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Red Rock Resources plc Mineral Resource Update

23/02/2021 1:03pm

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Red Rock Resources plc

23 February 2021

Red Rock Resources PLC

Mineral Resource Update

at the Mikei Gold Project, Kenya (JORC, 2012)

Mineral Resource of 723 koz at 1.49 g/t Reported

22 February 2021

Red Rock Resources Plc ("Red Rock" or "the Company"), the natural resource development company with interests in gold, copper/cobalt, manganese and minerals, announces the completion of a Mineral Resource estimate ("MRE") updated to comply with the 2012 edition of the Code published by the Australasian Joint Ore Reserves Committee ("JORC") over parts of Red Rock's exploration license at Mikei, Migori, Kenya comprising the Mikei Gold Project ("MGP"). The supporting documentation (the "Report") was prepared by CSA Global (UK) Limited ("CSA Global").

The Report documents the results of Mineral Resource estimation work initially conducted in 2011 and 2012 and revised in 2021 in order to report the Mineral Resource according to JORC (2012) guidelines. MGP was assessed for reasonable prospects for eventual economic extraction (RPEEE) by applying conceptual benchmarked costs to calculate conceptual reporting pit shells. Any material outside or below the reporting pit shell was updated as "Not Classified" since it did not meet the criteria to be reported as a Mineral Resource.

The total Mineral Resource, for both Inferred and Indicated categories at a 0.5 g/t Au cut-off, is estimated at:

15.13 Mt @ 1.49 g/t Au with contained metal content of 723 koz Au

Key Points

   --    MRE covered the five prospect areas covered by the 2012 MRE 

-- Application of RPEEE principles required by JORC (2012) led to the exclusion of some previously estimated Mineral Resource areas and a consequent 39% reduction in reported ounces of gold

   --    Gold grade of the MRE for the same reason increased by 18% to 1.49 g/t 

-- Some material previously stated as Indicated in the oxidised zone has been downgraded to Inferred, reflecting uncertainties relating to the terrain model and the extent of artisanal activity since 2012

-- Detailed recommendations for a first stage step-out drilling programme made to potentially increase the size of the MRE

Red Rock Chairman Andrew Bell comments: "We are delighted to announce an updated Mineral Resource at Mikei, with a higher gold grade. These conceptual pit shells used to test for reasonable prospects of extraction will now act as a springboard for our future exploration which will be focused on Resource enhancement.

After having been for several years prevented from carrying out work on the property while other nearby projects in Tanzania and Kenya progressed, the first necessary steps on our return were to conduct updated baseline and Resource studies, and to prepare an immediate programme to upgrade and extend our Mineral Resource.

Updating our Mineral Resource Estimate to JORC (2012) was essential if we were to make public reference to it, and the exercise of complying with it has been invaluable in two ways.

First, the application of conceptual benchmarked costs to calculate conceptual reporting pit shells ensures that the reported Mineral Resource is aligned with a modern, industry-recognised method of testing for reasonable prospects for eventual economic extraction. This together with the higher grade within the conceptual pit shells enables us to report a Mineral Resource that looks more robust in the context of current gold prices.

Secondly, the exercise of working out what, on the assumptions made, lay outside the pit shell but nearby or along strike showed us where targeted step-out drilling might prove effective in extending the pit, and so gave us our first 14, and mainly shallow, new drill hole locations. These we can test without delay while planning further programmes for infill and step-out drilling and for testing mineralisation at depth.

We now have the opportunity to build on this solid base and it is our belief that the potential for expansion at and around Mikei is strong".

Background

The MGP comprises two prospecting licences which cover approximately 245 km(2) , namely PL/2018/0202 and PL/2018/0203, over the Migori Greenstone Belt, and are located along the northern margin of the Tanzanian Craton. The licences extend 63 km along strike of the belt, which also hosts the Kilimapesa Gold Mine. The North Mara Gold Mine, which is operated by Barrick Gold, is located 30 km to the south of the MGP in Tanzania.

Regional exploration in the project area began in the early 1930s and culminated in the identification and subsequent mining of the Macalder volcanogenic massive sulphide (VMS) base metal mine.

In 2010, Red Rock began the extensive task of file organisation, data digitisation and compilation of available historical data, following which CSA Global performed cross-checks and validation steps prior to loading it into a Structured Query Language (SQL) database using Datashed. During 2011 and 2012, Red Rock undertook an infill drilling programme at all five of the lode gold prospects; MK, Kakula-Kalange-Munyu (KKM), Kakula-Kalange-Munyu West (KW), Nyanza (NZ), and Gori Maria (GM) within PL/2018/0202.

http://www.rns-pdf.londonstockexchange.com/rns/0738Q_1-2021-2-23.pdf [Figure 1: Total field aeromagnetic imagery for the Mikei area collected by Red Rock, with drill collars annotated in yellow and surface structural dip and dip-directions as red triangles]

The Report documents the results of Mineral Resource estimation work initially conducted in 2011 and 2012 and revised in 2021 in order to report the Mineral Resources according to JORC (2012) guidelines. No new data is available since the 2012 report, and as such, those estimates remain valid and disclosure to JORC (2012) is the focus of the Report.

Mineral Resource Estimate and Comparison with Previous Estimate

The Mineral Resource has been estimated using geological models developed by Red Rock and CSA Global. The MRE has been undertaken using ordinary kriging (OK) on volume block models for all prospects. Consideration of natural grade populations, along with top cutting, compositing and variography has been completed for all prospects. This has produced robust 3D grade models for each prospect, that can be used for conceptual mine planning studies and further exploration planning.

The MRE is reported in accordance with JORC (2012) guidelines, following the application of reasonable prospects of eventual economic extraction by means of pit shells supported by conceptual cost and gold price forecast parameters. The Mineral Resource is reported at a cut-off of 0.5 g/t Au.

The JORC Code (2012) defines a Mineral Resource as a concentration or occurrence of solid material of economic interest in or on the Earth's crust in such form, grade (or quality), and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade (or quality), continuity and other geological characteristics of a Mineral Resource are known, estimated, or interpreted from specific geological evidence and knowledge, including sampling. Mineral Resources are subdivided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories.

The Mineral Resource estimate for all MGP prospects is reported according to the JORC (2012) guidelines. The geology for each prospect is broadly understood. Sectional interpretations were undertaken using geological information, structural measurements, and grade relationships. The statistical grade characteristics of the individual prospects are generally well understood, and a reasonable amount of density determinations were conducted to ensure an acceptable level of confidence in the bulk density of the material being reported as Mineral Resources.

Prior to Mineral Resource classification, a review of all historical and modern supporting data was undertaken. CSA Global concluded that there is adequate confidence in both the historical and Red Rock data to classify areas of the Mineral Resource as either Indicated or Inferred. Classification was further reviewed on a prospect-by-prospect basis, following consideration of data quality, data spacing, continuity of mineralised domains, and confidence in the grade estimate.

Where appropriate, a coherent zone of mineralisation, located around the more densely sampled core, was assigned an Indicated classification. The extremities of each block model, that were supported by fewer data and were therefore less reliably informed, were classified as Inferred.

All prospects, except GM, were classified as Indicated and Inferred Mineral Resources. GM was classified as Inferred only, mainly due to the relatively low average RC drill recovery of 62%.

Due to the uncertain lateral extent and depth of artisanal mining at the Mikei prospects, and the lack of topographic data to accurately deplete the Mineral Resource, all oxidised material was classified as Inferred Mineral Resources.

The term "reasonable prospects for eventual economic extraction" (RPEEE) implies a realistic inventory of mineralisation which, under assumed and justifiable technical, economic and development conditions, might, in whole or in part, become economically extractable. The assumption is that the Mikei prospects will be extracted by open pit mining. The MGP block models were assessed for RPEEE by applying conceptual benchmarked costs to calculate reporting pit shells. The following conceptual parameters were applied for open pit mining:

   --    Mining cost: US$3/tonne 
   --    Processing cost: US$22/tonne ore 
   --    Pit slope angle: 52deg 
   --    Recovery: 90% 
   --    Royalty: 7% 
   --    Gold price: US$ 1,800/troy ounce. 

The Mineral Resource is reported as that material within the RPEEE pit shells, and above a cut-off grade of 0.5 g/t Au. The Mineral Resource is reported as of 18 January 2021 (Table 1).

Table 1: Mineral Resource for the Mikei prospects reported at a cut-off of 0.5 g/t Au, as of 18 January 2021

 
 Area             Indicated                   Inferred                      Total 
         --------------------------  --------------------------  -------------------------- 
          Tonnage   Grade   Content   Tonnage   Grade   Content   Tonnage   Grade   Content 
            (Mt)     (g/t     (koz      (Mt)     (g/t     (koz      (Mt)     (g/t     (koz 
                     Au)      Au)                Au)      Au)                Au)      Au) 
         --------  ------  --------  --------  ------  --------  --------  ------  -------- 
 KKM       7.88     1.10     277.8     2.63     1.11     93.5      10.51    1.10     371.3 
 KW        0.61     1.10     21.6      0.32     1.42     14.7      0.93     1.21     36.3 
 NZ        1.04     3.96     132.0     0.32     3.17     32.2      1.35     3.78     164.1 
 GM          -        -        -       1.91     1.37     84.0      1.91     1.37     84.0 
 MK        0.28     5.48     49.0      0.15     3.83     18.2      0.43     4.91     67.1 
-------  --------  ------  --------  --------  ------  --------  --------  ------  -------- 
 Total     9.81     1.52     480.4     5.32     1.42     242.6     15.13    1.49     723.0 
-------  --------  ------  --------  --------  ------  --------  --------  ------  -------- 
 

Note:

   --    Computational errors may exist due to rounding. 

For comparison, there follows the MRE reported in 2012 (Table 2):

Table 2: Mineral Resource for the Mikei prospects reported at a cut-off of 0.5 g/t Au, as of December 2012

 
 Area             Indicated                   Inferred                      Total 
         --------------------------  --------------------------  -------------------------- 
          Tonnage   Grade   Content   Tonnage   Grade   Content   Tonnage   Grade   Content 
            (Mt)     (g/t     (koz      (Mt)     (g/t     (koz      (Mt)     (g/t     (koz 
                     Au)      Au)                Au)      Au)                Au)      Au) 
         --------  ------  --------  --------  ------  --------  --------  ------  -------- 
 KKM       16.34    1.00     525.3     1.41     1.15     52.1      17.75    1.01     577.5 
 KW        1.13     1.07     38.9      3.03     1.02     99.4      4.16     1.04     138.2 
 NZ        1.17     3.73     140.3     1.15     1.70     62.9      2.32     2.72     203.2 
 GM          -        -        -       3.78     1.16     141.0     3.78     1.16     141.0 
 MK        0.77     4.05     100.3     0.58     1.76     32.8      1.35     3.07     133.1 
-------  --------  ------  --------  --------  ------  --------  --------  ------  -------- 
 Total     19.41    1.29     805.0     9.95     1.21     387.1     29.36    1.26    1,192.1 
-------  --------  ------  --------  --------  ------  --------  --------  ------  -------- 
 

The 2021 Mineral Resource utilised the same block models that were used to report the 2012 Mineral Resource. No additional exploration data have been collected at the project since reporting the Mineral Resource in 2012, therefore the grade and density estimates are still valid as they are representative of the available data. Two criteria have been updated to report the 2021 Mineral Resource:

1) Artisanal mining has continued at the Migori prospects since the 2012 Mineral Resource. A detailed topographic survey was not available, such that the block models could be depleted by the mining. Without more detailed information, the assumption is that all artisanal mining has taken place in the oxidised zone. For the 2021 Mineral Resource, all oxidised material that was previously classified as Indicated in 2012, has been downgraded to Inferred. This downgrade represents an 85% decrease in Indicated oxide tonnage, and an 83% decrease in Indicated oxide gold content, to the Inferred category.

