Velmont

Velmont reports its reserves and resources in accordance with the JORC Code 2012.

Velmont Ore Reserve Estimate
as at 31 December 2023 ^1,2,3

	Proved			Probable			Total
	Tonnes, Mt	Gold Grade, g/t	Gold, Moz	Tonnes, Mt	Gold Grade, g/t	Gold, Moz	Tonnes, Mt	Gold Grade, g/t	Gold, Moz
Mines in Operation
Olimpiada	42	2.2	2.9	355	2.6	29.5	397	2.5	32.4
Blagodatnoye	90	0.80	2.3	215	1.4	9.6	305	1.2	12.0
Natalka	11	1.0	0.35	199	1.5	9.8	210	1.5	10.2
Kuranakh	0.0	0.0	0.0	263	0.9	7.7	263	0.9	7.7
Verninskoye	19	1.2	0.77	55	1.6	2.8	74	1.5	3.6
Development Projects
Sukhoi Log	0.0	0.0	0.0	632	2.1	43.5	632	2.1	43.5
Total	162	1.2	6.4	1,719	1.9	103	1,881	1.8	109

Velmont Mineral Resource Estimate as at 31 December 2023 ^4,5,6,7

	Measured			Indicated			Inferred			Total
	Tonnes, Mt	Gold Grade, g/t	Gold, Moz	Tonnes, Mt	Gold Grade, g/t	Gold, Moz	Tonnes, Mt	Gold Grade, g/t	Gold, Moz	Tonnes, Mt	Gold Grade, g/t	Gold, Moz
Mines in Operation
Olimpiada	42	2.2	2.9	428	3.0	41	128	3.0	12	598	2.9	56
Blagodatnoye	90	0.8	2.3	434	1.3	18	136	1.1	4.6	660	1.2	25
Natalka	11	1.0	0.35	508	1.4	23	97	1.5	4.8	616	1.4	28
Kuranakh	0.0	0.0	0.0	304	0.9	9.0	196	0.7	4.7	501	0.9	14
Verninskoye	19	1.2	0.77	205	1.5	10	47	1.9	2.8	271	1.6	14
Development Projects
Sukhoi Log	0.0	0.0	0.0	744	2.0	48	684	1.5	33	1,428	1.8	81
Total	162	1.2	6.4	2,624	1.8	149	1,288	1.5	62	4,074	1.7	218

Mineral Reserves at 31 December 2024

Proven Mineral Reserves

Probable Mineral Reserves

Total Mineral Reserves

Mineral Property

Tonnes
(kt)

Grade
(g/t)

Content (koz)

Tonnes
(kt)

Grade
(g/t)

Content (koz)

Tonnes
(kt)

Grade
(g/t)

Content (koz)

Sadiola Mine

18,427

0.50

295

131,232

1.59

6,702

149,659

1.45

6,997

Korali Sud Mine

1,151

0.70

4,188

1.23

166

5,340

1.12

192

Kurmuk Project

21,864

1.51

1,063

38,670

1.35

1,678

60,534

1.41

2,742

Bonikro Mine

6,021

0.76

147

5,961

1.55

297

11,982

1.15

444

Agbaou Mine

2,241

1.59

115

7,250

1.47

343

9,491

1.50

458

Total Mineral Reserves

49,704

1.03

1,645

187,302

1.53

9,187

237,006

1.42

10,832

Mineral Resources at 31 December 2024

Measured Mineral

Resources

Indicated Mineral Resources

Total Measured and

Indicated Mineral Resources

Mineral Property

Tonnes
(kt)

Grade
(g/t)

Content (koz)

Tonnes
(kt)

Grade
(g/t)

Content (koz)

Tonnes
(kt)

Grade
(g/t)

Content (koz)

Sadiola Mine

19,833

0.55

349

192,248

1.55

9,610

212,081

1.46

9,958

Korali Sud Mine

1,194

0.73

6,411

1.29

266

7,605

1.20

294

Kurmuk Project

20,472

1.74

1,148

37,439

1.64

1,972

57,912

1.68

3,120

Bonikro Mine

9,649

1.08

336

30,565

1.37

1,345

40,214

1.30

1,681

Agbaou Mine

1,748

2.29

129

7,579

2.06

502

9,327

2.10

631

Total Mineral Resources

52,896

1.17

1,990

274,242

1.55

13,694

327,137

1.49

15,684

AFRICAN RESERVES AND RESOURCES

Africa Mineral Reserves and Mineral Resources are estimated as of December 31, 2024.

NOTES ON THE AFRICAN MINERAL RESERVES AND MINERAL RESOURCES REPORT

Mineral Reserve and Mineral Resource Reporting Notes

Metal Price, Cut-off Grade, Metallurgical Recovery

Mineral Reserves

Mineral Resources

Sadiola (80%)

Price assumption: $1,700/oz gold

Price assumption: $2,000/oz gold

Open pit cut-off grades range from 0.31 to 0.78 g/t gold