SOLG MRE, page-36

Mon 5 Feb 2018

<> Berenberg analyst stated re: Alapala high-grade core etc [See above post]. If link is faulty, type "Solgold Telegraph" & it is on the second line entitled: Solgold elated by Copper Discovery in Ecuador of 3 Jan 2018.

<>"ECUADOR BACK ON TRACK TO BE A MINING COUNTRY"- by Michael Potter, MSc, Independent Mineral Exploration Geologist, Qualified Person for N143-101 & Competent Person for JORC dated 11 Sep 2017.

Quote:

"Potential For More New Mines"- Heading
"Of particular, c u r r e n t interest is the Alpala copper - gold porphyry deposit... No resource estimate has yet been released. However, current drilling .....and r e s u l t s include 7 intersections with drill-hole lengths of 950-1340 metres of grades of 0.4-0.8% copper and 0.4-0.9 g/t gold..

Provided the deposit meets current expectations, a 50,000 tonne/day mine, or bigger, based on this SINGLE PROJECT would make a m a j o r contribution to ensuring Ecuador*s continued production of gold and copper b e y o n d 2030.

Furthermore, the high - grade starts at depth of about 500m below the surface. Consequently, any eventual mine may be a b u l k underground operation comparable to Cadia East in Australia, where Newcrest, who have just invested an additional USD 40 million into Alpala [Lazenby 2017] are currently producing over 20 million tonnes of ore per year from a p u r e l y u n d e r g r o u n d operation [Newcrest Mining Ltd 2016]. "

<> "Solgold-Cascabel Exploration Update"-BRR Media, 3 Jan 2018
[An audio interview with Nick Mather]

Link: https://twitter.com/brr_media.uk/status/948581775453884416
or Link: www.solgold.com.au/media-coverage/ [Line 7, Jan 2018]

Quote:

Nick Mather: "ECONOMIC POTENTIAL ALPALA- Bright Indeed."

Comment:

In the Berenberg comment [above post to this] the analyst is looking at Alpala and in particular the high-grade cores & first production etc.

In the article/blog written by Michael Potter, Independent Exploration Geologist, the target deposit of interest is also Alpala dated 11 Sep 2017. At this date, the Maiden Resource Estimate [MRE] was n o t yet released.

The MRE announcement was dated 3 Jan 2018 + Alpala High Grade Expansion announcement dated 26 Jan 2018. www.solgold.com.au

Mr Potter mentioned that Alpala c o u l d potentially be a SINGLE PROJECT provided it met expectations.

Worded different, Nick Mather used the term Economic Potential. So the audio interview with Nick Mather of interest given it is on the day of the Alpala MRE.

I notice that forums may not have all caught up with this latest dynamics of Alpala and block cave.

I have provided a link to what SP Angel also said and it refers also to high-grade cores re:Alapala.

The forum discussion is still that of Aguinaga with the more surface expression which may be open - pit [not drilled yet] .

All will be made clear, as usual, in an official announcement from Solgold.

Please check as there can be errors.