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C O R P O R AT E P R E S E N TAT I O N
JULY
2016
W E S T A F R I C A N
G O L D E X P LO R AT I O N
IMPORTANT NOTICE
This presentation has been prepared by Kodal Minerals plc (“Kodal Minerals” or the “Company”) and does not constitute an offer or invitation for the sale or purchase ofany securities, nor does it, nor does it purport to, set out or refer to all or any of the information an investor might require or expect in making a decision as to whether ornot to deal in shares in the Company.
This presentation does not constitute and is not a prospectus or listing particulars (under either the Prospectus Regulations 2005 (as amended), the Financial Services andMarkets Act 2000 (“FSMA”) or the Prospectus Rules of the Financial Conduct Authority) nor does it comprise an AIM admission document for purposes of the AIM Rulesfor Companies published by the London Stock Exchange plc and should not be construed as such. No representation or warranty or other assurance, express or implied, ismade by or on behalf of the Company or any of its respective directors, officers, employees, advisers or any other persons as to the fairness, accuracy or completeness ofthe information or estimates or opinions or other statements about the future prospects of the Company or any of its respective businesses contained in or referred to inthe presentation given in connection therewith and no responsibility, liability or duty of care whatsoever is accepted by any such person in relation to any suchinformation, projection, forecast, opinion, estimate or statement.
This presentation has not been approved as a financial promotion for the purposes of section 21 of FSMA or otherwise. Accordingly, it is being delivered for informationpurposes only to a very limited number of persons and companies who are persons who have professional experience in matters relating to investments and who fallwithin the category of person set out in Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or are high net worthcompanies within the meaning set out in Article 49 of the Order or are otherwise permitted to receive it. Any other person who receives this presentation should not relyor act upon it. By accepting this presentation and not immediately returning it, the recipient represents and warrants that they are a person who falls within the abovedescription of persons entitled to receive the presentation.
This presentation may not be (i) taken or transmitted into the United States of America, (ii) distributed, directly or indirectly, in the United States of America or to any USperson (within the meaning of regulations made under the Securities Act 1933, as amended), (iii) taken or transmitted into or distributed in Canada, Australia, the Republicof Ireland or the Republic of South Africa or to any resident thereof, or (iv) taken or transmitted into or distributed in Japan or to any resident thereof. Any failure tocomply with these restrictions may constitute a violation of the securities laws or the laws of any such jurisdiction. The distribution of this document in other jurisdictionsmay be restricted by law and the persons into whose possession this document comes should inform themselves about, and observe, any such restrictions.This presentation must not be copied, reproduced, published, distributed, disclosed or passed to any other person at any time without the prior written consent theCompany.
SP Angel Corporate Finance LLP (the "Broker") is acting in the provision of corporate finance business to the Company, within the meaning of the Financial ConductAuthority’s Conduct of Business Sourcebook (“COBS”), and no-one else in connection with the proposals contained in this presentation. Accordingly, recipients shouldnote that the Broker is neither advising nor treating as a client any other person and will not be responsible to anyone other than the Company for providing theprotections afforded to clients of the Broker under the COBS nor for providing advice in relation to the proposals contained in this presentation.
Please note that the information in this presentation has yet to be announced or otherwise made public and as such constitutes relevant information for the purposes ofsection 118 of FSMA and non-public price sensitive information for the purposes of the Criminal Justice Act 1993. You should not therefore deal in any way in thesecurities of the Company until after the formal release of an announcement by the Company as to do so may result in civil and/or criminal liability.
By accepting a copy of the presentation you agree to be bound by the foregoing provisions.
Forward-looking StatementsThis presentation may contain forward-looking statements. These statements relate to the future prospects, developments and business strategies of the Company and itssubsidiaries (the “Group”). Forward-looking statements are identified by the use of such terms as “believe”, “could”, “envisage”, “estimate”, “potential”, “intend”, “may”,“plan”, “will” or the negative of those, variations or comparable expressions, including references to assumptions. The forward-looking statements contained in thepresentation are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed orimplied by those statements. If one or more of these risks or uncertainties materialises, or if underlying assumptions prove incorrect, the Group’s actual results may varymaterially from those expected, estimated or projected. Given these risks and uncertainties, potential investors should not place any reliance on forward-lookingstatements. These forward-looking statements speak only as at the date of the presentation.
