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Teranga Gold’s Golden Hill Exploration Update Includes Strong Grades and Excellent Correlation at Multiple Prospects and a New Discovery at Peksou North

Jackhammer Hill drill results include 22.1 g/t gold over 8 metres and 29.5 g/t gold over 3 metres

TORONTO, July 12, 2018 (GLOBE NEWSWIRE) -- Teranga Gold Corporation ("Teranga" or the "Company") (TSX:TGZ) (OTCQX:TGCDF) is pleased to announce that its most recent diamond drill program on the Golden Hill property in Burkina Faso, West Africa has returned near surface and deeper gold intersections that will enhance resources at a number of advanced prospects. In addition, the recent drilling evaluation program identified a new near-surface discovery at Peksou North, one of 9 prospects drilled at Golden Hill over the past 18 months. 

Figure 1
Golden Hill Property – Prospect Location Plan Map


Figure 2
Jackhammer Hill Plan Map


Figure 3
Jackhammer Hill Prospect – Representative Drill Section C-C’


Figure 4
C-Zone Plan Map


Figure 5
C-Zone Prospect - Representative Drill Section C-C’ (0+80 NE)


Figure 6
C-Zone Prospect – Representative Section D-D’ (0+80 E)


Figure 7
Peksou North Prospect – Plan Map


Figure 8
Peksou North Prospect – Representative Drill Section A-A’ (0+00)


Figure 9
Ma North Prospect – Plan Map


Figure 10
A-Zone and B-Zone - Plan Map


Figure 11
Nahiri and Nahiri Plateau Prospects – Plan Map


Teranga has an earn-in agreement on Golden Hill with Boss Resources Limited (ASX:BOE) pursuant to which Teranga, as operator, can earn an 80% interest in the joint venture upon delivery of a feasibility study and the payment of AUD2.5 million.

Highlight Results

Jackhammer Hill Prospect

  • 8 m @ 22.1 g/t gold, including 1 m @ 125.6 g/t gold (GHDD-320) uncut grade from 115 m downhole depth (DHD) (Refer to Table 1 in Appendix 1 for both uncut and cut grade intervals for GHDD-320)

  • 3 m @ 29.5 g/t gold, including 1 m @ 84.7 g/t gold (GHDD-334) from 138 m DHD

C-Zone Prospect

  • 10 m @ 4.22 g/t gold, including 1 m @ 10.27 g/t gold (GHDD-308) from 120 m DHD

  • 10 m @ 2.58 g/t gold, including 2 m @ 7.41 g/t gold from 21 m DHD, and 6 m @ 3.36 g/t gold, including 2 m @ 6.60 g/t gold (GHDD-312) from 89 m DHD

Peksou North Prospect (New High-Grade Discovery)

  • 3 m @ 14.36 g/t gold, including 1 m @ 32.2 g/t gold (GHDD-349) uncut grade from 27 m DHD (Refer to Table 3 in Appendix 1 for both uncut and cut grade intervals for GHDD-349)

  • 40 m @ 1.11 g/t gold (GHDD-346) from 24 m DHD

“Golden Hill continues to provide new discoveries and strong intervals of very good grade, near-surface gold from a variety of prospects in the run-up to our end-of-year initial resource estimation announcement,” said Richard Young, CEO. “Results from Jackhammer Hill, in particular, build upon prior drill results and continue to grow an already exciting high-grade gold domain along trend and to depth. Drilling across the entire Golden Hill property supports increasing confidence that this project could represent Teranga’s third gold mine in West Africa, moving Teranga into mid-tier producer status.”

“Our advanced-stage exploration drilling program at Golden Hill continues to provide a high rate of drilling success. This phase of the program further demonstrated excellent continuity from a series of very good grade gold intersections at multiple proximal prospects while prospects such as Peksou North demonstrate that opportunity remains for new discoveries,” said David Mallo, Vice President, Exploration. “Drilling through the remainder of 2018 is designed to enhance our understanding of the controlling influences on the gold mineralizing systems at our various prospect areas and to continue expanding the resource base prior to our initial estimation.”

