Turaco Gold (TCG) investor relations material

Project growth and resource expansion

• Resource base expanded from 1.5 million to 4.6 million ounces in two years, with regular updates and ongoing extensional drilling expected to further increase resources.

• Maiden reserve of 2 million ounces established at a conservative gold price, with ongoing drilling indicating significant upside potential.

• Woulo Woulo deposit discovered and rapidly grown to 1.7 million ounces, with further drilling targeting both open pit and underground expansion.

• Additional deposits such as Anuiri, Asupiri, and Begnopan are being expanded, with high-grade zones and ongoing drilling supporting continued resource growth.

• New resource estimate expected in November, feeding into the definitive feasibility study (DFS) and supporting future exploration.

Project development and economics

• Pre-feasibility study (PFS) completed, with DFS targeted for April next year and final investment decision (FID) by mid-year.

• Capital development cost estimated at AUD 450 million, with project NPV over AUD 2 billion and payback period of 9–12 months at current gold prices.

• Fully permitted mining license in place; environmental certification expected by early 2027.

• Power and infrastructure costs are low due to proximity to reliable hydroelectric power and major roads, with no need for village relocations.

• Production expected to reach 220,000–250,000 ounces per year, with potential for further increases as throughput expands.

Exploration and future plans

• Focus remains on resource extensions and new discoveries along the Afema Shear and within the Sefwi Belt, with multiple high-priority targets yet to be drilled.

• Four rigs operating, drilling 8,000–10,000 meters per month, with ongoing infill, metallurgical, and geotechnical drilling.

• New discoveries anticipated as exploration steps out from current deposits, leveraging extensive soil anomaly data.

• Project area is secure, with no significant security or relocation issues, and benefits from strong infrastructure and grid connectivity.

• Concrete pouring and construction expected to begin around November next year, following FID and permitting.