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | | 2
P r o v e n t e a m
KODAL SNAPSHOT
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | | 3
W e s t A f r i c a f o c u s e d E x c e l l e n t J V p a r t n e r sS i g n i f i c a n t e x p o s u r e t o a
p r o s p e c t i v e p o r t f o l i o o f g o l d
e x p l o r a t i o n p r o j e c t s i n C o t e
d ’ I v o i r e a n d M a l i – a p l a t f o r m f o r
o r g a n i c g r o w t h a n d v a l u e
a c c r e t i v e c o r p o r a t e a c t i o n s
J o i n t v e n t u r e a g r e e m e n t s i n
p l a c e w i t h m a j o r g l o b a l g o l d
p r o d u c i n g c o m p a n i e s –
s i g n i f i c a n t l y d e - r i s k s p r o j e c t s
O p p o r t u n i s t i c a c q u i s i t i o n
s t r a t e g y
U p s i d e
N e w s f l o w
P r o s p e c t i v e p o r t f o l i o o f g o l d
e x p l o r a t i o n p r o j e c t s i n C o t e
d ’ I v o i r e a n d M a l i a n d u p s i d e
f r o m c o p p e r - z i n c a n d
p h o s p h a t e / i r o n c o n c e n t r a t e
p r o j e c t s i n N o r w a y
N e a r - t e r m e x p l o r a t i o n r e s u l t s
f r o m W e s t A f r i c a n p r o j e c t s w i t h
w o r k p r o g r a m m e s o n - g o i n g
t h r o u g h o u t 2 0 1 6 a n d p r o j e c t
p i p e l i n e g e n e r a t i o n
A c t i v e & e x p e r i e n c e d
m a n a g e m e n t t e a m w i t h a b i l i t y t o
e n s u r e c o n t i n u e d s u c c e s s f u l
i m p l e m e n t a t i o n o f s t r a t e g y
A c t i v e a p p r a i s a l s t r a t e g y t a r g e t i n g
a d v a n c e d p r o j e c t s a n d s t r a t e g i c
m i n e r a l s i n W e s t A f r i c a – a s s e s s i n g
p o t e n t i a l f o r l i t h i u m m i n e r a l i s a t i o n
o n e x i s t i n g t e n e m e n t s p l u s w i d e r
o p p o r t u n i t i e s
THE MODEL
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | | 4
Target prospective
geological region -
identify areas with
limited exploration
but with artisanal
mining
Compare targets to
other mines in the
region
Geological mapping,
geochemical
sampling and
reconnaissance
drilling
Prioritise areas for
more detailed
exploration to prove
prospectivity
Identify JV Partner -
mining & E&P
companies with a
strong technical
focus
Negotiate farm-in
terms and build a
portfolio of projects
that have JV partners
Develop pipeline to
evaluate and
implement strategy
This model has resulted in JV and
farm-out agreements on four
l icence areas with exploration
spend of up to
US$4.7 mill ion providing Kodal
with a free-carry and upside
P ro v e n a n d e f f e c t i v e l o w - c o s t d e v e l o p m e n t m o d e l
t h a t c r e a t e s va l u e
KEY DATA
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | | 5
T i c k e r M a r k e t C a pS h a r e
P r i c e
S h a r e s
i n I s s u e
5 2 W e e k
R a n g eB r o k e r N o m a d
K O D . L £ 1 . 3 8 m 0 . 0 3 7 p 3 , 7 7 4 , 8 5 4 , 8 4 9 0 . 2 3 - 0 . 0 3 p S P A n g e lA l l e n b y
C a p i t a l
1 Year Share Price Graph
23.7
6.6
5.3
Key Shareholders
Pelamis & D Steinepreis Tetra Minerals Directors
BOARD OF DIRECTORS
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | | 6
Robert Wooldridge – Non Executive DirectorChartered Accountant qualified from PWC in 1989 following a degree in Natural Sciences from Cambridge
University. He joined the international equity capital markets division of HSBC Investment Bank in 1994 where he was
responsible for completing a number of landmark equity transactions across Europe, India and the Middle East &
Africa. Robert is currently a partner at SP Angel (founding partner). SP Angel is an independent corporate finance
and broking operation which focuses on advising small and mid cap companies in the mining, oil and gas and
technology sectors.
Luke Bryan – Chief Technical OfficerLuke is a mining engineer with over 20 years of international experience. Most recently he was chief executive officer
of North River Resources, an AIM quoted mineral exploration company and prior to that he worked as
an independent consultant. Luke has worked throughout Africa, Australia, the Former Soviet Union and Europe. He
holds degrees in Mining Engineering and Economics from Auckland University.
