Resolute Mining Limited — Capital/Financing Update 2017

Oct 17, 2017

18 October 2017

Bibiani Resource Upgrade

Mineral Resources increased by 40% to 2.5 million ounces

Highlights

• Updated Bibiani Mineral Resource estimate now totals 2.5 million ounces of gold
• Indicated and Inferred Resources increased by 40% to 21.7Mt at 3.6g/t Au for 2.5Moz
• Indicated Resources increased by 26% to 1.5 million ounces of gold (13.3Mt at 3.5g/t Au)
• Phase 2 drilling program completed with results including:
  • o BSDD040 30m @ 8.9g/t Au from 498.7m
  • o BSDD060 26m @ 5.0g/t Au from 347m
  • o BSDD068 15m @ 8.5g/t Au from 488m
  • o BUDD072 48m @ 3.6g/t Au from 171m; and
    • 6m @ 16.5g/t Au from 227.14m
  • o BUDD077 51m @ 4.3g/t Au from 117m
  • o BUDD087 29m @ 9.0g/t Au from 279m
• The updated Mineral Resource Estimate is the result of the excellent Phase 2 drilling results
• The drilling results confirm significant untested potential for further growth remains at Bibiani
• 65% of the updated Mineral Resource Estimate is contained within the Central Lode which will be the focus of a revised mine plan for Bibiani
• An updated Feasibility Study has commenced which is expected to be completed by the end of 2017 and is designed to enable a development decision

Resolute Mining Limited (Resolute or the Company) (ASX:RSG) is pleased to announce an updated Mineral Resource Estimate for the Company's 90% owned Bibiani Gold Mine (Bibiani) in Ghana. The updated resource estimate was undertaken following the completion of the successful Phase 2 exploration drilling program and has resulted in significant increases in both tonnes and contained gold.

Managing Director and CEO, Mr John Welborn, was impressed by the increase in contained gold at Bibiani and encouraged by the implications of the updated Mineral Resource for the potential to recommission the mine:

"Bibiani is a key growth asset for Resolute and represents a valuable organic opportunity to increase future gold production and generate positive cash flows. The Phase 2 drilling program has achieved the objective of substantially increasing our Mineral Resource. Significantly the Central Lode has expanded and represents the focus of an updated mine plan. The drilling results suggest substantial additional upside remains, especially down dip of the Central Lode where a number of very broad, high grade intersections were recorded. I am looking forward to completion of an updated Feasibility Study later this year and the potential for a positive development decision."

"Resolute remains committed to working with our partner, the Government of Ghana, as we move towards our mutual goal of recommissioning the Bibiani Gold Mine as a long life, robust, profitable operation."

Drilling Program and Results

The Phase 2 exploration drilling program at Bibiani commenced in December 2016 and was completed in June 2017 with 25,400m of diamond drilling undertaken from both surface and underground positions. The primary focus of the program was to convert Inferred Resources to the Indicated category and to explore for new unmined mineralised lodes. Interim drill results (see ASX announcement dated 23 March 2017) detailed impressive intersections from the Central Lode between 5000N and 5700N. Better results previously announced from the first half of the drill program included:

• BSDD035 14m @ 4.4 g/t Au from 454m
• BSDD040 30m @ 8.9g/t Au from 499m
• BSDD042 24m @ 3.2g/t Au from 426m
• BUDD072 48m @ 3.6g/t Au from 171m; and 6m @ 16.5g/t Au from 227m
• BUDD074 47m @ 2.3g/t Au from 130m; and 17m @ 3.5g/t Au from 182m
• BUDD077 51m @ 4.3g/t Au from 117m

These excellent results continued in the Central Lode for the remainder of the program. Further intersections obtained in the second half of the Phase 2 drilling program have confirmed the large panel of continuous high grade mineralisation in the Central Lode. Better results from the second half of the program include:

• BSDD044W1 35m @ 3.9g/t Au from 516.12m
• BSDD060 26m @ 5.0g/t Au from 347m
• BSDD061 57m @ 2.1g/t Au from 328m
• BSDD068 15m @ 8.5g/t Au from 488m (drilled after updated resource estimation)
• BUDD084 50m @ 2.1g/t Au from 149m
• BUDD087 29m @ 9.0g/t Au from 279m

Figure 1: Long Section of Bibiani updated resource model and Phase 2 drilling results

Figures 1-4 display a selection of drilling intersections in both long section (Figure 1) and cross section view. Of particular note is the consistent widths and grades intersected in the deepest holes on these sections. The deposit remains open below these depths. The results indicate that further extensions to resources are likely. Historical records also indicate that the prevalence of previous stoping diminishes below these levels. The result in BSDD068, which was drilled after the resource estimation was commenced, is particularly encouraging.

Figure 2: Drill section 5150N

Figure 3: Drill Section 5300N

Figure 4: Drill Section 5450N

Updated Mineral Resource Estimate

Following completion of the Phase 2 drilling program Optiro Pty Ltd (Optiro) was engaged to prepare an independent resource estimate. As part of this engagement the Bibiani mineralisation was reinterpreted and revised geological domain wireframes were constructed. Optiro have used an ordinary-kriged methodology constrained by these domain wireframes. The Bibiani mineralised system has been classified into discreet domains which reflect the mineralisation and the natural grade of the deposit. Significantly, 65% of the updated Mineral Resource Estimate is contained within the Central Lode domain.

The updated Mineral Resource Estimate produced a 40% increase in total resources from the previous estimate. The updated combined Indicated and Inferred Resource is 21.7Mt @ 3.6g/t Au at a 2 g/t Au cut off for a total of 2.5 million ounces. This is an increase of 729,000 ounces over the June 2016 estimate of 1.8 million ounces. In addition to a significant increase in volume, the grade of the total resources at Bibiani has increased from 3.5g/t to 3.6g/t. The updated Mineral Resource Estimate is primarily a result of the excellent Phase 2 drilling from the Central Lode.

