Resolute Mining Regulatory News (RSG)

Resolute

James Virgo, GM Finance, and Investor Relations

contact@rml.com.au

+61 8 9261 6100

Media

Cameron Morse, FTI Consulting

cameron.morse@fticonsulting.com

+61 433 886 871

Public Relations

Jos Simson / Emily Moss, Tavistock

resolute@tavistock.co.uk

+44 207 920 3150 / +44 7788 554 035

Corporate Broker

Matthew Armitt / Jennifer Lee, Berenberg

+44 20 3207 7800

Criteria

JORC Code Explanation

Commentary

Sampling techniques

· Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.

· Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

· Aspects of the determination of mineralisation that are Material to the Public Report.

· In cases where 'industry standard' work has been done this would be relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.

The samples were collected from reverse circulation (RC) and diamond drill holes.

RC samples were collected on 1m intervals by riffle split (dry) or by scoop (wet), to obtain a 1-3kg sample which was sent to the laboratory for crushing, splitting and pulverising to provide a 30g charge for analysis. Following splitting adjacent to the bottom-of-hole orientation line, the right-hand side of the core is sampled in 1m intervals

Sampling and sample preparation protocols are industry standard and are deemed appropriate by the Competent Person.

Drilling techniques

· Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple 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 types used include reverse circulation with face sampling bit and core drilling using PQ and HQ sized bits. A digital core orientation system is used to define the bottom of the hole which is transferred to the drilled core..

Drill sample recovery

· Method of recording and assessing core and chip sample recoveries and results assessed.

· Measures taken to maximise sample recovery and ensure representative nature of the samples.

· Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

Appropriate measures are taken to maximise sample recovery and ensure the representative nature of the samples.

No apparent relationship is noted between sample recovery and grade.

Logging

· Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

· Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.

· The total length and percentage of the relevant intersections logged.

Drill holes were geologically logged by geologists for colour, grainsize, lithology, minerals, alteration and weathering on geologically-domained intervals.

Holes were logged in their entirety (100%) and this logging was considered reliable and appropriate.

Sub-sampling techniques and sample preparation

· If core, whether cut or sawn and whether quarter, half or all core taken.

· If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.

· For all sample types, the nature, quality and appropriateness of the sample preparation technique.

· Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

· Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.

· Whether sample sizes are appropriate to the grain size of the material being sampled.

Reverse circulation samples were collected on 1m intervals by riffle split (dry) or by scoop (wet) to obtain a 1-3kg sample. Core samples were sawn using a diamond saw blade with half of the core sent for analysis.

Sample preparation includes oven drying, crushing to 10mm, splitting and pulverising to 85% passing -75µm. These preparation techniques are deemed to be appropriate to the material being sampled.

Reverse circulation and core field duplicates were collected by the company at a rate of 1:20 samples.

Sampling, sample preparation and quality control protocols are of industry standard and all attempts were made to ensure an unbiased representative sample was collected. The methods applied in this process were deemed appropriate by the Competent Person.

Quality of assay data and laboratory tests

· The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

· For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

· Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.

All samples were dispatched to ALS Bamako for gold analysis by 30g fire assay fusion with AAS instrument finish (method code Au-AA25). Over-range results were re-analysed and reported by 30g fire assay fusion with gravimetric finish (method code Au-GRA21). The analytical method was appropriate for the style of mineralisation.

No geophysical tools were used to determine elemental concentrations.

Quality control (QC) procedures included the use of certified standards (1:40), non-certified sand blanks (1:40) and reverse circulation/core field duplicates (1:20).

Laboratory quality control data, including laboratory standards, blanks, duplicates, repeats, grind size results and sample weights were also captured into the digital database.

Analysis of the QC sample assay results indicates that an acceptable level of accuracy and precision has been achieved.

Verification of sampling and assaying

· The verification of significant intersections by either independent or alternative company personnel.

· The use of twinned holes.

· Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

· Discuss any adjustment to assay data.

Verification of significant intersections have been completed by company personnel and the Competent Person.

No drill holes within the resource area were twinned.

Drill holes were logged into digital templates with lookup codes, validated and then compiled into a relational SQL 2012 database using DataShed data management software. The database has verification protocols which are used to validate the data entry. The drill hole database is backed up on a daily basis to the head office server.

Assay result files were reported by the laboratory in PDF and CSV format and imported into the SQL database without adjustment or modification.

Location of data points

· Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

· Specification of the grid system used.

· Quality and adequacy of topographic control.

Collar coordinates were picked up in UTM (WGS84) by staff surveyors using an RTK DGPS with an expected accuracy of +/-0.05m; elevations were height above EGM96 geoid.

Down hole surveys were collected at 10m intervals using a Reflex EZ-Gyro north seeking instrument.

Coordinates and azimuths are reported in UTM WGS84 Zone 29 North.

Tabakoroni drill holes were translated to local mine grid coordinates using 1 point and rotation.

Local topographic control is via LIDAR surveys, satellite photography and drone UAV aerial survey.

Data spacing and distribution

· Data spacing for reporting of Exploration Results.

· Whether the data-spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

· Whether sample compositing has been applied.

Drill hole spacing was sufficient to demonstrate geological and grade continuity appropriate for a Mineral Resource and the classifications applied under the 2012 JORC Code.

The appropriateness of the drill spacing was reviewed by the geological technical team, both on site and head office. This was also reviewed by the Competent Person.

Samples were collected on 1m intervals; no sample compositing is applied during sampling.

Orientation of data in relation to geological structure

· Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

· If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

Holes were drilled predominantly perpendicular to mineralised domains where possible.

No orientation-based sampling bias has been identified in the data.

Sample security

· The measures taken to ensure sample security.

Samples were collected from the drill site and stored on site. All samples were individually bagged and labelled with unique sample identifiers, then securely dispatched to the laboratories. All aspects of sampling and dispatch process were supervised and tracked by SOMIFI personnel.

Audits or reviews

· The results of any audits or reviews of sampling techniques and data.

External audits of procedures indicate protocols are within industry standards.

CRITERIA

JORC CODE EXPLANATION

COMMENTARY

Mineral tenement and land tenure status

· Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

· The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.

Drilling at Syama was conducted within the Malian Exploitation Concession Permit PE 93/003 which covers an area of 200.6 Km2.

Resolute Mining Limited has an 80% interest in the Syama project and the Exploitation Permit PE 93/003, on which it is based, through its Malian subsidiary, Sociêtê des Mines de Syama SA (SOMISY). The Malian Government holds a free carried 20% interest in SOMISY.

Tabakoroni drilling was completed within the Finkolo-Tabakoroni Exploitation Licence PE 13/19. Resolute Mining Limited has an 90% interest in Exploitation Permit PE 13/19, through its Malian subsidiary, Société des Mines de Finkolo SA (SOMIFI). The Malian Government holds a free carried 10% interest in SOMIFI.

The Permits are held in good standing. Malian mining law provides that all Mineral Resources are administered by DNGM (Direction Nationale de la Géologie et des Mines) or National Directorate of Geology and Mines under the Ministry of Mines, Energy and Hydrology.

Exploration done by other parties

· Acknowledgment and appraisal of exploration by other parties.

The Syama deposit was originally discovered by a regional geochemical survey undertaken by the Direction National de Géologie et des Mines (DNGM) with assistance from the United Nations Development Program (UNDP) in 1985. There had also been a long history of artisanal activities on the hill where an outcropping chert horizon originally marked the present day position of the open pit.

BHP during 1987-1996 sampled pits, trenches, auger, RC and diamond drill holes across Syama prospects. Randgold Resources Ltd during 1996-2000 sampled pits, trenches, auger, RAB, RC and diamond drill holes across Syama prospects.

