Ann: Acquisition of Gekogold Pty Ltd, page-13

Extract from Golden Eagle Mining - Shareholder update March 2017

https://www.goldeneaglemining.com.a...7/03/GEE-Shareholder-Update-27-March-2017.pdf

GEKO GOLD OPEN PIT PROJECT The Geko Project is continuing to advance to a decision point to mine. An Open Pit Mining proposal was submitted to the Department of Minerals and Energy in August 2016. A drilling program was completed in November 2016 to increase confidence in several key areas, this included geotechnical drilling, water bore drilling, and mineral resource confirmation drilling. An updated JORC 2012 MRE was completed in November 2016, incorporating the new drill hole data. The Bankable Feasibility Study was completed in February 2017 with discussions continuing with potential funding partners. In addition to the planned mining operation at Geko, there is significant potential for resource extensions and new discoveries within the Geko project area.

Geko Mineral Resource Estimate (MRE) Ordinary Kriging and Inverse Distance Weighted estimation techniques have been used for a total of 2.5 Mt @1.6 g/t gold for 130k oz contained gold. This is more conservative than the earlier estimate completed in April 2016 of 2.7 Mt @ 1.7 g/t gold for 145k oz contained gold. A breakdown of the Mineral Resource by resource category is provided in the table below.

So still no funding partner just yet... hmmm

DYOR