●    Description of the Mineral Resource estimate used as a basis for the conversion to an Ore Reserve.

●    Clear statement as to whether the Mineral Resources are reported additional to, or inclusive of, the Ore Reserves.

●    Indicated Mineral Resources for the Sanankoro Gold Project, as prepared by SRK Global in 2022, were used as the basis for Ore Reserves.

●    The Ore Reserves, including adjustment for ore loss and dilution factors, are included within the declared Mineral Resources

●    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.

●  Site visits have been undertaken by other Competent personnel for various aspects of the DFS.

●    SENET has also been to site as the main independent consultant and F. Fourie, the CP for the Ore Reserves will rely on their visit.

●    The type and level of study undertaken to enable Mineral Resources to be converted to Ore Reserves.

●    The Code requires that a study to at least Pre-Feasibility Study level has been undertaken to convert Mineral Resources to Ore Reserves. Such studies will have been carried out and will have determined a mine plan that is technically achievable and economically viable, and that material Modifying Factors have been considered.

●    A feasibility level study has been completed for the Project.

●    A mine plan that is technically achievable and economically viable has been completed.

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

●   A financial assessment was undertaken to ascertain whether the Cut-off grade fulfil the criteria of "reasonable prospects for eventual economic extraction" using detailed costs

●    To complete pit optimisation, which forms the basis of the final pit designs, a cut-off grade estimate was performed. The cost per tonne for mining, processing and overhead costs, mining dilution and loss factors, processing plant recoveries and net payable gold, were used, to determine the cut-off grade.

●    A cut-off grade of 0.5g/t was used.

●    The cut-off grade are being used for the Project, and are considered by the CP to be appropriate for the operation, considering the nature of the deposit, and the associated project economics.

● The method and assumptions used as reported in the Pre-Feasibility or Feasibility Study to convert the Mineral Resource to an Ore Reserve (i.e. either by application of appropriate factors by optimisation or by preliminary or detailed design).

●    The choice, nature and appropriateness of the selected mining method(s) and other mining parameters including associated design issues such as pre-strip, access, etc.

●The assumptions made regarding geotechnical parameters (eg pit slopes, stope sizes, etc), grade control and pre-production drilling.

●    The major assumptions made and Mineral Resource model used for pit and stope optimisation (if appropriate).

●    The mining dilution factors used.

●    The mining recovery factors used.

●    Any minimum mining widths used.

●    The manner in which Inferred Mineral Resources are utilised in mining studies and the sensitivity of the outcome to their inclusion.

●    The infrastructure requirements of the selected mining methods.

●   Using the Mineral Resource model, pit optimisations where completed. These formed the basis of final pit designs, which were used in the life of mine schedule. The CP considers the LoM to be appropriate and practically achievable.

●    The mining of Selin, Zone A and Zone B is well suited to typical open pit methods using a backhoe configured excavator and truck fleet which will be operated by a mining contractor.

●    Geotechnical assumptions were based on the various geotechnical drilling and analysis completed by OHMS

●    Modifying factors applied:

o  Mining recovery and dilution:

▪       Selin: Mining recovery 97%, Dilution 8%

▪       Zone A: Mining recovery 94%, Dilution 8%

▪       Zone B: Mining recovery 95%, Dilution 8%

●    The metallurgical process proposed and the appropriateness of that process to the style of mineralisation.

●    Whether the metallurgical process is well-tested technology or novel in nature.

●    The nature, amount and representativeness of metallurgical test work undertaken, the nature of the metallurgical domaining applied and the corresponding metallurgical recovery factors applied.

●    Any assumptions or allowances made for deleterious elements.

●    The existence of any bulk sample or pilot scale test work and the degree to which such samples are considered representative of the orebody as a whole.

●    For minerals that are defined by a specification, has the ore reserve estimation been based on the appropriate mineralogy to meet the specifications?

●      The Sanankoro gold processing plant is designed to process oxide and transition ores from the three main deposits: Selin, Zone A and Zone B ores.

●      The proposed process gravity/carbon-in-leach (CIL) technology, which consists of crushing, milling, and gravity recovery of free gold, followed by leaching/adsorption of gravity tailings, elution and gold smelting, and tailings disposal. The process is well suited to the style of mineralisation.

●      The proposed process plant design is based on a well-proven and established gravity/CIL technology.

●      Extensive test work on oxide ores ore has been completed on samples from the Selin, Zone A and Zone B to cover the entire deposit laterally and at depth, which are considered representative. Only one sample of transition ore from Selin was tested and thus is considered preliminary in nature but however transition constitutes 22% of indicated resource.

Gold is expected to be extracted from each ore type at the following average recoveries:

●      Selin Oxide: 93.0%

●      Zone A oxide: 97.0%

●      Zone B Oxide 93.7%

●      Selin Transition 48.3%

No deleterious elements are indicated in the ore head grade assayed

A bulk sample composite was taken per domain and per weathering zone (and at depth), which are considered representative of the individual domains and zones.

Specifications are not applicable. The product will be in the form of gold doré. The doré bars will be weighed, sampled and assayed before being sent to the precious metal refinery.

● The status of studies of potential environmental impacts of the mining and processing operation. Details of waste rock characterisation and the consideration of potential sites, status of design options considered and, where applicable, the status of approvals for process residue storage and waste dumps should be reported.

●  The Company commissioned Digby Wells to complete an ESIA to both Malian and International standards.  On completion of the ESIA an application for Environmental permit was lodged with the Government and subsequently the permit has been received so the Project is fully permitted from an environmental perspective.

●    The existence of appropriate infrastructure: availability of land for plant development, power, water, transportation (particularly for bulk commodities), labour, accommodation; or the ease with which the infrastructure can be provided or accessed.

