Nabanga Project

Located 250 kilometers south-east of Ouagadougou, the Nabanga Gold Project lies within the Nabanga exploration permit.

Inferred Resources

The data for the inferred resource estimate comprised 239 reverse-circulation (RC) and 14 diamond drill holes with collars spaced nominally over a grid of 40 meters along the strike by 20 meters across strike, with holes inclined between 60-75 degrees to the south-east intersecting the mineralization at about 45 degrees to normal. Drilling completed (253 drill holes) by Orbis at Nabanga defined a high grade gold discovery.

Table 1: Nabanga Mineral Resource (Yactibo Permit Group) as at June 25, 2015

Classification Oxidation state Tonnes Mt Au g/t Ounces Koz
Inferred Resources Oxide 0.08 8.9 20

Fresh 1.76 10.1 570
Inferred total 1.84 10.0 590

(1) Nabanga Mineral Resource, reported above a 5.0 g/t Au cut-off grade

The technical report has been filed on www.sedar.com or can be accessed here.

Exploration

In 2017, we focused on deepening our geological interpretation and understanding of the mineralization. The resulting new interpretation suggests a shallow north plunge of the mineralized shoots, many of which remain open at depth.

This year, a budget of $4 million has been allocated to the property to test the new interpretation. The program consists of 10,000 meters of diamond and 70,000 meters of auger drilling, most of which will be completed in the first half of the year. The diamond drill program has been designed to test the extensions of the known mineralized shoots at depth as well as repetitions.

Current Interpretation (Grade x Thickness)