SINGIDA PROJECT

Location

• Ikungi Administrative District, Singida Region, central Tanzania

Size

• Three prospecting licences covering approx 52 km²
• Three mining licences covering 30 km²

Ownership

• One of the mining licences is wholly owned by Shanta Mining Company Ltd (SMCL); a portion of another is owned 90% by Shanta with the balance held in a Joint Venture with GL Jossue & JB Joel Limited. The third licence is held by the Joint Venture in the same proportion.
• Ownership of the prospecting licences is 100% with Shanta Mining.

Project status

• During early 2020 a JORC 2012 compliant gold reserve of 243koz at 3.00g/t was declared. This Reserve represents a 50% conversion of the Project’s independently verified Measured and Indicated Resource.