VOLT RESOURCES LIMITED — Regulatory Filings 2021

Mar 29, 2021

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ASX ANNOUNCEMENT

By e-lodgement

30 March 2021

KOUROUSSA AUGER DRILLING RESULTS OUTLINE THREE GOLD ANOMALY AREAS

Highlights

• First assay results from Kouroussa Auger drilling programme have outlined three areas of gold anomalies spread over an area ~1,200m by ~900m.

• Two of the anomalies extend from an area of shallow artisanal workings with auger assay grades up to 1.86g/t gold (3m composite within basal saprolite).

• Identified anomalous area number 1 has an interpreted length of 450m and is open to the south. Anomalous area 2 has a length of 470m and is adjacent to the Kouroussa Gold Project.

• An area to the west has two auger holes intercepting anomalous 0.5g/t gold values at the base of hole. This area is a new discovery with it being void of any artisanal workings.

• The Kouroussa auger drilling programme was completed with a total of 113 holes for 943m drilled to date. The company is planning to drill infill auger holes to better delineate the identified anomalous areas.

• Volt is continuing with its auger drilling campaign to test the identified anomalous grab samples and artisanal workings targets in all of its granted exploration permits.

Graphite and gold explorer and developer Volt Resources Limited ( ASX: VRC ) (“ Volt” or “ the Company” ) is pleased to announce the results from its initial power auger drilling programme for the Kouroussa permit. The programme has identified anomalous gold spread over an area of approximately 1,200 metres by 900 metres with no testing of the mineralization to depth. The mineralization over this broad area may relate to a single system, and this is to be confirmed by future deep drill programmes.

Volt Managing Director, Trevor Matthews, commented: “This is a very positive start to the auger drilling programme with the first exploration permit tested reporting a number of anomalous gold results which provides encouragement to do further work in the location.

The Volt board is looking forward to the results from the other two completed drill programmes and the current auger drilling programme underway at Konsolon.”

Volt Resources Ltd ACN 106 353 253 Level 25, 108 St Georges Terrace, Perth WA 6000 Telephone: +61 (0)8 9486 7788

Kouroussa Auger Drilling Results

The Kouroussa exploration permit shares its border with the Kouroussa Gold Mine, and is within the same geological setting as nearby Predictive Discovery Ltd’s Bankan Project. The auger drilling programmes are designed to generate initial Reverse Circulation and Diamond Drilling targets to be drilled later this year.

Two power auger drill rigs completed the initial Kouroussa drilling programme which comprised 113 auger holes for a total of 943 metres. The programme was concentrated in the areas that had anomalous grab sample results and artisanal workings. The auger drilling programme is undertaken to improve the geochemical understanding of the exploration targets using a cheap and efficient method that would penetrate and sample the rock below the lateritic and transported cover.

The first assay results have been received and the results are very encouraging with three geochemically anomalous areas identified. The most promising anomalous area is Area 1 which has a length of approximately 450m and is open to the south with composite sample results up to 1.86g/t gold. Area 2 has an existing surface anomaly and this has been confirmed as having auriferous potential through weak gold mineralization within a number of the auger holes. The third area is a new find and provides a new opportunity to link a broader area of potential mineralization to depth as two very anomalous gold values (0.46g/t and 0.47g/t gold) are recorded in an area with no artisanal workings and are both auriferous saprolite samples.

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Figure 1. Spatial distribution of auger assay results[1]

1 Refer to ASX announcement dated 23 July 2020 titled “Guinea Gold Projects Exploration Update”. The Company confirms that it is not aware of any new information or data that materially affects the information included in this document.

Given the success to date, further work will be progressed at the Kouroussa permit as follows:

• Infill auger drilling is proposed at all three areas in order to better delineate the anomalous areas. At Area 3, infill auger holes are planned to go deeper and infill to the south of the anomalous gold values.

• To understand the nature of the saprolite material, further geochemical testing of the auger samples with anomalous gold values as well as the saprolite samples located within adjacent primary enriched auger locations will be undertaken.

Exploration Programme

The exploration team has relocated to commence the largest auger drilling programme of the campaign, the Konsolon permit. The programme is comprised of 547 drill holes for a total of 8,205 metres. Similar to other permit drilling programmes, the average planned hole depth is 15 metres but will be amended by the actual depth required to intercept the saprolite rock.

Multiple gold in soil anomalies were identified of between 1.0km and 2.5km in length across the Konsolon permit. A previous review of soil samples in the legacy dataset identified high grade gold including 20.25g/t, 12.87g/t, 5.12g/t, 4.97g/t and 3.21g/t gold.[2]

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Figure 2. Konsolon historical soil sampling grid with high grade sample results.

2 Refer to ASX announcement dated 23 July 2020 titled “Guinea Gold Projects Exploration Update”. The Company confirms that it is not aware of any new information or data that materially affects the information included in this document.

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Figure 2. The Konsolon Project’s planned auger drill holes

Guinea Projects and Permits

Volt has six permits covering an area of 348.7 square kilometres in Guinea’s highly prospective Siguiri Basin and has grouped them into three projects – the Kouroussa Project, Mandiana Project and Konsolon Project. The permits are held through Volt’s 100% subsidiary Gold Republic Pty Ltd. See Figure 1 below for the project and permit locations.