Total Indicated Resources now stand at 13.3Mt at 3.5 g/t Au for 1.5Moz, an increase of 300,000 ounces over the previous estimate. The updated Indicated Resource will form the basis of a revised mine plan and updated feasibility study which will allow for an updated estimate of Reserves for Bibiani. The revised mine plan will focus on the Central Lode and will provide the key input into an updated feasibility study.

Bibiani Mineral Resources as at 18 October 2017 (2g/t Au cutoff)
	Tonnes	Grade	Ounces
Classification	(000s)	(g/t)	(000s)
Indicated	13,255	3.50	1,493
Inferred	8,438	3.73	1,011
Total	21,693	3.59	2,504

Table 1: Bibiani Mineral Resources as at 18 October 2017

Bibiani Mineral Resources as at 30 June 2017 (2g/t Au cutoff)
Classification	Tonnes	Grade	Ounces
	(000s)	(g/t)	(000s)
Indicated	11,180	3.3	1,184
Inferred	4,485	4.1	591
Total	15,665	3.5	1,775

Table 2: Bibiani Mineral Resources as at 30 June 2017

Bibiani 2016 Feasibility Study

A positive Feasibility Study for Bibiani was completed and lodged with the Government of Ghana in June 2016 (see ASX announcement dated 23 June 2016). The 2016 Study proposed an underground mine that would produce in excess of 100,000 ounces of gold per annum at a Life of Mine All-In Sustaining Cost of US$851/oz. Mine production was anticipated to be 1.2 million tonnes per annum from Long Hole Open Stope underground mining. Processing of the ore was planned to occur at the existing on-site Bibiani processing plant. The Study identified a modest start-up capital requirement of only US$72 million and a short lead time to production of only nine months. The majority of the upfront capital was allocated to the refurbishment of the plant and to the purchase of owner operated mining fleet.

An initial Ore Reserve of 5.4 million tonnes at 3.7g/t Au containing 640,000 ounces of gold was established as a result of the 2016 Study. This initial Ore Reserve was expected to maintain 100,000oz per annum production for an initial 5 year mine life. The method of mining and the production rate envisaged at Bibiani is consistent with Resolute's demonstrated capability in operating large mechanised underground gold mines. Given Resolute's extensive and successful experience of underground mining, and the Company's previous operating history in Ghana, Bibiani is a key organic growth opportunity.

The original workings at Bibiani extend to around 800m below surface. The previous resource only considered the area between the base of the pit at around 200m below surface and the limit of Resolute's drilling which extended to approximately 450m below surface. Substantial opportunity was identified to enhance the outcomes of the 2016 Study. Specifically the strong economic benefit of upgrading the higher grade portions of the Inferred Resource of 4.5Mt at 4.1g/t Au motivated the planning and implementation of the Phase 2 drilling program. Further successful exploration to upgrade and extend the orebody was expected to boost project economics, extend the mine life and further enhance value.

Updated Bibiani Feasibility Study

An updated Feasibility Study has commenced based on the Updated Mineral Resource Estimate. The Phase 2 drilling program has successfully increased the size, grade, and confidence in the resource and will drive improved project economics and extension to the mine life beyond the initial five years. The updated Feasibility Study will include an updated Ore Reserve. In addition to incorporating the Phase 2 drilling and increased Mineral Resource, the updated study will incorporate a review of capital expenditure and consider alternative mining rates and mining methods appropriate to the underground project.

Resolute has identified opportunities for introducing emerging technologies in mining and processing at Bibiani to improve productivity and safety and reduce costs. The Company intends to transfer a number of innovations from its Mt Wright Mine, where it has made a number of advances in equipment productivity through sophisticated maintenance planning and in remote operation of mobile equipment.

The Feasibility Study is expected to be completed by the end of calendar 2017 and is designed to enable a development decision.

For further information, contact:

John Welborn Managing Director & CEO Resolute Mining Limited T: +61 8 9261 6100 E: contact@rml.com.au

About Resolute

Resolute is a successful gold miner with more than 25 years of continuous production. The Company is an experienced explorer, developer, and operator having operated nine gold mines across Australia and Africa which have produced 8 million ounces of gold. Resolute currently operates two mines, the Syama Gold Mine in Africa and the Ravenswood Gold Mine in Australia, and is one of the largest gold producers listed on the Australian Securities Exchange with FY18 guidance of 300,000 ounces of gold production at All-In Sustaining Costs of A$1,280/oz (US$960/oz).

Resolute's flagship Syama Gold Mine in Mali is a robust long life asset comprising parallel sulphide and oxide processing plants. The move to underground mining is expected to extend the mine life beyond 2028.

The Ravenswood Gold Mine in Queensland demonstrates Resolute's significant underground expertise in successfully mining the Mt Wright ore body, where operations are expected to cease in FY18. The Company's next stage of development in Queensland is the return to large scale open pit mining at the Ravenswood Expansion Project which will extend the Company's local operations for a further 13 years to at least 2029.

In Ghana, the Company has completed a feasibility study on the Bibiani Gold Project focused on the development of an underground operation requiring modest capital and using existing plant infrastructure. Resolute is also exploring over 6,600km2 of potential world class tenure in West Africa and Australia with active drilling programs in Mali, Ghana, Cote d'Ivoire and Queensland, Australia. The Company is focused on growth through exploration and development and is active in reviewing new opportunities to build shareholder value.