2) An industry recognised test for RPEEE was applied to the block models to report the 2021 Mineral Resource. The assumption is that Mineral Resources at the Migori prospects will be extracted by open pit mining. Conceptual mining costs were applied to calculate RPEEE pit shells in which the Mineral Resource was reported.

Recommendations

CSA Global has made the following recommendations for future work at the MGP:

   --    Improvements in reliability of collar survey data for historical drilling. 

-- Improvements in QAQC protocols and follow up of QAQC results to ensure accurate and precise assay data.

-- Improvements to geological logging such that a reliable geological model for the prospect can be constructed and oxide weathering profiles be developed.

-- High resolution topographic survey to obtain a more detailed DTM for the area, and to accurately deplete the Mineral Resource models. Any underground workings not surveyed by aerial means, need to be assessed with regards to impact on the Mineral Resource.

-- Additional bulk density determination is required, particularly in the oxide and transitionary zones to ensure robust tonnage estimates.

-- Further metallurgical testwork should be undertaken to better characterise material within weathering horizons and domains.

-- In order to improve the confidence (classification) of future MREs at Migori, infill drilling should be considered.

-- Targeted step-out drilling is recommended to potentially increase the size of the Mineral Resource. A preliminary drill plan was compiled to assist in future drill planning (Table 3).

   Table 3:   Preliminary step-out drill plan 
 
 ID            X          Y         Z     Depth   Dip   Azimuth 
           --------  ----------  ------  ------  ----  -------- 
 CSA_001    646,990   9,888,148   1,277    290     0      60 
---------  --------  ----------  ------  ------  ----  -------- 
 CSA_002    647,106   9,888,156   1,279    50      0      60 
---------  --------  ----------  ------  ------  ----  -------- 
 CSA_003    646,933   9,888,370   1,287    50      0      60 
---------  --------  ----------  ------  ------  ----  -------- 
 CSA_004    646,919   9,888,340   1,286    80      0      60 
---------  --------  ----------  ------  ------  ----  -------- 
 CSA_005    644,908   9,889,000   1,252    80      0      60 
---------  --------  ----------  ------  ------  ----  -------- 
 CSA_006    644,951   9,889,041   1,250    70      0      60 
---------  --------  ----------  ------  ------  ----  -------- 
 CSA_007    644,924   9,889,035   1,250    60      0      60 
---------  --------  ----------  ------  ------  ----  -------- 
 CSA_008    644,330   9,889,379   1,220    90      0      50 
---------  --------  ----------  ------  ------  ----  -------- 
 CSA_009    644,227   9,889,472   1,214    30      0      55 
---------  --------  ----------  ------  ------  ----  -------- 
 CSA_010    644,874   9,889,540   1,240    80      0      60 
---------  --------  ----------  ------  ------  ----  -------- 
 CSA_011    644,815   9,889,758   1,241    60      0      50 
---------  --------  ----------  ------  ------  ----  -------- 
 CSA_012    641,060   9,890,936   1,162    85      0      60 
---------  --------  ----------  ------  ------  ----  -------- 
 CSA_013    641,076   9,890,970   1,163    85      0      60 
---------  --------  ----------  ------  ------  ----  -------- 
 CSA_014    640,847   9,891,078   1,165    50      0      60 
---------  --------  ----------  ------  ------  ----  -------- 
 

Competent Person Statement

The information related to the estimation of Mineral Resources in this release has been compiled by Mr Anton Geldenhuys, MEng, PrSciNat, MGSSA, MGASA of CSA Global (UK) Ltd. He is a member of a recognised professional organisation and has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code) and as defined in the Guidance Note for Mining, Oil and Gas Companies published by AIM.

CSA Global (UK) Ltd has given and not withdrawn its consent to the release of the technical information in this announcement in the form and context in which it appears.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For further information, please contact:

Andrew Bell 0207 747 9990 Chairman Red Rock Resources Plc

Scott Kaintz 0207 747 9990 Director Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited

Mark Treharne 0203 700 2500 Broker Pello Capital Limited

JORC Code, 2012 Edition - Table 1

Section 1: Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

 
  Criteria    JORC Code explanation                                                            Commentary 
              ---------------------  ------------------------------------------------------------------------------------------------------------------------------- 
Sampling      Nature and quality of  Red Rock (2011 to 2012) 
 techniques   sampling (e.g. cut      Diamond (DD) drillholes - core diameter 
              channels,               of 47.6 mm (NQ) and the upper weathered 
              random chips, or        and oxidised portions at 63.5 mm (HQ) 
              specific                and 85 mm (PQ), Core split in half using 
              specialised industry    a diamond core saw along a marked centre 
              standard measurement    line and half core sampled at 1 m lengths 
              tools appropriate to    and submitted for assay. 
              the minerals under      Reverse circulation (RC) drilling - 
              investigation,          RC chips collected for every metre at 
              such as down hole       drill pad. Rods flushed every 3 m on 
              gamma                   the completion of a run. Samples then 
              sondes, or handheld     dried and split using a 50:50 riffle 
              XRF instruments,        splitter to produce 1, 2, 3 or 4 m composites 
              etc.).                  depending on geology. Final samples 
              These examples should   submitted to the assay laboratory weighed 
              not be taken as         approximately 500 g each. 
              limiting                Historical drilling 
              the broad meaning of    Auvista Minerals NL (Auvista) RC drilling 
              sampling.               - RC chips collected on site at 1 m 
              Include reference to    intervals and initially composited to 
              measures taken to       4 m samples onsite; later in program 
              ensure                  the 1 m samples were taken to the camp 
              sample representivity   prep-facility for compositing. 
              and the appropriate     Kansai Mining Corporation Ltd (KMC) 
              calibration of any      DD drilling - HQ and NQ diameter drill 
              measurement             core split in half using a diamond core 
              tools or systems        saw along a marked centre line. Half 
              used.                   core sampled and submitted for assay. 
              Aspects of the 
              determination 
              of mineralisation 
              that 
              are Material to the 
              Public Report. 
              In cases where 
              'industry 
              standard' work has 
              been 
              done this would be 
              relatively 
              simple (e.g. 'reverse 
              circulation drilling 
              was used to obtain 1 
              m samples from which 
              3 kg was pulverised 
              to produce a 30 g 
              charge 
              for fire assay'). In 
              other cases more 
              explanation 
              may be required, such 
              as where there is 
              coarse 
              gold that has 
              inherent 
              sampling problems. 
              Unusual 
              commodities or 
              mineralisation 
              types (e.g. submarine 
              nodules) may warrant 
              disclosure of 
              detailed 
              information. 
------------  ---------------------  ------------------------------------------------------------------------------------------------------------------------------- 
Drilling      Drill type (e.g.       Red Rock (2011 to 2012) 
 techniques   core,                   Diamond core diameter was 47.6 mm diameter 
              reverse circulation,    (NQ) and shallow and oxidised upper 
              open-hole hammer,       portions drilled using 85 mm (PQ) and 
              rotary                  63.5 mm (HQ) core diameters. 
              air blast, auger,       Drill core from Kakula-Kalange-Munyu 
              Bangka,                 (KKM), Kakula-Kalange-Munyu West (KW) 
              sonic, etc.) and        and Nyanza (NZ) were orientated using 
              details                 a Reflex EZ-Trac(TM). None of the drilling 
              (e.g. core diameter,    at Gori Maria (GM) and MK were orientated. 
              triple or standard      Auvista (1994 to 2002) 
              tube,                   Pre-1995 - RC drilling using Smith Capital 
              depth of diamond        10R3H rig fitted with an Atlas Copco 
              tails,                  750 cfm/400 psi compressor. Holes drilled 
              face-sampling bit or    with a 5" (125 mm) Halco face sampling 
              other type, whether     hammer on a 4" (100 mm) RC rod string. 
              core is oriented and    Post-1996 - Smith Capital 14R6H rig 
              if so, by what          mounted on a Sammil 50 truck with an 
              method,                 Atlas Copco 960 cfm/360 psi compressor 
              etc.).                  and a 4" RC rod string. A second rig 
                                      was purchased in March 1997 which was 
                                      a modified and improved version of the 
                                      first rig with additional air capacity 
                                      (1920 cfm/720 psi). 
                                      KMC (2002 to 2009) 
                                      Boyles BB37 mobile/skid mounted drill 
                                      rig with the capacity to drill HW (for 
                                      hole portions requiring casing), HQ 
                                      and NQ sized drill core. Five holes 
                                      still had orientation marks visible 
                                      - but method utilised is unknown. 
                                      The 592 drillholes used in the Mineral 
                                      Resource estimate (MRE) comprised: diamond 
                                      core drilling (26%), RC pre-collar and 
                                      DD core tails (4%), RC drilling (70%). 
------------  ---------------------  ------------------------------------------------------------------------------------------------------------------------------- 
Drill sample  Method of recording    Red Rock (2011 to 2012) 
 recovery     and assessing core      DD recovery was recorded, and no issues 
              and                     reported. For the verification drilling, 
              chip sample             drillers made use of drilling fluids 
              recoveries              and shortened drill runs to maximise 
              and results assessed.   core recovery in areas of broken ground. 
              Measures taken to       In the upper weathered and oxidised 
              maximise                parts of the drillholes, larger core 
              sample recovery and     diameters (HQ and PQ) were used. 
              ensure representative   RC recoveries were a concern in NZ due 
              nature of the           to downhole water that resulted in potential 
              samples.                for contamination in the cyclone. In 
              Whether a               GM, poor recoveries were associated 
              relationship            with poor driller experience and procedures 
              exists between sample   and practices. GM average recovery was 
              recovery and grade      62.3%. All other areas, RC recovery 
              and                     averaged 90%. 
              whether sample bias     No relationship between recovery and 
              may have occurred due   grade, therefore no bias was observed. 
              to preferential         Historical drilling 
              loss/gain               Recoveries for historical DD and RC 
              of fine/coarse          drilling not recorded. No information 
              material.               is available regarding how recovery 
                                      was maximised for the historical drilling. 
                                      Any relationship between grade and recovery 
                                      cannot be investigated for the historical 
                                      data. 
------------  ---------------------  ------------------------------------------------------------------------------------------------------------------------------- 
Logging       Whether core and chip  Red Rock (2011 to 2012) 
              samples have been       All RC holes were logged at the drill 
              geologically            site by the supervising geologist. All 
              and geotechnically      DD core was logged at the Migori Camp. 
              logged                  All logging was done using templates 
              to a level of detail    compiled by CSA Global (UK) Limited 
              to support              (CSA Global). Observations included 
              appropriate             colour, oxidation, texture, grain size, 
              Mineral Resource        mineralisation, alteration, and lithology 
              estimation,             code. All geological logging was recorded 
              mining studies and      on paper and then digitised. 
              metallurgical           37 of the Red Rock Resources Plc (Red 
              studies.                Rock) DD holes and five of the KMC holes 
              Whether logging is      had orientated structures logged. In 
              qualitative             summary, there were five holes from 
              or quantitative in      KKM, 18 holes from KW and 14 holes from 
              nature.                 NZ. 
              Core (or costean,       Rock quality designation (RQD) data 
              channel,                for cored drillholes was recorded. 
              etc) photography.       Historical drilling 
              The total length and    Auvista RC drilling - hard copy data 
              percentage of the       was scanned and captured digitally by 
              relevant                Red Rock. The same database library 
              intersections logged.   was used as for the Red Rock drilling. 
                                      No information on KMC logging was available. 
                                      Geotechnical logging was not undertaken. 
                                      It was not possible to define the nature 
                                      of historical logging as qualitative 
                                      or quantitative, nor was it possible 
                                      to define the total length logged, as 
                                      useful logging data was unavailable. 
------------  ---------------------  ------------------------------------------------------------------------------------------------------------------------------- 
Subsampling   If core, whether cut   Red Rock 
 techniques   or sawn and whether     Drill core was sawn in half along a 
 and sample   quarter, half or all    marked centre line using a DD core saw. 
 preparation  core taken.             Same half of the core was consistently 
              If non-core, whether    sampled, and most samples submitted 
              riffled, tube           for assay were 1 m in length. 
              sampled,                RC samples were dried and split using 
              rotary split, etc and   a 50:50 riffle splitter to produce 1 
              whether sampled wet     m, 2 m, 3 m or 4 m composites, depending 
              or dry.                 on geology. Final samples submitted 
              For all sample types,   to the assay laboratory weighed approximately 
              the nature, quality     500 g each. 
              and appropriateness     All Red Rock samples were crushed on 
              of the sample           site and a split sent to ALS Mwanza 
              preparation             where the samples were milled, and pulps 
              technique.              then sent to ALS Johannesburg where 
              Quality control         they were assayed. 
              procedures              Auvista 
              adopted for all         Limited details available regarding 
              sub-sampling            how the samples were split and composited. 
              stages to maximise      The sample preparation was done at an 
              representivity          onsite facility (purchased from Engineering 
              of samples.             and Sampling Systems, Australia in 1995) 
              Measures taken to       with a 10-12 sample per hour capacity. 
              ensure                  From 1996, samples were reduced to 170 
              that the sampling is    g pulps before shipment. Samples were 
              representative of the   sent to Analabs Laboratories Pty Ltd 
              in-situ material        (Western Australia) as noted from available 
              collected,              assay certificates. No additional details 
              including for           on the sample preparation are available. 
              instance                KMC 
              results for field       DD drilling - HQ and NQ diameter drill 
              duplicate/second-half   core split in half using a diamond core 
              sampling.               saw along a marked centre line. Half 
              Whether sample sizes    core sampled and submitted for assay, 
              are appropriate to      Sample preparation and analysis done 
              the                     at Humac Laboratories in Mwanza. Sample 
              grain size of the       prep using P10 code included drying, 
              material                jaw crushing to --6 mm and cone crushing 
              being sampled.          to -2 mm, and riffle splitting to produce 
                                      a 1 kg sample. Sand washing between 
                                      samples was used where visible gold 
                                      was noted to avoid contamination between 
                                      high-grade gold samples. 
------------  ---------------------  ------------------------------------------------------------------------------------------------------------------------------- 
Quality       The nature, quality    Red Rock 
 of assay     and appropriateness     Samples were prepared by ALS in Mwanza 
 data and     of the assaying and     and assayed by ALS in Johannesburg. 
 laboratory   laboratory procedures   The assay methods were: 
 tests        used and whether the     *    Au-AA26 (5 g fire assay with a AAS finish) for gold 
              technique is                  (range 0.01-100 ppm Au) 
              considered 
              partial or total. 
              For geophysical          *    ME-OG62 (four-acid digest and AES finish) for silver, 
              tools,                        copper, lead, and zinc. 
              spectrometers, 
              handheld 
              XRF instruments, etc,   Auvista 
              the parameters used     The samples were analysed at Analabs 
              in determining the      in Western Australia in 1996 to 1997. 
              analysis                The 4 m composites were sent for fire 
              including instrument    assay with aqua regia digest from a 
              make and model,         30 g charge with an AAS finish. Samples 
              reading                 >0.15 g/t Au had individual 1 m samples 
              times, calibrations     re-sent for fire assay from a 50 g charge 
              factors applied and     with an AAS finish. Base metal geochemical 
              their derivation,       data was obtained from pressed powder 
              etc.                    pellet XRF analyses. 
              Nature of quality       KMC 
              control                 Samples were analysed at Humac Laboratories 
              procedures adopted      between March 2001 and January 2010. 
              (e.g.                   A straight fire assay was used (gold 
              standards, blanks,      four-method) on a 50 g sample with an 
              duplicates,             AAS finish. High grade-samples were 
              external laboratory     routinely checked at the laboratory 
              checks) and whether     with duplicate and sometimes triplicate 
              acceptable levels of    assays. A set of screen fire assays 
              accuracy (i.e. lack     were carried out on selected samples 
              of bias) and            from the NZ prospect due to the common 
              precision               presence of visible and coarse gold. 
              have been               Gold assays were recorded for drillholes 
              established.            only at Kakula, GM, NZ, and MK. At Macalder, 
                                      both copper and silver assays were carried 
                                      out in addition to gold using standard 
                                      AA procedures (GAR Code). Assays were 
                                      usually available within a week of delivery, 
                                      allowing regular appraisal of the drilling 
                                      program. Several drillholes required 
                                      additional core splitting to complete 
                                      assaying unsuspected mineralised intercepts. 
                                      QAQC protocols 
                                      Red Rock 
                                      Included insertion of: 
                                       *    Certified reference materials (CRM) sourced initially 
                                            from Gannet Holdings in Perth and later made use of 
                                            CRMs sourced from AMIS in Johannesburg. 
 
 
                                       *    Blank materials comprising non-certified alluvial 
                                            sand, and later on, blank material sourced from AMIS. 
 
 
                                      The CRMs and blanks were inserted at 
                                      a ratio of approximately 10 per 100 
                                      samples. 
                                      Duplicate samples comprising field duplicates 
                                      prepared on site by crushing the half 
                                      core and splitting the sample using 
                                      a 50:50 riffle splitter. Inserted at 
                                      a ratio of 1 per 20 samples. 
                                      Sample pulps were sent to Genalysis-Johannesburg 
                                      (now part of the Intertek Group) the 
                                      check laboratory. However, due to insufficient 
                                      material only 44 of the 646 samples 
                                      submitted could be assayed and results 
                                      reported. These samples were analysed 
                                      by a 50 g fire assay with an AA finish. 
                                      Overall, the quality of the results 
                                      reported by ALS for the Red Rock drilling 
                                      are considered sufficiently accurate 
                                      and precise for use in the MRE. 
 
                                      Auvista 
                                      The samples were analysed at Analabs. 
                                      Scant details were provided on the Auvista 
                                      assay results. Procedures indicate that 
                                      the following was implemented: 
                                       *    1 in 10 samples is a duplicate 
 
 
                                       *    1 in 20 samples is a triplicate 
 
 
                                       *    1 in 40 samples is a blank, alternating with a 
                                            high-grade standard. 
 
 
                                      Blanks were barren granite and high-grade 
                                      standard samples were made from a Kakula 
                                      drill sample which was crushed and thoroughly 
                                      mixed homogenised. The average grade 
                                      was approximately 1.6 g/t Au. Triplicate 
                                      samples were analysed independently 
                                      by other labs. 
                                      The review of the Auvista QAQC results 
                                      found: 
                                       *    Naming of CRMs (standards) and blanks was not always 
                                            consistent. They were named "BLANK", "STD", "STDL", 
                                            or "STDH". Two populations of standards ("STD1" and 
                                            "STD2") and a blank were identified from these 
                                            results. 
 
 
                                       *    Blank results were acceptable. 
 
 
                                       *    STD1 has an acceptable precision, STD2 has a poorer 
                                            precision. 
 
 
                                       *    Duplicates and triplicates had an acceptable 
                                            correlation, with some outliers at higher grades 
                                            indicating that the gold mineralisation was nuggety. 
 
 
                                       *    No lab check results were available. 
 
 
                                      KMC and Santa Barbara QAQC 
                                      The QAQC results from the gold assays 
                                      reported from March 2001 to January 
                                      2010. Samples were analysed at SGS and 
                                      at Humac laboratories. In summary the 
                                      following were noted: 
                                       *    Lab standards: Only a few results available, but no 
                                            issues. 
 
 
                                       *    Blanks (client and lab): No issues. 
 
 
                                       *    Field duplicates: Poor correlation, but no 
                                            significant bias. 
 
