11
April 28, 2016 1 Teranga Gold First Quarter 2016 Exploration Update Three exploration prospects on the Mine Lease; Golouma North, Goumbati West and Goumbati East, have yielded encouraging results thus far during the ongoing 2016 trenching and diamond drilling program. In addition, there are a number of Regional Exploration targets that, although not quite as advanced as the Mine Lease prospects, have also returned favourable trenching and drilling results. Of these, Maragou Main is the more advanced prospect with encouraging trench and step-out core drilling results. For full assay results, please refer to the Appendix on page 11. MINE LEASE PROSPECTS Figure 1: Sabodala Mining Lease Deposits and Prospects. Location Plan. GOLOUMA NORTH PROSPECT The Golouma North prospect is located approximately 1.5 Km north-northeast of the Golouma South pit and 0.3 Km northwest of the proposed Kerekounda pit, (Figure 1). The close proximity to current development pits is a very positive attribute for the Golouma North prospect. In the first half of 2015, several gold zones, including the Golouma North prospect, were identified during a Rotary Air Blast drilling program completed in the areas adjacent to the proposed Golouma South and Kerekounda Pits. A follow up program consisting of seven trenches totaling 563m and two diamond drill core holes (Figure 2) totaling 155m was undertaken in Q4 2015. Favorable results confirmed the presence of gold mineralization associated with quartz veining in strongly sheared and siliceous, carbonate altered volcanics similar to other Golouma deposits.

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Page 1: Teranga Gold First Quarter 2016 Exploration Updates1.q4cdn.com/851853033/files/2016/04-28-16-April... · April 28, 2016 4 Figure 4: Golouma North Prospect – Zones A, B and C. Plan

April 28, 2016 1

Teranga Gold First Quarter 2016 Exploration Update

Three exploration prospects on the Mine Lease; Golouma North, Goumbati West and Goumbati East, have

yielded encouraging results thus far during the ongoing 2016 trenching and diamond drilling program. In

addition, there are a number of Regional Exploration targets that, although not quite as advanced as the

Mine Lease prospects, have also returned favourable trenching and drilling results. Of these, Maragou Main

is the more advanced prospect with encouraging trench and step-out core drilling results. For full assay

results, please refer to the Appendix on page 11.

MINE LEASE PROSPECTS

Figure 1: Sabodala Mining Lease Deposits and Prospects. Location Plan.

GOLOUMA NORTH PROSPECT

The Golouma North prospect is located approximately 1.5 Km north-northeast of the Golouma South pit

and 0.3 Km northwest of the proposed Kerekounda pit, (Figure 1). The close proximity to current

development pits is a very positive attribute for the Golouma North prospect.

In the first half of 2015, several gold zones, including the Golouma North prospect, were identified during

a Rotary Air Blast drilling program completed in the areas adjacent to the proposed Golouma South and

Kerekounda Pits. A follow up program consisting of seven trenches totaling 563m and two diamond drill

core holes (Figure 2) totaling 155m was undertaken in Q4 2015. Favorable results confirmed the presence

of gold mineralization associated with quartz veining in strongly sheared and siliceous, carbonate altered

volcanics similar to other Golouma deposits.

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April 28, 2016 2

During the first quarter 2016, twenty-six additional trenches totaling 3,063m were excavated in the Golouma

– Kerekounda region and, four diamond drill holes (“DDH”) totaling 409m were drilled along the northeast

trend of Golouma North as identified by the trenching results, (Figure 2).

Examples of the elevated gold values outlined in the Golouma North trenches include:

GONTR0002: 2.4 g/t Au over 6m, including 4.7 g/t Au over 2m,

GON00024A: 2.0 g/t Au over 7m, including 3.1 g/t Au over 4m,

GONTR0025: 15.7 g/t Au over 2m

The gold mineralization at Golouma North has been successfully drilled over a strike length of 300m. The

mineralized zone, which dips at 60-70º to the northwest, varies in width from 1-13m and has been

intersected at depths of 11-24m below surface. A typical cross-section through Golouma North Zone A

mineralization is presented in Figure 3. Table 1 lists drilling highlights from the DDH drilling program.

Regional structural trends and gold-in-soil anomalies indicate that the Golouma North mineralization (Zone

A) is likely to extend southwest into Zone B and Zone C, (Figure 4). Zone C is interpreted as a possible

extension to the Golouma Northwest Red Shear Zone based by information gained from earlier trenching

and diamond drilling programs. The Zone A mineralization is also open to the north-northeast.

During the second quarter 2016, additional trenching and an expanded drilling program will be undertaken

to test for extensions to the northeast and to depth of Zone A and to the southwest towards Zones B & C.

The goal of this drilling program is towards achieving initial resource classification for this prospect.