Competent Persons Statement

The information in this announcement that relates to Exploration Results is based on information compiled by Mr Bruce Mowat, a Competent Person who is a member of the Australian Institute of Geoscientists and is a full-time employee of Resolute Mining Ltd. Mr Mowat has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Mineral Resources and Ore Reserves". Mr Mowat consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

The information in this announcement that relates to the Mineral Resource estimate has been based on information and supporting documents prepared by Mr Kahan Cervoj, a Competent Person who is a member of The Australasian Institute of Mining and Metallurgy. Mr Cervoj is a full time employee of Optiro Pty. Ltd. and has sufficient experience 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. Mr Cervoj confirms that the Mineral Resource section is based on the information in his supporting documents and consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

ASX:RSG Capital Summary

Fully Paid Ordinary Shares: 741,477,595 Current Share Price: A$1.07, 17 October, 2017 Market Capitalisation: A$793 Million FY18 Guidance: 300,000oz @ AISC A$1,280/oz

Board of Directors

Mr Martin Botha Non-Executive Chairman Mr John Welborn Managing Director & CEO Mr Peter Sullivan Non-Executive Director Mr Mark Potts Non-Executive Director Mr Bill Price Non-Executive Director Ms Yasmin Broughton Non-Executive Director

Contact

John Welborn Managing Director & CEO Level 2, Australia Place | 15-17 William St Perth, Western Australia 6000 T: +61 8 9261 6100 | F: +61 8 9322 7597 E: contact@rml.com.au

Hole_ID	North(WGS)	East(WGS)	RL(m)	Dip	Azi(WGS)	EOH(m)	From(m)	To(m)	Width(m)	Au(g/t)
BSDD035	715537	574972	238	-59	301	597.2	454	468	14	4.36
BSDD040	714563	574542	230	-72	303	700.07	498.7	529	30.3	8.92
BSDD042	714518	574518	231	-67	301	494.3	426	449.7	23.7	3.15
BSDD044W1	714587	574581	230	-70	303	628.9	516.12	551	34.88*	3.92
BSDD048	714486	574477	232	-70	301	436.4	418.4	436.4	18*	3.09
BSDD060	715207	574833	223	-53	301	520.2	347	373	26	5.00
BSDD061	715070	574853	225	-52	301	669.5	328	385	57	2.10
BSDD062	716201	574682	296	-68	127	550.3	374	402.1	28.1	2.26
BSDD065	715020	574853	226	-69	299	600.8	506	532	26	2.56
BSDD068	715127	574866	224	-80	297	852.6	488	503	15*	8.46
BUDD071	715059	574518	-38	-48	96	300	139	173	34	1.60
BUDD072	714988	574465	-39	-68	125	330.2	171	219	48	3.58
							227.14	233	5.86	16.51
BUDD074	714867	574411	-39	-69	117	252	130	177	47	2.26
							182	199	17	3.53
BUDD077	714835	574396	-39	-69	122	300.2	117	168	51	4.30
BUDD078	714942	574452	-39	-71	126	277.6	152	189	37	3.86
BUDD080	715087	574521	-37	-6	353	333.5	68	88	20	2.71
BUDD084	714744	574337	-39	-66	144	300.6	149	199	50*	2.08
BUDD085	714817	574271	22	-50	111	270	229	246	17	4.88
BUDD087	714820	574266	22	-60	111	369.1	250	266	16	3.13
							279	308	29	9.03
BUDD089	714927	574373	-5	-63	140	420.2	241	263	22	3.32
							292	315	23	2.38
BUDD091	714984	574404	-35	-65	121	400	107	118	11	4.64
							254	275	21	2.59
Table 3: Bibiani Phase 2 drilling intercepts

Notes to Accompany Table 3:

• Grid coordinates are WGS84 Zone 30 North
• Cut-off grade for reporting of intercepts is >1g/t Au with a maximum of 3m consecutive internal dilution included within the intercept; only intercepts >=3m and >=50 grams x metres are reported
• No top cut of individual assays prior to length weighted compositing of the intercept has been applied
• Samples are analysed for gold by FA25/AAS method which is a 25g fire assay with AAS instrument finish
• Intervals with asterisk (*) include voids

BIBIANI GOLD MINE GHANA

JORC Code, 2012 Edition – Table 1

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 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 casesmoreexplanation 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.	Samples were collected by Mensin Gold Bibiani Ltd (Mensin) from diamond core (DD) drill holesand reverse circulation (RC) pre-collars.Diamond core was sampled at 1m intervalsand cut in half, to provide a 2-4kg sample,which wassent to the laboratory for crushing, splitting and pulverising, to provide a 30g charge for analysis.RC samples were collected on 1m intervals byriffle split to obtain a 2-4kg sample, which wassentto the laboratory for crushing, splitting and pulverising, to provide a 30g charge for analysis.Mensin sampling and sample preparation protocols are industry standard and weredeemedappropriate by the Competent Person.Previous owners (1994-2012) collected samples from RCand DD drill holes and undergroundchannels(CHAN). In 2012 Coffey Mining Pty Ltd (Coffey Mining) assessed that the previoussampling was conducted using industry standards techniques.
Drillingtechniques	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, by whatmethod, etc.).	Drill types used include RC and diamond PQ, HQ and NQ2 sizes. Since 2014, HQ and NQ2 corehas been orientated using the Reflex ACTIII electronic core orientation tool.

Drillsamplerecovery		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 interval recoveries were measured from core block to core block using a tapemeasure. Stopes andvoids were identified as separate intervals.A relationship between sample recovery and grade was not identified.
Logging	intersections	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 relevantlogged.	Drill holes were geologically logged by geologists for lithology, alteration, mineralisation andweathering on geologically domained intervals.Geotechnical and structure orientation data was measured and logged for diamond core intervals.Drill core is photographed (dry and wet).Diamond core and RC chips were captured digitally using LogChief logging software, thenvalidated and imported into the digital drill hole database.Holes were logged in their entirety (100%).
Subsamplingtechniquesandsamplepreparation	samples.	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 ofMeasures 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 one metre intervals and cut in half to obtain a 2-4kg sample.Interval lengths were adjusted around voids, to ensure samples were at least 0.5m in length.RC intervals are riffle split (dry) to obtain a 2-4kg sample.Sample preparation of diamond core and RC samples included oven drying, crushing to 10mmand splitting, pulverising to 85% passing 75 microns. These preparation techniques are deemed tobe appropriate to the material being sampled.Drill core coarse duplicates were split by the laboratory after crushing at a rate of 1:20 samples.Reverse circulation field duplicates were collected from pre collars and were collected at a rate of1:20 samples.Mensin sampling, sample preparation and quality control protocols are industry standard and allattempts are made to ensure an unbiased representative sample is collected. The methodsapplied in this process are deemed appropriate by the Competent Person.Sub-sampling techniques and sample preparation completed by previous owners was assessedby Coffey Mining in 2012 and was determined to have been conducted using industry standardstechniques.

