Q&A with CEO Colin Patterson

About this update from Bluebird Mining Ventures Ltd.

Bluebird Merchant Ventures Ltd / EPIC: BMV.L / Market: FTSE / Sector: Mining 29 December 2022 Bluebird Merchant Ventures Ltd ('Bluebird' or 'the Company') Q&A with CEO Colin Patterson   Bluebird Merchant Ventures Ltd, a gold company primarily focused on bringing historic mines back into production is pleased to provide a Q&A with CEO Colin Patterson regarding its 100% owned, licensed, high grade narrow vein mining projects, the Kochang Gold and Silver Mine and Gubong Gold Mine in South Korea and the Batangas Gold Project in the Philippines.    Why are you so excited about the Kochang and Gubong Projects? We own 100% of the Kochang and Gubong historic mines and there is a defined route to low capex / low cost (estimated sub US$900 per oz) production with a cumulative target of producing + 75,000oz Au per annum in the medium term and 100,000oz Au in the long term.  Both were closed in the 1970s when the gold price was sub US$100 per oz, not because of lack of resources, and we believe that with modern technology they have at least a recoverable c.1.5Moz Au.  First production is targeted for 2023 and we currently have a market cap of c.£12m.   Why are you developing Kochang and Gubong? Our investment criteria are based on finding historic mines that have the following characteristics: · High grade ore - in our case extractable ore of c.6 g/t Au · Excellent data - we have Korea Resources Corporation ('KORES') drilling and historic mining data which has been positively correlated and added to by our team to understand the true geological potential of the projects which have been 3D modelled · Resource potential - both projects have multiple ore bodies that are open at depth and along strike which at Kochang is 2.5km of which 600m between the two mining areas hasn't been touched. Gubong has a strike potential greater than 2km and current depth to around 500m below surface, which is currently 1km on dip · Excellent access - sealed roads lead up to both mines · Established infrastructure - power is readily available as well as telecommunications, internet and towns nearby · Low capex and high margin - the metallurgy and processing routes are extremely straight forward Basically, both Kochang and Gubong fit our model perfectly and have even exceeded expectations.   Do you have the experience to create value for shareholde...

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