Blox : Other Items (Form 8-K)

Other Items

Blox is happy to announce that the documents pertaining to the matter between Blox and the Ministry of Minerals and Geology (MMG) have been lodged in the Supreme Court in Guinea. We are awaiting news from the court as to the date the matter will be heard.

The Supreme Court has already identified and agreed some procedural anomalies in the issuing of the license to Penta Goldfields Company SA (Penta), and has suspended Penta's license.

As the Blox case is based on the same procedural anomalies, we anticipate a favorable outcome in this matter.

Below is a chronology of the relevant events so far.

On 29 Jan 2020 License cancelled by MMG

On 4 Feb 2020 Mr Kaba (Kaba) - In-country manager for Blox and Mansounia - applied to MMG for the Mansounia Concession in the name of his company Penta, without any discussion with Blox's Board of Directors. Kaba's letter to MMG states that discussions with another investor are well advanced.

On 17 Feb 2020 Kaba advises Blox that he has received notice that the Mansounia license has been cancelled.

On 27 Mar 2020 Equus (formerly Caspian Oil and Gas and the Trustee holder of the license for Blox) wrote a letter to the Minister of Minerals and Geology advising him that it was appealing the cancellation of the Caspian Oil and Gas permit.

On 6 Apr 2020 MMG issued an Exploration license to Penta.

On 27 Jul 2020 Equus sought an Injunction against Penta in the Supreme court to cease any activity with the Penta license until the matter against MMG has been heard. Citing some procedural anomalies with the issuing of the license to Penta, the court upheld the application and ruled that Kaba's/Penta's license be suspended pending the outcome of the matter against MMG.

The matter between Equus and MMG was set for October 2020, however, Equus chose to disagree about being the primary Plaintiff in the matter, and as a result it was delayed further.

For and on behalf of the Board

Tony Pickett

Chairman

[e-mail].

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