Waste Tip Bulk Sampling

- Bulk sampling has now commenced with indicative timelines:

- April – Trenching

- May – Processing of bulk samples to gold concentrate

- June – refining and smelting

Underground Bulk Sampling

- Bulk sampling to extract approx. 150 tonnes of rock from 2 newly developed raises:

- April/May – Site mobilisation

- June/July – Blasting, Ore removal and sorting

- July/August -Ore processing to gold concentrate and refining & smelting

Level 4 sampling

- 40 samples taken from the Llechfraith Target

- Processed onsite to heavy mineral concentrates

- Concentrate composites sent to 3rd party facility to determine Gold content

Airbourne survey

- Airborne survey continuing

- Results expected from the 1st survey end of March

Market Intelligence

- ALBA has completed all necessary permitting and statutory notifications

- All onsite processing equipment working to specification

- First 3rd part results on Gold concentrates expected shortly

George Frangeskides, Executive Chairman, commented:

"We are really pleased to have now passed the final regulatory step in our planned bulk sampling of our primary underground target within the Lower Llechfraith workings and also at the historic Clogau Waste Tip. As a result, those exercises can now proceed.

"The Waste Tip bulk sampling will proceed along a shorter timeline, as described below, reflecting the much more straightforward nature of that exercise. The underground bulk sampling, meanwhile, as one would expect, involves greater complexity in terms of engineering, logistics and safety aspects, not to mention the blasting of a significant volume of rock and its removal to surface for sorting and processing. Nonetheless, we expect to commence both processes in April.