Miyabi Gold Project

MIYABI PROJECT, TANZANIA (RIFT VALLEY 100%)

The Miyabi Gold Project is located approximately 200 kilometres southwest of the city of Mwanza in the

Lake Victoria Goldfields of western Tanzania. The Project currently has a JORC Code compliant resource

of 704,000 ounces of gold with excellent potential to expand this resource through further

exploration.

The Miyabi property comprises a single coherent block of Prospecting Licences totalling 395 square kilometres in area that covers the bulk of the Miyabi greenstone belt.

Miyabi Regional Geological Setting

The Miyabi greenstone belt is a 26 kilometre long by 5 to 12 kilometre wide area of soil and laterite

covered greenstone metasediments surrounded by granitoid rocks. Structurally, the belt is considered

to represent a hinge zone between the Siga Hills and Nzega greenstone belts, potentially a very

significant structure for hosting gold mineralisation. Both these greenstone belts contain multi-million

ounce gold deposits with Resolute’s Golden Pride deposit (2.7 million ounces) in the Nzega belt to the

east and Barrack’s Golden Ridge deposit (2.2 million ounces) and Resolute’s Nykafuru deposit in the Siga

Hills belt to the northeast.

Miyabi Gold Mineralisation

Outcrop in the Miyabi greenstone belt is very poor with widespread soil cover which probably accounts

for the lack of historic gold discoveries. Prior to 2000, no drilling appears to have been undertaken in the

belt. However, the laterite duricrust and associated relatively shallow and mostly residual soil cover

present an ideal medium for geochemical sampling. Nearly all of the gold deposits and gold prospects

discovered/delineated to date at Miyabi are located in the northwest portion of the greenstone belt.

They are associated with gold-in-soil anomalies that occur within a major northeast to southwest

trending 7.7 kilometres long by 800 to 1,000 metres wide corridor that has been named the Miyabi

Structural Corridor (MSC). Gold mineralisation occurs within a series of steeply dipping shear zones

which form an en echelon pattern within the MSC. Individual gold zones are typically 400 to 650 metres

long and from 5 to to 60 metres in width.

The gold mineralisation is hosted by sheared, silicified and sulphide bearing mafic schists of probable

meta-sedimentary origin. The auriferous shear zones are typically weathered to depths of 40 to 60

metres but mineralisation extends almost to surface with only a thin veneer of soil cover.