Cora Gold Ltd. · LSE:CORA
Cora Gold — Corporate Update (November 2022)
25 slides from Cora Gold's corporate update, Nov 21, 2022
Slide 1: West African Gold Developer
West African Gold Developer
Slide 2: Disclaimer
Disclaimer The information being released by the Cora Gold Limited (the "Company") today & attached to the RNS (the “Materials”) are being released to provide additional information with respect to the business of the Company. The Materials are not intended to form, & shall not be treated as, the ba
Slide 3: Sanankoro Gold Project Optimised Economics overview
Sanankoro Gold Project Optimised Economics overview Located in Yanfolila Belt, Southern Mali 1.5Mtpa conventional CIL and gravity processing plant Open pit, low strip ratio oxide ore Deliver: . s post tax and royalties (US$1,750 gold price); 52.3% IRR * 1.2 Year payback period * 6.8 years Reserve li
Slide 4: Sanankoro Timeline Overview
Sanankoro Timeline Overview Focused on commencing mine construction Q2 2020 Q3 2022 Q4 2022 Financing & Mine DFS field work Resource Enhanced final e completed Update Exploration Target permitting Construction 4 2021 Q3 2022 Q4 2022 Q4 2022 Commissioning Resource ESIA Environmental Optimised Front E
Slide 5: Sanankoro Economics
Sanankoro Economics 1.5Mtpa throughput plant Reserves only, Post tax US$1,750 USS1,650 First full year production 84,860 First full year Free Cash Flow (‘FCF’) UssSm 71.8 LoM avg Production/year Ozs Au 56,000 LoM Grade g/t 13 Project CAPEX (incl. contingency) ussm 90 Strip ratio Waste:ore 4.6:1 Alli
Slide 6: Production and financial profile
Production and financial profile Strong early production and cashflow rt | TT year Year3 | Yearé Production ozs 38,691 84,860 80,096 69,750 47,934 29,388 29,591 Grade g/t 1.6 1.9 2.1 1.5 11 0.7 0.6 5 . waste: feedin Strip ratio ae Most 471 4,.94:1 3.32:1 4.68: A OTE stockpile Opportunity for Reserve
Slide 7: Capex and opex breakdown
Capex and opex breakdown Including contingency 4 = Sanankoro Plant Costs 50.4 ‘ome Gold Project EPCM & Insurance 55) Mining pre-production 8.9 TSF 12.7 Other costs (infrastructure, power etc) da Total 90 Mining cost 28 » een Mining total cost 15.8 . — Process & maintenance 10 sae & & G&A 3.1 C1 cost
Slide 8: Sanankoro Maiden Reserves & MRE
Sanankoro Maiden Reserves & MRE Reserve and Resource inventory with Exploration Target Upside Area Mineral ve Material type Tonnes Grade Metal content class yp (kt) (g/t Au) (koz) Probable Oxide 3,767 1.27 154.2 Probable Transitional 519 2.38 39.8 Probable All zones 4,287 141 194.0 Probable Oxide 2,
Slide 9: Saprolite soft rock
Saprolite soft rock Siguiri and Sadiola— now in hard rock No soft rock peers in London Nampala - soft rock and transitional Heavily weathered rock Deep weathering profile Mine life dominated by soft rock Processing plant designed for mainly soft material Mining cost lower -no drill and blast Process
Slide 10: Oxide ore
Oxide ore Material at Sanankoro does not turn into hard rock, even at depths of +100m Om 7™m ER a alin \ssalaamedll i hae ep , RN case! OF Ay 9, ME sees ls! ieee uit a od 15m 24m 42m 50m 10 | Q4 2022 Corporate Presentation 59m 67m 70m 75m 80m 90m ‘CORA GOLD SANANKORO. ‘ ——— _—_—_ MRT 5 Ogre
Slide 11: Sanankoro: Financing
Sanankoro: Financing LIONHEAD Sanankoro has been significantly de-risked with the financing support of Lionhead (term sheet under review) » Up to USS30m funding to support the development of Sanankoro (RNS 21 Nov ‘22) * Lionhead Capital, to act as lead investor and arranger on behalf of a consortium
Slide 12: Appendix
Appendix 12 |Q4 2022 Corporate Presentation
Slide 13: Corporate