The Kouroussa Project comprises three permits, the Kouroussa , Kouroussa West and Fadougou permits. The Kouroussa and Kouroussa West permits border the PDI permit which was the subject of a discovery of high-grade gold mineralization in April 2020. To the NE, the Kouroussa Permit borders the Kouroussa mine and the Fadougou permit is located 13km NE of the same mine.

The Konsolon Project constitutes one prospective permit. The permit includes multiple geochemical gold in soil anomalies identified by previous explorers but remains under explored.

The Mandiana Project comprises the highly prospective Nzima permit and Monebo permit. The Nzima permit borders the Nzima artisanal mine and is 15km SW of the 1.1Moz Tri-K Deposit owned by Managem.

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• Figure 3. The Permits located in the Suguiri Basin which forms part of the richly mineralised West African Birimian Gold Belt.

-ENDS-

Authorised by: Trevor Matthews Managing Director Volt Resources Limited

For further information please contact:

Trevor Matthews Managing Director Tel: +61 8 9486 7788

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Follow us on Twitter @ASXVolt

About Volt Resources Limited

Volt Resources Limited (“Volt”) is a graphite and gold exploration and development company listed on the Australian Stock Exchange under the ASX code VRC. Volt is currently focused on the exploration and development of its whollyowned Bunyu Graphite Project in Tanzania, as well as the creation of a new gold exploration and development business through leveraging the Company’s existing extensive networks in Africa.

The Bunyu Graphite Project is ideally located near to critical infrastructure with sealed roads running through the project area and ready access to the deep-water port of Mtwara 140km from the Project. In 2018, Volt reported the completion of the Feasibility Study (“FS”) into the Stage 1 development of the Bunyu Graphite Project. The Stage 1 development is based on a mining and processing plant annual throughput rate of 400,000 tonnes of ore to produce on average 23,700tpa of graphite products[3] . A key objective of the Stage 1 development is to establish infrastructure and market position in support of the development of the significantly larger Stage 2 expansion project at Bunyu.

The Guinea Gold Projects comprise 6 permits in Guinea, West Africa having a total area of 348km. The projects are located in the prolific Siguiri Basin which forms part of the richly mineralised West African Birimian Gold Belt.

Competent Person’s Statement

The information in this announcement that relates to exploration results is based on information compiled and/or reviewed by Mr Mark Gifford, an independent Geological expert consulting to Volt Resources Limited. Mr Mark Gifford is a Fellow of the Australian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Mr Gifford consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

3 Refer to Volt’s ASX announcement titled “Positive Stage 1 Feasibility Study Bunyu Graphite Project” dated 31 July 2018. The Company confirms that it is not aware of any new information or data that materially affects the information included in this document and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.

Table 1 – Power Auger Drill Results, Kouroussa Permit, Kouroussa Project

Hole_ID	Easting	Northing	RL	Inclination	EOH_m	From	Interval	Gold g/t
KAG0001	404,475	1,179,795	391	90	9.00	0.00	6.00	<0.01
KAG0001	404,475	1,179,795	391	90	9.00	6.00	3.00	0.02
KAG0002	404,521	1,179,795	392	90	9.00	0.00	3.00	<0.01
KAG0002	404,521	1,179,795	392	90	9.00	6.00	3.00	1.86
KAG0003	404,575	1,179,793	399	90	10.00	0.00	3.00	0.02
KAG0003	404,575	1,179,793	399	90	10.00	7.00	3.00	0.05
KAG0004	404,625	1,179,799	401	90	10.00	0.00	3.00	0.28
KAG0004	404,625	1,179,799	401	90	10.00	7.00	3.00	0.5
KAG0005	404,673	1,179,795	404	90	11.00	0.00	3.00	0.02
KAG0005	404,673	1,179,795	404	90	11.00	7.00	4.00	<0.01
KAG0006	404,725	1,179,795	404	90	6.00	0.00	2.00	0.04
KAG0006	404,725	1,179,795	404	90	6.00	3.00	3.00	<0.01
KAG0007	404,770	1,179,796	398	90	5.00	0.00	2.00	<0.01
KAG0007	404,770	1,179,796	398	90	5.00	2.00	3.00	<0.01
KAG0008	404,826	1,179,794	400	90	6.00	0.00	3.00	<0.01
KAG0008	404,826	1,179,794	400	90	6.00	3.00	3.00	<0.01
KAG0009	404,876	1,179,794	401	90	6.00	0.00	2.00	<0.01
KAG0009	404,876	1,179,794	401	90	6.00	3.00	3.00	<0.01
KAG0010	404,925	1,179,794	401	90	5.00	0.00	3.00	<0.01
KAG0010	404,925	1,179,794	401	90	5.00	3.00	2.00	<0.01
KAG0011	404,475	1,179,989	395	90	5.00	0.00	3.00	0.01
KAG0011	404,475	1,179,989	395	90	5.00	3.00	2.00	<0.01
KAG0012	404,529	1,179,987	397	90	5.00	0.00	3.00	0.02
KAG0012	404,529	1,179,987	397	90	5.00	3.00	2.00	0.03
KAG0013	404,574	1,179,995	398	90	5.00	0.00	3.00	<0.01
KAG0013	404,574	1,179,995	398	90	5.00	3.00	2.00	<0.01
KAG0014	404,623	1,179,995	403	90	5.00	0.00	2.00	<0.01
KAG0014	404,623	1,179,995	403	90	5.00	2.00	3.00	<0.01
KAG0015	404,676	1,179,993	412	90	5.00	0.00	2.00	<0.01
KAG0015	404,676	1,179,993	412	90	5.00	2.00	3.00	<0.01
KAG0016	404,724	1,179,994	412	90	4.00	0.00	2.00	<0.01
KAG0016	404,724	1,179,994	412	90	4.00	2.00	2.00	<0.01
KAG0017	404,773	1,179,998	410	90	5.00	0.00	3.00	0.05
KAG0017	404,773	1,179,998	410	90	5.00	3.00	2.00	0.03
KAG0018	404,822	1,179,995	415	90	6.00	0.00	4.00	0.05
KAG0018	404,822	1,179,995	415	90	6.00	4.00	2.00	<0.01
KAG0019	404,871	1,179,994	422	90	5.00	0.00	2.00	0.79
KAG0019	404,871	1,179,994	422	90	5.00	2.00	3.00	0.11
KAG0020	404,923	1,179,996	420	90	12.00	0.00	3.00	0.14
KAG0020	404,923	1,179,996	420	90	12.00	9.00	3.00	0.05
KAG0021	404,925	1,180,167	460	90	16.00	0.00	3.00	0.07
KAG0021	404,925	1,180,167	460	90	16.00	12.00	3.00	0.09
KAG0022	404,874	1,180,163	422	90	9.00	0.00	3.00	0.02
KAG0022	404,874	1,180,163	422	90	9.00	6.00	3.00	0.02
KAG0023	404,828	1,180,169	431	90	12.00	0.00	3.00	0.06
KAG0023	404,828	1,180,169	431	90	12.00	10.00	2.00	0.05
KAG0024	404,777	1,180,163	425	90	9.00	0.00	3.00	<0.01
KAG0024	404,777	1,180,163	425	90	9.00	6.00	3.00	<0.01

