Nyang'hwale Gold Project

Summary Report of the Nyang'hwale Gold Project Geology:

1. Project Location:

The project is located in the Nyang’hwale area, Geita Province in northern Tanzania.

• Distance: 75 km southeast of Geita Town and 60 km southwest of Mwanza.
• Area: Approximately 8.53 square kilometers (licensed under PL/28305/2024).

2. Regional and Local Geology:

• Part of the Sukumaland Greenstone Belt in the Lake Victoria Goldfield.
• Includes mafic and ultramafic rock units influenced by regional and contact metamorphism.
• Geological structures include north-south shear zones which significantly impact gold mineralization.

3. Mineralization:

• Gold mineralization is associated with shear zones and mineral alterations including silica-carbonate-pyrite.
• Oxidized layers extend up to 50 meters deep, much of which has been extracted by artisanal mining.

4. Exploration History:

• Exploration activities began in the 1960s, involving surface mapping, soil sampling, and drilling.
• Collaborations between various companies from 1990 to 2010 contributed to the development of mineral models.

5. Mineral Resource Estimates:

• Geological modeling based on drilling data and structural analysis.
• Identified resources include 1,914,676 tons of rock with an average grade of 2.78 grams per ton (171,132 ounces of gold).

6. Opportunities and Risks:

• Opportunities: Potential for improving mineral models and increasing accuracy in resource estimation.
• Risks: Presence of voids from past mining activities and possible impacts of adjacent mines on boundaries and reserves.

This project demonstrates high potential for gold mining development but requires thorough evaluation and management of identified risks