Overview

GOLKOR has entered a 50/50 joint venture with AMBEX Ghana Limited
GOLKOR retains an option to acquire 90% of AMBEX Ghana Limited
AMBEX has a joint venture agreement (80/20) with two individuals which each hold 5 small claim mining licenses
GOLKOR shall purchase ore from these locations to be processed at its CIP Plant 1.4km away
AMBEX has purchased land located adjacent to it’s production area where it will build the CIP Plant with Golkor
GOLKOR will begin open cut mining and ship ore to its CIP Plant
AMBEX has applied for an exploration license encompassing a total of 30km2 where it plans to commence a drilling program to determine a resource
Within the pending exploration license are two areas; Area 1 which is 16.2km2 and contains 49 small mining claims and Area 2 which is 54km2 and contains 110 small mining claims
These 159 small mining claims fall under the Landowners Association which AMBEX currently has a joint venture agreement with whereby the
Landowners Association will retain a 20% ownership from the production and processing of gold from their properties
In addition, GOLKOR will also be purchasing existing ore from these 159 small claim mining licenses to process at its CIP plant