Latest news with #EnvironmentalandSocialImpactAssessment
Express Tribune
04-04-2025
- Business
- Express Tribune
Company digging for water finds gas
It was like striking gold when a company prospecting for freshwater spuded a gas reserve. TPL Properties has reported the discovery of a gas pocket while drilling a test well for water exploration in Korangi Creek. FIn a notice submitted to the Pakistan Stock Exchange (PSX), the company stated that preliminary technical assessments, along with independent evaluations from industry experts, suggest the gas is likely low biogenic methanenaturally produced through the decomposition of organic matter. As the location is not part of a recognized natural gas reservoir, the company noted that the gas pocket is expected to dissipate naturally over time if the fire is allowed to burn. The discovery was made as part of a series of extensive studies conducted in collaboration with leading national and international consulting firms. These studies included geotechnical analyses, soil structure and contamination assessments, electrical resistivity (ER) surveys, a comprehensive Environmental and Social Impact Assessment (ESIA), and other baseline evaluations. Following the incident on the night of Friday, March 28, 2025, TPL Properties has taken all necessary measures to manage the situation and has informed the relevant stakeholders accordingly. Large reserves in Korangi Creek Earlier a geologist talking to The Express Tribune had expressed the possibility of large underground gas reserves in the Korangi Creek area, urging the need to extinguish the fire that has been burning for five days and initiate gas exploration activities at the site. Associate Professor at the University of Karachi's Department of Geology, Dr Adnan Khan, told The Express Tribune that 56-year data from wells drilled in the Indus Delta region for oil and gas exploration, points to the potential presence of methane gas at the site where water boring led to gas emission and the outbreak of fire. He added that there is also a possibility of coal deposits at the site.
Associated Press
05-02-2025
- Business
- Associated Press
Focus Graphite Inc. Announces Transition to Advanced Materials and Technology
This strategic transition positions the Company as a key player in delivering sustainable, high performance materials for the green energy revolution. OTTAWA, ON / ACCESS Newswire / February 5, 2025 / Focus Graphite Inc. (TSXV:FMS)(OTCQB:FCSMF)(FSE:FKC) ('Focus' or the 'Company'), a Canadian critical minerals resource company, is pleased to announce a corporate update and its strategic transformation into an advanced materials and technology company. Building on more than fifteen (15) years of development, Focus is leveraging its Lac Knife high-grade crystalline flake graphite project located near Fermont, Québec, to supply high-purity carbon materials for cutting-edge industrial applications, energy storage, and the electric vehicle ('EV') revolution. Lac Knife: Advancing Toward Production Following the completion of its Feasibility Study announced on April 19th, 2023, available for review on SEDAR ( and on Focus' website ( Focus is making significant strides in the Environmental and Social Impact Assessment (ESIA) process. Now in its third round of regulatory review, the Company has streamlined the remaining studies required to address outstanding questions. With permitting well underway, the Lac Knife project is positioned to become a North American supplier of high-purity flake graphite, with the goal of supporting the burgeoning demand for critical industries such as electric vehicles ('EVs'), renewable energy storage, military and advanced manufacturing. Breakthrough in Spheroidized Graphite for Next-Gen Batteries Focus has successfully developed and tested its proprietary silicon-enhanced spheroidized graphite technology, engineered to enhance lithium-ion battery performance. Initial coin cell tests have demonstrated significant improvements in energy capacity and power output compared to conventional battery anode materials.1 The next phase involves testing the technology in pouch cells through a third-party battery company to validate its scalability and performance in larger battery systems under real-world commercial conditions. Upon successful validation, Focus Graphite plans to commercialize this breakthrough technology through licensing agreements, positioning itself as a key supplier in the high-performance battery materials market. 1 Patent Pending 3860-118US / 18/278,659 / 3860-119CAN 3,209,696 / 3860-119EP 227586669.0 Expanding Applications with Proven Materials Extensive testing of Lac Knife graphite has shown superior performance in battery applications compared to synthetic alternatives. To further align with industry needs, the Company is updating and expanding its Certificates of Analysis ('COAs') across various mesh sizes. This initiative will enable immediate collaboration opportunities with industry partners and broaden the commercial potential of Lac Knife graphite across diverse markets. Sustainable Graphite Processing for a Greener Future Focus is committed to environmental leadership and is leading the way in environmentally friendly processing. The Company's proprietary green purification process eliminates harmful chemicals while achieving high-purity graphite production. The Company's eco-friendly approach minimizes environmental impact and aligns with global sustainability initiatives, ensuring a responsible and ethical supply of critical materials. Tétépisca: Unlocking its Potential The Tétépisca project is an emerging graphite deposits, with extensive drilling completed to date - 74 holes totalling 14,900.5 meters, including 27 definition holes drilled along the deposit's strike. This comprehensive dataset will be the foundation for an updated NI 43-101 Mineral Resource Estimate (MRE), expected later this year. Beyond resource expansion, the Company is prioritizing material characterization and processing to unlock Tétépisca's full potential. Studies are underway to determine flake size distribution, purity levels, and optimal metallurgical processes. These studies will determine the potential of the material for use in energy storage, military, and electric