Etruscan Resources Inc explored Tabakoroni during 2002-2003 by auger, aircore, RC and diamond drill hole tails. The Tabakoroni area was previously explored Barrick Gold (1990) by auger, pits, trenches, RAB and diamond core drilling.

Geology

· Deposit type, geological setting and style of mineralisation.

The Syama Project is found on the northern margin of the Achaean-Proterozoic Leo Shield which forms the southern half of the West African Craton. The project area straddles the boundary between the Kadiana-Madinani terrane and the Kadiolo terrane. The Kadiana-Madinani terrane is dominated by greywackes and a narrow belt of interbedded basalt and argillite. The Kadiolo terrane comprises polymictic conglomerate and sandstone that were sourced from the Kadiana-Madinani terrane and deposited in a late- to syntectonic basin.

Prospects are centred on the NNE striking, west dipping, Syama-Bananso Fault Zone and Birimian volcano-sedimentary units of the Syama Formation. The major commodity being sought is gold.

The Tabakoroni deposit is hosted in upright tightly folded greenstone rocks of the Syama Formation, comprising interbedded basalt and sediment units, and an overlying complex sequence of deep marine and turbiditic sediments. The sequence overlying the basalts contains interbedded carbonaceous units (silts and shales) that are preferentially deformed, and which form the Tabakoroni Main Shear Zone (TMSZ) that lies along the approximate contact of the greenstone-sediment sequence. Gold mineralisation occurs within the TMSZ associated with quartz vein stockworks and stylolitic quartz reefs.

Drill hole Information

· A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:

o  easting and northing of the drill hole collar

o  elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar

o  dip and azimuth of the hole

o  down hole length and interception depth

o  whole length.

· If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

All information, including easting, northing, elevation, dip, azimuth, coordinate system, drill hole length, intercept length and depth are measured and recorded in UTM Zone 29 WGS84.

The Syama belt is mostly located on the Tengrela 1/200,000 topo sheet (Sheet NC 29-XVIII).

The Tabakoroni local grid has been tied to the UTM Zone 29 WGS84 co-ordinate system.

Spectrum Survey & Mapping from Australia established survey control at Tabakoroni using AusPos online processing to obtain an accurate UTM Zone 29 (WGS84) and 'above geoid' RL for the origin of the survey control points.

Accuracy of the survey measurements is considered to meet acceptable industry standards.

Drill hole information has been tabulated for this release in the intercepts table of the accompanying text.

For completeness the following information about the drill holes is provided:

· Easting, Northing and RL of the drill hole collars are measured and recorded in UTM Zone 29 (WGS84)

· Dip is the inclination of the drill hole from horizontal. A drill hole drilled at -60° is 60° from the horizontal

· Down hole length is the distance down the inclination of the hole and is measured as the distance from the horizontal to end of hole

· Intercept depth is the distance from the start of the hole down the inclination of the hole to the depth of interest or assayed interval of interest.

Data aggregation methods

· In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.

· Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths 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.

Exploration results reported in this announcement are tabulated using the following parameters:

· Grid coordinates are WGS84 Zone 29 North

· Cut-off grade for reporting of intercepts is >=1g/t Au

· No top cut of individual assays prior to length weighted compositing of the reported intercept has been applied

· Maximum 3m consecutive internal dilution included within the intercept

Metal equivalent values are not used in reporting.

Relationship between mineralisation widths and intercept lengths

· These relationships are particularly important in the reporting of Exploration Results.

· If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.

· If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. 'down hole length, true width not known').

The Syama mineralisation is steeply dipping at approximately 60 degrees from the horizontal.

The majority of the Tabakoroni mineralisation is vertical. There is one domain which dips at 45o to the west.

The majority of the drill holes are planned at a general inclination of ‑60 degrees east and as close to perpendicular to the ore zone as possible.

At the angle of the drill holes and the dip of the ore zones, the reported intercepts will be slightly more than true width.