KAG0025	404,727	1,180,163	429	90	10.00	0.00	3.00	<0.01
KAG0025	404,727	1,180,163	429	90	10.00	6.00	3.00	<0.01
KAG0026	404,676	1,180,161	424	90	5.00	0.00	2.00	<0.01
KAG0026	404,676	1,180,161	424	90	5.00	2.00	3.00	<0.01
KAG0027	404,625	1,180,157	419	90	4.00	0.00	2.00	0.03
KAG0027	404,625	1,180,157	419	90	4.00	2.00	2.00	0.05
KAG0028	404,575	1,180,162	421	90	6.00	0.00	2.00	0.02
KAG0028	404,575	1,180,162	421	90	6.00	2.00	4.00	0.05
KAG0029	404,524	1,180,170	421	90	5.00	0.00	2.00	0.01
KAG0029	404,524	1,180,170	421	90	5.00	2.00	3.00	<0.01
KAG0030	404,493	1,180,168	368	90	11.00	0.00	2.00	0.01
KAG0030	404,493	1,180,168	368	90	11.00	2.00	3.00	<0.01
KAG0030	404,493	1,180,168	368	90	11.00	5.00	3.00	<0.01
KAG0031	404,427	1,180,164	382	90	7.00	0.00	3.00	0.02
KAG0031	404,427	1,180,164	382	90	7.00	3.00	3.00	0.03
KAG0032	404,377	1,180,166	403	90	5.00	0.00	3.00	0.03
KAG0032	404,377	1,180,166	403	90	5.00	3.00	2.00	0.02
KAG0033	404,332	1,180,165	377	90	5.00	0.00	2.00	0.02
KAG0033	404,332	1,180,165	377	90	5.00	2.00	3.00	<0.01
KAG0034	404,282	1,180,168	401	90	6.00	0.00	3.00	0.01
KAG0034	404,282	1,180,168	401	90	6.00	3.00	3.00	<0.01
KAG0035	404,230	1,180,166	401	90	9.00	0.00	3.00	<0.01
KAG0035	404,230	1,180,166	401	90	9.00	7.00	2.00	0.03
KAG0036	404,176	1,180,166	399	90	7.00	0.00	2.00	<0.01
KAG0036	404,176	1,180,166	399	90	7.00	4.00	3.00	<0.01
KAG0037	404,128	1,180,160	399	90	10.00	0.00	3.00	<0.01
KAG0037	404,128	1,180,160	399	90	10.00	5.00	3.00	<0.01
KAG0038	403,976	1,180,168	396	90	11.00	0.00	3.00	<0.01
KAG0038	403,976	1,180,168	396	90	11.00	9.00	2.00	0.02
KAG0039	403,924	1,180,166	393	90	13.00	0.00	3.00	<0.01
KAG0039	403,924	1,180,166	393	90	13.00	11.00	2.00	0.01
KAG0040	403,876	1,180,161	388	90	11.00	0.00	3.00	<0.01
KAG0040	403,876	1,180,161	388	90	11.00	8.00	3.00	<0.01
KAG0041	403,825	1,180,162	386	90	8.00	0.00	3.00	<0.01
KAG0041	403,825	1,180,162	386	90	8.00	6.00	2.00	<0.01
KAG0042	403,777	1,180,164	378	90	7.00	0.00	3.00	<0.01
KAG0042	403,777	1,180,164	378	90	7.00	5.00	2.00	<0.01
KAG0043	403,729	1,180,164	378	90	2.00	0.00	2.00	<0.01
KAG0044	403,678	1,180,164	377	90	8.00	0.00	3.00	<0.01
KAG0044	403,678	1,180,164	377	90	8.00	6.00	2.00	<0.01
KAG0045	403,626	1,180,167	376	90	11.00	0.00	3.00	0.04
KAG0045	403,626	1,180,167	376	90	11.00	6.00	5.00	<0.01
KAG0046	403,586	1,180,166	376	90	10.00	0.00	3.00	<0.01
KAG0046	403,586	1,180,166	376	90	10.00	5.00	5.00	<0.01
KAG0047	403,525	1,180,163	375	90	7.00	0.00	3.00	<0.01
KAG0047	403,525	1,180,163	375	90	7.00	6.00	1.00	0.01
KAG0048	404,433	1,179,991	399	90	6.00	0.00	3.00	0.02
KAG0048	404,433	1,179,991	399	90	6.00	3.00	3.00	<0.01
KAG0049	404,373	1,179,989	394	90	7.00	0.00	3.00	0.03
KAG0049	404,373	1,179,989	394	90	7.00	4.00	3.00	0.02
KAG0050	404,323	1,179,999	393	90	8.00	0.00	3.00	0.01
KAG0050	404,323	1,179,999	393	90	8.00	5.00	3.00	<0.01
KAG0051	404,268	1,179,995	389	90	7.00	0.00	3.00	<0.01
KAG0051	404,268	1,179,995	389	90	7.00	4.00	3.00	0.01