vehicle ('EV') batteries. Processing will play a pivotal role in realizing Tétépisca's commercial viability. The ability to refine the graphite to meet stringent industry specifications-whether for purity, mesh size, or specialized applications-will determine its competitiveness in the market. By advancing material characterization and refining processing methodologies, Focus is taking decisive steps to maximize the value of Tétépisca. This initiative aims to strengthen the Company's position as a supplier in the critical minerals supply chain, has the potential to foster long-term partnerships with industry leaders, and supports Focus' vision of becoming a frontrunner in the rapidly growing graphite sector. Strategic Advantage: Securing National and Industrial Supply Chains As governments and industries work to secure domestic sources of critical minerals, Focus Graphite is well-positioned to meet the growing demand. With graphite designated as a strategic material for national security and energy transition, the Company's Lac Knife and Tétépisca project offer a reliable, domestic source of high purity graphite. This strategic alignment supports the North American supply chain security, defense priorities, and the transition to green energy. A Vision for the Future With a feasibility in hand, Focus is needs to actively pursue off-take agreements and strategic partnerships,' commented Dean Hanisch, CEO of Focus Graphite. 'Our material has been extensively tested so we have turned our attention to qualifying end-user applications to meet the growing demand across industries. Additionally, our proprietary silicon-enhanced spheroidized graphite technology has demonstrated significant potential to enhance battery performance, as shown in our successful coin tests. We are excited about the future, with two high-quality projects, environmentally friendly processing techniques, and innovative battery anode technology. While market conditions have been challenging, North America's push to onshore critical mineral supply and reduce dependence on foreign sources presents a significant opportunity - one that we are ready to seize.' This strategic transition positions Focus Graphite as a player in delivering sustainable, high-performance materials for the green energy revolution. About Focus Graphite Inc. Focus Graphite Inc. is an advanced materials company developing sustainable mining and technology innovations. At the heart of our operations is the Lac Knife flake graphite deposit, known for its high purity and grade-ideal for applications in the military, defense, and green energy revolutions. Currently advancing through Canada's mine permitting process, Focus Graphite is on the verge of transforming this resource into a cornerstone for critical mineral supply. Our proprietary, environmentally sustainable processing technologies ensure a green, chemical-free pathway from mine to market. The Company's proprietary silicon-enhanced spheroidized graphite patent technology is aimed at improving battery performance. We specialize in producing advanced, high-purity graphite materials tailored for diverse industries, including EV batteries, military applications, and high-tech manufacturing. Focus Graphite's commitment extends beyond resource extraction-we are actively building partnerships with industry leaders, academic institutions, and government bodies to accelerate the commercialization of advanced materials and technologies derived from our flagship project. As a proud Canadian company, we are dedicated to contributing to North America's secure and sustainable critical minerals supply chain. For more information on Focus Graphite Inc. please visit Investors Contact: Dean Hanisch CEO, Focus Graphite Inc. 613-612-6060 Cautionary Note Regarding Forward-Looking Statements Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words 'could,' 'intend,' 'expect,' 'believe,' 'will,' 'projected,' 'estimated,' and similar expressions, as well as statements relating to matters that are not historical facts, are intended to identify forward-looking information and are based on the Company's current beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the Company's plans to advance its Lac Knife and Tétépisca projects through permitting, resource development, and commercialization efforts; the anticipated completion of an updated NI 43-101 Mineral Resource Estimate for Tétépisca; the potential for Lac Knife to become a key supplier of high-purity flake graphite; the Company's ability to secure off-take agreements and strategic partnerships; the anticipated performance and scalability of the Company's proprietary silicon-enhanced spheroidized graphite technology; the expected benefits of its environmentally friendly purification process; and the Company's positioning as a key player in securing North American critical mineral supply chains. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release, assumptions regarding the Company's ability to obtain necessary permits and approvals on anticipated timelines, the successful execution of exploration and development programs, the viability and scalability of its proprietary graphite processing technologies, the ability to attract commercial partners, and the continuation of favorable market conditions for graphite demand in energy storage, electric vehicles, and other advanced industrial applications. Although forward-looking information is based on reasonable assumptions made by the Company's management, there can be no assurance that any forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks related to permitting and regulatory approvals; delays or challenges in the exploration, development, or commercialization of the Company's projects and technologies; changes in graphite market demand and pricing; technological and operational challenges in scaling up proprietary processing technologies; financing risks; and the general risks inherent in the exploration and development of mineral deposits. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties, and assumptions contained herein, investors should not place undue reliance on forward-looking information. The TSX Venture Exchange and OTCQX have not reviewed, approved, or disapproved the contents of this press release.
