Idenburg Drill Program to Focus on Resource Expansion

HIGHLIGHTS:

· Independent consultants SMGC reported a total inferred JORC-compliant resource estimate for Idenburg of 4.1 million tonnes at an average grade of 4.1 g/t gold and 3.6g/t silver representing 540,000 ounces of gold and 468,000 ounces of silver (refer to Company ASX announcement of 13 November 2024, 15 December 2024).

· Previous drilling conducted at the Sua prospect in mid-2005 and late 2006 reported gold-bearing intersections in 18 of the 22 holes completed. Results from fresh vein material were KSD001 (4m @ 5.96 g/t Au from 41 metres depth), KSD002 (7.5m @ 13.6 g/t Au from 21 metres, KSD004 (1m @ 33.8 g/t Au from 123 metres),KSD005 (9m @ 4.00 g/t Au from 80 metres), KSD008 (3.0m @ 35.0 g/t Au from 107 metres), KSD010 (3m @ 17.7 g/t Au from 55 metres) and KSD021 (1m @ 23.0 g/t Au from 77 metres). Refer ASX announcement 14 July 2024.

· The resource estimate was comprised of the Sua, Bermol and Mafi prospect areas using historical drillhole data supplemented by newly acquired topographic survey data. These prospects are 3 of the total 14 prospect areas identified by historical exploration and determined to be valid resource targets by SMGC (refer to Company’s ASX announcement of 14 and 21 August 2024).

· Previous exploration focused on circa 30% of the total CoW area while most of the property remains vastly under-explored and holds potential for a significant expansion of the reported resources.

· Independent consultants SMGC reported an Exploration Target for Idenburg of 7.2 million ounces at 6.1 g/t gold as an upper range and 189,000 ounces at 1.0 g/t gold as a lower range. (refer to Company’s ASX announcements of 14 and 21 August 2024).

· The Company will complete a 20 hole, 2,670m program to infill and expand the resources at the Sua, Bermol and Mafi prospect areas. The planned holes will test defined zones along strike and to depth to expand the current areas of resource and complete several infill holes to upgrade the resources to indicated and measured. The holes will also provide composite material for advanced metallurgical test work to further understand mineral recoveries.

· The Company will complete a 12 hole, 1,000m program initial scout drilling at the Kwaplu prospect area. The prospect area is host to a large gold-in-soil geochemical anomaly which has not yet been drill tested.