Corporate Market Cap GBP £12.31m* Brookstone Business Inc. 28.59% Share Price 4.25p* Lord Farmer (Red Kite founder) 14.12% 52 Week Range 4.00p -12.00p Key Ventures Holding Ltd (plus Paul 4.72% Quirk (a Non-Executive Director of Nomad finnCap Cora)) Joint Broker finnCap/ Turner Pope Total (inc. Direc
Slide 14: Project Portfolio
Project Portfolio Portfolio of prospective gold assets across Mali & Senegal, located amongst multiple operational mines Kenieba Window, West Mali Yanfolila Gold Belt, Southern Mali (maDINA FoULBE Rees 41.2/3m \7.9/3m Kyossantd MAKO GOLD BELT. ¥ Sabodala - Oromin 4.4 Moz O To Dakar. -~ ‘P Yalea 2 Mo
Slide 15: Detailed CAPEX
Detailed CAPEX Civil works Earth works Machinery & equipment (a) Infrastructure Transport First fills Mine camp ESIA channels Project management (b) Insurance & guarantees Generator / thermal plant Tailings storage facility (‘TSF’) (c) Resettlement action plan Owners costs Mining pre-production Cont
Slide 16: Process Flow Sheet
Process Flow Sheet Conventional gravity and CIL circuit 16 |Q4 2022 Corporate Presentation
Slide 17: Mineral Resource Estimate 2022
Mineral Resource Estimate 2022 Mineral Resource Estimate Completed by CSA Global (UK) Ltd Area Classification | Tonnes Grade Content (kt) (g/t Au) (koz) +14% increase in total ounces from previous MRE in November 2021 Significant upgrade to Indicated category using a 0.4g/t cut off and a US$1,900/o0
Slide 18: 2022 Mineral Resource Estimate
2022 Mineral Resource Estimate + Prepared by CSA Global (UK) Ltd in accordance with JORC 2012 Code pit constrained using a US$1,900 gold price and 0.4 g/t cut-off grade + Represents a 14% increase in total MRE ounces compared to previous MRE from November 2021 with a 22% increase in oxide Indicated
Slide 19: Sanankoro Exploration Target
Sanankoro Exploration Target Exploration Target in addition to the Indicated and Inferred Mineral Resource of 24.9 Mt at 1.15 g/t Au for 920Koz Au Near surface Exploration Potential resources (oxide & transitional) make up over 90% of the total potential, which indicates that more shallow, oxide and
Slide 20: 2021-2022 Drill Campaign
2021-2022 Drill Campaign * 50,000m drilled across two drill campaigns Sanankoro Gold Project * Updated MRE delivered July 2022 i _ * Top results from 2021-2022 drilling: 49m @ 15.55 g/t incl 8m @ 89.12 g/t 19m @ 31.56 g/t incl 6m @ 95 g/t 2m @ 146.43 g/t dacenmrs 32m @ 7.83 g/t incl 4m @ 53.86 g/t e
Slide 21: Sanankoro: Selin
Sanankoro: Selin % > ow © © g SF SF SS 2 § ae . . 6m @ 1.88 g¢/tAu * Drilling delivered 550m of increased resource length to 17m @ 0.63 g/t Au maiden MRE — remains open in all directions 9m @ 3.37 g/tAu * Positive results from the middle of Selin where there 9m @ 1.89 ¢/tAu was previously a gap betw
Slide 22: ESG
ESG Environmental and Social Impact Assessment (‘ESIA’) submitted July 2022 to Direction Nationale de |'Assainissement et du Contréle des Pollutions et des Nuisances (‘DNACPN’), the governing administration for environmental matters in Mali Environmental Permit awarded October 2022, recognising Cora
Slide 23: A team to deliver
A team to deliver Track record of discovery & development in Africa 7" (Yee) CEO & Director CFO & Company Secretary Project Manager + +13 years’ experience within the natural resources industry -Previously worked for HUM advancing its +6Moz of gold resources in West Africa & operational gold mine in
Slide 24: Board and advisers
Board and advisers NED & Chairman NED NED NED + +24 years’ experience within the wider natural resources industry - Started his career with SAMAX Gold in Tanzania before going on to work in equity research & corporate finance roles - Served as fund manager for Altus Capital Limited - Recent role as
Slide 25: gold
gold Bert Monro, CEO +44 (0)20 3441 3439 [email protected] www.coragold.com @coragold