Turaco Gold LtdASX: TCG

Company Presentation - Diggers and Dealers

· Issued by Turaco Gold Ltd

Afema Gold Project

Emerging Multi Million Ounce Gold Project

Cote d'Ivoire

Diggers and Dealers | August 2024

This presentation has been approved for release to the ASX by the Board of Turaco Gold Ltd

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Corporate Snapshot | ASX:TCG

Share Price (2 Aug 24)

Shares on Issue

$0.22

750M

Top 100

Market Capitalisation

Investments & Receivable1

Shareholders

A$165M

A$5M

>80%

Cash (30 Jun 24)

Enterprise Value

A$18M

A$142M

Management

7%

Endeavour Mining Plc

6%

Institutional

18%

High Net Worth (>$500k)

45%

Other

24%

$0.25

A$18m

Raise at 16c

$0.20

A$6.6m

Ministerial

Raise at 9c

Approval of

$0.15

Acquisition

74m @ 1.09g/t

52m @ 1.32g/t

Agreement to

Acquire Afema

First Drilling

61m @ 1.64g/t

$0.10

67m @ 8.43g/t

59m @ 1.49g/t

30m @ 5.18g/t

87m @ 1.04g/t

45m @ 2.53g/t

$0.05

22m @ 4.99g/t

105m @ 1.61g/t

28m @ 2.23g/t

75m @ 1.01g/t

$0.00

1/08/2023

1/09/2023

1/10/2023

1/11/2023

1/12/2023

1/01/2024

1/02/2024

1/03/2024

1/04/2024

1/05/2024

1/06/2024

1/07/2024

1/08/2024

1 5M shares in Many Peaks Minerals Ltd, 0.3M share in Awale Resources Ltd, $1.2M of shares in Aurum Resources Ltd payable for Boundiali South permit and potential US$1.5M receivable from Fortuna Mining Corp for residual 20% interest in Tongon North

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Board and Management

Justin Tremain

John Fitzgerald

Alan Campbell

Bruce Mowat

Rob Seed

Elliot Grant

Daouda Zombo (Zombo)

Managing Director

  • Experienced resources company director and executive
  • Previously Managing Director of Exore Resources Ltd (Cote d'Ivoire) until its takeover by Perseus Mining Ltd
  • Founding Managing Director of Renaissance Minerals Ltd (Cambodia) until its takeover by Emerald Resources, where he served as Executive Director

Non-Exec Chair

  • Highly experienced mining financier having held senior positions with various Investment Banks
  • Non-ExecutiveDirector of Northern Star Resources Ltd, Chair of Medallion Metals Ltd and former Chair of Exore Resources Ltd

Non-Exec Director

  • +30 yrs in global exploration and mining for major and junior companies
  • Former Managing Director of Papillon Resources Ltd (Fekola discovery) which was acquired by B2 Gold Ltd

Non-Exec Director

  • +30 years of exploration experience
  • Resolute Mining Ltd's General Manager - Exploration
  • Extensive West African exploration and mine operating experience

Chief Operating Officer

  • +25yrs experience in Africa, Southeast Asia and Australia
  • Responsible for multiple economic gold and base metal discoveries
  • Led resource delineation and feasibilities on several West Africa gold projects (Burkina Faso and Guinea) over +10 years

Chief Geologist

  • 15yrs experience in West Africa exploration (Burkina Faso and Cote d'Ivoire).
  • Previously Exploration Manager at Exore Resources Ltd, Teranga Gold Corporation and Gryphon Minerals Ltd

Exploration Manager

  • Geologist, Masters Econ. Geology (Quebec)
  • +15 years' experience in West Africa
  • Previously Gryphon Minerals, Teranga Gold Corporation and Endeavour Mining

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The Right Address | The Country

Cote d'Ivoire

Without question, Cote d'Ivoire is a premier jurisdiction of West Africa

  • West African gold production more than doubled in past 10 years to 17Moz pa (Aust. 10Moz pa)

• West African discovery scale & grade | 67Moz at 1.5g/t discovered in last 10yrs from 15 discoveries (Aust. 19Moz at 0.9g/t)