Associated Press
29-01-2025
- Business
- Associated Press
Troilus Initiates ESIA Submission, Marking Significant Progress Toward Final Permitting
MONTREAL, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF; FRA: CM5R) ('Troilus' or the 'Company'), is pleased to announce that it has begun the submission process for its Environmental and Social Impact Assessment ('ESIA') for the copper-gold Troilus Project, located in north-central Quebec, Canada. This marks a critical milestone in the Company's permitting process as it progresses one of Canada's largest undeveloped gold-copper deposits toward construction. Under an updated, more collaborative approach outlined by the Impact Assessment Agency of Canada and the Cree Nation Government, Troilus has been able to submit sections of its ESIA for review as they are completed, rather than waiting for the entire report to be finalized. This iterative process has already facilitated constructive engagement, with initial feedback and comments from the Agency being incorporated into the Company's final submission. By addressing questions and resolving issues early in the process, this approach is expected to streamline the final permitting process and reduce back-and-forth once the complete ESIA is formally submitted. A Multi-Year Commitment to Stakeholder Engagement and Environmental Responsibility The ESIA represents the culmination of more than five years of work by Troilus, including extensive field studies and collaboration with stakeholders and local Indigenous communities. Highlights of these efforts include: Public and private consultations with local communities, including the Cree Nation, to ensure alignment with regional priorities and cultural values. Environmental baseline studies conducted to evaluate and mitigate potential impacts on local ecosystems. Comprehensive social and economic studies to address the long-term benefits of the project for the region. The preparation of the ESIA has been conducted in partnership with leading environmental and engineering firms, BluMetric and Stantec, ensuring the report adheres to the highest environmental, social, and technical standards. Justin Reid, CEO of Troilus, commented, 'The initiation of the ESIA submission process is a significant step forward for Troilus as we advance our project toward final permitting and development. The new iterative framework has allowed us to engage directly with regulators and stakeholders, resolving issues early and incorporating their feedback into the final report. This approach not only demonstrates our commitment to transparency and collaboration but also ensures that the final document is as robust and comprehensive as possible. We believe this collaborative approach will help streamline the permitting process and position Troilus for the successful and sustainable advancement of the Project.' As part of its continued commitment to responsible resource development, Troilus will maintain open communication with local communities and regulatory authorities throughout the ESIA process. The final ESIA submission is expected to be completed in Q2 2025. About Troilus Gold Corp. Troilus Gold Corp. is a Canadian development-stage mining company focused on the systematic advancement of the former gold and copper Troilus Mine towards production. Troilus is located in the tier-one mining jurisdiction of Quebec, Canada, where it holds a large land position of 435 km² in the Frôtet-Evans Greenstone Belt. A Feasibility Study completed in May 2024 supports a large-scale 22-year, 50ktpd open-pit mining operation, positioning it as a cornerstone project in North America. For more information: Caroline Arsenault VP Corporate Communications +1 (647) 407-7123 [email protected] Cautionary Note Regarding Forward-Looking Statements and Information This press release contains 'forward-looking statements' within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding, the timing and impact of the dewatering and ESIA, the likelihood that the outlined submission process will result in the company obtaining the requisite permitting on an expedited timeline or at all, statements financing plans, development plans, opportunity to expand the scale of the project, the project becoming a cornerstone mining project in North America; the development potential and timetable of the project; the estimation of mineral resources and reserves; realization of mineral resource and reserve estimates; the timing and amount of estimated future exploration; costs of future activities; capital and operating expenditures; success of exploration activities; the anticipated ability of investors to continue benefiting from the Company's low discovery costs, technical expertise and support from local communities, the timing and amount of estimated future exploration; and the anticipated results of the Company's 2024 drill program and their possible impact on the potential size of the mineral resource estimate. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'continue', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'will', 'might' or 'will be taken', 'occur' or 'be achieved'. Forward-looking statements are made based upon certain assumptions and other important facts that, if untrue, could cause the actual results, performances or achievements of Troilus to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Troilus will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, currency fluctuations, the global economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Troilus to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: there being no assurance that the exploration program or programs of the Company will result in expanded mineral resources; risks and uncertainties inherent to mineral resource and reserve estimates; the high degree of uncertainties inherent to feasibility studies and other mining and economic studies which are based to a significant extent on various assumptions; variations in gold prices and other metals, exchange rate fluctuations; variations in cost of supplies and labour; receipt of necessary approvals; availability of financing for project development; uncertainties and risks with respect to developing mining projects; general business, economic, competitive, political and social uncertainties; future gold and other metal prices; accidents, labour disputes and shortages; environmental and other risks of the mining industry, including without limitation, risks and uncertainties discussed in the Company's latest Annual Information Form, its technical reports and other continuous disclosure documents of the Company available under the Company's profile at Although Troilus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Troilus does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
Yahoo
28-01-2025
- Business
- Yahoo
Perseus Mining takes Final Investment Decision on Yaoure CMA Underground Project
Perth, Jan. 28, 2025 (GLOBE NEWSWIRE) -- perseus mining takes final investment decision on CMA UNDERGROUND PROJECT at yaouré Perth, Western Australia/January 28, 2025/Perseus Mining Limited (ASX/TSX:PRU) is pleased to advise that a Final Investment Decision (FID) has been taken, to develop the CMA underground project at the Yaouré Gold Mine in Côte d'Ivoire. The FID took into consideration the Ministry of Mines, Petroleum and Energy's in-principle approval for the project, as announced by Minister Sangafowa Coulibaly on 28 November 2024. This approval marks a critical step towards the start of the CMA underground project which is due to begin in mid-2025 with the development of the first portal. The commencement of this work remains contingent on the approval of the project's Environmental and Social Impact Assessment (ESIA) by the Ministry of Environment, Sustainable Development and Ecological Transition, which is currently underway, and the formal granting of a Ministerial Decree, foreshadowed in Minister Coulibaly's announcement. Following its FID, Perseus has appointed the Australian specialist underground mining contractor, Byrnecut, as the primary mining contractor for the project. Given that the CMA underground project will become Côte d'Ivoire's first mechanised underground mine, an important element of Byrnecut's role will be the training of Ivorian miners in the skills and disciplines of underground mining, particularly safe working practices. Byrnecut who has significant international experience, particularly in West Africa with experience operating in Ghana, Burkina Faso and Mali, is expected to mobilise on site at Yaouré by April 2025. The combined Measured and Indicated Mineral Resource (per Perseus's August 2024 ASX Release) for Yaouré is currently estimated at 55.6 Mt grading 1.52 g/t Au, containing 2.7 Moz of gold including 7.4 Mt grading 4.16 g/t Au, containing 0.966 Moz of gold associated with the CMA underground project. A further 17.4 Mt of material grading 1.7 g/t gold, containing 0.926 Moz of gold, including 4.5 Mt grading 3.5 g/t containing 0.51 Moz of gold associated with the CMA Underground Project, are classified as Inferred Mineral Resources (). Total Ore Reserves for Yaouré are estimated at 35.2 Mt grading 1.53 g/t Au, containing 1.73 Moz of gold including 4.9 Mt at 3.51 g/t for 0.56 Moz associated with the CMA underground project (). The CMA underground project, when combined with the open pit ore sources, based on the current estimate of Ore Reserves, will extend the Yaouré Gold Mine's