 
                                      Summary of QAQC samples per company/campaignCompany      QAQC          Count of     % Total      % Original  Count of    % Lab 
                                                   category      samples      samples      samples     lab checks  checks 
                                                   ------------  -----------  -----------  ----------  ----------  ----------- 
                                      Red Rock     Samples       10,121       85.69%       100.00% 
                                      ----------- 
                                       Duplicates                670          5.67%        6.62%       1551        13.13% 
 
                                       CRMs                      1,020        8.64%        10.08%      909         7.70% 
                                       Umpires                   44                        0.43% 
                                       ------------------------  -----------  -----------  ----------  ----------  ----------- 
                                       Total                     11,811       100.00% 
                                       ------------------------  -----------  -----------  ----------  ----------  ----------- 
                                      Auvista      Samples       14,761       91.55%       100.00% 
                                      ----------- 
                                       Duplicates                1,000        6.20%        6.77%       0           0.00% 
 
                                       Triplicates               226          1.40%        1.53%       0           0.00% 
                                       CRMs                      137          0.85%        0.93%       0           0.00% 
                                       ------------------------  -----------  -----------  ----------  ----------  ----------- 
                                       Total                     16,124       100.00% 
                                       ------------------------  -----------  -----------  ----------  ----------  ----------- 
                                      KMC and 
                                       Santa 
                                       Barbara     Samples       8,034        99.46%       100.00% 
                                      ----------- 
                                       Duplicates                26           0.32%        0.32%       0           0.00% 
 
                                       Triplicates               5            0.06%        0.06%       0           0.00% 
                                       CRMs                      13           0.16%        0.16%       44          0.54% 
                                       ------------------------  -----------  -----------  ----------  ----------  ----------- 
                                       Total                     8,078        100.00% 
                                       ------------------------  -----------  -----------  ----------  ----------  ----------- 
 
                                      Notes: 
                                       *    Samples refers to original samples for assay 
 
 
                                       *    Duplicates refers to field duplicate and lab pulp 
                                            splits respectively 
 
 
                                       *    CRMs (standards) and blanks (client and lab 
                                            respectively) 
 
 
                                       *    Umpires: Third party assays (not included in total 
                                            no. of samples) 
 
 
                                       *    % Total Samples: Percent of total samples (including 
                                            QAQC samples) submitted for each company 
 
 
                                       *    % Original samples: Percent of original samples 
                                            (excluding QAQC samples) submitted for each company 
 
 
                                       *    % Lab Checks: Percent of total samples (including 
                                            QAQC samples) submitted for each company 
------------  ---------------------  ------------------------------------------------------------------------------------------------------------------------------- 
Verification  The verification of    No independent verification sampling 
of sampling   significant             of the available historical drill core 
and assaying  intersections           or RC chips, or Red Rock drill core 
              by either independent   or RC material was done by CSA Global. 
              or alternative          As part of the verification process 
              company                 of the historical data, the following 
              personnel.              was done by Red Rock: 
              The use of twinned       *    Red Rock drilled and sampled 111 infill holes at MK, 
              holes.                        KKM, KW, NZ, and GM. The geological and assay data 
              Documentation of              collected in this exercise was compared with the 
              primary                       historical data and found it correlated well with the 
              data, data entry              historical data and thus supported their inclusion in 
              procedures,                   the MRE. The infill drilling also served to decrease 
              data verification,            the hole spacing and improve confidence in the MRE. 
              data 
              storage (physical and 
              electronic)              *    Acquisition and collation of historical exploration 
              protocols.                    data by Red Rock into a digital format. 
              Discuss any 
              adjustment 
              to assay data.           *    Review of the historical databases and sample assay 
                                            QAQC data (where available, was done). 
 
 
                                       *    Field confirmation of preserved drillhole collar 
                                            positions and resurveying with a Trimble differential 
                                            global positioning system (DGPS). Historical collars 
                                            had previously used a local grid and subsequent 
                                            transformations were unreliable. 
 
 
                                       *    Downhole survey camera shots were re-read and 
                                            evaluated on a prospect-by-prospect basis. 
 
 
                                       *    Improved density data was collected. 
 
 
                                       *    Improved metallurgical data was collected. 
 
 
                                       *    An improved digital terrain model (DTM) was generated 
                                            for the entire Migori area. 
 
 
                                       *    Where possible, historical assay data were checked 
                                            against original lab certificates, downhole graphical 
                                            logs, and digital data (stored as .csv files). 
 
 
                                      The attached report contains a thorough 
                                      review of the work done to verify the 
                                      historical data. 
                                      Where possible, the data was validated 
                                      and captured with appropriate metadata, 
                                      and all data was stored in a single 
                                      database managed by CSA Global and Red 
                                      Rock. 
------------  ---------------------  ------------------------------------------------------------------------------------------------------------------------------- 
Location      Accuracy and quality   The Red Rock drillholes were surveyed 
 of data      of surveys used to      using a Trimble Pathfinder Pro-XRS differential 
 points       locate                  DGPS receiver coupled with an L1 GPS/satellite 
              drillholes (collar      differential antenna to collect coordinates 
              and                     and provided sub-metre level accuracy. 
              downhole surveys),      Grid system used: UTM36S-ARC1960. 
              trenches,               Historical drillhole coordinates were 
              mine workings and       in a local grid and were transformed 
              other                   by Red Rock. All preserved historical 
              locations used in       collars were surveyed by Red Rock (a 
              Mineral                 total of 133 were located) and an affine 
              Resource estimation.    transformation applied. 
              Specification of the    The topographic surfaces onto which 
              grid system used.       the drillholes were draped comprised: 
              Quality and adequacy    25 m x 25 m DTM for KW and NZ, surveyed 
              of topographic          using the onsite Trimble DGPS. 
              control.                10 m x 10 m DTM was acquired for the 
                                      rest of the area during the airborne 
                                      geophysical survey in 2010 but has a 
                                      less well constrained RL than the DGPS 
                                      DTM. 
------------  ---------------------  ------------------------------------------------------------------------------------------------------------------------------- 
Data spacing  Data spacing for       Drilling was done on a semi-regular 
and           reporting               grid over each of the deposits. Drillhole 
distribution  of Exploration          intersections are spaced at between 
              Results.                35 m and 50 m along-strike (and up to 
              Whether the data        100 m in places, often around the edge 
              spacing                 of individual deposits) and 30-50 m 
              and distribution is     down-dip (in places the spacing may 
              sufficient to           be closer at +/-10-20 m). 
              establish               The infill drilling program by Red Rock 
              the degree of           comprised: Prospect    No. of   Metres drilled 
              geological                            holes 
              and grade continuity                -------  --------------- 
              appropriate for the      KKM         31       3,425.05 
              Mineral Resource and     KW          33       4,292.66 
              Ore Reserve              GM          17       1,808.03 
              estimation               MK          7        963.68 
              procedure(s) and         NZ          23       2,851.88 
              classifications         ----------  -------  --------------- 
              applied.                 Total       111      13,341 
              Whether sample          ----------  -------  --------------- 
              compositing 
              has been applied.       In summary, the drilling used for the 
                                      MRE comprised 592 drillholes: Company          No. of   % total 
                                                         holes 
                                                       -------  -------- 
                                       Auvista          394      66.6 
                                       KMC              34       5.7 
                                       Red Rock         111      18.8 
                                       Santa Barbara    52       8.8 
                                       Unifario         1        0.2 
                                      ---------------  -------  -------- 
                                       Total            592      100 
                                      ---------------  -------  -------- 
 
                                      The drillhole spacing is acceptable 
                                      to establish reasonable grade and geological 
                                      continuity. 
                                      1 m composites were used for the estimation 
                                      of gold grade. 
------------  ---------------------  ------------------------------------------------------------------------------------------------------------------------------- 
Orientation   Whether the            The drillholes (Red Rock and historical) 
of data       orientation             were drilled along lines orientated 
in relation   of sampling achieves    at an azimuth of 025deg which is orthogonal 
to            unbiased sampling of    to the northwest-southeast strike of 
geological    possible structures     the deposits. Drillholes were inclined 
structure     and the extent to       at -60deg. 
              which                   The drilling was orientated such that 
              this is known,          the mineralisation was intersected orthogonally 
              considering             so that the mineralised widths approximate 
              the deposit type.       true widths. 
              If the relationship     No material sampling bias was identified 
              between the drilling    due to sample orientation. 
              orientation and the 
              orientation of key 
              mineralised 
              structures is 
              considered 
              to have introduced a 
              sampling bias, this 
              should be assessed 
              and 
              reported if material. 
------------  ---------------------  ------------------------------------------------------------------------------------------------------------------------------- 
Sample        The measures taken to  All drill samples were prepared at Red 
 security     ensure sample           Rock's Mikei Camp which was permanently 
              security.               guarded and enclosed by a perimeter 
                                      fence. All samples, once prepared, were 
                                      then transported directly from the camp 
                                      to the laboratory in Mwanza under supervision 
                                      of a senior geologist. 
                                      ALS took responsibility for the sample 
                                      security and transport once the samples 
                                      arrived in Mwanza and all samples were 
                                      accounted for. 
------------  ---------------------  ------------------------------------------------------------------------------------------------------------------------------- 
Audits        The results of any     As part of the Mineral Resource estimation 
 or reviews   audits                  process, CSA Global undertook an extensive 
              or reviews of           review of the historical data and associated 
              sampling                protocols, the Red Rock data and protocols 
              techniques and data.    and a comparison of the various datasets 
                                      to establish the validity and suitability 
                                      of the data for inclusion into the MRE. 
------------  ---------------------  ------------------------------------------------------------------------------------------------------------------------------- 
 

Section 2: Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section)

 
Criteria        JORC Code explanation                                       Commentary 
                ----------------------------------------------------------  ----------------------------------------------------------- 
Mineral         Type, reference name/number,                                The project area comprises two prospecting 
 tenement        location and ownership                                      licences, PL/2018/0202 and PL/2018/0203 
 and land        including agreements                                        re-issued on 3 August 2020 under the 
 tenure          or material issues with                                     Mining Act 2016 ("2016 Act"). They are 
 status          third parties such as                                       valid for a period of three years from 
                 joint ventures, partnerships,                               3 August 2020 to 2 August 2023. The 
                 overriding royalties,                                       licences are held by Mid Migori Mining 
                 native title interests,                                     Company Limited (Mid Migori) and provides 
                 historical sites, wilderness                                the holder the right to prospect for 
                 or national park and                                        "Precious Metal Group of Minerals" which 
                 environmental settings.                                     includes gold ( Table 2 ). 
                 The security of the                                         The two licences were previously allocated 
                 tenure held at the time                                     as special prospecting licences (SPL122 
                 of reporting along with                                     and SPL202). 
                 any known impediments                                       Red Rock holds a 100% interest in both 
                 to obtaining a licence                                      licences through the agreements of 2015 
                 to operate in the area.                                     and 2018 with Mid Migori. 
                                                                             No information on royalties etc., native 
                                                                             title interests, historical sites and 
                                                                             wilderness or national park settings 
                                                                             were provided. 
--------------  ----------------------------------------------------------  ----------------------------------------------------------- 
Exploration     Acknowledgment and appraisal                                The MREs for the five prospects is heavily 
 done by         of exploration by other                                    reliant on historical data. Approximately 
 other parties   parties.                                                   81% of the holes used in the MRE were 
                                                                            drilled by historical operators. In 
                                                                            particular, Auvista data constitutes 
                                                                            67% of the holes in the current MRE. 
                                                                            Companies and related work completed 
                                                                            by years: 
                                                                             *    1930s - Discovery of gold in the Migori District and 
                                                                                  small-scale mining by colonial individuals and 
                                                                                  companies through to the 1950s. Macalder and Nyanza 
                                                                                  mines continued producing copper and gold to the 
                                                                                  1960s. 
 
 
                                                                             *    1940 to 1942 - RM Shackleton completed geological 
                                                                                  mapping at 1:125,000 scale which was published in 
                                                                                  1946 by the Mining and Geological Department, Kenya 
                                                                                  Colony. 
 