●    The Sanankoro Project is a greenfield project - minimal infrastructure has been established on the project site. The on-site infrastructure required will be related to the processing plant and the supporting facilities as follows:

●    In-plant access roads

●    Plant buildings

●    Plant reagents and consumables stores

●    Process plant site drainage

●    Sewage disposal

●    Security

●    Water supply

●    Communications

●    Power supply

●    Fuel supply and storage

●  There is sufficient land available for the development of and access to these items.

●    The main off-site infrastructure required for the development of the project will be the following:

●    Mining infrastructure and buildings

●    Camp and catering facilities

●    Medical facilities

●    Power supply and distribution

●    Fuel storage

●    Communication

●    Water supply system

●    The derivation of, or assumptions made, regarding projected capital costs in the study.

●    The methodology used to estimate operating costs.

●    Allowances made for the content of deleterious elements.

●    The derivation of assumptions made of metal or commodity price(s), for the principal minerals and co- products.

●    The source of exchange rates used in the study.

●    Derivation of transportation charges.

●    The basis for forecasting or source of treatment and refining charges, penalties for failure to meet specification, etc.

●    The allowances made for royalties payable, both Government and private.

The capital cost estimate for the project has been derived from information collated from the following:

●    Life of Mine (LOM) pit production schedule, including stockpiling operations

●    LOM processing plan

●    Mine haul road designs and layouts

●    Process plant design criteria

●    General layouts of the process plant and related infrastructure

●    Tailings Storage Facility (TSF) development schedule and operations

●    Process flow diagrams

●    Process plant equipment data sheets and lists

●    Process plant piping and instrumentation diagrams

●    Process plant line, valve, and instrument lists

●    Electrical single-line diagrams and motor lists

●    Electrical reticulation routes

●    Various discipline material take-offs

●    Quotations from vendors on mechanical and/or process equipment

●    Quotations from vendors on main construction contracts

●    EPCM schedules

●    In-house historical databases

●    The mining operating costs were obtained from contractor quotations.

●    General and Administration costs were determined from first principles and by using information from SENET's in-house database for similar projects from the same locality.

●    The process plant operating costs were compiled from a variety of sources:

●    First principles, where applicable

●    Supplier quotations on reagents and consumables

●    SENET's in-house experience and database where applicable

●    Allowances have been made for royalties and taxes based on the current applicable mining laws

●    The derivation of, or assumptions made regarding revenue factors including head grade, metal or commodity price(s) exchange rates, transportation and treatment charges, penalties, net smelter returns, etc.

●    The derivation of assumptions made of metal or commodity price(s), for the principal metals, minerals and co-products.

●    A life-of-mine production schedule was derived from the mine design and the geological block model. The production schedule was used to generate monthly estimates of the mined tonnes and grade

●    Rate based on trends and or as applicable or advised by the management which needs to be in-line with the market trend and or various commitments

●    The demand, supply and stock situation for the particular commodity, consumption trends and factors likely to affect supply and demand into the future.

●    A customer and competitor analysis along with the identification of likely market windows for the product.

●    Price and volume forecasts and the basis for these forecasts.

●    For industrial minerals the customer specification, testing and acceptance requirements prior to a supply contract.

●    Based on market and operation requirements

●    The inputs to the economic analysis to produce the net present value (NPV) in the study, the source and confidence of these economic inputs including estimated inflation, discount rate, etc.

●    NPV ranges and sensitivity to variations in the significant assumptions and inputs.

●    Based on assumptions that built the financial model in line with existing industry norm assumptions around gold price, discount rate and other factors.

●    The status of agreements with key stakeholders and matters leading to social licence to operate.

●    An ESIA has been completed that has given guidance that will be reviewed an implanted as appropriate as the Project starts to be developed.

●    To the extent relevant, the impact of the following on the project and/or on the estimation and classification of the Ore Reserves:

●    Any identified material naturally occurring risks.

●    The status of material legal agreements and marketing arrangements.

●    The status of governmental agreements and approvals critical to the viability of the project, such as mineral tenement status, and government and statutory approvals. There must be reasonable grounds to expect that all necessary Government approvals will be received within the timeframes anticipated in the Pre-Feasibility or Feasibility study. Highlight and discuss the materiality of any unresolved matter that is dependent on a third party on which extraction of the reserve is contingent.

●    As required by laws and or regulation of the country. A mining permit is required for the Project but the Company see no reasons that this would not be granted.

●    The basis for the classification of the Ore Reserves into varying confidence categories.

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

●    The proportion of Probable Ore Reserves that have been derived from Measured Mineral Resources (if any).

●    Indicated Mineral Resources within the pit designs and which are above the nominated cut-off grade, have been classified as Probable Ore Reserves.

●    It is the opinion of the Competent Persons for Ore Reserves that the results are an appropriate reflection of the deposit. ∙ No Probable Ore Reserves have been classified from Measured Mineral Resources.

●    The results of any audits or reviews of Ore Reserve estimates.

●    No external audits or reviews of the Ore Reserve has been completed

●    Where appropriate a statement of the relative accuracy and confidence level in the Ore Reserve 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 reserve within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors which 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.

●    Accuracy and confidence discussions should extend to specific discussions of any applied Modifying Factors that may have a material impact on Ore Reserve viability, or for which there are remaining areas of uncertainty at the current study stage.

●    It is recognised that this may not be possible or appropriate in all circumstances. These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.

●      The Ore Reserve has been completed to feasibility standard with the data being generated from a tightly spaced drilling grid, thus confidence in the resultant figures is considered high.