Diagrams

· Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

Relevant maps, diagrams and tabulations are included in the body of text.

Balanced reporting

· Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced, to avoid misleading reporting of Exploration Results.

Exploration results and infill drilling results are being reported in this announcement and tabulated in the body of the text.

Other substantive exploration data

· Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; 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.

No geophysical and geochemical data or any additional exploration information has been reported in this release, as they are not deemed relevant to the release.

Further work

· The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).

· Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

Further drilling is planned.

Criteria

JORC Code Explanation

Commentary

Database integrity

· Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes.

· Data validation procedures used.

Data have been compiled into a relational SQL database; the setup of this database precludes the loading of data which do not meet the required validation protocols. The data is managed using DataShed© drill hole management software using SQL database techniques. Validation checks are conducted using SQL and DataShed© relational database standards. Data has also been checked against original hard copies for 85% of the data, and where possible, loaded from original data sources.

Resolute carried out the following basic validation checks on the data supplied prior to resource estimation:

Ø Drill holes with overlapping sample intervals;

Ø Sample intervals with no assay data or duplicate records;

Ø Assay grade ranges;

Ø Collar coordinate ranges;

Ø Valid hole orientation data.

There are no significant issues identified with the data.

Site visits

· Comment on any site visits undertaken by the Competent Person and the outcome of those visits.

· If no site visits have been undertaken indicate why this is the case.

No site visit has been undertaken by the Competent Person due to the recency of employment by the Company. A site visit is planned for October 2022.

Geological interpretation

· Confidence in (or conversely, the uncertainty of) the geological interpretation of the mineral deposit.

· Nature of the data used and of any assumptions made.

· The effect, if any, of alternative interpretations on Mineral Resource estimation.

· The use of geology in guiding and controlling Mineral Resource estimation.

· The factors affecting continuity both of grade and geology.

The digital database used for the interpretation included logged intervals for the key stratigraphic zones.

Drill density (25m by 50m) for the majority of the deposit area allows for interpretation of the geology and mineralized domains. More recent infill/verification drilling of selected more structurally complicated areas, confirms the positions of mineralized zones. Geological and structural controls support modelled mineralized zones.

Continuity of mineralization is affected by proximity to structural conduits, stratigraphic position, lithology of key stratigraphic units and porosity of host lithologies.

The interpretations for the weathering surfaces have been compiled by site geological personnel using the drill hole database and the logs identifying Oxide, Transitional and Fresh material.

Dimensions

· The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource.

The Syama North area extends for approximately 6,000 metres in strike and the west dipping gold mineralised zone is between 200-500 metres in horizontal width. The Mineral Resource is limited in depth by drilling, which extends from surface to a maximum depth of approximately 350 metres vertically.

Estimation and modelling techniques

· The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen include a description of computer software and parameters used.

· The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data.

· The assumptions made regarding recovery of by-products.

· Estimation of deleterious elements or other non-grade variables of economic significance (e.g. sulphur for acid mine drainage characterization).

· In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed.

· Any assumptions behind modelling of selective mining units.

· Any assumptions about correlation between variables.

· Description of how the geological interpretation was used to control the resource estimates.

· Discussion of basis for using or not using grade cutting or capping.

· The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.

Estimation of gold grade has been completed using Ordinary Kriging (OK).

The deposit mineralisation has been constrained by wireframes constructed using a combination of downhole gold assay and associated lithological logging. These lode wireframes have been used to define domain codes used for estimation. The drillholes have been flagged with the domain code and composited using the domain code to segregate the data.

Domain boundary analysis has been undertaken, with hard boundaries used for all domains.

Drillholes have been composited to 1m intervals using Leapfrog Geo 2021.2.5 with residual lengths distributed evenly across all composites. There are no residual samples.

The influence of extreme gold assays has been reduced by top-cutting across selected domains. Top-cuts have been determined using a combination of log probability, log histogram, and mean-variance plots. Top-cuts have been reviewed and applied to the composites on a domain-by-domain basis.

