Eastern Desert Exploration (“EDX”)

The EDX Blocks, awarded in 2021 comprise 3,000km2 of greenfield exploration tenements within the Egyptian section of the Arabian Nubian Shield.

This area has not been explored in the modern era using current exploration methods and represents a significant land package of highly prospective but underexplored geological terrane. The land package is divided into 3 Blocks:

• Nugrus Block (1,086km²) - surrounding the Sukari Mining Concession targeting potential satellite deposits and low capex mill feed to the Sukari processing plant.
• Um Rus Block (524km²) - located 50km north of Sukari, exploring for a potential standalone operation.
• Najd Block (1,374km²) - located 100km northwest of Sukari in the Central Eastern Desert, exploring for a potential standalone operation.

Based on remote sensing studies – mapping of artisanal mining sites, the interpretation of satellite imagery and mineral mapping techniques - all three blocks of ground are known to be highly prospective.

Fieldwork commenced in 2022 with a systematic exploration approach aimed at identifying and prioritising commercial scale opportunities. The initial exploration strategy is based on two principal objectives:

• Systematic reconnaissance scale exploration covering all three Blocks of ground, using BLEG sampling of the extensive dry wadi (drainage) systems. This will enable the safe relinquishment of ground following the first two-year exploration cycle as well as to identify areas of potential gold mineralisation that have not been already discovered by artisanal miners; and,
• Systematic surface exploration using exploration geochemistry and geological mapping of high priority targets, that have already been identified based on remote sensing studies, to generate early drill targets.