Work at Golden Hill is moving rapidly. Teranga is investing $8 million in project drill programs in 2018. The Company plans to announce an initial resource estimate for the most advanced prospects by year-end. Preliminary metallurgical test work programs are underway with base line environmental studies to follow later this year. Upon satisfaction of certain conditions precedent relating to the project’s initial preliminary economic assessment, Teranga has secured $25 million in debt financing to advance the Golden Hill project through to feasibility.

Golden Hill Property

The Golden Hill property is comprised of three adjacent exploration permits covering 470 km2 in southwest Burkina Faso in the central part of the Houndé Greenstone Belt. This belt hosts a number of high-grade gold discoveries, including the Siou, Yaramoko and Houndé deposits, the latter being contiguous with Golden Hill.

This news release provides an update on exploration drilling results from a number of prospects recently evaluated as part of our ongoing advanced exploration program at Golden Hill. All advanced stage exploration prospects at Golden Hill are located within six kilometres of a central point (Figure 1 in Appendix 2).

Drilling was undertaken recently at Jackhammer Hill, C-Zone, Peksou North, Ma North, A-Zone, B-Zone and Nahiri. Please refer to Appendix 1 for significant results (Tables 1 – 6) and Appendix 2 for plan maps and representative sections related to this drill program. Cumulative results from all Golden Hill drilling are available on the Company’s website www.terangagold.com under Exploration.

Over the remainder of the year, significant drilling will be undertaken on all the advanced prospects listed above, as well as at Peksou and Ma.

/EIN News/ -- Jackhammer Hill Prospect: High-Grade Mineralization Hosting Visible Gold

Recent drilling at the Jackhammer Hill prospect has been limited while exploration drilling was focused elsewhere. More extensive drilling has been earmarked for the upcoming quarter at Jackhammer Hill as Teranga has the flexibility to drill this prospect during the rainy season. In the coming months, drilling will focus on increasing both lateral and depth extensions of the high-grade mineralization. 

Significant results from our most recent drill program are shown in Table 1 in Appendix 1. The gold mineralized zones identified thus far at Jackhammer Hill comprise a series of southeast dipping horizons hosted within an altered and sheared diorite intrusive unit. Drilling has been initiated along an approximate 1,350-metre strike extent, predominantly to vertical depths of 50 to 75 metres and locally to vertical depths of approximately 125 metres.

The Jackhammer Hill drilling program completed to date is outlined on Figure 2 in Appendix 2. Additionally, a representative section demonstrating excellent continuity of high-grade gold mineralization from our most recent drill phase is also included (Figure 3 in Appendix 2).

A central core portion of the Jackhammer Hill prospect includes a number of intersections of high-grade visible gold in the drill core over a current strike extent of 200 metres (Section 0+40 SW to Section 2+40 SW in Figure 2 in Appendix 2). 

C-Zone Prospect: Correlated Zones of Strong Gold Mineralization

To-date, the Company has drill tested C-Zone with diamond drilling over a strike extent of approximately 850 metres (Figure 4 in Appendix 2) and additional recent strong results confirm that C-Zone remains open to depth and intersects with the southeastern portion of our Peksou prospect.

Gold mineralization is localized in a discrete, mafic volcanic hosted shear zone system that displays alteration, veining and brecciation characteristics similar to those observed at Golden Hill’s nearby Ma prospect. The correlation of gold mineralized zones between drill holes at C-Zone has been excellent, as demonstrated by representative sections of some recent drill results (Figures 5 and 6 in Appendix 2).

Peksou North Prospect: New Near-Surface Discovery

Available results from a series of scout holes targeting soil and auger geochem anomalies within the Peksou Intrusive Complex (Figure 1 in Appendix 2) have provided favorable early-stage results at two separate locations within the Peksou North target area (Figure 7 in Appendix 2). Similar to the intrusive-hosted portion of mineralization at our Peksou prospect, granodiorite intrusive-hosted gold mineralization at Peksou North displays two distinct styles of alteration: (i) hematite dominant; and (ii) sericite dominant.

As outlined in a representative section (Figure 8 in Appendix 2), the sericite alteration zone in GHDD-346 appears to be the more important at that location, whereas the hematite alteration zone in scissor-hole GHDD-345 appears to be a proximal, footwall feature.