operational life until at least 2035. There is potential for further life extensions through additional discoveries of mineralisation down dip from the currently delineated mineralisation. The move to underground operations allows further utilisation of the CMA deposit – which has proved to be a reliable foundation of the Yaouré operation to date. At steady state production rates, it is planned that underground ore will represent approximately 20% of the tonnes of ore mined on the site from both open cut and underground operations and will be mined at a rate 700-770kt per annum over the life of the currently defined underground operation. The average underground mining cost will be approximately US$75 per tonne of material mined and the underground operation will contribute close to half of the metal production at Yaouré, during this period. Preparations for the commencement of underground operations is in progress with recruitment and onboarding of the CMA underground team. Work to establish surface infrastructure, including camp, electrical tie-in and maintenance areas to support the underground operations is progressing well. Open pit mining in the CMA pit has recently exposed the planned underground access locations, these areas are being prepared to make the initial excavation in Q1 FY26. The table below shows the project progress to date. Process FY2025 FY2026 FY2027 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Infrastructure early works Underground Tender Adjudication Final Investment and Mining award Infrastructure UpgradesCamp and Mine Services Contractor Mobilisation Portal Works Underground Development First Production – Q1 FY27Commercial Production – Q4 FY27 The approved capital for the development for the CMA Underground is $124.6M (including $2.6M of pre-approved funding). This funding allows for the investment in surface infrastructure servicing the underground operations, mobilisation of underground equipment (including relevant customs and duties payable), underground capital development and capitalised pre-production for the project. The approved budget aligns with the previously communicated cost estimates for the project provided to the market in September 2023 and August 2024. The majority of the capital expenditure is scheduled for FY26 and FY27 as underground development commences. To date, the Company has incurred $4.1M towards progressing the project, including upgrades to camp facilities and mine services and the order of long lead items, in preparation for the mobilization of the underground contractor in Q1 FY26. The project remains on track with its planned timelines and budgetary requirements, and we look forward to providing further updates as development progresses. LIFE OF MINE PLANS (LOMP) FOR YAOURÉ AND THE PERSEUS GROUP As is Perseus's normal practice, LOMPs for all of its operations are updated annually as part of its regular budgeting cycle. Typically, these plans are finalised early in the June Quarter of each year as a precursor to preparation of annual budgets for the following financial year commencing on 1 July. In the June 2025 quarter, Perseus intends to publish consolidated group production and cost forecasts incorporating details from the updated LOMPs for each of its existing and planned mines including Yaouré which will for the first time include the CMA underground project, and the Nyanzaga Gold Mine which is also expected to receive an affirmative FID in the near future. The consolidated plan for the Perseus Group will confirm Perseus's corporate plan to continue producing between 500-600,000 ounces of gold per year at a cash margin of not less than US$500 for each ounce of gold produced. 'Perseus is proud to be playing a pioneering role in Côte d'Ivoire's mining sector with our affirmative decision to invest in the development of the CMA underground project at our Yaouré Gold Mine. This investment decision reaffirms our commitment to being a long-term partner in the development and production of Minerals Resources in Côte d'Ivoire. We are particularly grateful to his excellency, the Minister of Mines, Petroleum and Energy, Monsieur Mamadou Sangafowa Coulibaly, for his continued support and leadership in bringing underground mining to Côte d'Ivoire. While this represents a new phase for the Ivorian mining sector, members of our technical team have considerable individual experience operating mines in underground settings throughout the world, with a strong commitment to human and environmental safety as well as training of our Ivorian importantly, with the inclusion of the CMA underground operation into the Yaouré mine LOMP, we will materially extend the life of this mine. Since producing first gold at Yaouré in December 