Turaco Gold LtdASX: TCG

Precious Metals Summit Presentation

· MarketScreener

Afema Gold Project

2.5Moz and Growing Rapidly

Emerging Multi Million Ounce Gold Project Cote d'Ivoire

Precious Metals Summit | Beaver Creek

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

SeptemberPage 1 2024

turacogold.com.au

Corporate Snapshot | ASX:TCG

Share Price (9 Sept '24)

Shares on Issue

$0.25

751M

Top 100

Market Capitalisation

Investments & Receivable1

Shareholders

A$188M

A$5M

>80%

Management

7%

Endeavour Mining Plc

6%

Institutional

18%

High Net Worth (>$500k)

45%

Other

24%

Cash (30 Jun 24)

Enterprise Value

A$18M

A$165M

$0.30

2.5Moz Maiden

Exploration

JORC Resource

$0.25

Permits

A$18m

Granted

Raise at 16c

$0.20

A$6.6m

Minister

Raise at 9c

Approves

Acquisition

186m @ 1.65g/t

Agreement

$0.15

84m @ 1.73g/t

to Acquire

74m @ 1.09g/t

Afema

52m @ 1.32g/t

$0.10

First Drilling

67m @ 8.43g/t

61m @ 1.64g/t

30m @ 5.18g/t

59m @ 1.49g/t

45m @ 2.53g/t

22m @ 4.99g/t

87m @ 1.04g/t

$0.05

105m @ 1.61g/t

28m @ 2.23g/t

$0.00

75m @ 1.01g/t

2/09/23

2/10/23

2/11/23

2/12/23

2/01/24

2/02/24

2/03/24

2/04/24

2/05/24

2/06/24

2/07/24

2/08/24

2/09/24

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 up +500% in past 10yrs to ~1.8Moz pa
    • Remains severely underexplored despite >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 newly 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 50MW 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

Maiden 2.5Moz JORC Resource and Set to Grow

Afema Project JORC 2012 Mineral Resource Estimate1

Deposit

Tonnes

Gold Grade

Ounces

Woulo Woulo (0.5g/t cut-off)

42.6Mt

0.9g/t

1,250,000

Jonction (0.7g/t cut-off)

10.1Mt

2.0g/t

660,000

Anuiri (0.7g/t cut-off)

11.6Mt

1.6g/t

600,000

Total

2,520,000

(figures may not add up due to appropriate rounding)

1 Refer ASX announcements dated 27 August 2024

  • Maiden JORC Resource <6 months from Turaco's acquisition at a cost (incl. total acquisition costs) of less than US$7 per attributable ounce
  • 60% of JORC Resource reported in the 'Indicated' category
  • Located entirely within the granted Mining Permit
  • Only 3 deposits included | Excludes several drilled deposits along the +25km Afema Shear (+250,000m drilling)
  • All deposits remain OPEN in every direction
  • Compelling exploration
    • Multiple mineralised 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-scaledrill targets
      • Northern extensions of the Afema Shear (Toilesso - Kotoka)
      • Nianemlessa-AffienouShear
      • Extensions and repetitions of the Woulo Woulo splay
      • Intrusive contact anomalies (Bafia, Koffikro, Ayame, etc)

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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 2-3kmwidth
  • ~250,000m of historical drilling along the Afema Shear confirming a multi-millionounce gold system
  • Fifteen known drilled deposits along the Afema Shear 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 across each deposit by Turaco

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Afema Shear | Jonction Deposit

Jonction JORC 2012 Mineral Resource Estimate1

Cut-Off Classification

Tonnes

Gold Grade

Ounces

0.7g/t 0.5g/t

Indicated

5.9Mt

2.0g/t

390,000

Inferred

5.8Mt

1.6g/t

310,000

Total

11.7Mt

1.8g/t

700,000

Indicated

5.2Mt

2.2g/t

370,000

Inferred

4.9Mt

1.8g/t

290,000

Total

10.1Mt

2.0g/t

660,000

(figures may not add up due to appropriate rounding)

  • Located at the northern end of the Afema Shear
  • ~24,000m drilling (22,000m DD / 2,000m RC) on 30-40m spacing
  • Continuous high-grade shoot up to 40m width, plunging to the south with 490,000 ounces at 3.0g/t at lower cut-offof 1.5g/t1
  • OPEN in all directions
  • Potential additional high-grade shoots along strike to the north and south
  • 77% - 85% total gold recovery from fresh mineralisation through grind, sulphide flotation, concentrate UFG & cyanide leaching1
    • Very low 2.6% to 4.7% mass recovery to concentrate at >94% gold recovery
    • No 'preg robbing' carbon

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

1 Refer ASX announcements dated 27 August 2024

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