A number of our initial Peksou North diamond drill results are pending (Table 3 in Appendix 1). However, we are very encouraged by the near-surface gold results from the few holes analyzed to date, and plan further drilling to follow-up on these initial positive results. 

Ma North Prospect: All 12 New Holes Show Consistent Near-Surface Mineralization

Our most recent Ma North diamond drill results continue to confirm that a third well-mineralized breccia zone (BZ-3) exists within the Ma structural complex where previous drilling had identified BZ-1 and BZ-2 (Figure 9 in Appendix 2). Drilling at Ma North is still at an early-stage and predominantly at shallow depths when compared to more advanced areas of the Ma structural complex. However, early-stage hole-to-hole correlation is demonstrating excellent continuity of mineralization. Additional drilling is planned to further evaluate Ma North both along trend and to depth where the breccia hosted mineralization remains open to expansion.

Recent diamond drill results at Ma North are outlined in Table 4 in Appendix 1. All 12 holes being reported intersected near surface intervals of gold mineralization that correlates well with previous drilling. 

A-Zone and B-Zone Prospects: Improved Interpretation Supports Follow-Up Drilling

Initial diamond drilling evaluation was completed during the second quarter at the A and B Zones (Figure 10 in Appendix 2) where previous operators had utilized reverse circulation drilling. Although the earlier drilling had intersected a number of very positive results, correlation and interpretation was very difficult without the benefit of diamond drilling. As indicated in Table 5 in Appendix 1, the results from our preliminary stage of drilling evaluation have been encouraging and the overall interpretation of both the A and B Zone mineralization has improved considerably warranting a follow-up drill program that may begin in the fourth quarter.

Nahiri and Nahiri Plateau Prospects: More Broadly Anomalous Intersections Encountered

As a component of the recent drilling program at Golden Hill, a few holes were drilled at both the Nahiri prospect and the Nahiri Plateau area where previous drilling had intersected very broad intervals of highly anomalous gold mineralization, much of which is oxide preserved under a lateritic cap. Two lateral step-out drill holes from previously drilled GHDD-178 (a minimum of 123 m @ 0.48 g/t Au) both encountered similar broadly anomalous mineralization: GHDD-309 (a minimum of 153 m @ 0.30 g/t Au) and GHDD-333 (a minimum of 67 m @ 0.64 g/t Au). Complete results for these and other recent Nahiri and Nahiri Plateau holes are shown in Table 6 of Appendix 1 and a plan map of all Nahiri area drilling is outlined in Figure 11 of Appendix 2.

Further drilling is planned for the Nahiri Plateau area to more thoroughly assess these very broadly mineralized intersections and explore for a potential feeder system/structure that may host higher grades.

Competent Persons Statements

Teranga's exploration programs in Burkina Faso are being managed by Peter Mann, FAusIMM. Mr. Mann is a full time employee of Teranga and is not "independent" within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Mann has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a "Qualified Person" under NI 43-101. The technical information contained in this news release relating to exploration results are based on, and fairly represents, information compiled by Mr. Mann. Mr. Mann has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information. The RC and diamond core samples are assayed at the BIGGS Laboratory in Ouagadougou, Burkina Faso. Mr. Mann has consented to the inclusion in this news release of the matters based on his compiled information in the form and context in which it appears herein. 

Forward-Looking Statements

This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"), which reflects management's expectations regarding Teranga's future growth and business prospects (including the timing and development of new deposits and the success of exploration activities) and opportunities. Wherever possible, words such as “objective to”, “likely”, “intend to”, “potential”, “belief”, “believe”, “expects”, “estimates”, “plans”, “anticipated”, “ability” and similar expressions or statements that certain actions, events or results “should”, or "will" have been used to identify such forward-looking information. Forward-looking statements include, without limitation, all disclosure regarding possible events, conditions or results of operations, future economic conditions and anticipated courses of action. Although the forward-looking statements contained in this press release reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, Teranga cannot be certain that actual results will be consistent with such forward-looking statements. Such forward-looking statements are based upon assumptions, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments that management believe to be reasonable and relevant but that may prove to be incorrect. These assumptions include, among other things, the ability to obtain any requisite governmental approvals, the accuracy of sampling, analytical and test data underlying the exploration results included herein, gold price, exchange rates, fuel and energy costs, future economic conditions, and anticipated future estimates of free cash flow. Teranga cautions you not to place undue reliance upon any such forward-looking statements.

