rock below the saprock and laterite domains.This data has been used as the basis of the block model bulkdensity.No relationship between density and sulphur content or gold contentcould be established.A default bulk density of 1.76t/m3 was assigned to oxide rocks.A default bulk density of 2.16t/m3 was assigned to transitional rock.A default bulk density of 2.72t/m3 was assigned to fresh rock.

Classification	•Discuss assumptions for bulk densityestimates used in the evaluationprocess of the different materials.•The basis for the classification of theMineral Resources into varyingconfidence categories.•Whether appropriate account hasbeen taken of all relevant factors (i.e.relative confidence in tonnage/gradeestimations, reliability of input data,confidence in continuity of geologyand metal values, quality, quantity anddistribution of the data).•Whether the result appropriatelyreflects the Competent Person's viewof the deposit.	The classification is based on the confidence in the continuity ofgeology and mineralisation and quality/confidence in the estimationand quality of assay data and bulk density data. Sectional wireframeinterpretations encompass material of Measured and Indicatedclassification. As all of Resolute's drilling was RC, and noconfirmation of previous diamond drilling has been undertaken, theentire Mineral Resource has been classified as Inferred.The Mineral Resource estimate appropriately reflects the CompetentPerson's view of the deposit.
Audits or reviews	•The results of any audits or reviews ofMineral•Resource estimates.	No external reviews have been completed.
Discussion ofrelativeaccuracy/confidence	•Where appropriate a statement of therelative accuracy and confidence levelin the Mineral Resource estimateusing an approach or proceduredeemed appropriate by the CompetentPerson. For example, the applicationof statistical or geostatisticalprocedures to quantify the relativeaccuracy of the resource within statedconfidence limits, or, if such anapproach is not deemed appropriate, aqualitative discussion of the factorsthat could affect the relative accuracyand confidence of the estimate.•The statement should specify whetherit relates to global or local estimates,and, if local, state the relevanttonnages, which should be relevant totechnical and economic evaluation.Documentation should includeassumptions made and theprocedures used.•These statements of relative accuracyand confidence of the estimate shouldbe compared with production data,where available.	Although the estimate for gold is considered to be without bias, it isfor the some of the estimated volume based on relatively widespaced data. The estimate is therefore of moderate confidence andexpected to be of moderate relative accuracy at the local scalewhen drilling density exceeds 25m x 25m. Infill grade control drillingwill be required to improve the confidence of the local estimate.