Bernard Aylward – Chief Executive OfficerGeologist and Manager who has over 20 years experience across West Africa, Australia and Europe. Bernard has
relevant extensive experience in West Africa project acquisition, exploration and development. He was a founding
Director of ASX listed Taruga Gold Limited and has been instrumental in Kodal’s acquisition of the International
Goldfields (Bermuda) Limited projects.
WEST AFRICAN PROJECT LOCATIONS
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | | 7
M A L I
C O T E
D ’ I V O I R E
W E S T A F R I C A – H O S T
T O S I G N I F I C A N T G O L D
M I N E S :
• A H A F O – G H A N A ,
O P E R A T E D B Y
N E W M O N T M I N I N G
C O R P .
• T O N G O N – C O T E
D ’ I V O I R E , O P E R A T E D B Y
R A N D G O L D R E S O U R C E S
L I M I T E D
• S Y A M A – M A L I ,
O P E R A T E D B Y R E S O L U T E
M I N I N G L I M I T E D
• L O U L O – M A L I ,
O P E R A T E D B Y
R A N D G O L D R E S O U R C E S
L I M I T E D
• O B O U A S I – G H A N A ,
O P E R A T E D B Y
A N G L O G O L D A S H A N T I
L I M I T E D
KODAL’S WEST AFRICAN PORTFOLIO
WEST AFRICAN OPPORTUNITY
• Africa has high discovery rate per exploration dollar invested
• Projects located in proven gold mineralised districts with highly prospective geology
• Excellent locations with access to infrastructure and cost efficient exploration
• Under-explored region highly leveraged to early stage exploration success
• Increasing corporate activity from other gold operators• Perseus Mining Limited acquisition of Amara Mining Plc• Additional exploration in the region e.g. Randgold Resources in Cote
d’Ivoire
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | | 8
Source MinEX Consulting, July 2013Source USGS Mineral Commodity Summary, 2009
Country % Birimian Greenstone Gold Discovered % Gold
Cote d’Ivoire 35% 8Moz 4%
Burkina Faso 22% 12Moz 7%
Ghana 19% 110Moz 62%
Guinea 11% 12Moz 7%
Mali 10% 33Moz 19%
Senegal 3% 3Moz 2%
We s t A f r i c a n
B i r i m i a n
G re e n s t o n e
s e q u e n c e h a s a
g o l d
e n d o w m e n t o f
o v e r 1 7 0
m i l l i o n o u n c e s Region Exploration Spend Number Discoveries
Latin America $28 (23%) 118 23%
Canada $22 (18%) 65 12%
China and Rest of World $22 (19%) 77 15%
Africa $17 (14%) 116 22%
Australia $12 (10%) 83 16%
USA $9 (8%) 20 4%
Pacific / SE Asia $6 (5%) 23 4%
Western Europa $3 (3%) 22 4%
PORTFOLIO
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | | 9
KODALPROJECTS
JOINT VENTUREPROJECTS
PIPELINEPROJECTS
N A N G A L A S S OG o l d i n M a l i
K O R H O G OG o l d i n C o t e
d ’ I v o i r e
B O U N D I A L IG o l d i n C o t e
d ’ I v o i r e
S L A MG o l d i n M a l i
N I E L L EG o l d i n C o t e
d ’ I v o i r e
T I E B I S S O UG o l d i n C o t e
d ’ I v o i r e
M’BAHA I KOG o l d i n C o t e
d ’ I v o i r e
D A B A K A L AG o l d i n C o t e
d ’ I v o i r e
G R I M E L I C o p p e r - Z i n c i n
N o r w a y
K O D A LP h o s p h a t e & i r o n
i n N o r w a y
A D D I T I O N A L
W E S T A F R I C A N
O P P O R T U N I T I E S
Tota l spend
commitments
of US$4 .7
mi l l ion on
the West
A f r i can Go ld
P ro ject s
MALI PROJECTS –NANGALASSO
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | | 10
Tw o l i c e n c e a r e a s l o c a t e d i n a
h i g h l y - m i n e r a l i s e d d i s t r i c t a n d
j u s t 3 0 k m f r o m R e s o l u t e ’ s S y a m a
m i n e
• Concessions held under option
agreements
• Reconnaissance drilling returned 3m at
7.12g/t gold within 21m at 1.25g/t gold,
1m at 7.8g/t gold and 3m at 7.84g/t gold
• High-grade mineralised results from
reconnaissance trench sampling of 7m at
4.3g/t gold in quartz veining and alteration
located 200m north of previous drilling
• Vertical sampling targeting the profile of
the trench returned assays up to 2.9 g/t
gold from surface
• Extensive artisanal workings not previously
