55 Zone – Mineral Reserve Statement

As of December 31, 2016

Proven
Mineral Resources
Probable
Mineral Resources
Proven and Probable
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)
55 Zone 317 18.06 184 1,453 10.01 467 1,770 11.45 651
Stockpiles 26 13.26 11 0 0.00 0 26 13.26 11
Total 343 17.69 195 1,453 10.01 467 1,796 11.47 662
  • Mineral Reserves are reported in accordance with NI 43-101 with an effective date of December 31st, 2016 and are included in Mineral Resources. 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 estimate is reported at a cut-off grade of 4.5g/t gold based on a gold price of US$1,250 per ounce.
  • Reserve estimates include mining dilution and mining recovery. Mineral Reserve estimates include mining dilution at grades assumed to be 1.3 g/t. Mining dilution and recovery factors vary with specific reserve sources and are influenced by several factors including deposit type, deposit shape and mining methods.
  • All figures have been rounded to reflect the relative accuracy of the estimates.

The Mineral Reserves were prepared under the supervision of Benny Zhang, Principal Mining Engineer at SRK, PEng (PEO # 100115459). Mr. Benny Zhang is a Qualified Person as defined by NI 43-101.

55 Zone – Mineral Resource Statement

As of December 31, 2016

Measured
Mineral Resources
Indicated
Mineral Resources
Measured and Indicated
Mineral Resources
Inferred
Mineral Resources
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)
55 Zone 265 26.88 229 1,076 14.73 509 1,341 17.13 738 669 16.14 347
Total 265 26.88 229 1,076 14.73 509 1,341 17.13 738 669 16.14 347
  • Mineral Resources are reported in compliance with National Instrument 43-101 (“NI 43-101”) with an effective date of December 31st, 2016. 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 Sébastien Bernier, Principal Resource Geologist at SRK Consulting (Canada). Mr. Bernier is a Qualified Person as defined in NI 43-101.