KAG0052	404,226	1,179,996	392	90	6.00	0.00	3.00	0.03
KAG0052	404,226	1,179,996	392	90	6.00	4.00	2.00	0.03
KAG0053	404,175	1,179,994	382	90	7.00	0.00	3.00	<0.01
KAG0053	404,175	1,179,994	382	90	7.00	5.00	2.00	0.01
KAG0054	404,126	1,179,993	386	90	9.00	0.00	3.00	0.02
KAG0054	404,126	1,179,993	386	90	9.00	5.00	3.00	0.01
KAG0055	404,074	1,179,993	389	90	13.00	0.00	3.00	<0.01
KAG0055	404,074	1,179,993	389	90	13.00	7.00	3.00	0.02
KAG0056	404,026	1,179,995	381	90	9.00	0.00	3.00	<0.01
KAG0056	404,026	1,179,995	381	90	9.00	8.00	1.00	0.46
KAG0057	403,977	1,179,996	384	90	9.00	0.00	3.00	0.01
KAG0057	403,977	1,179,996	384	90	9.00	6.00	3.00	0.02
KAG0058	403,928	1,179,993	375	90	8.00	0.00	3.00	0.01
KAG0058	403,928	1,179,993	375	90	8.00	6.00	2.00	<0.01
KAG0059	403,876	1,179,994	371	90	8.00	0.00	3.00	<0.01
KAG0059	403,876	1,179,994	371	90	8.00	6.00	2.00	0.02
KAG0060	403,825	1,179,997	370	90	8.00	0.00	3.00	<0.01
KAG0060	403,825	1,179,997	370	90	8.00	7.00	1.00	0.47
KAG0061	403,775	1,179,996	369	90	8.00	0.00	4.00	0.03
KAG0061	403,775	1,179,996	369	90	8.00	6.00	2.00	0.04
KAG0062	403,725	1,179,991	369	90	6.00	0.00	3.00	0.01
KAG0062	403,725	1,179,991	369	90	6.00	5.00	1.00	0.02
KAG0063	403,669	1,179,994	369	90	1.00	0.00	1.00	<0.01
KAG0064	403,626	1,179,998	370	90	12.00	0.00	3.00	0.02
KAG0064	403,626	1,179,998	370	90	12.00	6.00	3.00	0.01
KAG0065	403,575	1,179,997	371	90	6.00	0.00	5.00	<0.01
KAG0066	403,522	1,179,991	368	90	5.00	0.00	4.00	0.01
KAG0067	404,427	1,179,795	389	90	9.00	0.00	4.00	0.2
KAG0067	404,427	1,179,795	389	90	9.00	7.00	2.00	0.04
KAG0068	404,377	1,179,797	389	90	10.00	0.00	4.00	<0.01
KAG0068	404,377	1,179,797	389	90	10.00	4.00	6.00	0.02
KAG0069	404,326	1,179,794	383	90	11.00	0.00	3.00	0.08
KAG0069	404,326	1,179,794	383	90	11.00	3.00	5.00	<0.01
KAG0069	404,326	1,179,794	383	90	11.00	8.00	3.00	<0.01
KAG0070	404,277	1,179,797	381	90	11.00	0.00	4.00	0.01
KAG0070	404,277	1,179,797	381	90	11.00	9.00	2.00	<0.01
KAG0071	404,222	1,179,795	379	90	13.00	0.00	3.00	0.04
KAG0071	404,222	1,179,795	379	90	13.00	8.00	5.00	<0.01
KAG0072	404,173	1,179,797	380	90	11.00	0.00	3.00	0.02
KAG0072	404,173	1,179,797	380	90	11.00	9.00	2.00	0.03
KAG0073	404,127	1,179,794	381	90	12.00	0.00	5.00	<0.01
KAG0073	404,127	1,179,794	381	90	12.00	10.00	2.00	<0.01
KAG0074	404,081	1,179,797	379	90	7.00	0.00	4.00	0.02
KAG0075	404,024	1,179,797	374	90	10.00	0.00	4.00	<0.01
KAG0075	404,024	1,179,797	374	90	10.00	8.00	2.00	<0.01
KAG0076	403,976	1,179,797	371	90	9.00	0.00	3.00	<0.01
KAG0076	403,976	1,179,797	371	90	9.00	7.00	2.00	0.03
KAG0077	404,375	1,179,598	370	90	8.00	0.00	4.00	0.04
KAG0078	404,423	1,179,597	376	90	13.00	0.00	3.00	<0.01
KAG0078	404,423	1,179,597	376	90	13.00	11.00	2.00	0.04
KAG0079	404,917	1,179,594	400	90	9.00	0.00	3.00	<0.01
KAG0079	404,917	1,179,594	400	90	9.00	6.00	3.00	<0.01
KAG0080	404,873	1,179,592	400	90	10.00	0.00	3.00	<0.01
KAG0080	404,873	1,179,592	400	90	10.00	5.00	5.00	<0.01

