Ann: Papillon Delivers Outstanding PFS for Fekola, page-3

re: Ann: Papillon Delivers Outstanding PFS fo... Minimum 9 years production...plenty of scope and aniticipated resource upgrade.
“The completion of the PFS for the
Fekola Project confirms that the Project is large scale, low cost and extremely robust. In fact, our
sensitivities show that, using our current mining schedules, Fekola will still produce average pre-tax (post
royalty) operating cash flows in excess of US$130 million per annum using a flat US$1,100 per ounce
gold price. During the initial nine year mine life, gold production averages in excess of 306,000 ounces
per annum, with all-in-sustaining cash costs of approximately US$725 per ounce. This scale of planned
production will elevate Papillon into the mid-tier of gold producers, while operating with low all-insustaining
cash costs of production.”