Presentation will focus on priority project: Sian, Ghana


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Certain statements contained in the following presentation constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from actual results and achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made and the readers are also advised to consider such forward looking statements while considering the risks inherent in the business of exploration.

  • Certain statements contained in the following presentation constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from actual results and achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made and the readers are also advised to consider such forward looking statements while considering the risks inherent in the business of exploration.









Presentation will focus on priority project: Sian, Ghana

  • Presentation will focus on priority project: Sian, Ghana

  • Most advanced, early term ROI

  • Sian: past gold producer with a 93% gold recovery rate

  • Just 30 km north of Newmont Mining’s 8.7+ million oz Akyem gold deposit on the Ashanti Gold Belt

  • Infrastructure, power, roads, water, and CIL (Carbon in Leach) plant

  • 30 year renewable mining lease with 17 years remaining

  • Sian resource has the potential to reach over 1 million oz in the next 12 months

























What we need to do concurrently:

  • What we need to do concurrently:

  • Prove up a minimum of 1 million oz of gold on direct extensions of the Sian gold deposit and drill test new zones to:

    • Increase indicated resource (infill drilling and drilling at depth)
    • Upgrade to a measured category (definition drilling)
    • Complete a scoping study and update the feasibility study (bankable)
  • Engineering review of CIL plant to determine costs of re-commissioning (bankable report)

  • Airborne VTEM survey over Sian to accelerate drilling



Targets and objectives

  • Targets and objectives

  • Expected initial production: 12 months away

    • Initially 2,000 tonnes / day x 300 days = 600,000 tonnes per year
    • 93% gold recovery rate
    • 600,000 tonnes at 2.3 g/t = 44,516 oz of gold in year 1
  • Expected revenues

    • Assume gold at $850 USD per oz
    • Gross revenue at $850 per oz = $38 million USD
    • Production cost at $350 per oz = $16 million USD
  • Revenue net of costs per oz – year 1

    • $22 million USD


Midlands team: best in geology, best in operations

  • Midlands team: best in geology, best in operations

    • – We know Africa well
  • Midlands is partnered with a strong engineering company to move the Sian project forward

  • Engineering partner knows Africa well and has

    • Operational experience
    • Project management experience
    • Technical and engineering expertise
    • Knowledge of Ghana
    • Track record in bringing properties to production


Up to $5 million USD required in the next 12 months

  • Up to $5 million USD required in the next 12 months

  • To achieve the following:

    • At least 1 million oz
    • A scoping study and a bankable updated feasibility study
    • A bankable technical report on the existing CIL plant
    • A VTEM air magnetic and radiometric survey to accelerate further drilling to grow the resource
    • Take Sian to a production decision


$3 million – up to 20,000 metres of drilling

  • $3 million – up to 20,000 metres of drilling

    • Definition drilling: 10,000 metres
    • Infill drilling: 5,000 metres
    • Engineering and condemnation drilling: 3,000 metres
    • Contingency: 2,000 metres
  • $500,000 – engineering metallurgical testing

  • $250,000 – scoping study and update of feasibility study

  • $250,000 – airborne VTEM and radiometric survey

  • $200,000 – resource/reserve calculation and update

  • $800,000 – working capital












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