The risks and uncertainties that may affect forward-looking statements include, among others: the inherent risks involved in exploration and development of mineral properties, including government approvals and permitting, changes in economic conditions, changes in the worldwide price of gold and other key inputs, changes in mine plans and other factors, such as project execution delays, many of which are beyond the control of Teranga, as well as other risks and uncertainties which are more fully described in Teranga's Annual Information Form dated March 29, 2018, and in other filings of Teranga with securities and regulatory authorities which are available at www.sedar.com. Teranga does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Nothing in this document should be construed as either an offer to sell or a solicitation to buy or sell Teranga securities. All references to Teranga include its subsidiaries unless the context requires otherwise.

About Teranga

Teranga is a multi-jurisdictional West African gold company focused on production and development as well as the exploration of more than 6,400 km2 of land located on prospective gold belts. Since its initial public offering in 2010, Teranga has produced more than 1.4 million ounces of gold from its operations in Senegal, which as of June 30, 2017 had a reserve base of 2.7 million ounces of gold. Focused on diversification and growth, the Company is building Wahgnion, its second gold mine, and is conducting extensive exploration programs in three countries: Burkina Faso, Senegal and Côte d’Ivoire. Teranga has a strong balance sheet and the financial flexibility to execute on its growth strategy. The Company has nearly 4.0 million ounces of gold reserves from its combined Sabodala Gold operations and Wahgnion Gold Project.

Steadfast in its commitment to set the benchmark for responsible mining, Teranga operates in accordance with the highest international standards and aims to act as a catalyst for sustainable economic, environmental, and community development as it strives to create value for all of its stakeholders. Teranga is a member of the United Nations Global Compact and a leading member of the multi-stakeholder group responsible for the submission of the first Senegalese Extractive Industries Transparency Initiative revenue report. The Company's responsibility report is available at www.terangagold.com/responsibilityreport and is prepared in accordance with its commitments under the United Nations Global Compact and in alignment with the Global Reporting Initiative guidelines.

Contact Information

Richard Young
President & CEO
T: +1 416 594 0000 | E: ryoung@terangagold.com   
Trish Moran
Head of Investor Relations
T: +1 416 607 4507 | E: tmoran@terangagold.com


APPENDIX 1


Drilling Results Tables 1 - 6

Table 1: Jackhammer Hill Prospect – Selected Drill Highlights

Hole # Northing Easting Elevation Azimuth Dip EOH (m) Interval
 (m)
Core
length (m)
Grade
(g/t Au)
GHDD-319 1229971 452905 336 315 -55 143 19-20 1 4.24
              22-24 2 2.31
              30-33 3 1.92
              37-48 11 1.89
      Including       41-43 2 6.83
              51-53 2 1.38
              139-140 1 2.06
                   
GHDD-320 1229943 452938 338 315 -55 200 19-20 1 2.10
              67-71 4 1.57
              92-94 2 1.30
              97-100 3 1.47
              115-123 * 8 * 22.10 *
      Including       115-116 * 1 * 125.6 *
              115-123 ** 8 ** 10.15 **
      Including       115-116 ** 1 ** 30.0 **
              127-129 2 1.51
              135-138 3 1.69
                   
GHDD-334 1229915 452964 340 315 -55 227 36-43 7 1.07
              138-141 * 3 * 29.50 *
      Including       139-140 * 1 * 84.7 *
              138-141 ** 3 ** 11.25 **
      Including       139-140 ** 1 ** 30.0 **
              166-168 2 2.83
              179-185 6 1.05
              194-201 7 1.55
              207-215 8 1.14
                   
GHDD-335 1229861 452852 331 311 -55 134 75-78 3 1.40
              113-119 6 2.80
                   
GHDD-336 1230162 453147 336 315 -55 146 41-44 3 1.15
                   
GHDD-337 1230125 453123 337 311 -55 140 65-66 1   1.25
                   
Intervals calculated with a 0.4 g/t Au cut-off and 2 metres maximum internal dilution. True widths are unknown. UTM's are WGS84-30N. Intervals with grade x thickness (gram x metre) of 10 or higher are highlighted in bold.
* Uncut grade intervals for GHDD-320 and GHDD-334.  ** Cut grade intervals for GHDD-320 and GHDD-334 – individual assays in excess of 30.0 g/t Au are cut to 30.0 g/t Au.