Quality ofassay dataandlaboratorytests	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 Mensin samples were assayed for gold by 25g fire assay fusion with AAS instrument finish. Theanalysis was performed at Intertek Tarkwa (method code FA25/AAS). The analytical method wasappropriate for the style of mineralisation. The analytical method is considered a total goldanalytical method.No geophysical tools were used to determine any elemental concentrations.Quality control (QC) procedures included the use of certified reference material and coarse blanksincludedat a rate of 1:20 drill samples, diamond core coarse duplicates (1:20) and reversecirculation field duplicates (1:20).Reanalysis of 1.5% of the pulps for gold by fire assay fusion AAS was carried out at a secondlaboratory, SGS Ghana, to test repeatability. Additionally, 2.5% of the pulps and 2.5% of thecoarse reject samples were reanalysed at the primary laboratory at the completion of the drillingprograms.Laboratory quality control data including laboratory standards, blanks, duplicates, repeats andgrind size results are also captured into the digital database.Analysis of the Mensin QC sample assay results indicates that an acceptable level of accuracy
		and precisionhas been achieved.Assay data quality for previous owners was assessed by Coffey Mining in 2012 and wasconsidered to be of industry standard for Noble data (2011-2012) and not verifiable at the time fordata that pre-dated Noble (1994-2008). Assessment of the available QAQC data demonstratedacceptable levels of assay precision and accuracy. When Mensin took ownership of the Bibianiproject in 2014 they initiated a data validation and verification process for the historical drill holes.
Verificationof samplingandassaying	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 intersectionwas completed by Mensin personnel following the receipt ofassay results.No drill holes within the resource were twinned.Drill holedatawas logged into LogChief digital logging software, validated and then compiled intoa relational SQL2012digital database using DataShed data management software. The SQLdatabaseincludes verification protocols which were used to validate the data. The drill holedatabase was backed up on a daily basis to the head office server.Assay result files were reported by the laboratory in PDF and CSV format and imported into theSQL database without adjustment or modification.In 2012 Coffey Miningassessed the sampling and assaying procedures for previous owners andconsidered them of appropriate industry standards.

		When Mensin took ownership of the Bibiani project in 2014 they initiated ongoing validation andverification processes for the data collected by previous owners. This has involved resamplinghistorical diamond core to verify intersections as well as cross-checking samples, void intervalsand assays against the original data sources including digital files, reports and laboratory assaycertificates in both hardcopy anddigital format. The outcome of the verification processes is that40% of the assay data for holes drilled by previous owners included in the resource have beenvalidated by Mensin.
Location ofdata points	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 surveyed in local Bibiani Mine Grid using a Total Station Theodolite withexpected accuracy of less than 1cm.Down hole surveys are collected using a Reflex EZTrac electronic magnetic survey tool. Surveysare obtained every 30m during drilling (single shot mode) and every 6m at the completion of eachhole (multi-shot mode). Survey data is checked and verified using the Reflex SProcess software,with survey readings outside of expected magnetic and gravity values flagged and excluded. Atime-dependent declination was applied to the magnetic readings to determine UTM azimuth.Coordinates and azimuths are reported in UTM WGS84 Zone 30 North.
Dataspacinganddistribution	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 demonstrate geological and grade continuity appropriate for theMineral Resource and the classifications applied under the JORC Code(2012).The appropriateness of the drill spacing was reviewed by resource geologists at Optiro and by theCompetent Persons in 2017.Downhole RC and diamond samples approximated 1m intervals.
Orientationof data inrelation 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.	The mineralisation trend extends over 2km of strike length with a steep to sub-vertical dip. Themajority of holes have been drilled perpendicular to the strike and at a high angle to the dip. Wherethis was not possible (such as from underground), holes have been drilled at oblique angles to themineralisation (up to 30°).No orientation based sampling bias has been identified in the data.
Samplesecurity	The measures taken to ensure sample security.	Samples were collected from the drill site and stored on site. All samples were individually baggedand labelled with unique sample identifiers, then securely dispatched to the laboratories. Allaspects of sampling and dispatch process were supervised and tracked by Mensin personnel.

Audits orreviews		The results of any audits or reviews of samplingtechniques and data.	In 2012 Coffey Miningassessed the sampling and assaying procedures for previous ownersandfound that prior to 2008 the sampling and assay data was not verifiable. The data collected byNoble between 2008 and 2012 were of an appropriate industry standards.
			External audits of current sampling procedures indicated sampling protocols reflect currentindustry standards.