Figure 2: Golouma North Prospect - Zone A. Plan distribution of gold-in-soil anomalies, trench

traces, DDH collar and surface trace.

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April 28, 2016 3

Figure 3: Golouma North Prospect – Zone A. MDD16-0002 Section facing NNE.

Table 1: Golouma North Prospect – Zone A. Drilling Highlights.

Hole # UTM28N East UTM28N North Azimuth/Dip Interval (m) Intercept Values (g/t Au) ** GONDD0001 814851 1454896 170 / - 50 4.0 - 21.0 17.0 m @ 1.61 g/t; incl. 1.0 m @ 3.01 g/t

GONDD0002 814792 1454757 135 / - 50 20.0 - 24.0 4.0 m @ 1.68 g/t

MDD16-0002 814768 1454784 135 / - 50 52.0 - 54.0 2.0 m @ 1.59 g/t; incl. 1.0 m @ 2.57 g/t

23.0 - 26.0 3.0 m @ 2.69 g/t

80.0 - 81.0 1.0 m @ 3.24 g/t

MDD16-0004 814823 1454841 135 / - 50 12.0 - 15.0 3.0 m @ 1.16 g/t

96.0 - 99.0 3.0 m @ 8.24 g/t; incl. 1.0 m @ 12.50 g/t

103.0 - 106.0 3 m @ 2.63 g/t

113.0 - 115.0 2 m @ 1.83 g/t

* Bold type Hole# represents 2016 drilling while others are previously announced 2015 drill holes.

** Intervals calculated using a 0.5 g/t Au cut-off and 2 m maximum internal dilution. Intercepts are not true widths as there is insufficient data to

determine the true orientation of the mineralization.

135 / - 50

135 / - 50

MDD16-0003

MDD16-0005

814798 1454812

814887 1454964

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April 28, 2016 4

Figure 4: Golouma North Prospect – Zones A, B and C. Plan of regional structure, gold-in-soil

anomalies, trench traces, DDH collars and surface trace.

GOUMBATI WEST PROSPECT

The Goumbati West prospect is situated 1.0 Km southwest of the Kobokoto gold deposit and roughly 14.0

Km south-southwest of the Sabodala Mill, (Figure 1), within the regional north-northeast trending Masato-

Niakafiri Structural Corridor. This prospect coincides with a zone of 200-500 ppb gold-in-soil anomalies

outlined along a strike length in excess of 400m, (Figure 5). Gold mineralization at Goumbati West occurs

within a 1.2 Km long, NNE trending shear structure hosting a series of quartz veins within a sheared

sequence of epiclastics displaying silica and carbonate alteration.

During the fourth quarter 2015, four reconnaissance diamond drill holes totaling 388m targeted the quartz

vein system associated with gold mineralization at surface, (Figure 5).

In the first quarter 2016, six trenches totaling 580m were excavated across the gold-in-soil anomalies to

the west (Goumbati West-West) and a further 5 diamond drill holes totaling 535m were drilled along strike

of the 2015 holes. Additionally, four holes were drilled in the Golouma West-West area. The gold

mineralized zone at Goumbati West has been intersected by this drilling at depths ranging from 11- 24m

below surface over a combined strike length of 400m.

Additional trenching and diamond drilling will be undertaken in the second quarter 2016 to test the open

ended strike and depth extensions to the Goumbati West mineralized zone. The upcoming drilling program

at Goumbati West has the same goal as for the drilling at Golouma North, that being achieving initial

resource classification for this prospect.

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April 28, 2016 5

Figure 5: Goumbati West Prospect. Plan distribution of gold-in-soil anomalies, DDH collars and

surface trace.

Table 2: Goumbati West Drilling Highlights.

GOUMBATI EAST PROSPECT

The Goumbati East prospect is located 3.0 Km southwest of the Golouma South gold deposit, in-between

the regional north-northeast trending Niakafiri and Golouma Structural Corridors. Goumbati East is defined

by a series of 200-500 ppb gold-in-soil anomalies coincident with WNW and NE trending shear structures

containing quartz veins within a sequence of volcanoclastics and basalts displaying quartz-carbonate

alteration and tourmaline.

In the fourth quarter 2015, four diamond drill holes were completed for a total of 374m, (Figure 6). Two of

these holes tested the north-northeast trending shear structures and two others were collared to test the

north-northwest trending shear structures. Positive results were received from the holes which tested the

north-northeast shear structures.