Table 2: C-Zone Prospect – Selected Drill Highlights

Hole # Northing Easting Elevation Azimuth Dip EOH (m) Interval
 (m)
Core
length (m)
Grade
(g/t Au)
GHDD-305 1227317 451654 311 020 -55 116 91-96 5 3.91
      Including       93-94 1 12.71
              107-109 2 1.36
                   
GHDD-306 1227371 451633 316 020 -55 80 60-63 3 2.48
                   
GHDD-307 1227286 452110 300 020 -55 77 31-32 1 6.30
              41-46 5 2.21
      Including       45-46 1 7.42
              49-50 1 4.62
                   
GHDD-308 1227235 451791 304 020 -55 150 120-130 10 4.22
      Including       121-122 1 10.27
                   
GHDD-312 1227316 452288 299 330 -55 116 21-31 10 2.58
      Including       28-30 2 7.41
              89-95 6 3.36
      Including       93-95 2 6.60
                   
GHDD-313 1227366 452304 298 326 -55 128 4-6 2 1.26
              102-112 10 1.42
      Including       102-104 2 2.90
                   
GHDD-314 1227426 452318 299 330 -55 146 38-39 1 1.25
              99-101 2 2.44
                   
GHDD-315 1227402 452431 296 330 -55 104 72-77 5 2.28
      Including       75-76 1 6.61
                   
GHDD-316 1227480 452390 297 330 -55 65 24-25 1 5.70
              35-37 2 1.15
              38-39 1   1.07
              46-48 2 2.29
                   
Intervals calculated with a 0.4 g/t Au cut-off and 2 metres maximum internal dilution. True widths are unknown. UTM's are WGS84-30N. Intervals with grade x thickness (gram x metre) of 10 or higher are highlighted in bold.



Table 3: Peksou North Prospect – Selected Drill Highlights

Hole # Northing Easting Elevation Azimuth Dip EOH (m) Interval
 (m)
Core
length (m)
Grade
(g/t Au)
GHDD-345 1228812 453243 309 120 -50 160     NSR
                   
GHDD-346 1228764 453324 312 300 -60 160 24-64 * 40 * 1.11
      Including       24-30 6 1.55
      And       35-46 11 1.28
      And       48-63 15 1.31
                   
GHDD-347 1228920 453636 311 320 -50 130   Results Pending
                   
GHDD-348 1228590 452616 303 030 -50 92   Results Pending
                   
GHDD-349 1228147 452430 302 145 -50 100 27-30 3 14.36 **
      Including       29-30 1 32.22 **
              27-30 3 13.62 ***
      Including       29-30 1 30.00 ***
                   
GHDD-350 1228744 453200 308 120 -50 160 31-33 2 1.08
                   
GHDD-351 1228731 453148 307 120 -50 195   Results Pending
                   
                   
* The initial 40-metre interval for GHDD-246 is calculated with a 0.2 g/t Au cut-off and 4 metres maximum internal dilution. All of the other intervals in this Peksou North Table are calculated using the standard 0.4 g/t Au cut-off and 2 metres of maximum internal dilution. True widths are unknown. UTM's are WGS84-30N. Intervals with grade x thickness (gram x metre) of 10 or higher are highlighted in bold.
 
** Uncut grade intervals for GHDD-349.  *** Cut grade intervals for GHDD-349 – individual assays in excess of 30.0 g/t Au are cut to 30.0 g/t Au.



