Hummingbird Resources PLC First Gold Pour at Kouroussa Gold Mine (2361C)

TIDMHUM

RNS Number : 2361C

Hummingbird Resources PLC

09 June 2023

Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining

9 June 2023

Hummingbird Resources pl c

("Hummingbird" or the "Company")

First Gold Pour at Kouroussa Gold Mine

Hummingbird Resources plc ("Hummingbird" or the "Company") (AIM: HUM) is pleased to announce first gold pour at the Kouroussa Gold Mine ("Kouroussa") in Guinea on 08 June 2023, ahead of the end of Q2-2023 schedule and on budget.

Commissioning at Kouroussa commenced early May 2023 and having achieved first gold pour, the mine is now expected to ramp up to commercial production during H2-2023. Kouroussa is a high-grade, low-cost mine and is the Company's second operating gold asset in West Africa. It is expected to produce an average of 120,000 to 140,000 ounces ("oz") of gold for the first three years of commercial production , and average 100,000 oz per annum over the current life of mine at an AISC profile of c.US$1,000 per oz.

A more detailed update on Group-wide FY-2023 guidance to be provided once Kouroussa is ramping up.

Dan Betts, CEO of Hummingbird, commented:

"The achievement of first gold pour at our second operating mine, Kouroussa in Guinea, is a major strategic milestone for the Company, transforming Hummingbird into a multi-asset, multi-jurisdiction gold producer, that more than doubles our production profile to 200,000+ oz pa. Kouroussa is the second mine Hummingbird has built on time and on budget, made up of a construction team of African and predominately (80%) Guinean personnel. I would like to thank all our dedicated Kouroussa project team and multiple construction partners in achieving this outstanding outcome. Our operations team is now focussed on safely ramping up towards name plate production, expected during H2-2023".

Kouroussa Gold Mine operational updates:

   --      First gold pour was successfully poured at Kouroussa on 08 June 2023. 

-- Mining continues in preparation for name plate production expected during H2-2023, with a ROM pad stockpile currently of 120,000 tonnes available for on-going commissioning and ramp-up.

   --      The Kouroussa processing plant is a one million tonne per annum ("Mtpa") capacity standard carbon-in-leach ("CIL") plant. 

-- Comprehensive community engagement plans have been implemented, including daily, monthly and quarterly meetings with local communities and local authorities covering a variety of topics such as: project progress; recruitment; local content; environmental monitoring; and health and safety.

-- Further, implementation of detailed community project and livelihood restoration programmes is ongoing as the mine becomes fully operational.

-- Detailed Kouroussa exploration plans are being developed with a view to re-initiated exploration drilling plans in H2 2023 / 2024, with the focus to increase Kouroussa's current Reserves base of 647,000 oz at 4.15 g/t.

**ENDS**

Notes to Editors:

Hummingbird Resources plc (AIM: HUM) is a leading multi-asset, multi-jurisdiction gold producing Company, member of the World Gold Council and founding member of Single Mine Origin (www.singlemineorigin.com). The Company currently has two core gold projects, the operational Yanfolila Gold Mine in Mali, and the Kouroussa Gold Mine in Guinea, which will more than double current gold production when at commercial production. Further, the Company has a controlling interest in the Dugbe Gold Project in Liberia that is being developed by joint venture partners, Pasofino Gold Limited. The final feasibility results on Dugbe showcase 2.76Moz in Reserves and strong economics such as a 3.5-year capex payback period once in production, and a 14-year life of mine at a low AISC profile. Our vision is to continue to grow our asset base, producing profitable ounces, while central to all we do being our Environmental, Social & Governance ("ESG") policies and practices.

   For further information, please visit   hummingbirdresources.co.uk   or contact: 
 
 Daniel Betts,         Hummingbird Resources       Tel: [phone] 
  CEO                   plc                         6660 
  Thomas Hill, 
  FD 
  Edward Montgomery, 
  CD 
 James Spinney         Strand Hanson Limited       Tel: [phone] 
  Ritchie Balmer        Nominated Adviser           3494 
                      --------------------------  ---------------------------- 
 James Asensio         Canaccord Genuity Limited   Tel: [phone] 
  Gordon Hamilton       Broker                      8000 
                      --------------------------  ---------------------------- 
 Bobby Morse           Buchanan                    Tel: [phone] 
  Oonagh Reidy          Financial PR/IR             5000 
  George Pope                                       Email: [e-mail] 
                      --------------------------  ---------------------------- 
 

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June 09, 2023 02:00 ET (06:00 GMT)