2020 at the height of the COVID pandemic, Yaouré has been become the flagship operation of Perseus's business and with the decision to proceed with the underground operation, we have ensure that this will continue to be the case for some time to come.'DEPOSIT DEPOSIT TYPE MEASURED RESOURCES INDICATED RESOURCES MEASURED & INDICATED RESOURCES QUANTITY GRADE GOLD QUANTITY GRADE GOLD QUANTITY GRADE GOLD Mt g/t gold '000 oz Mt g/t gold '000 oz Mt g/t gold '000 oz CMA 1,3,4 Open Pit - - - 15.8 0.90 458 15.8 0.90 458 Yaouré2,3,4 Open Pit - - - 19.2 1.35 838 19.2 1.35 838 Zain 12,4 Open Pit - - - 2.4 1.57 123 2.4 1.57 123 Satellite deposits5,6 Open Pit 0.1 1.28 5 4.5 0.98 142 4.6 0.99 147 Sub Total 0.1 1.28 5 41.9 1.16 1,561 42.1 1.16 1,566 CMA8 Underground - - - 7.4 4.16 996 7.4 4.16 996 Heap Leach3,7 Stockpile - - - 0.4 0.61 8 0.4 0.61 8 Stockpiles Stockpile 5.7 0.77 141 - - - 5.7 0.77 141 TOTAL 5.9 0.78 146 49.8 1.60 2,565 55.6 1.52 2,711DEPOSIT DEPOSIT TYPE INFERRED RESOURCES QUANTITY GRADE GOLD Mt g/t gold '000 oz CMA 1,3,4 Open Pit 7.5 0.8 200 Yaouré2,3,4 Open Pit 0.6 1.5 27 Zain 12,4 Open Pit 3.7 1.4 159 Satellite deposits5,6 Open Pit 1.0 0.8 26 CMA8 Underground 4.7 3.4 514 Total 17.4 1.7 926 Notes for 1 and 2: 1. Based on June 2022 Mineral Resource estimate. 2. Based on June 2024 Mineral Resource estimate. 3. Depleted for previous mining and to 30 June 2024 mining surface. 4. 0.3 g/t gold cut-off applied to in situ open pit material constrained to US$2,000/oz pit shells. 5. Based on Angovia 2 April 2021 and CMA SW May 2024 Mineral Resource models. 6. Angovia 2 has a 0.4 g/t gold cut-off applied to in situ open pit material constrained to US$1,800/oz pit shell. CMA SW has a 0.3 g/t gold cut-off applied to in situ open pit material constrained to US$2,000/oz pit shell. 7. Heap leach resources are stated at 0 g/t gold cut-off; only heap leach components with average grade above 0.4 g/t included. 8. May 2024 Mineral Resource estimate, below Stage 3 pit and above 1.5 g/t block grade cut-off. 9. Mineral Resources current as of 30 June 2024. 10. Rounding of numbers to appropriate precision may result in summary inconsistencies. 11. Mineral Resources are reported inclusive of Ore DEPOSIT TYPE PROVED PROBABLE PROVED + PROBABLE QUANTITY GRADE GOLD QUANTITY GRADE GOLD QUANTITY GRADE GOLD Mt g/t gold '000 oz Mt g/t gold '000 oz Mt g/t gold '000 oz CMA1,2 Open Pit - - - 6.8 1.81 394 6.8 1.81 394 Yaouré2,3, Open Pit - - - 13.1 1.25 524 13.1 1.25 524 Zain 12,3 Open Pit - - - 1.5 1.12 52 1.5 1.12 52 Satellite deposits 2,3 Open Pit 0.1 1.14 5 3.5 0.95 107 3.6 0.96 112 Sub Total 0.1 1.14 5 24.8 1.35 1,077 25.0 1.35 1,082 CMA4 Underground - - - 4.5 3.52 507 4.5 3.52 507 Stockpiles Stockpile 5.7 0.77 141 - - - 5.7 0.77 141 TOTAL 5.9 0.78 146 29.3 1.68 1,584 35.2 1.53 1,730 Notes: 1. Based on depletion to 30 June 2024 mining surfaces. 2. Variable gold grade cut-offs for each material type, ranging from 0.30 g/t to 0.75 g/t. 3. Pit designs are based on US$1,500/oz gold metal price for existing designs and satellites and US$1,700/oz for Zain 1, Yaouré and CMA Southwest (listed in Satellite deposits) open pits. 4. Based upon cut-off for development and stoping of 0.5 g/t and 2.5 g/t respectively. 5. Inferred Mineral Resource is considered as waste for optimisation purposes. 6. Rounding of numbers to appropriate precision may have resulted in apparent inconsistencies. Competent Person Statement All production targets referred to in this release are underpinned by estimated Ore Reserves which have been prepared by competent persons in accordance with the requirements of the JORC information in this release that relates to the Open Pit and Underground Mineral Resources and Ore Reserve at Edikan was updated by the Company in a market announcement 'Perseus Mining updates Mineral Resources and Ore Reserves' released on 21August 2024. The Company confirms that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, in that market release continue to apply and have not materially changed. The Company further confirms that material assumptions underpinning the estimates of Ore Reserves described in 'Technical Report — Edikan Gold Mine, Ghana' dated 7 April 2022 continue to information in this release that relates to the Mineral Resources and Ore Reserve at the Sissingué complex was updated by the Company in a market announcement 'Perseus Mining updates Mineral Resources and Ore Reserves' released on 21 August 2024. The Company confirms that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, in that market release continue to apply and have not materially changed. The Company further confirms that material assumptions underpinning the estimates of Ore Reserves described in 'Technical Report — Sissingué