Robex Corporate Strategy Update

QUEBEC CITY, March 18, 2024 (GLOBE NEWSWIRE) -- Robex Resources Inc. (TSXV: RBX) (“Robex” or the “Company”) is providing a corporate strategy update for Guinea and Mali.

Revised timeline for Kiniero and development update

Timeline:

Following the updated resource estimate at Mansounia published on December 22^nd 2023, the Management and the Board of Directors have decided to revise and update the development schedule. This will allow us to work on an NI43-101 Updated Feasibility Study (“UFS”) to tentatively improve project economics and derisk the metallurgy with a higher oxide mix. The revised timeline will be:

• March – May 2024: Definition drilling at Mansounia with a target to bring additional Reserves into the mine plan;
• March – September 2024: Earthworks, plant equipment and key infrastructure investments;
• September 2024: Updated Feasibility Study with increased production and higher oxides mix;
• October 2024: Formal construction decision for the revised plant layout;
• December 2025: First gold pour;
  

The new timeline has been sent to the government of Guinea for approval.

Construction progress

Our construction sub-contractor (Wacom) will remain mobilised on site to advance development and take advantage of the additional time to prepare the site and improve access. Formal construction decision will be taken after the Updated Feasibility Study. Detailed engineering has been finalized with the new throughput and this will feed the UFS.

Construction timeline:

• Plant workshop concrete foundation is being poured;
• Tower crane foundation ongoing and will be ready for structural, mechanical, and piping installations;
• CIL bottom plates are prefabricated, starting of shell plates rolling;
• CIL concrete foundation in preparation;
• ROM pad preparation started;
• Completion of the management and workers camp refurbishment with a total capacity of c. 120 beds;
• Access road and site road upgraded and completed;
• LTI is currently at 1.1 million free hours (4.3 million hours group wide);

Long lead items:

• All long lead items have been ordered (25% of total plant capex has been spent) the SAG mill is constructed and ready to be shipped;
• Remaining equipment will be stored, ready to be shipped later in the year;

Mali update

The Board of directors and the Management of Robex have re-assessed assumptions underpinning the current operation in Mali considering challenging operating conditions and rising energy costs. These assumptions have deteriorated Nampala’s viability, and we anticipate the current end of operation in June 2026.