targeted by further testing
• 2016 work programme:
• Trenching results in July
• Air core drilling in
September/October
• RC drilling to follow
COTE D’IVOIRE PROJECTS –WHOLLY OWNED
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | | 11
L o c a t e d i n g o l d m i n e r a l i s e d
b e l t s , w i t h e a r l y s t a g e
e x p l o r a t i o n r e t u r n i n g g o l d
a n o m a l i s m
• Additional wholly owned projects in central
and northern Cote d’Ivoire
• Korhogo
• First pass geochemical sampling
completed
• Additional geochemical sampling
planned in 2016
• Boundiali
• Application in process
• Geochemical sampling planned
once licence awarded
MALI PROJECTS –SLAM
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | | 12
R i g h t s t o t w o l i c e n c e s a r e a s ,
K a m b a l i a n d D j e l i b a n i ,
a c q u i r e d f r o m N e w m o n t
M i n i n g C o r p .
• Licence areas held under option agreements
• Extensive artisanal workings highlight near surface gold mineralisation
• Located in “Siguiri Basin” sequence, host to extensive gold mineralisation including Siguiri Mine (AngloGold Ashanti Limited), Lefa Gold Mine (Nord Gold N.V.) and Tri-K Project (Avocet Mining plc)
• Extensive geochemical anomalies, with surface samples up to 6g/t gold returned. Anomalous zones of greater than 1g/t gold extend for over 500m
• Wide-spaced reconnaissance drilling at Kambali returns highly encouraging results including:
• 3m at 5.64g/t gold from 3m within a zone of 6m at 2.88g/t gold from 3m
• 6m at 1.12g/t gold from 30m to end of hole within a broad zone of 15m at 0.62g/t from 21m
• Work programme in 2016• Geochemical sampling at Djelibani Sud• Follow up drilling at Kambali
COTE D’IVOIRE PROJECTS –RESOLUTE JOINT VENTURE
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | | 13
• Agreement signed February 2015
• Following completion of earn-in phase (to Feb 2019), Kodal will have continued 25% interest in projects with a free carry through to completion of feasibility studies
• Exploration activity commenced at Tiebissou:• Geological mapping• Geochemical sampling• First-pass Aircore drilling in February 2016
• Minimum spend of US$500,000
Expenditure commitment of US$3.0
million by Resolute
Earning a 75% interest in three
licences – Tiebissou and Nielle
exploration licences and the M’Bahaikro licence application
Two licence areas located in a
highly-mineralised district just
30km from Resolute’s Syama mine
COTE D’IVOIRE PROJECTS –NEWCREST FARM-IN
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | | 14
• Agreement signed December 2015
• Newcrest confirmed anomalous gold trends through regional stream sediment, rock chip and laterite sampling programme as part of its project review
• Major exploration campaign planned to infill strong geochemical anomalies prior to drilling
Expenditure of US$1.7 million by
Newcrest
Earning a 75% interest in Dabakala
Project
US$750,000 minimum spend in first
12 months (by 14 December 2016)
NORWEGIAN PROJECTS
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | | 15
K o d a l M i n e r a l s h a s t w o
l i c e n c e g r o u p s i n N o r w a y ,
t h e G r i m e l i P r o j e c t i n t h e
w e s t a n d t h e K o d a l P r o j e c t
i n t h e s o u t h
• The Grimeli Project is a copper-zinc
exploration project 150km north of Bergen
• The Grimeli Project licences cover three
historic copper mines
• The Kodal Project is an advanced resource
project which has the potential to produce
phosphate and iron concentrates
• The Kodal Project has a JORC compliant
resource of:
• 14.6Mt at 2.26% P (5.18% P2O5)
and 24.12% Fe (Indicated)
• 34.3Mt at 2% P (4.59% P2O5) and
20.38% Fe (Inferred)
ACTIVE NEWSFLOW
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | 16
RESULTS FROM
NANGALASSOTRENCHING
AIRCORE DRILLING RESULTS FROM NANGALASSO
