TIJIRIT PROJECT

The Tijirit Gold Project is located in northwestern Mauritania, 25 kilometers southeast of Kinross’ Tasiast Gold Mine. The project is a district-scale orogenic gold camp with development stage gold deposits within multiple pits. The 26-year mining permit consists of a single 150 square-kilometer area with enormous exploration upside with multiple styles of structurally controlled gold mineralization and multiple untested structural targets. A feasibility study is scheduled for completion in the first half of 2022.

Highlights

• Ownership: 75% Aya, 15% Government of Mauritania, and 10% Wafa Mining
• M&I mineral resources: 4.1 Mt grading 2.19 g/t Au for 292,600 oz (Eleonore 1.58Mt @ 4.21 g/t Au for 214,700 oz): May 2021
• Inferred mineral resources: 10.2Mt grading 1.63 g/t Au for 533,200 oz (Eleonore 2.7Mt @ 3.21 g/t Au for 280,500 oz Au): May 2021
• 26-year mining permit comprising 5 zones over a 150-km2 area
• Four major prospects -Eleonore, Eleonore East, Sophie, and Lily- host M&I resources
• Completion of feasibility study by Q2 2022, together with maiden mineral reserves estimate
  • Initial focus on Eleonore and Eleonore East deposits
  • Base-case scenario of a 1,000-tpd processing plant, easily expandable to 2,000 tpd