Bagassi South – Mineral Resource Statement

As of July 19, 2017

Measured
Mineral Resources
Indicated
Mineral Resources
Measured and Indicated
Mineral Reserves
Inferred
Mineral Reserves
Tonnes
(000)
Grade
g/t Au
Ounces
(000)
Tonnes
(000)
Grade
g/t Au
Ounces
(000)
Tonnes
(000)
Grade
g/t Au
Ounces
(000)
Tonnes
(000)
Grade
g/t Au
Ounces
(000)
QV1
Structure
0 0.00 0 352 16.6 188 352 16.6 188 79 13.0 33
QV’
Structure
0 0.00 0 0 0.00 0 0 0.00 0 51 22.0 36
Bagassi
Total
0 0.00 0 352 16.6 188 352 16.6 188 130 16.6 69
  • Bagassi South Mineral Resources are reported in compliance with NI 43-101 with an effective date of July 19th, 2017. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. For further information, please refer to the technical report dated December 20, 2017 and entitled “Technical Report for the Yaramoko Gold Mine, Burkina Faso” (the “Technical Report”), available the Company’s website and on SEDAR at www.sedar.com.
  • Underground Mineral Resources are reported at gold grade cut-off of 5.0 g/t Au, based on a gold price of US$1,250 per ounce.
  • All figures have been rounded to reflect the relative accuracy of the estimates.

The Mineral Resource estimate was prepared under the supervision of Yan Bourassa, P.Geo (APGO #1336), VP Geology for Roxgold Inc., a Qualified Person within the meaning of NI 43-101.

Bagassi South – Mineral Reserve Statement

As of November 6, 2017

Proven
Mineral Resources
Tonnes
(000)
Grade
g/t Au
Ounces
(000)
QV1 Structure 458,000 11.54 170,060
Total 458,000 11.54 170,060
  • The Mineral Reserve estimation used in the Technical Report only considered the indicated portion of the Mineral Resources. The effective date of the Mineral Reserve estimate is November 6, 2017. For further information, please refer to the technical report dated December 20, 2017 and entitled “Technical Report for the Yaramoko Gold Mine, Burkina Faso” (the “Technical Report”), available the Company’s website and on SEDAR at www.sedar.com.
  • The Mineral Reserve estimation assumed a minimum mining width of 1.2 metres, included 26.8% stope dilution at a grade of 1.22 g/t and was base gold price of $1,250 per ounce.
  • Mineral Reserves are included in Mineral Resources and are reported at a cut-off grade of 4.8 g/t Au based on a gold price of US$1,250 per ounce.

The Mineral Resource estimate was prepared under the supervision of Yan Bourassa, P.Geo (APGO #1336), VP Geology for Roxgold Inc., a Qualified Person within the meaning of NI 43-101.