GEOCHEMISTRY RESULTS FROM COTE D’IVOIRE
RESULTS FROM
NEWCREST JVWORK
RC DRILLING AT NANGALASSO
GEOCHEMICAL SAMPLING AT SLAM
INVESTMENT CASE
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | 17
Significant gold
mines
Clear Strategy
Low cost
exploration &
expansion potential
Team
Capital structure
& newsJV & Farm-In
Both Mali & Cote d’Ivoire host significant gold mines and have supporting infrastructure
Low cost exploration methods to highlight value and significant upside potential from large strategic licence areas
Clear strategy to acquire prospective ground and develop through joint venture partnerships
Expansion and strengthening of management team
Operating Joint Venture and Farm-In with major gold producing companies in Cote d’Ivoire
Recent capital raising to support ongoing exploration activity and drive strong pipeline of news through 2016
CONTACTS
JUN
E 2
016
K O D A L M I N E R A L S
B E R N A R D AY L W A R D
T: +61 418 943 345
E: bernard@kodalminerals.com
L U K E B R Y A N
T: 020 3470 0470
E: luke@kodalminerals.com
S P A N G E L
R I C H A R D P A R L O N S / E L I Z A B E T H J O H N S O N
T: 020 3470 0472 / 0471
E: richard.parlons @spangel.co.uk
E: elizabeth.johnson@spangel.co.uk
S T B R I D E S PA R T N E R S
L O T T I E B R O C K L E H U R S T / S U S I E G E L I H E R
T: 020 7236 1177
E: lottie@stbridespartners.co.uk
JUN
E 2
016
APPENDIX
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | 20
• Resolute mining is a global gold producer, explorer and developer. The company is
listed on ASX and has a market cap of AUD $368.91mn (c. £195mn).
• The Company has 25 years of experience of gold production and has operated 9
gold mines across Australia and Africa, producing over 7mn oz of gold.
• Currently, Resolute operates 2 gold mines, the Syama mine in Africa and the
Ravenswood mine in Australia.
• The company is also expecting to complete the feasibility study of the Bibiani Gold
Project in Ghana by June 2016. The scoping study derived a mining inventory of
4.3Mt @ 4.2g/t Au for 574,000 ounces for a 5.5 year mine life from the indicated
resource.
2015 highlights:
• Over 328,000oz of gold produced at AUD $845 per oz.
• Record gold production achieved at Syama mine, demonstrating solid asset base
and robust cash generation capabilities.
• Golden Pride Project closure handover to the Government of Tanzania completed.
FY2016 guidance:
• Production: 315,000oz Au
• Cash cost: AUD $990 per oz.
• All-in-sustaining cost: AUD $1,280 per oz
RESOLUTE MINING
Share price: 1 year
RESOLUTE MINING
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | 21
RESOLUTE MINING
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | 22
COTE D’IVOIRE PROJECTS –RESOLUTE JOINT VENTURE
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | | 23
E x p e n d i t u r e o f U S $ 3 . 0 m i l l i o n b y R e s o l u t e
t o e a r n 7 5 % i n t e r e s t i n 3 l i c e n c e s –
T i e b i s s o u a n d N i e l l e e x p l o r a t i o n l i c e n c e s
a n d t h e M ’ B a h a i k r o l i c e n c e a p p l i c a t i o n
• Agreement signed February 2015
• Following completion of earn-in
phase (to Feb 2019), Kodal will have
continued 25% interest in projects
with a free carry through to
completion of feasibility studies
• Exploration activity commenced at
Tiebissou:
• Geological mapping
• Geochemical sampling
• First-pass Aircore drilling
completed
• Minimum spend of US$500,000
KODAL’S JV CONCESSIONS WITH RESOLUTE
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | 24
• Newcrest mining is the largest ASX-listed gold producer with a
market capitalisation of AUD $13.30bn (c. £6.87bn). The Company
is also listed on the Port Moresby Stock Exchange.
• The Company is well-known for operating and owning a portfolio
of low cost, long-life mines. Newcrest also has a significant
pipeline of brownfield and greenfield exploration projects.
