450,000 Oz at 2.9 g/t Au Maiden Gold Resource on the Didievi Project, Cote d’Ivoire

African Gold Ltd (African Gold or the Company) (ASX: A1G) is pleased to present the maiden Mineral Resource Estimate (JORC 2012) on the Didievi Project, Cote d’Ivoire. The Resource is based on the results of drilling completed by African Gold and previous owners of the Project and was prepared by Massa Geoservices.

HIGHLIGHTS

• Shallow, high grade, maiden gold resource on the Blaffo Guetto Prospect at the Didievi Project
• Inferred: 4.93Mt for 452koz of gold at 2.9 g/t (1.0 g/t Au cut off)
• Maiden Inferred Resource is only on the Blaffo Guetto Prospect on the Didievi Project and there are numerous other artisanal gold and geochemical prospects on the Project
• Shallow resource area potentially suitable for an open pit mine
• 2,000m diamond drilling program to commence in August 2024 designed to increase the scale of the resource
• Exceptional drilling results from Blaffo Guetto include:
  • 10.0m at 123.0g/t gold from 66m including 2.0m at 613.0g/t gold (DRC334);
  • 17.4m at 17.0g/t gold from 244m including 1.0m at 216.0g/t gold (DDD0029) (ends in mineralisation);
  • 83.3m at 3.3g/t gold from 166.9m including 18.0m at 12.0g/t gold (DDD01) (ends in mineralisation);
  • 80.0m at 3.0g/t gold from 0m including 23.0m at 9.5g/t gold (DDD013);
  • 37.0m at 7.7g/t gold from 42m including 24.0m at 11.0g/t gold (DRC208) (ends in mineralisation);
  • 27.0m at 4.6g/t gold from 46m including 11.0m at 11.1g/t gold (DRC337) (ends in mineralisation); and
  • A broad mineralised halo extending from surface of 231.0m at 1.0g/t gold (DDD044) which included:
    • 38.0m at 4.1g/t gold from 165m which is within
    • 79.0m at 2.2g/t gold from 152m
• Previously announced Exploration Target* on the Blaffo Guetto and Pranoi Prospects of 6.8Mt – 15Mt at a grade of 2.7g/t Au – 3.0 g/t Au for an Exploration Target 596,000 Oz – 1,450,0000 Oz of gold.

Table 1: Didievi Project Maiden Mineral Resource at 1.0 g/t Au cut-off grade

As a result of the successful rights issue in May 2024 raising approximately $1.29m (before costs), the Company engaged Massa Geoservices to design a drilling program on the Blaffo Guetto Prospect aimed at estimating a maiden resource for the Project. In conducting a detailed review of the Company’s database in order to design the drilling program, Massa Geoservices determined that there had been sufficient prior drilling completed to estimate a maiden inferred resource.

The Company is pleased to advise that the Blaffo Guetto Prospect hosts a maiden inferred resource of 452koz of gold at 2.9 g/t (1.0 g/t Au cut-off).

The maiden inferred resource is an initial resource on the Didievi Project. African is commencing a 2,030m diamond drilling campaign on the Blaffo Guetto prospect in August 2024. The program is designed to infill areas not previously drilled on the Project and to increase the resources to achieve a result within the upper range of the previously announced Didievi Project Exploration Target which includes the Blaffo Guetto and Pranoi prospects.

Notably, the area included within the resource envelope is only at the Blaffo Guetto Prospect on the Didievi Project (see Figure 1). The resource envelope is shallow, 250m – 300m maximum depth, and is regarded as potentially suitable for a future open pit mining operation. The Didievi Project has numerous other high prospects including the Kouassi Prospect, which includes previously released intercepts of 13m at 4.03 g/t Au and 3m at 3.53 g/t Au, and the 11km long Poku Trend which includes a high grade 900m long zone grading 0.15 ppm+ gold.

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