Cora Gold Ltd. · LSE:CORA
Cora Gold — Corporate Update (February 2023)
26 slides from Cora Gold's corporate update, Feb 27, 2023
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 Overview
Sanankoro Gold Project Overview » Located in Yanfolila Belt, Southern Mali * 15Mtpa conventional CIL and gravity processing plant from an open pit operation with low strip ratio oxide ore * Delivers post tax and royalties (US$1,750 gold price); * 52.3% IRR 1.2 Year payback period 6.8 years Reserveli
Slide 4: Sanankoro Timeline Overview
Sanankoro Timeline Overview Focused on commencing mine constructi on Q2 2022 Q3 2022 Q4 2022 Financing & 7 DFS field work Resource Enhanced fina " Mine completed Update Exploration Target permitting Construction Q4 2021 Resource Update Q3 2022 ESIA submitted 1 Complete permitting and * financing as
Slide 5: Sanankoro Economics
Sanankoro Economics 1.5Mtpa throughput plant Reserves only, Post tax US$1,750 US$1,650 First full year production 84,860 84,860 First full year Free Cash Flow (‘FCF’) UsSm 71.8 64.2 LoM avg Production/year Oz Au 56,000 56,000 LoM Grade g/t 13 13 Project CAPEX (incl.contingency) ussm 90 90 Strip rati
Slide 6: Production and financial profile
Production and financial profile Strong early production and cashflow Production oz 38,691 84,860 80,096 69,750 47,934 29,388 29,591 56,000 Grade g/t 16 19 2.1 15 11 0.7 0.6 13 , . waste: , . feeding . Strip ratio Ore 7371 ATL 4941 3321 4681 127d cla Opportunity for 4611 Reserve case resource AISC U
Slide 7: Capex and opex breakdown
Capex and opex breakdown Including contingency 4 Sanankoro ‘shoursto . Plant Costs 50.4 smio — Gold Project EPCM & Insurance 5.5 Mining pre-production BS) TSF 12.7 Other costs (infrastructure, vsté‘é‘r 5 power etc) Total 90 a © 2022 New Gold discoveries Mining cost 28 PF ratngs storage racy fig Proc
Slide 8: Sanankoro Maiden Reserves & MRE
Sanankoro Maiden Reserves & MRE Reserve and Resource inventory with Exploration Target Upside Area Mineral Reserve Material type Tonnes Grade Metal content classification 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 1.41 194.0 Pr
Slide 9: Saprolite soft rock
Saprolite soft rock Siguiri and Sadiola — nowin 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 59m 7m hak i ny aay ep 67m Ras i OF 3 pea res Ea Carers acme 0 me, sy 15m 70m | pana 24m 75m 42m 80m 50m 90m 10
Slide 11: Sanankoro: Financing
Sanankoro: Financing LIONHEAD Raised US$20 million to support development of Sanankoro into production * February ‘23 fundraise of US$20 million, comprising both equity and convertible loan notes* » USS4m Equity Financing » USS$16m Convertible Financing * The raise was completed with strong support
Slide 12: Appendix
IX Append 12
Slide 13: Corporate
Corporate Market Cap GBP £12m* Brookstone BusinessInc. 28.59% Share Price 4.30p* Lord Farmer (Red Kite founder) 14.69% 52 Week Range 3.50p-8.70p Key Ventures Holding Ltd (plus Paul 4.72% Quirk (a Non-Executive Director of Nomad finnCap Cora)) Joint Broker finnCap/ Turner Pope Total (inc. Directors &
Slide 14: New Producer Outperformance
New Producer Outperformance Share appreciation leading to production 300% Share Price Performance in 18 months to First Gold 250% 200% Share price 150% (%) 100% ALS _ 50% I. OH ~ 0% -50% =——West African Resources —=AtlanticGoldCorp —Roxgold Pretium 14 | Corporate Presentation | Q12023
Slide 15: Project Portfolio
Project Portfolio KENIEBA WINDOW, WEST MALI MADINA FOULBE 412/3m 7.9/3m MALI MAKO GOLD BELT, Sabodala - Oromin 4.4 Moz ° To Bamako Gounkoto 3 Moz -- ee 772" F Tabatote & Segala 85 Moz To Dokar,. 6 ‘a GOLD BELT SENEGAL 0) 40 Permit Boundan Gold Deposits Cc) y @ km MajorStructures 412/3m = g/t Au over
Slide 16: Detailed CAPEX
Detailed CAPEX Civil works Earthworks 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 17: Process Flow Sheet
Process Flow Sheet Conventional gravity and CIL circuit 17 | Corporate Presentation | Q12023 QB
Slide 18: Mineral Resource Estimate 2022
Mineral Resource Estimate 2022 Mineral Resource Estimate Completed by CSA Global ( Area Classification Tonnes Grade Content (kt) (g/t Au) (koz) + +14% increase intotal ounces from previous MRE in November 2021 + Significant upgrade to Indicated category using a 0.4g/t cut off and a US$1,900/0z optim
Slide 19: 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 20: 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 shallower, oxide an
Slide 21: 2021-2022 Drill Campaign
2021-2022 Drill Campaign * 50,000m drilledacross two drill campaigns Sanankoro * Updated MRE deliveredjuly 2022 Beid Peers * Top results from 2021-2022 drilling: 49m @ 15.55 g/t incl8m@ 89.12 g/t 19m @ 31.56 g/t incl6m@ 95 g/t 2m @ 146.43 g/t 32m@7.83 g/t incl 4m @ 53.86 g/t 32m@ 6.92 g/t 56m@ 3.54
Slide 22: Sanankoro: Selin
Sanankoro: Selin * Drilling delivered 550m of increased resource length to maiden MRE- remains open in all directions * Positive results from the middle of Selin where there was previouslya gap between two pit shells * Presence of oxide gold mineralisation of potentially economic grades & widths con
Slide 23: ESG
ESG Environmental and Social Impact Assessment (‘ESIA’) submitted July 2022 to Direction Nationale de |'Assainissement et du Contrdle des Pollutions et des Nuisances (‘DNACPN’), the governing administration for environmental matters in Mali Environmental Permit awarded October 2022, recognising Cora
Slide 24: A team to deliver
A team to deliver Track record of discovery & development in Africa (aay) 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 Ma
Slide 25: 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 onto work in equity research & corporate finance roles - Served as fund manager for Altus Capital Limited - Recent role as H
Slide 26: Contact
gold Bert Monro, CEO +44 (0)20 3441 3439 ceo@coragold.com www.coragold.com @coragold