• Newcrest’s mines are located in Australia, Papua New Guinea
(PNG), Indonesia, and in Côte d’Ivoire, West Africa. Current
operations include:
Cadia Valley Operations (near Orange, New South Wales)
Telfer (Pilbara Region, Western Australia)
Gosowong (Halmahera Island, Indonesia)
Lihir (New Ireland Province, PNG)
Hidden Valley (Morobe Province, PNG)
Bonikro (Côte d’Ivoire, West Africa)
NEWCREST MINING
Share price: 1 year
NEWCREST MINING
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | 25
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | 26
NEWCREST MINING
• F Y 2 0 1 5 h i g h l i g h t s :
• G o l d p r o d u c t i o n : 2 . 4 2 m o z
( u p 1 % o n F Y 2 0 1 4 )
• C o p p e r p r o d u c t i o n : 9 6 , 8 1 6 t n
( u p 1 2 % o n F Y 2 0 1 4 )• G r o u p A I S C : U S $ 7 8 9
p e r o z
( d o w n 1 2 % o n F Y 2 0 1 4 )• G r o u p A I S C m a r g i n
i n c r e a s e d t o U S $ 4 4 7 p e r o z
• N e t d e b t r e d u c t i o n o f A U D $ 1 7 4 m ( c . £ 9 2 m )
2 0 1 6 P r o d u c t i o n G u i d a n c e
NEWCREST MINING
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | 27
COTE D’IVOIRE PROJECTS –NEWCREST FARM-IN
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | | 28
E x p e n d i t u r e o f U S $ 1 . 7
m i l l i o n b y N e w c r e s t t o e a r n
7 5 % i n D a b a k a l a P r o j e c t
• Agreement signed December 2015
• Newcrest confirmed anomalous gold
trends through regional stream
sediment, rock chip and laterite
sampling programme as part of its
project review
• Major exploration campaign planned
to infill strong geochemical
anomalies prior to drilling
• Preliminary results expected in H2
2016
• US$750,000 minimum spend in first
12 months (by 14 December 2016)
CONCESSION SUMMARY
Details of Licences
NAME HolderSize
km2 Expiry DateRenew-
ableComment
Cote d'Ivoire
Korhogo IGS CIV SARL 360.6 07/01/2017 Y
Dabakala IGS CIV SARL 394.5 07/01/2017 Y Newcrest JV
Niele Corvette CIV SARL 388 11/03/2017 Y Resolute JV
Tiebissou-Didievi Corvette CIV SARL 306.7 30/09/2018 Y Resolute JV
Mali
Nangalasso Gold Corporation Mali SARL 95 03/02/2020 Y Held under Option
Sotian La Societe Drame et Freres SARL 250 29/04/2017 n Held under Option
Djelibani Sud Gold Corporation Mali SARL 106 28/10/2016 Y Held under Option
Kambali Tourekounda SARL 33 13/07/2016 n Held under Option
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | | 29
Option Agreements Nangalasso and Sotian (Nangalasso
Project)
Exclusive access rights for exploration and devlopment
Annual fees of US$40,000 (Nangalasso) and US$30,000 (Sotian)
Option to acquire for US$500,000 each
Payment of NSR
royalty:
- Nangalasso 3%
- Sotian 2%
Option Agreements Djelibani Sud and Kambali (SLAM Project)
Exclusive access rights for exploration and devlopment
Will attain full ownership on payment of final amounts:
- Djelibani Sud US$25,000
- Kambali US$80,000 (reduction under negotiation)
COMPETENT PERSONS’ STATEMENT
C O R P O R A T E P R E S E N T A T I O N | J U N E 2 0 1 6 | 30
The information in this presentation that relates to geological information and exploration results concerning the IGS assets is based oninformation compiled by Mr Bernard Aylward. Mr Aylward is the Managing Director of Taruga Gold Limited and is a full-time employee. MrAylward is a proposed director of the Company. Mr Aylward is a member of The Australasian Institute of Mining and Metallurgy and hassufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he isundertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results,Mineral Resources and Ore Reserves’. Mr Aylward consents to the inclusion in this presentation of the matters based on information in theform and context in which it appears.
The Grimeli Project drilling results contained in this presentation have been reviewed by Mr. Galen White - Principal Geologist, CSA Global(UK) Ltd. Mr White is a Fellow in good standing of the Australasian Institute of Mining and Metallurgy (FAusIMM) and a Fellow of theGeological Society of London (FGS) with sufficient experience to act as Competent Person under the JORC Code (2012). Mr White hasreviewed the information contained herein, alongside drill logs, sampling information, core photography and SGS laboratory analysis data.Mr White consents to the disclosure of drilling results in the form and context in which they appear.
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