Hole # * UTM28N East UTM28N North Azimuth/Dip Interval (m) Intercept Values (g/t Au) **

GBWDD0002 810212 1450713 105 / - 50 17.0 - 20.0 3.0 m @ 2.44 g/t

GBWDD0003 810161 1450649 105 / - 50 28.0 - 30.0 2.0 m @ 11.46 g/t

MDD16-0006 810227 1450753 105 / - 50 18.0 - 21.0 3.0 m @ 1.23 g/t

24.0 - 28.0 4.0 m @ 2.00 g/t

31.0 - 32.0 1.0 m @ 1.97 g/t

MDD16-0008 810146 1450609 105 / - 50 26.0 - 30.0 4.0 m @ 12.42 g/t; incl. 1.0 m @ 48.9 g/t

MDD16-0009 809987 1450119 105 / - 50 21.0 - 25.0 4.0 m @ 1.16 g/t; incl. 1.0 m @ 2.05 g/t

MDD16-0010 810025 1450229 105 / - 50 13.0 - 20.0 7.0 m @ 2.90 g/t

** Intervals calculated using a 0.5 g/t Au cut-off and 2 m maximum internal dilution. Intercepts are not true widths as there is insufficient data

to determine the true orientation of the mineralization.

MDD16-0007 810178 1450684 105 / - 50

* Bold type Hole# represents 2016 drilling while others are previously announced 2015 drill holes.

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April 28, 2016 6

During the first quarter 2016, four trenches totaling 438m were excavated over the north-northeast trending

gold-in-soil anomalies and zones with quartz vein development. Ten additional diamond drill holes totaling

900m have now been completed along strike of the successful 2015 holes on the north-northeast trending

shear structures. Drilling highlights are presented in Table 3. The mineralized zone, which varied in width

from 1-4m, was intersected in drilling at depths ranging from 10-50m below surface over a strike length of

250m. Gold mineralization appears to drop off or has been offset towards the north-northeast as reflected

in the drill results from MOD16-0001 and MOD16-0006 but remains open-ended towards the south-

southwest and to depth.

Figure 6: Goumbati East Prospect. Plan of gold-in-soil anomalies, trench traces, DDH collars and

surface trace.

Table 3: Goumbati East Drilling Highlights.

Hole # * UTM28N East UTM28N North Azimuth/Dip Interval (m) Intercept Values (g/t Au) **

11.0 - 15.0 4.0 m @ 5.74 g/t

12.0 - 15.0 3.0 m @ 7.46 g/t

19.0 - 21.0 2.0 m @ 2.13 g/t

GBEDD0004 813191 1451268 110 / - 50 21.0 - 24.0 3.0 m @ 0.99 g/t

GBEDD0007 813156 1451279 110 / - 50 53.0 - 55.0 2.0 m @ 1.96 g/t

GBEDD0008 813170 1451235 110 / - 50 31.0 - 33.0 2.0 m @ 1.34 g/t48.0 - 49.0 1.0 m @ 1.54 g/t

53.0 - 54.0 1.0 m @ 1.32 g/t

GBEDD010 813132 1451251 110 / - 50 63.0 - 66.0 3.0 m @ 1.19 g/t

GBEDD012 813139 1451141 110 / - 50 60.0 - 63.0 3.0 m @ 2.46 g/t* Bold type Hole# represents 2016 drilling while others are previously announced 2015 drill holes.

** Intervals calculated using a 0.5 g/t Au cut-off and 2 m maximum internal dilution. Intercepts are not true widths as there is insufficient data to

determine the true orientation of the mineralization.

110 / - 50

110 / - 50

GBEDD0003 813201 1451285

GBEDD009 813155 1451195

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April 28, 2016 7

OTHER MINE LEASE PROSPECTS

Currently, there are additional Mine Lease prospects at an early stage of exploration including the Maleko

and Koulouqwinde prospects, (Figure1). An eight-hole diamond drilling program will commence at Maleko

during the second quarter 2016 to follow up on a broad, 500m long, northwest-southeast trending gold-in-

soil anomaly identified during an earlier geochemical soil sampling program. At Koulouqwinde, a trenching

program will be initiated early in the second quarter 2016 to follow up a 400m long zone, parallel to the

northeast-southwest trending regional shear structures, with coincident gold-in-soil anomalies.

REGIONAL PROSPECTS

Figure 7: Regional Prospects. Location Plan.

MAROUGOU MAIN PROSPECT

The Marougou Main prospect, originally defined by termite mound soil geochemistry, is situated 35 Km

northwest of the Sabodala Mill, (Figure 7). The Marougou Main prospect was further defined by rotary air

blast (RAB) drilling, followed by reverse circulation (“RC”) drilling in 2013. This drilling identified a series of

north-northeast trending, northwest dipping (25-45°), auriferous quartz vein lenses, with disseminated

pyrite, developed over a 1,200m strike length down to depths of 170m below surface. The recent diamond

drilling completed in the fourth quarter 2015 and first quarter 2016 indicates that gold mineralization is

associated with quartz veins and stringers developed in medium to coarse grained immature sandstones

and felsic intrusive sills.

