Roxgold Drills 38.3 g/t Au Over 12m, 28.3 g/t Au Over 16m in Koula Deposit as Séguéla Advances Toward Goal of Initial Production Next Year - Seite 2

“While the infill program for Koula has been completed, our drills are still turning, as we look to test the extension potential of Koula along strike and at depth; as well as returning to Ancien to resume the extension testing program which was deferred upon the discovery of Koula. Additionally, our scout drill program has resumed as we have over 28 named targets across the Séguéla project and continue to identify further targets with boots on the ground. Séguéla has already become a cornerstone asset for Roxgold, and we believe that the project will continue to grow in importance in our portfolio as we advance it toward initial production next year and expand its scope through additional exploration success.”

Paul Weedon, Vice President Exploration commented “These outstanding high grade results mark the conclusion of the Indicated infill drill program ahead of modelling and inclusion in the forthcoming Feasibility Study due in the second quarter. These results continue the high grade theme that we have seen at Koula, with results such as 12m at 38.3 g/t from 180 metres down-hole in SGRD1065, 16m at 28.3 g/t Au in drill hole SGRD1083 from 77m down-hole, and 15m at 24.0 g/t Au in drill hole SGRC1025 from 42m down-hole. With the deposit open down-plunge, drilling has started on deep step-out holes approximately 120m further down-plunge from the previously deepest intersection of 14m at 4.3g/t intersected in SGRD971.”

Figure 1. Séguéla deposits and satellite prospects

Koula

Located approximately 1km to the east of Antenna, Koula was discovered through field reconnaissance and coincident recent artisanal workings in an area previously considered to be a lower exploration priority. A 4 rig infill program of RC and diamond drilling with the goal of infilling the deposit to 25m centres to support an upgraded Indicated classification has been completed. This further supports the rapid advancement and inclusion in the forthcoming Feasibility Study.

Mineralization is hosted by quartz-carbonate veining associated with a well developed mylonitic fabric within and along the interpreted margins of a tholeiitic basalt which in turn has been tightly folded. Coarse gold is commonly recorded in the higher grade zones (eg. Figure 3 – coarse gold in drill core, SGRC1083), with drilling highlighting a consistent moderate southerly plunge to the high grade core over at least 350m, and where it remains open to the south with hole SGRD971 intersecting 14m at 4.3 g/t Au from 273m downhole.