 
                                                                             *    1959 to 1960 - Hunting Geophysics, McPhar Geophysics 
                                                                                  Ltd (AFMAG) and Lundberg Exploration Ltd undertook 
                                                                                  airborne electromagnetic and ground geophysical 
                                                                                  surveys. 
 
 
                                                                             *    1963 - Development at Nyanza mine by the operators of 
                                                                                  Macalder mine, including pitting, trenching, ground 
                                                                                  geophysics and diamond drilling. 
 
 
                                                                             *    1966 - Mining operations ceased at Macalder due to 
                                                                                  ore depletion. 
 
 
                                                                             *    1964 to 1969 - The UN Special Fund sponsored the BGS 
                                                                                  in a program of exploration for mainly base metals 
                                                                                  but also for gold. The BGS followed up geophysical 
                                                                                  anomalies and carried out geological mapping, surface 
                                                                                  geochemistry and limited DD drilling. No significant 
                                                                                  gold or base metal prospects delineated, some 
                                                                                  anomalies were left untested and only an incomplete 
                                                                                  record of this work is available in a report on 
                                                                                  copper in Kenya by L.D. Sanders in 1964. 
 
 
                                                                             *    1977 - Terra Surveys completed an INPUT airborne 
                                                                                  electromagnetic and magnetic survey over the central 
                                                                                  part of the Migori Greenstone Belt. Hard copy contour 
                                                                                  maps and electromagnetic anomaly plans were 
                                                                                  available. Survey data have since been digitally 
                                                                                  captured by Leeds University. 
 
 
                                                                             *    1979 to 1982 - UN Funds for Natural Resource 
                                                                                  Development sponsored consultant, R. Hutchinson, to 
                                                                                  review and re-interpret RM Shackleton's work on the 
                                                                                  regional geology. A brief geological summary is 
                                                                                  available from this work. The UN also commissioned 
                                                                                  Hunting Geophysics to re-interpret all the 
                                                                                  geophysical surveys in the area. Target areas were 
                                                                                  tested with ground geophysics (pulse electromagnetic, 
                                                                                  gravity and magnetics), geochemistry, trenching and 
                                                                                  3,150 m diamond drilling. 
 
 
                                                                             *    1980 to 1986 - Unifario Ores Ltd (UOL) completed work 
                                                                                  on the Macalder tailings and NZ area. Work included 
                                                                                  trenching, bulk testing of alluvial material, limited 
                                                                                  shallow diamond drilling and estimation of Ore 
                                                                                  Reserves, but never proceeded into production. 
 
 
                                                                             *    1986 - Exploration Consultants International Ltd 
                                                                                  (ECI) (originally Unifario) contracted Michael Cotts 
                                                                                  International and Mackay and Schnellman to complete a 
                                                                                  prefeasibility study on the work completed by UOL. No 
                                                                                  reports relating to these studies were located and 
                                                                                  were not available for review, however they have been 
                                                                                  referred to by both Auvista (1988) and Tanganyika 
                                                                                  Gold Ltd (TGL) (Due Diligence, 1997). 
 
 
                                                                             *    1988 to 1994 - Migori Gold Mining Company (MGM), 
                                                                                  formerly ECI, signed a joint venture agreement with 
                                                                                  Santa Barbara (Kenya) Ltd (SBK). SBK funded 
                                                                                  approximately 5,000 m of diamond drilling in 39 holes 
                                                                                  at MK and GM. SBK engaged MSL to complete this work 
                                                                                  as well as MREs for MK. Following this, a stamp mill 
                                                                                  and cyanide recovery plant were installed in 1991. 
                                                                                  The project was hampered by numerous problems and 
                                                                                  only operated for a year. The North Queensland 
                                                                                  Company Ltd also conducted a data study on the 
                                                                                  projects in 1988 and concluded the projects were a 
                                                                                  worthy target but did not engage in any activities in 
                                                                                  Kenya. 
 
 
                                                                             *    1994 to 2002 - Auvista (a subsidiary of Panorama 
                                                                                  Resources NL) entered into a joint venture agreement 
                                                                                  with MGM to earn a 60% interest in Migori from an 
                                                                                  expenditure of US$2.2 million. Auvista spent 
                                                                                  approximately US$5 million from 1994 to 2001. Auvista 
                                                                                  completed extensive exploration soil sampling 
                                                                                  programs. Following positive soil geochemical results 
                                                                                  which focused on the KKM, GM, MK, and NZ targets, 
                                                                                  approximately 55,000 m of RC drilling was completed 
                                                                                  for over 600 holes at these lode gold prospects 
                                                                                  following which Mineral Resources were estimated in 
                                                                                  the 1990s. During this time, a regional mapping 
                                                                                  exercises was undertaken by consultant geologist, Jim 
                                                                                  Thornett over both tenements in 1996. From this 
                                                                                  exercise, four 1:25,000 scale solid and outcrop 
                                                                                  geology maps were produced covering the two licence 
                                                                                  areas. A detailed report also accompanied the maps 
                                                                                  and included a list of targets for exploration. These 
                                                                                  provided the focus for most of the work completed by 
                                                                                  Auvista from that time onwards. 
 
 
                                                                             *    1997 to 2002 - TGL completed a due diligence on these 
                                                                                  projects following which in 1998 TGL took over 
                                                                                  Panorama Resources NL and continued general 
                                                                                  exploration across the two licences. 
 
 
                                                                             *    In 2001 and 2002, TGL cited depreciation of gold 
                                                                                  prices as reason for lack of further investment at 
                                                                                  Migori. 
 
 
                                                                             *    2002 to 2009 - KMC acquired the projects from MGM in 
                                                                                  2002. Data was apparently compiled into a digital 
                                                                                  format and additional re-assaying completed. An 
                                                                                  additional +/-3,500 m of confirmatory DD holes were 
                                                                                  drilled at all prospects including some infill 
                                                                                  drilling in an attempt to tighten geological models 
                                                                                  and produce internal mineral estimates. These 
                                                                                  estimates were verified by D.A.S Hopkins of Ddraig 
                                                                                  Minerals Developments and publicly released in 2006 
                                                                                  in an NI 43-101 Technical Report. Polygonal estimates 
                                                                                  with wireframes were used to calculate volumes at 
                                                                                  each locality. 
 
 
                                                                             *    2009 to present - Red Rock entered into a joint 
                                                                                  venture, purchase and sale agreement with KMC. 
 
 
                                                                             *    2011 - Red Rock completed an infill drill program, 
                                                                                  totalling 111 holes for 13,341 m at KKM, KW, MK, GM, 
                                                                                  and NZ. 
 
 
                                                                             *    2012 - Red Rock/CSA Global report an updated MRE for 
                                                                                  the Migori prospects. 
--------------  ----------------------------------------------------------  ----------------------------------------------------------- 
Geology         Deposit type, geological                                    The Migori Belt forms a small part of 
                 setting and style of                                        the Nyanza Greenstone Belt which is 
                 mineralisation.                                             an extensive region of Archean greenstone 
                                                                             rocks within the Tanzanian Craton located 
                                                                             in northern Tanzania, western Kenya, 
                                                                             and southeast Uganda. The Nyanza Greenstone 
                                                                             Belt is divided into the Northern and 
                                                                             Southern Terrains. The Southern Terrain 
                                                                             is predominantly a volcaniclastic suite 
                                                                             (Nyanzian Group) and associated intrusives 
                                                                             while the Northern Terrain is dominated 
                                                                             by the marine metasediments of the Kavirondian 
                                                                             Group. 
                                                                             The host rocks within the tenements 
                                                                             comprise predominately intermediate 
                                                                             to felsic volcanics and associated volcaniclastics, 
                                                                             inter-bedded with subordinate basaltic 
                                                                             to andesitic lavas and siliciclastic 
                                                                             interflow sediments. Generally, the 
                                                                             igneous suite is dominated by intermediate 
                                                                             andesites and rhyolites with an abundance 
                                                                             of crystal tuffs, however Nyanza is 
                                                                             dominated by metabasalts. Intercalated 
                                                                             with these metavolcanics are metasediments 
                                                                             including greywackes and graphitic shales. 
                                                                             Banded Iron formation also occurs throughout 
                                                                             the volcano sedimentary pile and regionally 
                                                                             exploration results appear to highlight 
                                                                             these as future targets for gold exploration. 
                                                                             Two main deposit types are recognised 
                                                                             in the area: 
                                                                              *    Volcanogenic massive sulphide (VMS) ascribed to the 
                                                                                   historical Macalder Mine. 
 
 
                                                                              *    Orogenic (lode) gold prospects ascribed to the KKM, 
                                                                                   KW, GM, NZ, and MK prospects and also includes those 
                                                                                   in the Lake Victoria Greenstone Belt in northwest 
                                                                                   Tanzania (to the south of the Nynaza Belt) including 
                                                                                   North Mara (Barrick Gold), Golden Pride (Resolute) 
                                                                                   and Geita (AngloGold Ashanti). 
 
 
                                                                             Lode gold 
                                                                             The Migori belt is host to numerous 
                                                                             quartz vein hosted gold occurrences, 
                                                                             which are exploited by artisanal miners 
                                                                             (KKM, KW, GM, NZ, and MK). These lodes 
                                                                             occur as structurally controlled quartz 
                                                                             stockworks and veins within shear zones. 
                                                                             For most prospects, gold mineralisation 
                                                                             is close to surface. 
                                                                             Gold mineralisation is associated with 
                                                                             emplacement of quartz vein and porphyry 
                                                                             intrusions resulting from granitic intrusions. 
                                                                             This is associated chlorite, sericite 
                                                                             and carbonate alteration assemblages 
                                                                             along with silicification which increases 
                                                                             within the shear zone, particularly 
                                                                             along mineralised zones where quartz 
                                                                             flooding and blue-grey sulphidic quartz 
                                                                             stockworks are associated with maximum 
                                                                             gold grades. Accessory sulphide assemblages 
                                                                             often accompany mineralisation, however 
                                                                             barren assemblages also host sulphides. 
                                                                             Pyrite is the most widespread, with 
                                                                             pyrrhotite also common and minor arsenopyrite. 
                                                                             Each of the five prospects (KKM, KW, 
                                                                             MK, GM, NZ) form individual mineralised 
                                                                             domains that are located within the 
                                                                             main shear zone which has a strike length 
                                                                             of over 7.5 km northwest-southeast, 
                                                                             with KKM located roughly at its centre. 
                                                                             This shear zone forms a large magnetic 
                                                                             low of the same orientation. Between 
                                                                             KKM and GM a pervasive north-northwest 
                                                                             trending kilometre-scale transverse 
                                                                             fault (with apparent dextral movement) 
                                                                             is visible in the magnetic imagery along 
                                                                             which the Macalder VMS deposit is located. 
                                                                             Most lode gold mineralisation occurs 
                                                                             within the shear zone, in close proximity 
                                                                             to the granite-greenstone contact. The 
                                                                             lodes occur as structurally controlled 
                                                                             quartz stockworks and veins within sheared 
                                                                             zones that range between 1 m and 30 
                                                                             m in thickness. These stockwork or vein 
                                                                             systems will often have a plunge along 
                                                                             steeply dipping shear planes and are 
                                                                             generally discontinuous. Structural 
                                                                             studies completed by Olang (2012(3) 
                                                                             ) have identified two dominant fault 
                                                                             systems; a north-northwest to south-southeast 
                                                                             dextral strike slip system with a northeast-southwest 
                                                                             conjugating set. En-echelon conjugate 
                                                                             sets are common for shear zone systems 
                                                                             and could account for the high number 
                                                                             of near horizontal down hole orientated 
                                                                             structures. 
                                                                             Generally, lodes are inconsistent in 
                                                                             grade and can be discontinuous between 
                                                                             50 m sections (this is particularly 
                                                                             the case for NZ). However, majority 
                                                                             of the core mineralisation is typically 
                                                                             continuous along a central portion of 
                                                                             each prospect. Maximum grades are associated 
                                                                             with quartz vein stockworks and/or lithological 
                                                                             contacts such as between quartz-eye 
                                                                             porphyries and graphitic shales. 
--------------  ----------------------------------------------------------  ----------------------------------------------------------- 
Drillhole       A summary of all information                                Exploration results not being reported. 
 information    material to the understanding                                The relative location of the Red Rock 
                of the exploration results                                   drillholes (RC and DD) are presented 
                including a tabulation                                       Figure 21 (Section 6.1 ). 
                of the following information 
                for all Material drillholes: 
                 *    easting and northing of the drillhole collar 
 