KAG0081	404,822	1,179,598	392	90	9.00	0.00	3.00	0.01
KAG0081	404,822	1,179,598	392	90	9.00	4.00	3.00	0.04
KAG0082	404,771	1,179,601	396	90	10.00	0.00	3.00	<0.01
KAG0082	404,771	1,179,601	396	90	10.00	4.00	2.00	0.02
KAG0083	404,728	1,179,596	388	90	9.00	0.00	5.00	0.03
KAG0083	404,728	1,179,596	388	90	9.00	6.00	3.00	<0.01
KAG0084	404,673	1,179,594	391	90	8.00	0.00	3.00	0.06
KAG0084	404,673	1,179,594	391	90	8.00	3.00	5.00	0.03
KAG0085	404,627	1,179,594	387	90	7.00	0.00	5.00	0.49
KAG0086	404,584	1,179,591	388	90	9.00	0.00	2.00	0.05
KAG0086	404,584	1,179,591	388	90	9.00	2.00	2.00	0.05
KAG0086	404,584	1,179,591	388	90	9.00	4.00	5.00	0.02
KAG0087	404,525	1,179,589	383	90	9.00	0.00	3.00	0.02
KAG0087	404,525	1,179,589	383	90	9.00	5.00	4.00	0.03
KAG0088	404,475	1,179,592	380	90	13.00	0.00	4.00	0.04
KAG0088	404,475	1,179,592	380	90	13.00	11.00	2.00	0.04
KAG0089	404,324	1,179,599	378	90	8.00	0.00	4.00	0.02
KAG0089	404,324	1,179,599	378	90	8.00	6.00	2.00	0.01
KAG0090	404,275	1,179,595	372	90	13.00	0.00	3.00	0.01
KAG0090	404,275	1,179,595	372	90	13.00	9.00	4.00	<0.01
KAG0091	404,217	1,179,594	381	90	8.00	0.00	3.00	0.02
KAG0091	404,217	1,179,594	381	90	8.00	7.00	1.00	<0.01
KAG0092	404,176	1,179,599	368	90	13.00	0.00	4.00	<0.01
KAG0092	404,176	1,179,599	368	90	13.00	9.00	4.00	<0.01
KAG0093	404,123	1,179,600	372	90	7.00	0.00	3.00	<0.01
KAG0093	404,123	1,179,600	372	90	7.00	5.00	2.00	0.04
KAG0094	404,074	1,179,596	373	90	10.00	0.00	4.00	<0.01
KAG0094	404,074	1,179,596	373	90	10.00	8.00	2.00	<0.01
KAG0095	404,018	1,179,595	369	90	10.00	0.00	4.00	<0.01
KAG0095	404,018	1,179,595	369	90	10.00	7.00	3.00	<0.01
KAG0096	403,976	1,179,596	368	90	9.00	0.00	3.00	<0.01
KAG0096	403,976	1,179,596	368	90	9.00	6.00	3.00	0.03
KAG0097	403,926	1,179,599	355	90	10.00	0.00	4.00	0.03
KAG0097	403,926	1,179,599	355	90	10.00	8.00	2.00	<0.01
KAG0098	403,886	1,179,595	367	90	9.00	0.00	4.00	<0.01
KAG0098	403,886	1,179,595	367	90	9.00	6.00	3.00	0.01
KAG0099	403,722	1,179,595	363	90	11.00	0.00	5.00	<0.01
KAG0099	403,722	1,179,595	363	90	11.00	8.00	3.00	<0.01
KAG0100	403,683	1,179,591	363	90	7.00	0.00	4.00	0.09
KAG0100	403,683	1,179,591	363	90	7.00	4.00	3.00	0.01
KAG0101	403,623	1,179,582	361	90	7.00	0.00	4.00	<0.01
KAG0101	403,623	1,179,582	361	90	7.00	4.00	3.00	0.02
KAG0102	403,576	1,179,595	363	90	7.00	0.00	4.00	0.02
KAG0102	403,576	1,179,595	363	90	7.00	4.00	3.00	0.02
KAG0103	403,523	1,179,596	363	90	7.00	0.00	4.00	0.02
KAG0103	403,523	1,179,596	363	90	7.00	4.00	3.00	<0.01
KAG0104	403,621	1,179,791	369	90	9.00	0.00	4.00	0.02
KAG0104	403,621	1,179,791	369	90	9.00	7.00	2.00	0.02
KAG0105	403,577	1,179,800	366	90	9.00	0.00	3.00	0.02
KAG0105	403,577	1,179,800	366	90	9.00	7.00	2.00	0.06
KAG0106	403,525	1,179,790	368	90	8.00	0.00	3.00	<0.01
KAG0106	403,525	1,179,790	368	90	8.00	6.00	2.00	0.01
KAG0107	403,673	1,179,800	366	90	12.00	0.00	5.00	<0.01
KAG0107	403,673	1,179,800	366	90	12.00	8.00	4.00	<0.01

