MENU Reserves & Resources New Luika Gold Mine NLGM Reserves The total reserves position for NLGM as of 30 June 2020 is given below: Deposit and classification Ore tonnes (kt) Ore grade (g/t Au) Contained Ounces (koz) Recoverable Ounces (koz) Ore Reserves – Underground 2,237 4.10 295 266 Ore Reserves – Open Pit 1,704 2.10 115 104 Total Ore Reserve 3,941 3.23 410 370 NLGM Underground Reserves1 Deposit Cut-off grade (“COG”) (g/t) Ore tonnes (kt) Ore grade (g/t Au) Contained ounces (koz) Recoverable Ounces (koz) Bauhinia Creek (“BC”) 1.9 634 5.29 108 97 Luika 1.6 1,041 3.17 106 96 Ilunga 2.0 367 4.63 55 49 BC North 1.9 196 4.18 26 24 Total Ore Reserve - Underground 2,237 4.10 295 266 Note: 1. Reserve estimates assume application of long-hole open-stoping. Economic evaluations are at a gold price of US$1,350 /oz. An assumed gold recovery of 90% has been applied. NLGM Open Pit Ore Reserves1 Deposit COG (g/t) Ore tonnes (kt) Ore grade (g/t Au) Contained Ounces (koz) Recoverable Ounces (koz) Black Tree Hill 0.6 580 2.12 40 36 Elizabeth Hill 0.6 901 2.11 61 55 Bauhinia Creek East 0.7 21 3.25 2 2 Shamba 0.7 129 1.80 7 7 Bauhinia Creek North 0.6 73 1.96 5 4 Total Ore Reserve - Open Pit 1,704 2.10 115 104 Note: 1. Economic evaluations are at a gold price of US$1,350 /oz. An assumed gold recovery of 90% has been applied. NLGM Mineral Resource Estimate – COG 1.0 g/t (June 2020) Deposit Measured Indicated Inferred Total Resource Tonnes (kt) Grade (Au_g/t) Ounces (koz) Tonnes (kt) Grade (Au_g/t) Ounces (koz) Tonnes (kt) Grade (Au_g/t) Ounces (koz) Tonnes (kt) Grade (Au_g/t) Ounces (koz) Jamhuri - - - 613 1.82 36 760 1.62 40 1,373 1.71 75 Shamba - - - 167 2.16 12 104 1.61 5 271 1.95 17 Elizabeth Hill 2 1.73 0 1,585 2.25 115 639 1.52 31 2,226 2.04 146 Black Tree Hill 176 2.36 13 1,079 1.94 67 506 1.26 20 1,762 1.79 101 Ilunga - - - 542 3.57 62 550 3.59 63 1,092 3.58 126 Luika 799 3.41 88 1,762 2.98 169 730 2.18 51 3,291 2.91 308 Bauhinia Creek - - - 964 5.28 164 1,027 1.99 66 1,991 3.58 229 Bauhinia Creek North - - - 356 3.68 42 45 3.14 5 401 3.62 47 Bauhinia Creek East - - - 20 3.84 2 2 3.45 0 22 3.80 3 Luika South - - - 118 3.67 14 178 3.15 18 296 3.35 32 Black Tree Hill North - - - 114 1.78 7 37 1.40 2 151 1.69 8 Grand Total 977 3.22 101 7,320 2.93 690 4,578 2.05 301 12,876 2.64 1,091 The Singida Project JORC 2012 Reserve (26 May 2020) Deposit COG (g/t) PROBABLE RESERVES Ore tonnes (kt) Ore grade (g/t Au) Contained Ounces (koz) Recoverable Ounces (koz) Cornpatch 0.79 294 3.46 33 29 Cornpatch West 0.78 294 3.46 33 29 Gold Tree 0.74 1,366 3.37 148 133 Gustav 0.78 129 1.7 7 6 Jem 0.74 324 2.86 30 27 Kaizer Chief 0.78 142 1.65 8 7 Vivian 0.74 125 2.38 10 9 Grand Total 0.75 2,514 3.00 243 218 Mineral Resource Estimate (26 May 2020) Deposit MEASURED INDICATED INFERRED TOTAL RESOURCES TONNES GRADE OUNCES TONNES GRADE OUNCES TONNES GRADE OUNCES TONNES GRADE OUNCES (kt) g/t (koz) (kt) g/t (koz) (kt) g/t (koz) (kt) g/t (koz) CORNPATCH 117 2.00 8 336 1.98 22 517 2.36 39 970 2.18 69 CORNPATCH WEST - - - 824 2.52 67 565 1.87 34 1,389 2.26 101 GOLD TREE 1,139 3.66 135 1,294 2.39 100 3,274 2.02 213 5,707 2.43 447 GUSTAV - - - 148 1.49 7 783 1.85 47 932 1.79 54 JEM 376 2.99 36 542 2.67 46 532 2.92 50 1,451 2.84 133 KAIZER CHIEF - - - 475 1.67 25 354 1.98 22 828 1.80 48 VIVIAN - - - 405 2.97 38 125 3.40 14 529 3.07 52 TOTAL 1,632 3.39 179 4,024 2.36 305 6,150 2.12 418 11,806 2.38 904 The West Kenya Project West Kenya Mineral Resource Estimate A maiden NI43-101 compliant Inferred Mineral Resource Estimate (MRE) on the Isulu and Bushiangala prospects was announced in 2017. The latest update of the MRE was completed in May 2018: Mineral Resource Category Prospect COG (Au g/t) Tonnes (t) Mean Grade (Au g/t) Ounces (oz) Inferred Isulu 2.0 2,527,300 13.0 1,060,300 Inferred Bushiangala 7.0 382,400 9.9 122,000 Total 2,909,700 12.6 1,182,300 DOWNLOADS Presentations 2016 Annual Report Latest News All News Subscribe for News Submit Corporate About Us Board of Directors Management Corporate Governance History Operations Overview New Luika Gold Mine Singida Exploration Reserves & Resources Tanzania Investors Overview Presentations Stock & Share Information Financial Reports Events Calendar Analyst Coverage AIM Rule 26 Sustainability Our People Health & Safety Community Environment News & Media News Media Contact Contact Details Request for Information Advisers & Consultants Designed & Powered by BLENDER © Copyright 2017 Shanta Gold