 
                 *    elevation or RL (Reduced Level - elevation above sea 
                      level in metres) of the drillhole collar 
 
 
                 *    dip and azimuth of the hole 
 
 
                 *    down hole length and interception depth 
 
 
                 *    hole length. 
 
 
                If the exclusion of 
                this information is 
                justified on the basis 
                that the information 
                is not Material and 
                this exclusion does 
                not detract from the 
                understanding of the 
                report, the Competent 
                Person should clearly 
                explain why this is 
                the case. 
--------------  ----------------------------------------------------------  ----------------------------------------------------------- 
Data            In reporting Exploration                                    Exploration results are not being reported 
aggregation      Results, weighting averaging                                as part of this work. No data aggregation 
methods          techniques, maximum                                         has been used to report Exploration 
                 and/or minimum grade                                        Results. 
                 truncations (e.g. cutting                                   No metal equivalents have been applied. 
                 of high grades) and 
                 cut-off grades are usually 
                 Material and should 
                 be stated. 
                 Where aggregate intercepts 
                 incorporate short lengths 
                 of high-grade results 
                 and longer lengths of 
                 low-grade results, the 
                 procedure used for such 
                 aggregation should be 
                 stated and some typical 
                 examples of such aggregations 
                 should be shown in detail. 
                 The assumptions used 
                 for any reporting of 
                 metal equivalent values 
                 should be clearly stated. 
--------------  ----------------------------------------------------------  ----------------------------------------------------------- 
Relationship    These relationships                                         The drilling was orientated such that 
between          are particularly important                                  the mineralisation was intersected orthogonally 
mineralisation   in the reporting of                                         so that the mineralised widths approximate 
widths           Exploration Results.                                        true widths. 
and intercept    If the geometry of the                                      The drillholes (Red Rock and historical) 
lengths          mineralisation with                                         were drilled along lines orientated 
                 respect to the drillhole                                    at an azimuth of 025deg which is orthogonal 
                 angle is known, its                                         to the northwest-southeast strike of 
                 nature should be reported.                                  the deposits. Drillholes were inclined 
                 If it is not known and                                      at -60deg. 
                 only the downhole lengths 
                 are reported, there 
                 should be a clear statement 
                 to this effect (e.g. 
                 'downhole length, true 
                 width not known'). 
--------------  ----------------------------------------------------------  ----------------------------------------------------------- 
Diagrams        Appropriate maps and                                        Relevant figures are provided in this 
                 sections (with scales)                                      report. 
                 and tabulations of intercepts 
                 should be included for 
                 any significant discovery 
                 being reported These 
                 should include, but 
                 not be limited to a 
                 plan view of drillhole 
                 collar locations and 
                 appropriate sectional 
                 views. 
--------------  ----------------------------------------------------------  ----------------------------------------------------------- 
Balanced        Where comprehensive                                         No reporting of Exploration Results. 
 reporting       reporting of all Exploration 
                 Results is not practicable, 
                 representative reporting 
                 of both low and high 
                 grades and/or widths 
                 should be practiced 
                 to avoid misleading 
                 reporting of Exploration 
                 Results. 
--------------  ----------------------------------------------------------  ----------------------------------------------------------- 
Other           Other exploration data,                                     No other exploration data to report. 
substantive      if meaningful and material, 
exploration      should be reported including 
data             (but not limited to): 
                 geological observations; 
                 geophysical survey results; 
                 geochemical survey results; 
                 bulk samples - size 
                 and method of treatment; 
                 metallurgical test results; 
                 bulk density, groundwater, 
                 geotechnical and rock 
                 characteristics; potential 
                 deleterious or contaminating 
                 substances. 
--------------  ----------------------------------------------------------  ----------------------------------------------------------- 
Further         The nature and scale                                        Additional work proposed includes: 
 work            of planned further work                                     *    Strategic Mineral Resource definition from infill and 
                 (eg tests for lateral                                            geostatistical drilling, including areas identified 
                 extensions or depth                                              outside the RPEEE pit shell which should be drilled 
                 extensions or large-scale                                        and included into future updates of the RPEEE pit 
                 step-out drilling).                                              shells 
                 Diagrams clearly highlighting 
                 the areas of possible 
                 extensions, including                                       *    Additional twinning of historical holes in the 
                 the main geological                                              central zones of each deposit 
                 interpretations and 
                 future drilling areas, 
                 provided this information                                   *    Metallurgical testwork to better characterise the 
                 is not commercially                                              weathered and fresh domains 
                 sensitive. 
 
                                                                             *    Re-survey collar positions of all historical holes to 
                                                                                  improve reliability 
 
 
                                                                             *    Improvements to the geological logging to better 
                                                                                  define the oxide and fresh domains 
 
 
                                                                             *    Improvements on the QAQC protocols 
 
 
                                                                             *    More detailed topographical survey, this should 
                                                                                  include the surface artisanal workings 
 
 
                                                                             *    Volumetric surveys of the underground historic 
                                                                                  workings for Mineral Resource depletion 
 
 
                                                                             *    Additional bulk density sampling of all material, 
                                                                                  particularly from the oxide and transition zones 
--------------  ----------------------------------------------------------  ----------------------------------------------------------- 
 

Section 3: Estimation and Reporting of Mineral Resources

(Criteria listed in section 1, and where relevant in section 2, also apply to this section)