Gold Project, Côte d'Ivoire' dated 29 May 2015 continue to information in this release that relates to the Open Pit and Underground Mineral Resources and Ore Reserve at Yaouré was updated by the Company in a market announcement 'Perseus Mining updates Mineral Resources and Ore Reserves' released on 21 August 2024. The Company confirms that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, in that market release continue to apply and have not materially changed. The Company further confirms that material assumptions underpinning the estimates of Ore Reserves described in 'Technical Report — Yaouré Gold Project, Côte d'Ivoire' dated 19 December 2023 continue to apply. ASX Listing Rules disclosure All information on the Nyanzaga Mineral Resource and Ore Reserve estimates has been extracted from the OreCorp ASX announcements dated 12 September 2017 titled 'MRE Update for the Nyanzaga Project Increasing Category and Grade', 5 May 2022 titled 'DFS Completion and Kilimani Mineral Resource Estimate update within the Nyanzaga Special Mining Licence – Tanzania', and 22 August 2022 titled 'Nyanzaga DFS Delivers Robust Results' available on Perseus confirms that it is not aware of any new information or data that materially affect the information included in the original ASX announcements and that all material assumptions and technical parameters underpinning the estimates in the ASX announcements continue to apply and have not materially changed. Perseus confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original ASX announcements. Canadian National Instrument NI43-101 disclosure The information in this release relating to the Nyanzaga Gold Project is extracted from the OreCorp ASX announcements dated 12 September 2017 titled 'MRE Update for the Nyanzaga Project Increasing Category and Grade', 5 May 2022 titled 'DFS Completion and Kilimani Mineral Resource Estimate update within the Nyanzaga Special Mining Licence – Tanzania', and 22 August 2022 titled 'Nyanzaga DFS Delivers Robust Results' available on A Qualified Person has not done sufficient work to classify the Historical Estimates as current. As such, any Mineral Resource and Mineral Reserve estimates included in this section are Historical Estimates as defined in Canadian National Instrument 43-101 and are not reported as current Perseus estimates. The OreCorp Feasibility Study includes key assumptions for commodity prices, gold mining and processing costs, and there have been no material changes in assumptions. The OreCorp Feasibility Study in its current form is a comprehensive compilation of all available data applicable to the estimation of Mineral Resources and Mineral Reserves. Reference is made to Perseus's news release dated 31 May 2024 titled "Perseus progresses Nyanzaga Gold Project' for further clarifying statements. Perseus confirms the applicability of these statements have not materially changed. Caution Regarding Forward Looking Information: This report contains forward-looking information which is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Assumptions have been made by the Company regarding, among other things: the price of gold, continuing commercial production at the Yaouré Gold Mine, the Edikan Gold Mine and the Sissingué Gold Mine without any major disruption, the receipt of required governmental approvals, the accuracy of capital and operating cost estimates, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used by the Company. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. The Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable. Assumptions have been made regarding, among other things, the Company's ability to carry on its exploration and development activities, the timely receipt of required approvals, the price of gold, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers should not place undue reliance on forward-looking information. Perseus does not undertake to update forward-looking information, except in accordance with applicable securities laws. This market announcement was authorised for release by Perseus's Managing Director and CEO, Jeff Quartermaine ASX/TSX CODE: PRUCAPITAL STRUCTURE:Ordinary shares: 1,372,184,529Performance rights: 10,383,593REGISTERED OFFICE:Level 2437 Roberts RoadSubiaco WA 6008Telephone: +61 8 6144 DIRECTORS:Mr Rick Menell Non-Executive ChairmanMr Jeff QuartermaineManaging Director & CEOMs Amber Banfield Non-Executive Director Ms Elissa CorneliusNon-Executive DirectorMr Dan Lougher Non-Executive Director Mr John McGloinNon-Executive Director CONTACTS:Jeff QuartermaineManaging Director & FormanInvestor Relations+61 484 036 RyanMedia Relations (Australia, US, UK)+61 420 582 AkinMedia Relations (Africa)oa@ in to access your portfolio