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineral tenementand land tenure	Type, reference name/number, location andownership including agreements or material	Drilling was conducted within the Ghanaian Mining Concession Permit of Bibiani which covers thecurrent mining leases of the Bibiani Project.
status	issues with third parties such as jointventures, partnerships, overriding royalties,native title interests, historical sites,wilderness or national park and	Resolute Mining Limited has a 90% interest in the Bibiani Project through its subsidiary companyMensin Gold Bibiani Limited and the Exploitation Permit on which it is based. The GhanaGovernment holds a free carried 10% interest in Mensin Gold Bibiani Ltd (MGBL).
	environmental settings.The security of the tenure held at the timeof reporting along with any knownimpediments to obtaining a licence tooperate in the area.	The Bibiani Mine concession is located approximately 6° 27' latitude north and 2° 17' longitudewest in the Western Region of Ghana. The Bibiani mineral concessions lie approximately 80kilometres south west of the Ashanti capital, Kumasi. The principal access to the mine is from theeast, along the Kumasi–Bibiani –Sefwi Bekwi Highway. Ghana mining law provides that allmineral resources are administered by the Minerals Commission of Ghana.
Exploration done byother parties	Acknowledgment and appraisal ofexploration by other parties.	Commercial gold production commenced at Bibiani in the early 1900s and was suspended in1915. In 1927 mining activities recommenced as the mine was developed and operated by foreigninvestors until it was nationalised in 1958. Post nationalisation, the mine was operated by SGMC(State Gold Mining Corporation) until it was closed in 1973 following the depletion of economicreserves. During the SGMC period, reserves within the existing infrastructure were depleted andthe old workings were reworked to recover pillars and remnant lower grade material (probably plus6g/t) that was below the pay limit applied to the deposit prior to nationalisation.
		Reports have suggested that during the first 65 years of production a total of 7.8 million tonnesfrom underground mining and 0.5 million tonnes from surface operations were milled, producingover 2 million ounces of gold at an average recovered grade of approximately 9.5 g/t Au.
		In the late-1980s, Glamco and International Gold Resources ("IGR") gained rights to the oldBibiani mine and initiated tailings reclamation and surface exploration, which activities led to thedelineation of an open pit resource and a positive feasibility study.

		Ashanti Goldfields purchased Bibiani from IGR in the mid-1990s for US$ 130 million, financed anadditional US$ 85 million to capitalize the operation, and redeveloped the mine as an open pitoperation with a modern processing plant. Ashanti Goldfields (now AngloGold Ashanti ("AGA")produced approximately 1.8 million ounces of gold from the main and satellite pits (after main pitproduction was hampered by a slope failure in 2004) and tailings retreatment, bringing total Bibianiproduction since inception to almost four million ounces.
		Central African Gold plc (CAG) purchased Bibiani, for a cash consideration of US$ 40 million.Subsequent to acquisition, CAG expended a further US$ 51 million of capital on the mine, nearlyall of which was used to accelerate underground access and to purchase a modern undergroundmining fleet. Despite development and capital constraints Bibiani produced a further 53,066 oz. ofgold between 2007 and 2008 from three sources, namely old tailings, underground ore, and nearmine open pit oxide ore not included in the mineral resources.
		In late 2009, Noble Mineral Resources Ltd signed a 'Sale of Shares' agreement to acquire CentralAfrican Gold Ghana Ltd from Investec Bank subject to a number of Conditions. One of theseConditions states that Noble shall formulate a 'Development Plan' for the development of and thereturn to production of the Bibiani mining and processing operations.
		Resolute Mining Ltd became the owner of the Bibiani Project in June 2014 following thecompletion of the Deed of Company Arrangement (DOCA) regarding Noble Mineral ResourcesLimited (ASX:NMG) and acceptance and approval of a scheme of arrangement in Ghana.
		Prior to Resolute acquiring the project, approximately 1,100 RC and/or diamond holes for168,000m had been drilled by previous operators into the Bibiani resource area (excluding satellitedeposits andregional exploration). Since 2014, Mensin have drilled 169 diamond holes (17 holeshave RC pre-collars) for 50,100m into the resource area.
Geology	Deposit type, geological setting and style ofmineralisation.	The project is located withinrocks of the Birimian Supergroup in SW Ghana. Locally mineralisationis hosted within predominately carbonaceous metasediments of the Kumasi-Afema Basin,immediately adjacent to the eastern margin of metavolcanic-dominant Bibiani-Sefwi Belt. Thebasin sediments are dominated by a thick sequence of fine grained graded turbidites (siltstone toshale) with localised interbeds of fine to medium grained turbiditic sandstones. The shales arevariably carbonaceous and often develop phyllitic and schistose fabrics, as a result of overprintingdeformation. Several felsic to intermediate composition dykes intrude the sedimentary sequences,including dacite, tonalite, granodiorite and rare monzonitic lamprophyres.
		Rocks of the Bibiani-Sefwi Belt occur to the west, inthe footwall of the Bibiani deposit and includecoarser grained turbidites with lithic fragments, and thick intervals of basalt, often with doleriticbases and flow-top breccias with carbonaceous interflow sediments.

		The margin between the Kumasi-Afema Basin and Bibiani-Sefwi Belt is marked by a broad zone ofroughly sub-vertical shearing, striking roughly NNE, regionally referred to as the Bibiani or SefwiShear.
		The sedimentary sequence is tightly folded, with west-dipping axial planes and localiseddevelopment of steep W-NW dipping shear zones, which acted as conduits for initial Aumineralisation. Further deformation resulted in development of S-SE dipping brittle-ductile faultsand emplacement of larger quartz reefs.
		Mineralisation is related to emplacement of quartz veins, which occur as either sheared, stockworkveins with quartz-ferroan dolomite, or as larger, up to 20m wide, locally stylolitic quartz reefs. Bothveins types are associated with pyrite +/-arsenopyrite. Fine-grained disseminated Fe-carbonateand sericite alteration with pyrite +/-arsenopyrite occurs adjacent to the veining.
		The overall mineralised trend extends over 2km along strike. Mineralisation has also beenidentified on a sub-parallel trend to the east of the main deposit, with numerous pits developed bypervious operators over a strike length of approximately 4km.
Drill hole Information	A summary of all information material to theunderstanding of the exploration resultsincluding a tabulation of the followinginformation for all Material drill holes:oeasting and northing of the drill holecollar	All information including easting, northing, elevation, dip, azimuth, coordinate system, drill holelength, interval length and depth are measured and recorded in UTM WGS84 Zone 30 North.
		The Bibiani local mine grid has been tied to the UTM WGS84 Zone 30 North coordinate system.
		Drill hole information has been tabulated for this release in the intercepts table of theaccompanying text. For completeness the following information is provided for each drill hole:
	oelevation or RL (Reduced Level –elevation above sea level in metres) ofthe drill hole collar	Easting, Northing and RL of the drill hole collars are measured and recorded in UTM WGS84Zone 30N.
	odip and azimuth of the hole	Dip is the inclination of the drill hole from horizontal. For example a drill hole drilled at-600ois 600from the horizontal
	odown hole length and interception depthoWhole length.	Down hole length is the distance down the inclination of the hole and is measured as the
	If the exclusion of this information isjustified on the basis that the information isnot Material and this exclusion does notdetract from the understanding of thereport, the Competent Person shouldclearly explain why this is the case.	distance from the horizontal to end of hole.Intercept depth is the distance from the start of the hole down the inclination of the hole to thedepth of interest or assayed interval of interest.
Data aggregation	In reporting Exploration Results, weighting	Exploration results reported in this announcement are tabulated using the following parameters:
methods	averaging techniques, maximum and/orminimum grade truncations (e.g. cutting ofhigh grades) and cut-off grades are usually	Coordinates are UTM WGS84 Zone 30N
		Cut-off grade for reporting of intercepts is >=1g/t Au with a maximum of 3m consecutive internal
		dilution included within the intercept; only intercepts >=3m are reported.