Table 4: Ma North Prospect – Selected Drill Highlights

Hole # Northing Easting Elevation Azimuth Dip EOH (m) Interval
 (m)
Core
length (m)
Grade
(g/t Au)
GHDD-321 1237977 451763 382 010 -45 134 91-98 7 2.93
      Including       91-94 3 4.75
                   
GHDD-322 1237962 451800 383 010 -45 146 37-38 1 1.17
                   
GHDD-323 1237951 451844 384 010 -63 145 110-115 5 3.09
      Including       114-115 1 10.90
                   
GHDD-324 1237858 452399 416 010 -45 98 16-17 1 1.84
                   
GHDD-325 1237896 452443 414 010 -45 116 11-16 5 1.21
              21-25 4 2.45
              96-98 2 1.44
                   
GHDD-326 1237837 452476 425 010 -45 128 16-17 1 1.23
              46-49 3 2.80
              69-72 3 1.28
                   
GHDD-327 1237882 452525 428 010 -45 65 3-5 2 1.73
              11-12 1 1.21
              25-27 2 2.03
                   
GHDD-328 1237845 452519 430 010 -45 101 48-54 6 1.14
                   
GHDD-329 1237861 452599 423 010 -45 89 18-20 2 1.52
                   
GHDD-330 1237810 452556 434 010 -45 92 67-69 2 4.24
                   
GHDD-331 1237855 452433 423 010 -45 122 45-47 2 1.27
                   
GHDD-332 1237832 452599 425 010 -45 108 17-18 1 1.18
              37-38 1 1.09
              46-50 4 2.38
                   
Intervals calculated with a 0.4 g/t Au cut-off and 2 metres maximum internal dilution. True widths are unknown. UTM's are WGS84-30N.  Intervals with grade x thickness (gram x metre) of 10 or higher are highlighted in bold. 



Table 5: A - Zone and B - Zone Prospects – Selected Drill Highlights

Hole # Northing Easting Elevation Azimuth Dip EOH
(m)
Interval
 (m)
Core
length (m)
Grade
(g/t Au)
GHDD-279 1226026 451196 299 298 -55 149 64-65 1 2.13
              75-76 1 1.34
              83-84 1 8.12
              111-115 4 1.24
                   
GHDD-280 1225992 451171 299 298 -55 143 80-81 1 1.42
              96-113 17 2.38
                   
GHDD-281 1225847 451103 296 298 -55 113 14-15 1 3.96
              35-37 2 1.12
              57-58 1 1.04
              61-62 1 1.31
              77-79 2 1.05
              95-96 1 1.12
                   
GHDD-283 1226057 451207 301 298 -55 179 17-19 2 4.44
              45-48 3 1.15
              88-89 1 6.64
                   
GHDD-284 1225972 451118 300 298 -55 110 2-4 2 2.19
              35-36 1 1.48
                   
GHDD-292 1226355 451142 301 298 -55 131 68-71 3 1.28
              104-115 11 4.02
                   
GHDD-293 1226318 451052 299 298 -55 117 52-59 7 1.18
              62-65 3 1.57
              72-74 2 1.23
              76-79 3 1.12
                   
GHDD-294 1226244 451019 129 298 -55 129 15-16 1 1.38
              52-53 1 1.85
                   
GHDD-295 1226329 451080 162 330 -50 162 20-23 3 1.12
              60-73 13 2.43
      Including       68-71 3 5.41
              78-85 7 1.20
              133-137 4 8.74
      Including       135-136 1 29.40
                   
GHDD-296 1226388 451126 137 330 -55 137 8-9 1 1.26
              40-60 20 1.13
                   
GHDD-297 1226423 451241 149 330 -55 149 124-128 4 1.13
                   
GHDD-299 1226290 451014 176 330 -55 176 41-50 9 1.17
              55-59 4 2.46
                   
GHDD-300 1226249 450941 107 330 -55 107 40-41 1 2.59
              57-59 2 1.33
                   
GHDD-301 1225773 451013 104 298 -55 104 54-55 1 3.12
                   
Intervals calculated with a 0.4 g/t Au cut-off and 2 metres maximum internal dilution. True widths are unknown. UTM's are WGS84-30N. Intervals with grade x thickness (gram x metre) of 10 or higher are highlighted in bold.