KAG0108	403,722	1,179,798	369	90	12.00	0.00	3.00	0.03
KAG0108	403,722	1,179,798	369	90	12.00	9.00	3.00	0.02
KAG0109	403,772	1,179,793	369	90	10.00	0.00	3.00	0.08
KAG0109	403,772	1,179,793	369	90	10.00	7.00	3.00	<0.01
KAG0110	403,822	1,179,795	369	90	10.00	0.00	3.00	0.14
KAG0110	403,822	1,179,795	369	90	10.00	7.00	3.00	0.02
KAG0111	403,876	1,179,794	368	90	11.00	0.00	3.00	0.01
KAG0111	403,876	1,179,794	368	90	11.00	8.00	3.00	<0.01
KAG0112	403,925	1,179,789	371	90	11.00	0.00	3.00	0.01
KAG0112	403,925	1,179,789	371	90	11.00	9.00	2.00	0.02

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Sampling	• Nature and quality of sampling (eg cut	• All auger holes were composite sampled
techniques	channels, random chips, or specific specialised	in a routine of 3metre composite
	industry standard measurement tools	samples from surficial laterites and 3m
	appropriate to the minerals under investigation,	composite within the saprolitic zone.
	such as down hole gamma sondes, or handheld	Where there was less than 3metres of
	XRF instruments, etc). These examples should	saprolite intercepted, a composite of the
	not be taken as limiting the broad meaning of	total intercepted saprolite was sampled.
	sampling.
	• Include reference to measures taken to ensure	• Some composite sampling widths varied
	sample representivity and the appropriate	depending on the width of lithological
	calibration of any measurement tools or	unit encountered, some samples were
	systems used.	taken to a minimum of 1m widths.
	• Aspects of the determination of mineralisation	• For all composited samples and
	that are Material to the Public Report.	unsampled intervals the remnant
	• In cases where ‘industry standard’ work has	cuttings have been preserved and are
	been done this would be relatively simple (eg	available for future test work if required.
	‘reverse circulation drilling was used to obtain 1	• Samples were collected in 1m intervals
	m samples from which 3 kg was pulverised to	at the drill site and composited at the
	produce a 30 g charge for fire assay’). In other	base camp, split using a 7 vane riffler
	cases more explanation may be required, such	splitter to obtain a ~2kg representative
	as where there is coarse gold that has inherent	sample.
	sampling problems. Unusual commodities or	• Certified reference materials, duplicates
	mineralisation types (eg submarine nodules)	and blanks were inserted at even
	may warrant disclosure of detailed information.	distribution (1:20 respectively) in the
		sample stream.
		• All grab samples were geologically
		logged by a suitably qualified geologist
		and submitted to SGS Bamako for
		analysis.
Drilling	• Drill type (eg core, reverse circulation, open-	• Auger Drilling was carried out by SIMG
techniques	hole hammer, rotary air blast, auger, Bangka,	mining Services Company using a land
	sonic, etc) and details (eg core diameter, triple	cruiser mounted auger rigs.
	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 sample	• Method of recording and assessing core and	• The collection of sample is done after
recovery	chip sample recoveries and results assessed.	1m drill interval as it recovered by the
	• Measures taken to maximise sample recovery	auger drilling process.
	and ensure representative nature of the	• There was always a geologist present
	samples.	onsite to ensure that the sample was
	• Whether a relationship exists between sample	representative of the individual metre
	recovery and grade and whether sample bias	and did not contain (to minimal)
	may have occurred due to preferential loss/gain	material from further up the drill string.
	of fine/coarse material.