	Material and should be stated.Where aggregate intercepts incorporateshort lengths of high grade results andlonger lengths of low grade results, theprocedure used for such aggregationshould be stated and some typicalexamples of such aggregations should beshown in detail.The assumptions used for any reporting ofmetal equivalent values should be clearlystated.	No top cut of individual assays prior to length weighted compositing of the reported intercepthas been applied.Metal equivalent reporting was not used.
Relationshipbetweenmineralisation widths	These relationships are particularlyimportant in the reporting of ExplorationResults.	Mineralised zones across the deposit vary from steeply east dipping to steeply west dipping, withdipsgenerally exceeding 700. Drill holes are designed to intersect the mineralisation as close toorthogonal to the strike and dip as practical.
and intercept lengths	If the geometry of the mineralisation withrespect to the drill hole angle is known, itsnature should be reported.If it isnot known and only the down holelengths are reported, there should be aclear statement to this effect (e.g. 'downhole length, true width not known').	Surface drill holes were drilled with azimuths at mine grid 270° in the south and at mine grid 090°in the northern end, depending access and the overall trend of the mineralisation. Undergrounddrill holes were mostly drilled at mine grid 090° and occasionally at slightly oblique angles to themineralisation depending on access. In general, true widths may be 50-90% of the downholelength.
Diagrams	Appropriate maps and sections (withscales) and tabulations of intercepts shouldbe included for any significant discoverybeing reported These should include, butnot be limited to a plan view of drill holecollar locations and appropriate sectionalviews.	Relevant maps, diagrams and tabulations are included in the body of text.
Balanced reporting	Where comprehensive reporting of allExploration Results is not practicable,representative reporting of both low andhigh grades and/or widths should bepracticed to avoid misleading reporting ofExploration Results.	Reporting of drill holes accompanies this report in a table highlighting significant intercepts.
Other substantiveexploration data	Other exploration data, if meaningful andmaterial, should be reported including (but	No geophysical orgeochemical data isreported in this release as they are not deemed relevant tothe release.

	not limited to): geological observations;geophysical survey results; geochemicalsurvey results; bulk samples –size andmethod of treatment; metallurgical testresults;bulk density, groundwater,geotechnical and rock characteristics;potential deleterious or contaminatingsubstances.	All diamond core drilled and sampled by Mensin are measured for bulk density which has a meanvalue of 2.77 g/cm3 and varies between 2.30 and 3.00 g/cm3
Further work	The nature and scale of planned furtherwork (e.g. tests for lateral extensions ordepth extensions or large-scale step-outdrilling).Diagrams clearly highlighting the areas ofpossible extensions, including the maingeological interpretations and future drillingareas, provided this information is notcommercially sensitive.	Drilling by Mensin to test lateral and depth extensions of the known mineralisation is ongoing.

Section 3 Estimation and Reporting of Mineral Resources

Criteria	JORC Code explanation	Commentary
Databaseintegrityits use for Mineral Resource estimationpurposes.Data validation procedures used.	Measures taken to ensure that data has notbeen corrupted by, for example, transcription orkeying errors, between its initial collection and	Data captured in a relational SQL database. The setup of this database precludes the loading ofdata which do not meet the required validation protocols. The data was managed using DataShed©drill hole management software (Maxwell Geoservices) using SQL database techniques. Validationchecks are conducted using SQL and DataShed© relational database standards.
		Approximately 6% by number (17% by length) of assayed samples prior to compositing were greaterthan 3.0 m in length. These overlength samples were sampled prior to 2014 and had an averagegrade lower than the < 3.0 m samples. These overlength samples were excluded from variographyanalysis but were included in the top-cut analysis and subsequent grade estimate.
		Drillhole database has been supplied as an extract of the master drillhole database. The drillholecollar data was visually inspected for any obvious errors (underground holes plotted up on surface,surface holes projected up above the surface).

