Resolute Mining Limited announced the Global Mineral Resource Estimate (MRE) for Syama North has increased to 37.9 million tonnes, at an unchanged grade of 2.9g/t, for 3.53 million ounces of gold representing an increase of 11%. Preliminary metallurgical test-work on samples from Syama North show similar characteristics to the ore processed at the original Syama open pit and will be treated through the existing oxide and sulphide circuits. A Syama North Ore Reserve update will be completed in September/October which will further optimise the mine plan at Syama.

The deposit remains open down-dip over the entire 6km strike length with 'step-out' drilling resuming in the second half of 2023 with further increases in the Global Mineral Resource expected. Drilling from the Quartz Vein Hill area continued to return high grade intersections which would be sufficient tenor for underground mining following the initial open pit operation. Syama North is key to underpinning the 250,000 ounces per annum Phase I Expansion at Syama with high-grade open pit ore.

Syama is a world class asset with a Total M&I Resource, now standing at 9.1 million ounces2 which believe can support an operation even larger than the Phase I Expansion currently going ahead. Syama North Drilling Program Since the Syama North Mineral Resource update ASX announcement on 19 January this year, diamond and RC drilling has continued throughout the first half of 2023 with two drill rigs concentrating on converting the large proportion of Inferred Resources to the Indicated category. The January 2023 MRE contained 1.3 million ounces of Inferred Resources which require upgrading prior to be included into Ore Reserve calculations.

As part of the drilling program additional deeper diamond drillholes were also completed to extend the three north plunging mineralised shoots. Drillholes completed this year. Mineral Resources were classified in accordance with the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC, 2012).

Exploration for oxide Mineral Resources continues in parallel with the sulphide exploration program with recent success identifying new prospects on the Finkolo Exploitation Permit.