Criteria	JORC Code explanation	Commentary
		• Auger can cause a smearing effect on
		samples during collection due to the
		nature of the process, this effect on the
		resultant grades of the material was
		minimized by using composite samples
		for both the upper and lower samples
		collated.
Logging	• Whether core and chip samples have been	• All samples were geologically logged by
	geologically and geotechnically logged to a	Volt’s in country Geological team.
	level of detail to support appropriate Mineral	• The qualitative system of logging was
	Resource estimation, mining studies and	used to record the necessary
	metallurgical studies.	information from recovered samples.
	• Whether logging is qualitative or quantitative in	Emphasis was placed on the separation
	nature. Core (or costean, channel, etc)	of the upper laterised material and the
	photography.	underlying saprolitic material.
	• The total length and percentage of the relevant	Anomalous minerals and weathering
	intersections logged.	within both geological settings were
		recorded and are available to be used
		for detail post analysis of the primary
		samples.
		• Logging was done in every 1m interval
		sample, with all material auger drilled
		recovered from each metre of the auger
		hole.
Sub-sampling	• If core, whether cut or sawn and whether
techniques	quarter, half or all core taken.	• Auger holes were sampled by
and sample	• If non-core, whether riffled, tube sampled,	compositing 3m interval sample from
preparation	rotary split, etc and whether sampled wet or	the laterite layer and 3 metres of the
	dry.	saprolite located at the base of hole. To
	• For all sample types, the nature, quality and	avoid mixing of laterite and saprolite,
	appropriateness of the sample preparation	sampling was not completed at the
	technique.	interface between the laterites and
	• Quality control procedures adopted for all sub-	saprolites.
	sampling stages to maximise representivity of	• Once all samples were combined from
	samples.	the defined “upper” and “lower” zones,
	• Measures taken to ensure that the sampling is	they were thoroughly mixed prior to
	representative of the in situ material collected,	being split down by a 7 vane splitter to
	including for instance results for field	an approximate 2kg sub-sample. This
	duplicate/second-half sampling.	sample was dried and prepared for
	• Whether sample sizes are appropriate to the	pulverization and reduction to a
	grain size of the material being sampled.	representative sample for analysis by a
		SGS managed laboratory in Bamako,
		Mali. This sample preparation was
		completed to an industry best practice.
		• During sample collation, 15% of the
		sample stream was QAQC samples and
		they were evenly inserted through the
		sample stream. The QAQC samples
		included certified standard materials,
		Blanks and Duplicates. At SGS Mali,
		industry best practice is adopted for
		laboratory sub sampling with avoidance
		of any cross contamination.
		• The collected sample size of around 2kg
		is considered appropriate to reasonably
		represent the material being test.

Criteria	JORC Code explanation	Commentary	Commentary
Quality of	• The nature, quality and appropriateness of the	• Analyses were undertaken at accredited
assay data	assaying and laboratory procedures used and		Laboratory SGS Bamako in Mali which
and	whether the technique is considered partial or		has full certification. The samples were
laboratory	total.		assayed using Fire Assay which is
tests			appropriate for the element being
			determined.
	• For geophysical tools, spectrometers, handheld	• There was no reliance on determination
	XRF instruments, etc, the parameters used in		of analysis by geophysical tools.
	determining the analysis including instrument
	make and model, reading times, calibrations
	factors applied and their derivation, etc.		• Volt Resources QAQC programme
	• Nature of quality control procedures adopted		include the inclusion of 5% certified
	(eg standards, blanks, duplicates, external		standards, 5% field duplicates and 5%
	laboratory checks) and whether acceptable		blank material.
	levels of accuracy (ie lack of bias) and precision
	have been established.
Verification of	• The verification of significant intersections by
sampling and	either independent or alternative company	• Due to early stage of sampling
assaying	personnel.		programme and no reliance on the data
	• The use of twinned holes.		other than to rapidly assess the
	• Documentation of primary data, data entry		prospectivity of the ground for more
	procedures, data verification, data storage		detailed exploration. No independent
	(physical and electronic) protocols.		verification was used.
	• Discuss any adjustment to assay data.	• No twinned holes were completed.
		• The data was captured at site in a hard
			copy form with appropriate entry fields
			to guide the geologist, then captured
			into an excel spreadsheet and later
			uploaded into an access database.
Location of	• Accuracy and quality of surveys used to locate	• A hand-held GPS was used to identify
data points	drill holes (collar and down-hole surveys),		the position of all grab samples (xy
	trenches, mine workings and other locations		horizontal error of 5 metres)
	used in Mineral Resource estimation.	• Reported using WGS 84 grid and UTM
	• Specification of the grid system used.		datum zone 29 North.
	• Quality and adequacy of topographic control.	• Not applicable
Data spacing	• Data spacing for reporting of Exploration	•	Auger holes were located on a nominal
and	Results.		50mx200m spaced pattern.
distribution	• Whether the data spacing and distribution
	is sufficient to establish the degree of	•	Drilling reported is in early exploration
	geological and grade continuity		nature, therefore no mineral resources
	appropriate for the Mineral Resource and		or reserves have been estimated.
	Ore Reserve estimation procedure(s) and
	classifications applied.	•	3m sample composite samples or less
	• Whether sample compositing has been		depending upon the lithological
	applied.		intercept.
Orientation of	• Whether the orientation of sampling achieves	• No orientation drilling was conducted as
data in	unbiased sampling of possible structures and		all holes were vertical and shallow in
relation to	the extent to which this is known, considering		their form.
geological	the deposit type.
structure	• If the relationship between the drilling
	orientation and the orientation of key
	mineralised structures is considered to have