Table 6: Nahiri and Nahiri Plateau Prospects – Selected Drill Highlights

Hole # Northing Easting Elevation Azimuth Dip EOH
(m)
Interval
 (m)
Core
length
(m)
Grade
(g/t Au)
GHDD-309 1234086 450046 385 065 -50 161 8-161 + 153 + 0.30
      Including       24-34 10 0.50
              25-26 1 1.05
      And       61-77 16 0.67
              68-70 2 1.22
      And       125-135 10 0.52
              125-126 1 1.15
              132-133 1 1.32
                   
GHDD-310 1234172 450147 385 065 -50 70 20-37 17 0.30
      Including       20-22 2 1.12
                   
GHDD-311 1233753 450690 358 065 -50 83 0-2 2 1.00
              23-24 1 1.31
                   
GHDD-333 1234155 450009 384 065 -50 170 6-7 1 1.46
              103-170 + 67 + 0.64
      Including       105-127 22 1.06
                   
Previously Released Results              
                   
GHRC-024 1234163 450131 386 065 -60 120 1-86 85 0.41
      Including       16-29 13 0.61
      And       48-66 18 0.76
              49-53 4 1.22
                   
GHRC-025 1234147 450093 384 065 -60 80 9-80 + 71 + 0.46
      Including       34-56 22 0.58
                   
GHRC-026 1234132 450057 383 065 -60 80 7-80 + 73 + 0.31
      Including       14-25 11 0.64
      And       66-73 7 0.68
                   
GHDD-178 1234123 450039 383 065 -60 137 14-137 + 123 + 0.48
      Including       16-27 13 1.33
              17-22 5 1.95
      And       74-85 11 0.78
              82-84 2 1.59
      And       92-103 11 0.86
              92-94 2 2.31
                   
Initial intervals are calculated with a 0.1 g/t Au cut-off and 10 metres of maximum internal dilution (most holes with only 2-3 metres of internal dilution). Included intervals are calculated with a 0.4 g/t Au cut-off and 2 metres of internal dilution. True widths are unknown. Entire interval widths are uncertain as many of the Nahiri Plateau drill holes end in mineralization.  UTM's are WGS84-30N.  Intervals with grade x thickness (gram x metre) of 10 or higher are highlighted in bold. 



APPENDIX 2


Figure 1: Golden Hill Property – Prospect Location Plan Map

http://www.globenewswire.com/NewsRoom/AttachmentNg/2b2406f3-ed2b-4cb2-802a-77201bb2786e


Figure 2: Jackhammer Hill Plan Map

http://www.globenewswire.com/NewsRoom/AttachmentNg/09862b88-7bda-4748-b79f-271b856b617b


Figure 3: Jackhammer Hill Prospect – Representative Drill Section C-C’

http://www.globenewswire.com/NewsRoom/AttachmentNg/73d64a15-95e4-496e-b748-fe038c90aff5


Figure 4: C-Zone Plan Map

http://www.globenewswire.com/NewsRoom/AttachmentNg/003ebaa8-237d-4dba-ac0f-744c35aba244


Figure 5: C-Zone Prospect - Representative Drill Section C-C’ (0+80 NE)

http://www.globenewswire.com/NewsRoom/AttachmentNg/8890a328-8302-4b51-8f10-f4d084b80b3c


Figure 6: C-Zone Prospect – Representative Section D-D’ (0+80 E)

http://www.globenewswire.com/NewsRoom/AttachmentNg/4bda1775-96ef-4e1a-97ab-8798e94168e7


Figure 7: Peksou North Prospect – Plan Map

http://www.globenewswire.com/NewsRoom/AttachmentNg/88a3c7da-1224-4759-a173-80976afa0290


Figure 8: Peksou North Prospect – Representative Drill Section A-A’ (0+00)

http://www.globenewswire.com/NewsRoom/AttachmentNg/58834222-ab33-428b-b849-f150c0b985c5


Figure 9: Ma North Prospect – Plan Map

http://www.globenewswire.com/NewsRoom/AttachmentNg/b2c0cd08-7103-4956-af39-8a5564603cb8


Figure 10: A-Zone and B-Zone - Plan Map

http://www.globenewswire.com/NewsRoom/AttachmentNg/efb80eb0-72dd-46e9-9f5f-6e21790f1749


Figure 11: Nahiri and Nahiri Plateau Prospects – Plan Map

http://www.globenewswire.com/NewsRoom/AttachmentNg/ab7ce5e8-3270-4584-a55a-d492576b02d8

 

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