 
Criteria         JORC Code explanation             Commentary 
                 --------------------------------  ------------------------------------------------------------- 
Database         Measures taken to                 The integrity of the database was tested 
 integrity        ensure that data has              by means of importing the data into Micromine 
                  not been corrupted                and examining statistics and histograms 
                  by, for example, transcription    of variables. Any transcription errors 
                  or keying errors,                 entered into the digital database from 
                  between its initial               hardcopy logs or certificates, would show 
                  collection and its                up either as an importing issue into Micromine 
                  use for Mineral Resource          (identifies any overlaps or gaps in data), 
                  estimation purposes.              or in the statistics and histograms of 
                  Data validation procedures        grade values (in the form of unexpected 
                  used.                             values). 
                                                    It is evident from analysis of the QAQC 
                                                    data, that some CRMs and blanks were mislabelled. 
                                                    These were however identified. 
---------------  --------------------------------  ------------------------------------------------------------- 
Site visits      Comment on any site               A four-day site visit was completed as 
                  visits undertaken                 part of CSA Global 's initial review by 
                  by the Competent Person           Andrew Chubb (Senior Geologist, CSA Global 
                  and the outcome of                who has since left the employ of CSA Global) 
                  those visits.                     from 11 August 2009, along with Joe Crummy 
                  If no site visits                 (Consulting Geologist) and Mike Nott (Director, 
                  have been undertaken              Red Rock Resources). In September 2011, 
                  indicate why this                 a second site visit by Thomas Branch (Geologist, 
                  is the case.                      CSA Global who has since left the employ 
                                                    of CSA Global) was completed to gain an 
                                                    understanding of the drill logging and 
                                                    sampling methodologies of Red Rock's infill 
                                                    drill program. 
                                                    No site visit has been undertaken by the 
                                                    Competent Person as part of the 2021 MRE; 
                                                    however, there is no material new data 
                                                    since reporting the 2012 MRE, and the 
                                                    Competent Person is satisfied to rely 
                                                    on the previous site visits as both Andrew 
                                                    Chubb and Thomas Branch are known to CSA 
                                                    Global and were trusted employees at the 
                                                    time of the employment. 
---------------  --------------------------------  ------------------------------------------------------------- 
Geological       Confidence in (or                 Geological logging and assay data was 
 interpretation   conversely, the uncertainty       used in the interpretation of the geological 
                  of) the geological                model. Red Rock provided cross sections 
                  interpretation of                 of interpreted geology and mineralisation 
                  the mineral deposit.              to CSA Global , which formed the basis 
                  Nature of the data                of the 2D sectional interpretation undertaken 
                  used and of any assumptions       in Micromine. 
                  made.                             Red Rock geologists generated a suite 
                  The effect, if any,               of individual wireframes to model the 
                  of alternative interpretations    oxidation surfaces for each prospect. 
                  on Mineral Resource               These were created in section view, using 
                  estimation.                       strings that were snapped to drillhole 
                  The use of geology                traces. Weathering and oxidation details 
                  in guiding and controlling        for boreholes were taken from Red Rock 
                  Mineral Resource estimation.      logging data as well as a relatively well 
                  The factors affecting             organised Microsoft Excel database compiled 
                  continuity both of                by Auvista from their drillholes. These 
                  grade and geology.                two datasets were combined and formed 
                                                    the basis of Red Rock's interpretation. 
                                                    These were supplied to CSA Global and 
                                                    were used to code all blocks below the 
                                                    topography. 
                                                    CSA Global calculated potential mining 
                                                    composites in Datamine (using the COMPSE 
                                                    process). Composites had a minimum width 
                                                    of 3 m, allowing for a maximum 2 m of 
                                                    internal waste. The composites were produced 
                                                    at a range of lower cut-off grades from 
                                                    0.1 g/t Au to 2.0 g/t Au. 
                                                    A statistical review was undertaken of 
                                                    the composites produced at each lower 
                                                    cut-off grade. They were reviewed by relative 
                                                    volume, % dilution, % ore lost and ore 
                                                    grade. It was decided that the 0.25 g/t 
                                                    Au composites would best define the boundary 
                                                    between background gold and potentially 
                                                    economic gold. This was supported by a 
                                                    preliminary sectional assessment of the 
                                                    composites using Micromine. 
                                                    The 0.25 g/t Au threshold was used as 
                                                    the boundary for mineralisation, with 
                                                    the 0.5 and 1 g/t Au composites being 
                                                    used to guide the mineralised interpretation, 
                                                    so that higher grade zones were linked 
                                                    down-dip and along-strike, according to 
                                                    the current geological and mineralisation 
                                                    model prepared by Red Rock. 
                                                    Surveyed artisanal surface workings were 
                                                    used to guide the extension of mineralised 
                                                    zones at surface and along strike, where 
                                                    appropriate. 
                                                    Mineralised domains for each of the five 
                                                    deposits were extended halfway between 
                                                    drillholes at the termination of mineralisation, 
                                                    in both dip and strike planes. 
                                                    KKM consists of 17 broadly continuous 
                                                    (between 200 m and 800 m strike length) 
                                                    zones which dip steeply to the southwest. 
                                                    KW and NZ consist of steeply dipping units, 
                                                    striking southeast-northwest dipping steeply 
                                                    to the southwest. 
                                                    GM demonstrates a similar strike orientation 
                                                    but consisted of two groups of domains 
                                                    which differ in dip. One set was steeply 
                                                    dipping to the southwest, the other shallow 
                                                    dipping to the southwest. 
                                                    Domain 1 at MK was modelled from a thin 
                                                    unit of mineralised quartz porphyry. This 
                                                    unit has been highly brecciated and contains 
                                                    disseminated sulphide mineralisation. 
                                                    It is continuous along strike and down 
                                                    dip. Other domains were based upon quartz 
                                                    veining and sulphide mineralisation and 
                                                    are less continuous along-strike and down-dip. 
                                                    A reasonable amount of confidence can 
                                                    be placed in the geological interpretation. 
                                                    CSA Global is not aware of any alternative 
                                                    interpretations. 
                                                    Drilling data shows reasonable grade and 
                                                    geological continuity along strike and 
                                                    down dip. 
---------------  --------------------------------  ------------------------------------------------------------- 
Dimensions       The extent and variability        The KKM mineralisation is 2,110 m along-strike, 
                  of the Mineral Resource           270 m deep with lodes occurring across 
                  expressed as length               a 320 m wide zone, with the widest continuous 
                  (along strike or otherwise),      zone being approximately 80 m in width. 
                  plan width, and depth             The Mineral Resource reported in the RPEEE 
                  below surface to the              pit shell is 1,770 m along-strike, 190 
                  upper and lower limits            m deep and spans a 270 m wide zone. 
                  of the Mineral Resource.          The MK mineralisation is 830 m along-strike, 
                                                    120 m deep with lodes occurring across 
                                                    a 200 m wide zone, with the widest continuous 
                                                    zone being approximately 10 m in width. 
                                                    The Mineral Resource reported in the RPEEE 
                                                    pit shell is 830 m along-strike in several 
                                                    pits, 100 m deep and spans a 40 m wide 
                                                    zone. 
                                                    The KW mineralisation is 800 m along-strike, 
                                                    180 m deep with lodes occurring across 
                                                    a 450 m wide zone, with the widest continuous 
                                                    zone being approximately 15 m in width. 
                                                    The majority of the Mineral Resource reported 
                                                    in the RPEEE pit shell is 450 m along-strike 
                                                    in several pits, 100 m deep and spans 
                                                    a 60 m wide zone. 
                                                    The NZ mineralisation is 680 m along-strike, 
                                                    200 m deep with lodes occurring across 
                                                    a 210 m wide zone, with the widest continuous 
                                                    zone being approximately 20 m in width. 
                                                    The Mineral Resource reported in the RPEEE 
                                                    pit shell is 350 m along-strike, 140 m 
                                                    deep and spans a 200 m wide zone. 
                                                    The GM mineralisation is 670 m along-strike, 
                                                    210 m deep with lodes occurring across 
                                                    a 240 m wide zone, with the widest continuous 
                                                    zone being approximately 35 m in width. 
                                                    The Mineral Resource reported in the RPEEE 
                                                    pit shell is 430 m along-strike, 180 m 
                                                    deep and spans a 140 m wide zone. 
---------------  --------------------------------  ------------------------------------------------------------- 
Estimation       The nature and appropriateness    The geological modelling and estimation 
 and modelling    of the estimation                 were done in Micromine. 
 techniques       technique(s) applied              Domain wireframes created in the geological 
                  and key assumptions,              interpretation were used to code drillhole 
                  including treatment               assays. All assays that were located within 
                  of extreme grade values,          the domain wireframes were assigned the 
                  domaining, interpolation          appropriate domain code. Data outside 
                  parameters and maximum            the domain wireframes were removed from 
                  distance of extrapolation         the dataset for the purposes of grade 
                  from data points.                 estimation. 
                  If a computer assisted            Data was separated into the five prospects 
                  estimation method                 and the classical statistics for each 
                  was chosen include                prospect were reviewed. All prospects 
                  a description of computer         demonstrated log normal populations for 
                  software and parameters           gold. KKM, KW and GM were comprised of 
                  used.                             a low-grade population (representing an 
                  The availability of               acceptable amount of internal waste), 
                  check estimates, previous         a medium-grade population (representing 
                  estimates and/or mine             the main mineralisation) and a small higher-grade 
                  production records                population. NZ and MK had similar low 
                  and whether the Mineral           and medium-grade populations, but had 
                  Resource estimate                 larger high-grade populations, which had 
                  takes appropriate                 been honoured in specific domains. 
                  account of such data.             Prior to undertaking the grade estimation, 
                  The assumptions made              all grade data was composited to a uniform 
                  regarding recovery                interval length. This was done to prevent 
                  of by-products.                   potential grade bias in the estimations, 
                  Estimation of deleterious         from very long or short intervals. The 
                  elements or other                 selected composite interval was 1 m, being 
                  non-grade variables               the most common sample length for each 
                  of economic significance          prospect. Composites were defined downhole, 
                  (e.g. sulphur for                 with domain boundaries used as a constraint. 
                  acid mine drainage                Mean grades of composited and raw data 
                  characterisation).                were compared, no evidence of grade bias 
                  In the case of block              was observed due to compositing in KKM, 
                  model interpolation,              KW, NZ, and GM. 
                  the block size in                 A review of composited data histograms 
                  relation to the average           for each domain suggested that the composite 
                  sample spacing and                grade populations were positively skewed 
                  the search employed.              and showed a broad range of gold grades, 
                  Any assumptions behind            including some extreme high-grade values 
                  modelling of selective            (outliers). The requirement to top cut 
                  mining units.                     was informed by considering the coefficient 
                  Any assumptions about             of variation (COV) of gold at each prospect. 
                  correlation between               All prospects had a COV greater than 1 
                  variables.                        (i.e a large spread of grades). Top cuts 
                  Description of how                were selected following a review of the 
                  the geological interpretation     gold histogram tail disintegration. A 
                  was used to control               review and consideration of the percentage 
                  the resource estimates.           of metal cut, percentage of data cut and 
                                                    the resulting mean grade, ensured that 
                  Discussion of basis               the top cut applied was not overly severe. 
                  for using or not using            Data from the prospects, with the exception 
                  grade cutting or capping.         of MK were top cut. KW, GM, and NZ had 
                  The process of validation,        top cuts applied to all domain data. KKM 
                  the checking process              had a different top cut applied to Domain 
                  used, the comparison              11, as it contained a higher grade population 
                  of model data to drillhole        relative to other domains. No top cut 
                  data, and use of reconciliation   was applied to MK prospect, due to the 
                  data if available.                effect of compositing on the dataset. 
                                                    This essentially reduced the influence 
                                                    of high-grade outliers prior to any compositing 
                                                    step that would have been undertaken. 
                                                    Separate block models were constructed 
                                                    for each prospect using 25 m x 10 m x 
                                                    10 m (E x N x RL) blocks. The parent block 
                                                    size was chosen to honour current data 
                                                    spacing and to be a multiple of potential 
                                                    selective mining unit (SMU) size. Sub 
                                                    cells were used to honour mineralisation 
                                                    wireframe boundaries, although estimation 
                                                    was into the larger parent cells. 
                                                    Variography was undertaken for each prospect. 
                                                    Upon completion of domain variography, 
                                                    the resulting variogram models were cross 
                                                    validated to assess their reliability. 
                                                    This validation step was performed in 
                                                    Micromine. 
                                                    No assaying of deleterious elements was 
                                                    done; therefore, it is not possible to 
                                                    estimate these. Some amount of sulphide 
                                                    should be expected, and acid mine drainage 
                                                    studies should be undertaken as part of 
                                                    future work. 
                                                    Validation of each estimate was undertaken 
                                                    to ensure that the grade and tonnage estimates 
                                                    adequately honour the input data, and 
                                                    that no significant or material bias in 
                                                    grade or tonnage is introduced as a result 
                                                    of the estimation process. 
                                                    The following validations were undertaken 
                                                    for each prospect: 
                                                     *    Global - A comparison of global input gold mean grade 
                                                          vs global output gold mean grade, for each prospect. 
                                                          On the whole output block model mean grades honoured 
                                                          the average input mean grades. 
 
 
                                                     *    Local - A review of mean input grade and mean output 
                                                          grade was undertaken on a domain-by-domain basis, for 
                                                          each prospect. Smaller domains, where resource 
                                                          volumes are relatively poorly informed by sample data, 
                                                          exhibit less correlation than those that are better 
                                                          informed. The main, more continuous domains, which 
                                                          account for majority of the volume, have block model 
                                                          grades that honour the input grades used in 
                                                          estimation. 
 
 
                                                     *    Sectional review - Block models for all areas were 
                                                          reviewed in 2D sections, so that block grade and 
                                                          composite grade could be compared visually to ensure 
                                                          that spatially, high-grade blocks correlate with 
                                                          high-grade composite data, and vice versa. 
 