    • Cote d'Ivoire the key contributor to this growth & discoveries with production +500% in past 10yrs to ~1.8Moz pa
    • Remains severely underexplored with >34% of West Africa's Birimian greenstone
  • Nine operating gold mines (Barrick, Endeavour, Perseus, Fortuna, Tietto, Allied Gold) and three at DFS/development decision (Montage Gold, Centamin, Endeavour)
  • Rapid permitting & low capex per ounce | Endeavour's Lafigue Gold Mine 4 years from drilling to construction
  • Excellent infrastructure | HV transmission lines, hydro power, bitumen roads, skilled local workforce
  • Highest rated sovereign in sub-Sahara Africa (S&P Global Rating BB-/positive)
  • IMF economic growth forecast 6.5% pa in 2024 (up from 6.2% pa in 2023). Second largest economy in West Africa with highest GDP per capita
  • West African leading standout in 2023 Frasers Investment Attractiveness Index (4th highest ranking in Africa) +12 years political stability and low security risk

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Afema Gold Project

World Class Terrain

  • Total project area >1,250km2 in southeast Cote d'Ivoire
    • Central granted Mining Permit covering 227km2
    • Three recently granted contiguous Exploration Permits covering 812km2
  • Mining Permit valid to Dec 2033 (20-year renewal thereafter to Dec 2053)
    • Supported by a Mining Convention
  • Exploration Permits 12-years of tenure (Jun 2036)
  • West Africa's best infrastructure
    • 120km drive from Abidjan and port facilities | 2-hourdrive
    • New highway traverses southern project area connecting Cote d'Ivoire to Ghana
    • Adjacent to major Cote d'Ivoire hydropower scheme with HV transmission lines

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The Right Address | Afema Project Location

Convergence of World Class Gold Belts

  • Covers the extension and convergence of two of Ghana's most prolific gold belts into southeast Cote d'Ivoire
    • Afema-Bibani-Chiranoshear marking eastern margin of Sefwi belt
    • Asankragwa shear within the Kumasi basin
  • Deposits along eastern margin extension of the Sefwi-Bibiani Belt host to deposits such as Bibiani (6.5Moz) and Chirano (5.5Moz)
  • Asankragwa shear host to deposits such as Obotan (6Moz) and Essase (6Moz)

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The Right Address | Afema Project Geology

Target Rich Environment

  • >US$40 million of past exploration expenditure within the Mining Permit
    • > 250,000m of past drilling along the +25km 'Afema Shear'
    • Past production of 125,000 ounces at >3g/t from shallow heap leach pits in 1990's
    • Several drilled deposits along the +25km Afema Shear,
    • All drilled deposits remain OPEN in every direction
  • Multiple equally compelling structures, each extending 5-25kms, untested with drilling
  • No known drilling within Exploration Permits | extensive geochemical sampling (+23,000 samples) with several well-defined,large-scale drill targets
    • Extensions of the Afema Shear (Toilesso - Kotoka) and known deposits (Jonction-Anuiri-Asupiri-Woulo Woulo)
    • Nianemlessa-AffienouShear
    • Extensions and repetitions of the Woulo Woulo splay
    • Intrusive contact anomalies
      • Bafia
      • Koffikro
      • Ayame

Multi rig drilling program underway | >13,000m RC/DD drilling June quarter

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Afema Shear

Multi Million Ounce Gold System

  • +25kms of the eastern margin of the extension of the Sefwi Gold Belt in Ghana - a truly worldclass gold belt
  • Multiple structures across a ~3km width
  • The entire focus of 250,000m of historical drilling, confirming a multi-millionounce gold system
  • Fifteen known drilled deposits of which only two have been tested with deeper drilling
    • Jonction
    • Anuiri
  • +5kms of untested prospective geology between Jonction and Anuiri with high tenor gold-in-soils
  • Recent new shallow discovery at Woulo Woulo on a north-south splay off the Afema Shear
  • Systematic metallurgical test work program underway across each deposit
  • Maiden JORC resource estimate imminent

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Afema Shear | Jonction Deposit

  • Positioned at the northern end of the Afema Shear
  • ~300m strike extent
  • Continuous high-grade(3-5g/t) shoot plunging to the south
  • Potential additional high-grade shoots to the north and south
  • Gold associated with pyrite
  • Drill results include1:
  • 40.6m @ 7.13g/t gold from 0m
  • 24m @ 9.95g/t gold from 18m
  • 14.5m @ 10.68g/t gold from 55.5m
  • 12m @ 12.39g/t gold from 192.25m
  • 17m @ 3.21g/t gold from 87m
  • 9m @ 5.49g/t gold from 106m
  • 14m @ 5.05g/t gold from 87.5m
  • 12m @ 6.83g/t gold from 415m
  • 16.4m @ 5.46g/t gold from 442.4m

OPEN in all directions

Jonction Long Section (looking west showing southerly plunging high grade shoot)

1 Refer ASX announcements dated 21 November 2023 and 17 April 2024

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