Key Highlights

• Joint Ventures: Golkor & AMBEX: 50/50 partnership AMBEX & Landowners: Agreement for 159 small claim mining licenses with the Landowners Association, retaining 20% of gold production. AMBEX & Claim Holders: 80/20 joint venture with two groups holding 10 mining licenses
• Licenses: 30 km² (Area 1: 16.2 km², 49 small claims; Area 2: 54 km², 110 small claims)
• Location: Obuasi Ghana area, southern extension of AngloGold Ashanti’s Obuasi Gold Mine, producing 450,000 oz/ year with 24.5 million oz in reserves. Golkor’s licenses to the south span 4km of the same gold trend
• Geology: High-grade quartz veins within the Proterozoic gold belt, extending 4 km from Obuasi, with active gold recovery by local miners.
• Infrastructure: 500 tpd CIP plant scheduled construction on purchased land near the exploration license. Offices set up in Obuasi and local skilled workforce readily available
• Permitted Operations: Current operations at the project are fully permitted, allowing for underground mining and mill operations, with all necessary environmental, state and municipal clearances
• Operations: The company will conduct direct openpit and underground mining in high grade locations approximately 1.4 km distance to the plant for best economical output. Additionally, gold bearing ore will be accepted from the 159 licensed local land association miners, processed at a 500 tpd CIP plant, scaling to 1,000 tpd in 2nd phase of expansion
• Drilling Program: An extensive drilling program is started while the company continues to define and expand its gold reserves
• Mine Life: 5+ years, with ore averaging 8 g/ton