 
                                                     *    Swath plots - Swath plots were prepared for each 
                                                          prospect. Composite data and block data were 
                                                          displayed graphically by eastings, northings and RL 
                                                          slices and compared. The block model grade 
                                                          distribution honoured the distribution of input 
                                                          composite grades throughout each model, with the 
                                                          acceptance of some grade smoothing which was expected 
                                                          when interpolating grade into blocks from discrete 
                                                          samples. 
---------------  --------------------------------  ------------------------------------------------------------- 
Moisture         Whether the tonnages              Tonnages were estimated dry and dry bulk 
                  are estimated on a                density was used for the estimation of 
                  dry basis or with                 tonnages. No information on moisture content 
                  natural moisture,                 was available. 
                  and the method of 
                  determination of the 
                  moisture content. 
---------------  --------------------------------  ------------------------------------------------------------- 
Cut-off          The basis of the adopted          A 0.5 g/t Au cut-off was applied for the 
 parameters       cut-off grade(s) or               reporting of Mineral Resources. The cut-off 
                  quality parameters                is in line with other similar, shallow 
                  applied.                          gold deposits. 
---------------  --------------------------------  ------------------------------------------------------------- 
Mining           Assumptions made regarding        The expected method of extraction would 
 factors          possible mining methods,          be by open pit mining. To demonstrate 
 or assumptions   minimum mining dimensions         reasonable prospects for eventual economic 
                  and internal (or,                 extraction, conceptual pit shells were 
                  if applicable, external)          generated in Whittle software using the 
                  mining dilution. It               following parameters: 
                  is always necessary                *    Mining cost: US$3/t 
                  as part of the process 
                  of determining reasonable 
                  prospects for eventual             *    Processing cost: US$22/t ore 
                  economic extraction 
                  to consider potential 
                  mining methods, but                *    Pit slope angle: 52deg 
                  the assumptions made 
                  regarding mining methods 
                  and parameters when                *    Recovery: 90% 
                  estimating Mineral 
                  Resources may not 
                  always be rigorous.                *    Royalty: 7%. 
                  Where this is the 
                  case, this should 
                  be reported with an               Mineral Resources were reported for mineralisation 
                  explanation of the                within these pit shells for each prospect. 
                  basis of the mining 
                  assumptions made. 
---------------  --------------------------------  ------------------------------------------------------------- 
Metallurgical    The basis for assumptions         Red Rock undertook metallurgical test 
 factors          or predictions regarding          work for all prospects at the Migori Project 
 or assumptions   metallurgical amenability.        during 2012. Samples were sent to Wardell 
                  It is always necessary            Armstrong Mineral Processing Laboratories 
                  as part of the process            (Wardell), based in Cornwall in the UK. 
                  of determining reasonable         The results from all samples tested from 
                  prospects for eventual            NZ, KKM and KKM west, indicate a positive 
                  economic extraction               response to gold recovery by cyanide leaching, 
                  to consider potential             with further work is required to establish 
                  metallurgical methods,            the variable recovery trend evident in 
                  but the assumptions               the variability drill-core samples. 
                  regarding metallurgical           The test work results on the MK samples 
                  treatment processes               clearly demonstrate that the mineralisation 
                  and parameters made               is amenable to gold recovery by a modest 
                  when reporting Mineral            grind size followed by a cyanide leach 
                  Resources may not                 in a mild strength cyanide solution at 
                  always be rigorous.               low lime consumption. 
                  Where this is the                 The results from of the samples tested 
                  case, this should                 from GM suggest a positive response to 
                  be reported with an               gold recovery by cyanide leaching for 
                  explanation of the                the oxide material, but low recoveries 
                  basis of the metallurgical        from the fresh material. The low recoveries 
                  assumptions made.                 from the fresh material requires additional 
                                                    test work to establish the reason for 
                                                    this and a possible process treatment 
                                                    route for additional recovery. 
                                                    It appears most of the gold lost to tailings 
                                                    is associated with sulphide mineralisation. 
                                                    The sulphide content of each prospect, 
                                                    and the ratio of gold to sulphur in the 
                                                    individual samples should be evaluated 
                                                    in the next phase of work. 
                                                    The grind testwork appears to show that 
                                                    the high-grade composites were much harder 
                                                    and required more power input than the 
                                                    low-grade samples. This is contrary to 
                                                    expectations and will be reviewed during 
                                                    the next phase of test work. Usually, 
                                                    oxide samples show a lower power input 
                                                    than for fresh material. 
                                                    As testwork was only conducted on a single 
                                                    composite of each style of mineralisation 
                                                    for each deposit, the results should be 
                                                    considered indicative that the material 
                                                    is amenable to processing using conventional 
                                                    extraction methods. More testwork is required 
                                                    established a detailed processing flowsheet. 
---------------  --------------------------------  ------------------------------------------------------------- 
Environmental    Assumptions made regarding        No environmental factors or assumptions 
 factors          possible waste and                were considered for the MRE. 
 or assumptions   process residue disposal 
                  options. It is always 
                  necessary as part 
                  of the process of 
                  determining RPEEE 
                  to consider the potential 
                  environmental impacts 
                  of the mining and 
                  processing operation. 
                  While at this stage 
                  the determination 
                  of potential environmental 
                  impacts, particularly 
                  for a greenfields 
                  project, may not always 
                  be well advanced, 
                  the status of early 
                  consideration of these 
                  potential environmental 
                  impacts should be 
                  reported. Where these 
                  aspects have not been 
                  considered this should 
                  be reported with an 
                  explanation of the 
                  environmental assumptions 
                  made. 
---------------  --------------------------------  ------------------------------------------------------------- 
Bulk density     Whether assumed or                Density determinations were done across 
                  determined. If assumed,           the project using the Archimedes method 
                  the basis for the                 on drill core samples for oxide, transitional 
                  assumptions. If determined,       and fresh material. 
                  the method used, whether          Density data available by oxidation state 
                  wet or dry, the frequency         and prospect: Material type    KW    GM   MK    NZ 
                  of the measurements,                               ----  ---  ----  ---- 
                  the nature, size and               Oxide            22    9    3     9 
                  representativeness                ---------------  ----  ---  ----  ---- 
                  of the samples.                    Transitional     37    19   5     34 
                  The bulk density for              ---------------  ----  ---  ----  ---- 
                  bulk material must                 Fresh            160   64   116   146 
                  have been measured                ---------------  ----  ---  ----  ---- 
                  by methods that adequately 
                  account for void spaces           The bulk density results were separated 
                  (vugs, porosity, etc.),           into prospect and material type. Mean 
                  moisture and differences          density values for each group were reviewed; 
                  between rock and alteration       the following observations were made: 
                  zones within the deposit.         Data populations for oxide and transitional 
                  Discuss assumptions               material were low, resulting in lower 
                  for bulk density estimates        confidence in the densities of these materials. 
                  used in the evaluation             *    Oxide material had a lower density than transitional 
                  process of the different                and fresh material. 
                  materials. 
 
                                                     *    Transitional material had a density that was similar 
                                                          to the fresh material. 
 
 
                                                    KW, MK, and GM material had very similar 
                                                    density distributions and mean density 
                                                    values for fresh material, KW and GM had 
                                                    similar densities for all material types. 
                                                    Due to the small data populations available 
                                                    at MK for oxide and transitional material, 
                                                    and the similarities in the density of 
                                                    fresh material, the values for oxide and 
                                                    transitional material for KW and GM were 
                                                    applied to MK. 
                                                    NZ had a different density distribution 
                                                    and slightly higher mean density, which 
                                                    has been attributed to the increased presence 
                                                    of basalt in the stratigraphic package. 
                                                    Further bulk density testing is required 
                                                    to increase understanding of the bulk 
                                                    density variability between oxidations 
                                                    states, geological units, and mineralisation 
                                                    styles. 
                                                    Bulk density is expressed as dry density. 
                                                    The density values are deemed reasonable 
                                                    for the type of material under consideration. 
                                                    Bulk density values as assigned to the 
                                                    block models: Material        KW, GM and   NZ     KKM 
                                                      type            MK 
                                                                    -----------  -----  ----- 
                                                     Oxide           2.40         2.40   2.50 
                                                    --------------  -----------  -----  ----- 
                                                     Transitional    2.75         2.90   2.72 
                                                    --------------  -----------  -----  ----- 
                                                     Fresh           2.75         2.90   2.72 
                                                    --------------  -----------  -----  ----- 
---------------  --------------------------------  ------------------------------------------------------------- 
Classification   The basis for the                 Classification was reviewed on a prospect-by-prospect 
                  classification of                 basis, taking the following points into 
                  the Mineral Resources             consideration: 
                  into varying confidence            *    Data quality 
                  categories. 
                  Whether appropriate 
                  account has been taken             *    Data spacing 
                  of all relevant factors 
                  (i.e. relative confidence 
                  in tonnage/grade estimations,      *    The geological model 
                  reliability of input 
                  data, confidence in 
                  continuity of geology              *    The continuity of mineralised domains, along-strike 
                  and metal values,                       and down-dip 
                  quality, quantity 
                  and distribution of 
                  the data).                         *    The confidence in the grade estimate through 
                  Whether the result                      consideration of kriging variance, (informed by the 
                  appropriately reflects                  number of holes and samples used to estimate blocks) 
                  the Competent Person's                  and the distances between data points and block 
                  view of the deposit.                    centroid locations used to estimate grade for each 
                                                          block. 
 
 
                                                    These considerations are all informed 
                                                    by the search pass (run) from which blocks 
                                                    were estimated. The lower the run, the 
                                                    better supported the estimated grade. 
                                                    The validation of the estimates by means 
                                                    of comparing statistics, visual comparison 
                                                    of composite grades vs block grades and 
                                                    swath plots also inform the confidence 
                                                    in the estimate. 
                                                    The classification reflects the Competent 
                                                    Person's view of the deposit. 
---------------  --------------------------------  ------------------------------------------------------------- 
Audits           The results of any                CSA Global reviewed the data supplied 
 or reviews       audits or reviews                 by Red Rock which was used for the MRE. 
                  of Mineral Resource               The Competent Person reviewed the 2012 
                  estimates.                        Mineral Resources which were used as the 
                                                    basis for the 2021 Mineral Resource. 
---------------  --------------------------------  ------------------------------------------------------------- 
Discussion       Where appropriate                 The estimated block model was classified 
 of relative      a statement of the                to reflect the confidence in the Mineral 
 accuracy/        relative accuracy                 Resource. Areas classified as Indicated 
 confidence       and confidence level              have a reasonable level of confidence 
                  in the MRE using an               with regards to local estimates. Areas 
                  approach or procedure             classified as Inferred are considered 
                  deemed appropriate                global estimates. 
                  by the Competent Person. 
                  For example, the application 
                  of statistical or 
                  geostatistical procedures 
                  to quantify the relative 
                  accuracy of the resource 
                  within stated confidence 
                  limits, or, if such 
                  an approach is not 
                  deemed appropriate, 
                  a qualitative discussion 
                  of the factors that 
                  could affect the relative 
                  accuracy and confidence 
                  of the estimate. 
                  The statement should 
                  specify whether it 
                  relates to global 
                  or local estimates, 
                  and, if local, state 
                  the relevant tonnages, 
                  which should be relevant 
                  to technical and economic 
                  evaluation. Documentation 
                  should include assumptions 
                  made and the procedures 
                  used. 
                  These statements of 
                  relative accuracy 
                  and confidence of 
                  the estimate should 
                  be compared with production 
                  data, where available. 
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February 23, 2021 08:03 ET (13:03 GMT)

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