		The assay and density data was inspected for potential outlier values and overlapping intervals, noneof which were identified in the assay data. Approximately 1% of the 39,862 density determinationswere identified as being potentially erroneous and excluded from further analysis.The database was subsequently validated and checks made to the database prior to use included:check for overlapping intervalsdownhole surveys at 0m depthconsistency of depths between different data tablescheck gaps in the data.
Site visits	Comment on any site visits undertaken by theCompetent Person and the outcome of thosevisits.If no site visits have been undertaken indicatewhy this is the case.	No site visit has been undertaken by the Kahan Cervoj who is acceptingresponsibilityfor thecompilation of the Mineral Resource.As this is a long lived project that recently was being successfully mined by the current operators,that Mensin Gold Bibiani Ltd personnel have accumulated extensive experience at the project andare taking responsibility for data collection, exploration results and interpretations (i.e. sections 1 and2 of the JORC Table 1), a site visit by the person completing the Mineral Resource wasnotdeemednecessary
Geologicalinterpretation	Confidence in (or conversely, the uncertainty of)the geological interpretation of the mineraldeposit.Nature of the data used and of any assumptionsmade.The effect, if any, of alternative interpretationson Mineral Resource estimation.The use of geology in guiding and controllingMineral Resource estimation.The factors affecting continuity both of gradeand geology.	The historical underground mining and recent open pit mining has resulted in a good understandingof the geology and mineralisation. There is high confidence in the geological interpretation.All available data (diamond and RC drilling, underground channel sampling) has been used toupdate the mineralised interpretations.The 2017 update is focussed on the underground potential. Oxidised material has been depleted aspart of the main and satellite pit mining and isassumed to be fully depleted.There is limited scope for alternative interpretations on a global scale. As a series of parallel lodesand splays, there is scope for very localised alternativeinterpretation.The mineralisation interpretation was guided by a combination of the geology (presence of structureand/or quartz veining) and gold grade. The only exception is Stope 13domainwhich is based on a0.5 g/t gold cut-.Factors that affect grade and geological continuity include the structural orientation (main shear orfootwall/hanging wall splay), and thespatialrelationship with the tonalite intrusive to the west of themineralised system.
Dimensions	The extent and variability of the MineralResource expressed as length (along strike orotherwise), plan width, and depth below surfaceto the upper and lower limits of the Mineral	The Bibiani mineralisation outcrops on surface and can be traced over 1,950mstrike length and 700m vertically, consisting of 12 lodes. The individual lodes range in strike length from 100 to 970 malong strike, 150 to 650 m vertically and with true widths that range from less than 1 m to 32 m truewidth.

	Resource.
EstimationThe nature and appropriateness of theand modellingestimation technique(s) applied and keytechniquesassumptions, including treatment of extremegrade values, domaining, interpolationparameters and maximum distance ofextrapolation from data points. Ifa computerassisted estimation method was chosen includea description of computer software andparameters used.		Grade estimation was by ordinary kriging using top-cut 1.0 m length composites samples which wasappropriate given the grade distributions. Top-cuts were applied to eachindividuallode to reducethe impact of a limited number of outlier grades.
	The lodes were interpreted using a combination of geology and grade,and the final solids werewireframed using Leapfrog Geology software. Each lode was treated individually and estimatedusing hard boundaries. Grade compositing was undertaken in SURPAC v6.6.2 and grade estimationcompleted in Datamine Studio RM v1.3.11.0. The grade estimation search and variogram orientationused the Studio RM dynamic anisotropy function.
		Less than 1% of the resource is extrapolated and the maximum distance of extrapolation is 131 m.
	The availability of check estimates, previousestimates and/or mine production records andwhether the Mineral Resource estimate takesappropriate account of such data.	Compared to the 2014 Mineral Resource estimate, there has been an increase in the interpretedvolume and tonnes at approximately the same grade for the deposit. This change is the result of ongoing extensional and infill exploration drillingand updated interpretations.
	The assumptions made regarding recovery ofby-products.	No assumptions regarding the recovery of any by-products have been made.
	Estimation of deleterious elements or other nongrade variables of economic significance (e.g.sulphur for acid mine drainage characterization).	No deleterious elements or other non-grade variables of economic significance have been estimatedor modelled.
	In the case of block model interpolation, theblock size in relation to the average samplespacing and the search employed.	A parentblock size of 20 mN x 5 mE x 20 mRL was used for estimation. The nominal drillholespacing is 20 mN x 20 mRL in the plane of the mineralisation.
		An expanding 3 pass search method was employed, with the search radii based on the overallgeometry of the lode. The search radius for the first pass ranged from 75 x 50 x 10 m to 175 x 85x 20 m, and was expanded by a factor of 1.25 for the second pass and 2.5 for the third pass. Aminimum number of two drillholes were required to inform the estimate.
		Any cells that were not estimated after the third pass (approximately 2% by volume) were assignedthe nearest estimated block grade.
	Any assumptions behind modelling of selectivemining units.	No assumptions regarding the selective mining unit have been made.
	Any assumptions about correlation between

	variables.	No other variables other than gold and dry density have been modelled.
	Description of how the geological interpretationwas used to control the resource estimates.	The mineralised interpretations were built on observed geology (presence or absence ofalteration, veining, structure) and grade. Domain Stope 13 was an exception to this, which wasbased on a 0.5 g/t gold cut-off due to the limited exposure of this zone/structure.
		All boundaries were treatedas 'hard' boundaries to flag the raw and subsequent composite samples,and for grade estimation.
	Discussion of basis for using or not using gradecutting or capping.The process of validation, the checking process	Grade cutting was used for all domains/zones, with each zone being individually reviewed using acombination ofpopulation disintegration and grade distribution plots. The only exception was for thenon-mineralised (waste) domain which was severely top-cut to manage the limited number ofoutliers.
	used, the comparison of model data to drill holedata, and use ofreconciliation data if available.	The block grade estimatewas initially validated by visual review of block grades to drillhole data,followed by a global comparison between the naïve and declustered grades and finally by swathplots by easting,northing and elevation.
		The Mineral Resource has been depleted for known underground mining.
		Production data has currently not been reviewed and no reconciliation between the production andthe 2017 estimatehas been undertaken.
Moisture	Whether the tonnages are estimated on a drybasis or with natural moisture, and the methodof determination of the moisture content.	All tonnages are estimated on a dry basis.
Cut-offparameters	The basis of the adopted cut-off grade(s) orquality parameters applied.	A reporting cut-off of 2.0g/t gold has been used to reflect the most probable underground miningscenario presented in the June 2016 Feasibility Study.
Mining factorsorassumptions	Assumptions made regarding possible miningmethods, minimum mining dimensions andinternal (or, if applicable, external) miningdilution. It is always necessary as part of theprocess of determining reasonable prospects foreventual economic extraction to considerpotential mining methods, but the assumptionsmade regarding mining methods andparameters when estimating Mineral Resourcesmay not always be rigorous. Where this is thecase, this should be reported with anexplanation of the basis of the mining	A Feasibility Study has been completed inJune2016, that usedthe June 2014 Mineral Resource.The preferred mining method identified was large scale long-holemining methods.