Variography has been determined using Datamine Supervisor v.8.14 software using top-cut values. Where there is insufficient data in individual domains to generate meaningful variograms, domains have been grouped, or variograms borrowed from other similar domains.

Drillhole data spacing ranges from 10m spacing in areas of dense drilling to approximately 100m spacing in sparsely drilled, deeper areas.

The block model parent block size is 5m (X) by 10m (Y) by 5m (Z) with sub-blocks down to 0.3125m (X) by 0.625m (Y) by 0.3125m (Z), with the sub-blocks estimated at the scale of the parent block. The block size is considered appropriate for the drillhole spacing throughout the deposit.

Grade estimation has been completed in three passes:

Ø Pass 1 estimation has been undertaken using a minimum and maximum number of sample composites (determined using Datamine Supervisor v.8.14 KNA tool) into a search ellipsoid with dimensions equal to half the variogram range of the domain.

Ø Pass 2 estimation has been undertaken with the same minimum/maximum samples as Pass 1 into a search ellipsoid twice the first pass.

Ø Pass 3 estimation has been undertaken with a minimum of 4 samples, and the same maximum number of samples as the first two passes into a search ellipsoid twice the second pass

Ø A four drillhole limit has been applied to the passes.

Previous Mineral Resource estimates are comparable in size and scope when considering the additional extensional drilling included in the current estimate.

The Mineral Resource estimate has been validated using visual validation tools, mean grade comparisons between the block model and declustered composite grade means, and swath plots comparing the input composite grades and the block model grades by Northing, Easting, and RL

No selective mining units are assumed in the estimate.

There will be no by-products recovered from mining.

No additional or deleterious elements have been estimated.

The model focuses on interpreting mineralisation beneath existing open pits. Historical reconciliation data is incomplete and has not been used.

Moisture

· Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.

Tonnages are estimated on a dry basis. No moisture values have been reviewed.

Cut-off parameters

· The basis of the adopted cut-off grade(s) or quality parameters applied.

Mining factors or assumptions

· Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, external) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential mining methods, but the assumptions made regarding mining methods and parameters when estimating Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the mining assumptions made.

It is assumed that mining methods would be similar to Resolute's nearby Syama deposit.

Mining method for the extraction of gold at Syama was previously by open pit mining excavating benches of 2.5 metres in height. Grade control is conducted on sampling from high quality reverse circulation drilling, spaced at approximately 4mE by 10mN, with samples taken at one and half metre intervals down-hole. Sub-Level Caving (SLC) is used for underground mining at Syama.

The Underground model was generated from the 250m RL to the -400m RL. Open pit methods will be used by Resolute to the 120mRL. The reconciliation, geological continuity, structural trends and metallurgical factors experienced within the open pit are assumed to apply to the underground.

Metallurgical factors or assumptions

· The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions regarding metallurgical treatment processes and parameters made when reporting Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the metallurgical assumptions made.

Extensive metallurgical investigations and reporting have been completed prior to the commencement of mining and milling at the nearby Syama deposit.

The processing method involves crushing, milling, flotation and roasting, followed by conventional CIL recovery.

There is no evidence to suggest that the metallurgical characteristics of ore extracted from Syama North would change from that encountered at Syama.

Environmental factors or assumptions

· Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider the potential environmental impacts of the mining and processing operation. While at this stage the determination of potential environmental impacts, particularly for a green fields project, may not always be well advanced, the status of early consideration of these potential environmental impacts should be reported. Where these aspects have not been considered this should be reported with an explanation of the environmental assumptions made.

It is assumed that environmental factors would be largely similar to those at the nearby Syama Deposit.

