Turaco Gold (TCG) investor relations material

Project overview and resource growth

• Afema Gold Project in Côte d'Ivoire has a maiden JORC Ore Reserve of 1.9Moz and a Mineral Resource Estimate of 4.65Moz, with rapid resource growth of over 2Moz in 18 months.

• The project covers over 1,600km², with all deposits located within a 10km radius and remains open in all directions, indicating strong exploration potential.

• Ownership is 80%, with a 20% partner option to contribute or convert to a 1.5% NSR at decision to mine.

Production profile and economics

• Planned annual production exceeds 200,000oz for over 10 years, with 230,000oz in year 1 and a LoM average of 196,000oz.

• Life of Mine (LoM) is 65.1Mt @ 1.1g/t gold for 2.3Moz, with a strip ratio of 4.8:1 and gold recoveries above 87%.

• Cash operating cost is US$1,268/oz and AISC is US$1,508–1,699/oz depending on gold price scenarios.

• At US$3,500/oz gold, post-tax NPV5% is US$2.1B with a 79% IRR and a payback period of 13 months.

Mining, processing, and infrastructure

• Mining is open pit only, with no village relocations required and minimal resettlement action plan.

• Processing includes 4Mtpa CIL and 2Mtpa flotation circuits, with comprehensive metallurgical testwork supporting 87–88% gold recovery.

• Development capital is US$410M plus US$32M pre-production mining, with capital intensity of US$2,094/oz annual production.

• Project benefits from proximity to hydro power, sealed roads, and contract mining to reduce upfront capex.