	assumptions made.
MetallurgicalThe basis for assumptions or predictionsfactors orregarding metallurgical amenability. It is alwaysassumptionsnecessary as part of the process of determiningreasonable prospects for eventual economicextraction to consider potential metallurgicalmethods, but the assumptions regarding	It is assumed that the metallurgy does not materially change with depth and that the metallurgicalperformance of the fresh open pit ore is not materially different for underground ore.
	metallurgical treatment processes and	It Is also assumedthat future treatment options will utilise much of the exiting processinginfrastructure. The current circuit configuration includes a Knelson Concentrator which typicallyrecovers up to 35% of the gold. Historically, the processing facility has produced dore with afineness of 80% gold and 20% silver.
	parameters made when reporting MineralResources may not always be rigorous. Wherethis is the case, this should be reported with anexplanation of the basis of the metallurgicalassumptions made.	The gold grain size distribution is reported as predominantly less than 50 microns however visiblegold has been observed within some quartz veins. Arsenopyrite has been observed within the orebody and there is generally a good correlation between the presence of gold. The presence ofarsenopyrite has no deleterious effect on processing of the ore.
		The ore host rock can be graphitic and carbonaceous with the graphite content increasing in themore intensely sheared zones. Historic processing data suggests the graphite may negativelyimpact gold recovery in the elution circuit, but this is reflected in the historical processingperformance.
Environmentalfactors orassumptions	Assumptions made regarding possible wasteand process residue disposal options. It isalways necessary as part of the process ofdetermining reasonable prospects for eventualeconomic extraction to consider the potentialenvironmental impacts of the mining and	Future processing operations would employthe existing regulated tailings storage facility that wasused for the processing of the open pit material. Some waste rock from future mining undergroundmay be potentially-acid forming, the majority of the waste rock will be non-acid forming. Waste rockdumping has been scheduled, along with encapsulation designs and optimization determined tominimize the risk of acid forming conditions from the waste rock dumping landform. Therehabilitation plan for the landform is also a key control.
processing operation. While at this stage thedetermination of potential environmentalimpacts, particularly for a greenfield project, maynot always be well advanced, the status of earlyconsideration of these potential environmentalimpacts should be reported. Where theseaspects have not been considered this shouldbe reported with an explanation of theenvironmental assumptions made.	Tailings generated from the project are not expected to be net acid forming and will be stored in thecurrent regulated storage facility.
Bulk density	Whether assumed or determined. If assumed,the basis for the asumptions. If determined, the	Bulk density is based on 37,123 validated dry density determinations. For the insitu mineralisation adensity value of 2.75 t/m3 was assigned. This value remains unchanged from previous estimates.
	method used, whethser wet or dry, the of themeasurements, the nature, size and frequencyrepresentativeness of the samples.	There was no material difference between the different weatheringor oxidation conditions. Tnemineralised oxide and transitional material has been fully depleted.

	The bulk density for bulk material must havebeen measured by methods that adequatelyaccount for void spaces (vugs, porosity, etc.),moisture and differences between rock andalteration zones within the deposit.Discuss assumptions for bulk density estimatesused in the evaluation process of the differentmaterials.	Procedures used to collect the bulk density information are not available. On-going mining at Bibianihas confirmed that the density value is appropriate. It was noted some of these determinations wereonwhole runs along the drillhole, while others were 'spot' density chosen either at a fixed distancedown the drillhole or to capture some observed feature in the core. However, no bias was identifiedbetween the two data collection types.There was no observed difference between the grade distributions for the differentweathering/oxidation conditions or between the mineralised/non-mineralised material. A single valuehas been assigned to all insitu material.
Classification	The basis for the classification of the MineralResources into varying confidence categories.	Mineral Resource classification was based on a combination of the drillhole spacing and krigingefficiency. Where grade and geological confidence was demonstrated, and the nominal drillingapproached less than 40 to 50 m spacing and the average nominal KE was greater than 30%, themineralisation was classified as an Indicated Mineral Resource.
	Whether appropriate account has been taken ofall relevant factors (i.e. relative confidence intonnage/grade estimations, reliability of inputdata, confidence in continuity of geology andmetal values, quality, quantity and distribution ofthe data).Whether the result appropriately reflects theCompetent Person's view of the deposit.	Material that did not meet thiscriteria were classified as an Inferred Mineral resource. There weresmall areas that remain unclassified because of either the extent of extrapolation and/or associatedlack of confidence in the interpretation.The Mineral Resource classification incorporates all relevant factors.The classification appropriately reflects the Competent Person's view of the deposit.
Audits orreviews	The results of any audits or reviews of MineralResource estimates.	The Mineral Resource has undergone internal peer review but no other independent third partyaudits are available at this time.
Discussion ofrelativeaccuracy/confidence	Where appropriate a statement of the relativeaccuracy and confidence level in the MineralResource estimate using an approach orprocedure deemed appropriate by theCompetent Person. For example, the applicationof statistical or geostatistical procedures toquantify the relative accuracy of the resourcewithin stated confidence limits, or, if such anapproach is not deemed appropriate, a	No geostatistical studies have been undertaken to determine relative accuracy or confidence limits ofthe estimate.Relative accuracy and confidence is reflected in the resource block model by the resource categoryassigned to blocks, that ultimately relates to local drillhole spacing and the geological interpretation.

qualitative discussion of the factors that couldaffect the relative accuracy and confidence ofthe estimate.The statement should specify whether it relatesto global or local estimates, and, if local, statethe relevant tonnages, which should be relevantto technical and economic evaluation.Documentation should include assumptionsmade and the procedures used.These statements of relative accuracy andconfidence of the estimate should be compared

Overall the 2017 Mineral Resource estimate is considered a global estimate. In areas of closerspaced drilling and where reflected by the resource classification, the estimate approximatesa localestimate, but requiresgrade control sampling prior to mining.

with production data, where available.

Reconciliation with historical underground or open pit mininghas not been done.