Criteria	JORC Code explanation	Commentary
	introduced a sampling bias, this should be
	assessed and reported if material.
Sample	• The measures taken to ensure sample security.	• The sample’s chain of custody involved
security		the collected samples being shipped
		using company’s car to the guarded base
		camp. When enough samples were
		collected and collated, they were then
		transported to SGS sample collection
		facility in Siguiri using company’s car
		driven by company’s driver.
Audits or	• The results of any audits or reviews of sampling	• No audits or reviews have yet been
reviews	techniques and data.	undertaken.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral	• Type, reference name/number, location and	• The results reported in this report are all
tenement and	ownership including agreements or material	from Kouroussa Exploration Permit
land tenure	issues with third parties such as joint ventures,	number 22982 Located in Kouroussa
status	partnerships, overriding royalties, native title	Prefecture were applied on 22 April for a
	interests, historical sites, wilderness or national	period of 3 years and granted on
	park and environmental settings.	9/9/2020 2020.
	• The security of the tenure held at the time of	The permit is under KB Gold SARLU, KB
	reporting along with any known impediments	Gold are whole owned subsidiaries of
	to obtaining a licence to operate in the area.	Gold Republic Pty Ltd.
		• The Permits is held under KB GOLD
		SARLU, incorporated in Guinea. The
		surface area is administered by the
		Government as native title. The area is
		rural, with small villages.
Exploration	• Acknowledgment and appraisal of exploration	• There is no previous exploration works
done by other	by other parties.	and/or data that has been compiled or
parties		completed by other parties.
Geology	• Deposit type, geological setting and style of	• Birimian Greenstone lode style gold is
	mineralisation.	being targeted.
Drill hole	• A summary of all information material to the	• Results for all the auger near surface
Information	understanding of the exploration results	drilling undertaken with gold anomalies
	including a tabulation of the following	are represented in map format in the
	information for all Material drill holes:	main body of this announcement.
	o easting and northing of the drill hole collar	• Given the reconnaissance nature of the
	o elevation or RL (Reduced Level – elevation	auger drilling for the purpose of
	above sea level in metres) of the drill hole	enhancing the geochemical understanding
	collar	of the project and large number of
	o dip and azimuth of the hole	samples, plan presentation as provided in
	o down hole length and interception depth	the body provides a fair understanding of
	o hole length.	the results and not listing all the results
	• If the exclusion of this information is justified on	does not detract from the understanding
	the basis that the information is not Material	of the report.
	and this exclusion does not detract from the
	understanding of the report, the Competent
	Person should clearly explain why this is the
	case.
Data	• In reporting Exploration Results, weighting	• Grade of composited intervals are
aggregation	averaging techniques, maximum and/or	reported.
methods	minimum grade truncations (eg cutting of high	• Results on the maps are summarized by
	grades) and cut-off grades are usually Material	showing best grade values.
	and should be stated.

Criteria	JORC Code explanation	Commentary
	• Where aggregate intercepts incorporate short	• No metal equivalent reporting is used or
	lengths of high grade results and longer lengths	applied.
	of low grade results, the procedure used for
	such aggregation should be stated and some
	typical examples of such aggregations should
	be shown in detail.
	• The assumptions used for any reporting of
	metal equivalent values should be clearly
	stated.
Relationship	• These relationships are particularly important in	• Since this is an early exploration stage, the
between	the reporting of Exploration Results.	results reported are considered early
mineralisation	• If the geometry of the mineralisation with	exploration reconnaissance in nature.
widths and	respect to the drill hole angle is known, its
intercept	nature should be reported.
lengths	• If it is not known and only the down hole
	lengths are reported, there should be a clear
	statement to this effect (eg ‘down hole length,
	_true width not known’). _
Diagrams	• Appropriate maps and sections (with scales)	• Maps showing the auger holes locations
	and tabulations of intercepts should be included	assays results superimposed with previous
	for any significant discovery being reported	grab sample location assay results.
	These should include, but not be limited to a
	plan view of drill hole collar locations and
	appropriate sectional views.
Balanced	• Where comprehensive reporting of all	• All material available results have been
reporting	Exploration Results is not practicable,	reported.
	representative reporting of both low and high
	grades and/or widths should be practiced to
	avoid misleading reporting of Exploration
	Results.
Other	• Other exploration data, if meaningful and	• No other exploration data that could be
substantive	material, should be reported including (but not	considered meaningful and/or material
exploration	limited to): geological observations;	has been omitted from this report.
data	geophysical survey results; geochemical survey
	results; bulk samples – size and method of
	treatment; metallurgical test results; bulk
	density, groundwater, geotechnical and rock
	characteristics; potential deleterious or
	contaminating substances.
Further work	• The nature and scale of planned further work	• Further auger infill drilling and sampling as
	(eg tests for lateral extensions or depth	defined by the anomalous results noted in
	extensions or large-scale step-out drilling).	this primary series of analyses.
	• Diagrams clearly highlighting the areas of
	possible extensions, including the main
	geological interpretations and future drilling
	areas, provided this information is not
	commercially sensitive.