Ann: Drilling and Sampling Update at Kamilombe and Mwilu Projects, page-2

As part of the 6 month due diligence program Taruga proceeded to twin 5 of the KCC/Gecamines holes shown in Figure 1, which covered a potential strike length of 1,000m to better understand previously reported results.

Niton XRF results for sample pulps prepared for KMDD001 have defined an upper 30m zone mineralised in cobalt at the same level as that defined by KCC/Gecamines and a further 4 zones mineralised in copper. Two of these zones totaling roughly 35m were not previously reported by KCC.
The Company has reviewed the Niton results and while mineralisation is demonstrated, the variations in readings and comparative check samples indicate that it is unreliable to report numbers.

The Company has dispatched samples to ALS Global and will report these laboratory analysis to avoid doubt. It is suspected that the variation in Niton results is due to a higher iron content. The remaining 4 holes at Kamilombe demonstrate stratigraphic correlation with the existing drill holes, however slight variations are noted due to faulting and was easily identified in the core. Black oxides and anomalous spot Niton results were generally observed where expected. Thicknesses of the mineralized intersections are close to true thickness as bedding in the highly weathered stratigraphic units appears to be flat.
All samples have been sent to ALS Global’s laboratory in Lubumbashi where arepresentative pulp from each sample will be sent to their accredited laboratory in Johannesburg for 4 acid digest and ICP-AES finish. All results are expected in 3 to 4 weeks.