It is a requirement of Decree No.03-594/P-RM of 31 December 2003 of Malian law that an Environmental and Social Impact Study (Étude d'Impact Environmental et Social - EIES) must be undertaken to update the potential environmental and social impacts of the mine's redevelopment. In November 2007 the EIES for the Syama Gold Mine was approved and an Environment Permit (07- 0054/MEA - SG) issued by the Ministry of Environment and Sanitation on the 22 November 2007.

At Syama there are three key practices for disposal of wastes and residues namely, stacking of waste rock from open pit mining; storage of tailings from mineral processes; and "tall-stack dispersion" of sulphur dioxide from the roasting of gold bearing concentrate.

The Environmental & Social Impact Study - "Société des Mines de Syama, Syama Gold Mine, Mali, dated 2007, found "a minimal potential for acid drainage from waste rock, as historical analysis indicates that the high carbonate content of the material will suppress any potential acid generation." Progressive rehabilitation of waste rock landforms has begun and a management plan for waste rock dumping is the subject of ongoing development.

The landform of tailings impoundments does not have a net acid generating potential. The largest volume is flotation tailings where the sulphide minerals have already been removed from the host rock. Its mineralogy includes carbonates which further buffer any acid-formation potential from sulphides that may also be present.

Cyanide levels in the leached-calcine tailings are typically less than 50 ppm in the weak acid dissociable form. Groundwater away from the tailings landform is intercepted by trenches and sump pumps.

Sulphur dioxide is generated from the roasting of gold concentrate so that gold can be extracted and refined. Tall-Stack "dispersion" of the sulphur dioxide emission is monitored continuously. Prevailing weather and dissipation of the sulphur dioxide is modelled daily to predict the need to pause the roasting process in order to meet the air quality criteria set out in the Environmental & Social Impact Study.

Bulk density

· Whether assumed or determined. If assumed, the basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples.

· The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs, porosity, etc), moisture and differences between rock and alteration zones within the deposit.

· Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.

Bulk density values have been determined through analysis of rock and diamond core samples.

A total of 576 bulk density measurements have been gathered using the water immersion method.

An average bulk density value has been assigned to each of the oxide, transitional, and fresh material across the deposit.

Classification

· The basis for the classification of the Mineral Resources into varying confidence categories.

· Whether appropriate account has been taken of all relevant factors (i.e. relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology and metal values, quality, quantity and distribution of the data).

· Whether the result appropriately reflects the Competent Person's view of the deposit.

Mineral Resources were classified in accordance with the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC, 2012).

The deposit has been classified as Measured, Indicated, and Inferred Mineral Resource based on a combination of quantitative and qualitative criteria which include geologic continuity, confidence in volume models, data quality, sample spacing, lode continuity, and estimation parameters (number of informing composites, estimation pass number, kriging quality parameters, and minimum and average distance composites).

The Measured portion of the Resource was defined using areas populated on the first estimation pass, within 20m of informing composites; the kriging efficiency and slope of regression were generally >=0.7; and high confidence exists in lode continuity (strike and thickness).

The Indicated portion of the Resource was defined using areas populated on the first two estimation passes within 50m of informing composites; the kriging efficiency and slope of regression were generally >=0.7; and moderate to high confidence exists in lode continuity (strike and thickness).

Mineralisation that not classified by the above parameters has been classified as Inferred.

The input data is comprehensive in its coverage and does not favour or misrepresent the in situ mineralisation. The definition of the mineralised zones is based on a high level of geologic understanding from good quality sample data, producing models of continuous mineralised lodes. Validation of the block model shows good correlation of the input data to the block estimated grades.

The Mineral Resource estimate appropriately reflects the view of the Competent Person.

Audits or reviews

· The results of any audits or reviews of Mineral Resource estimates.

No external audit of the Resource has been completed.

Discussion of relative accuracy/ confidence

· Where appropriate a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the estimate.

· The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used.

· These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.

The relative accuracy of the Mineral Resource estimate is reflected in the reporting of Measured, Indicated and Inferred as per the guidelines of the 2012 JORC Code.