Four trenches totaling 493m were excavated in the first quarter 2016, (Figure 8). Three diamond drill holes

totaling 424m were completed in the fourth quarter 2015 with six additional diamond drill holes, totaling

650m, completed in the first quarter 2016, (Figure 8). Drilling and trenching results are currently being

assessed to provide structural information on the orientation of the mineralized zones which will assist with

follow-up drilling programs throughout the Marougou area. Some of the assay result highlights from the

diamond drilling and trenching are presented in Table 4 and Table 5, respectively.

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April 28, 2016 8

Additional trenching and diamond drilling will be undertaken in the second quarter 2016 to test for strike

and down dip extensions to the mineralized zones.

Figure 8: Marougou Prospects. Plan of regional structure, termite mound gold anomalies, trench

traces, RC collars and surface trace, DDH collars and trace.

Table 4: Marougou Main Drilling Highlights.

Hole # * UTM28N East UTM28N North Azimuth/Dip Interval (m) Intercept Values (g/t Au) **

MARDD0001 195513 1468100 120 / - 55 37.0 - 44.0 7.0 m @ 4.67 g/t; inclu. 3 m @ 7.73 g/t

47.0 - 51.0 4.0 m @ 2.24 g/t; inclu. 1.0 m @ 3.68 g/t

136 - 140 4.0 m @ 1.06 g/t

MARDD0003 196150 1469115 120 / - 55 53.0 - 54.0 1.0 m @ 1.23 g/t

2.0 - 3.0 1.0 m @ 1.6 g/t7.0 -18.0 11.0 m @ 1.72 g/t; inclu. 1.0 m @ 3.91 g/t

22.0 - 25.0 3.0 m @ 2.20 g/t

11.0 - 14.0 3.0 m @ 1.25 g/t

17.0 - 21.0 4.0 m @ 2.05 g/t

34.0 - 35.0 1.0 m @ 1.54 g/t

54.0 - 55.0 1.0 m @ 1.4 g/t

MARDDD0006 195897 1468578 120 / - 55 46.0 - 49.0 3.0 m @ 1.64 g/t

45.0 - 50.0 5.0 m @ 1.38 g/t

114 - 117 3.0 m @ 1.27 g/t

140 - 145 5.0 m @ 1.16 g/t

MARDD0008 195525 1468115 120 / - 55 31.0 - 37.0 6.0 m @ 1.40 g/t; inclu. 1.0 m @ 3.21 g/t

MARDD0009 195503 1468082 120 / - 55 38.0 - 50.0 12.0 m @ 2.42 g/t; inclu. 4 m @ 4.49 g/t

* Bold type Hole# represents 2016 drilling while others are previously announced 2015 drill holes.** Intervals calculated using a 0.5 g/t Au cut-off and 2 m maximum internal dilution. Intercepts are not true widths as there is insufficient data to

determine the true orientation of the mineralization.

MARDD0002 195888 1468565 120 / - 55

MARDD0004 196187 1469070 120 / - 55

MARDD0007 195881 1468547 120 / - 55

MARDD0005 196201 1469110 120 / - 55

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April 28, 2016 9

Table 5: Marougou Main Trenching Highlights.

NIENIENKO MAIN PROSPECT

The Nienienko Main prospect is located 45 Km north-northeast of the Sabodala Mill, (Figure 7 & 9). Gold

mineralization is primarily associated with flat lying white and smoky quartz veins developed within locally

brecciated granodiorite, granite, and andesitic units. Gold mineralization has been traced in trenches

excavated over a distance of 1,200m and coincides with a termite geochemical gold anomaly extending

over a minimum 2,500m strike length. The mineralization is possibly controlled by regional scale north-

northeast trending decollement and imbricate thrust systems. An RC drilling program has been planned for

Nienienko Main to commence in the second quarter 2016. This RC program will entail drilling 3,300m to

provide an initial evaluation of the economic potential of the extensive, flat lying, quartz-breccia vein system.

Figure 9: Nienienko Main Prospect. Plan of surface geology and drill fences for RC

Drilling program.

Trench # UTM28N East UTM28N North Azimuth Interval (m) Intercept Values (g/t Au) *

87.0 - 93.0 6.0 m @ 0.76 g/t

96.0 - 102 6.0 m @ 0.69 g/t

114 - 133 19.0 m @ 0.97 g/t

54.0 - 55.0 1.0 m @ 3.22 g/t

62.0 - 64.0 2.0 m @ 0.63 g/t

80.0 - 82.0 2.0 m @ 5.19 g/t

91.0 - 96.0 5.0 m @ 1.65 g/t

104 - 105 1.0 m @ 0.6 g/t

RT16-0003 196128 1469121 120 83.0 - 93.0 10.0 m @ 0.88 g/t

RT16-0004 195949 1469228 120 82.0 - 113 31.0 m @ 1.38 g/t

* Intervals calculated using a 0.5 g/t Au cut-off and 2 m maximum internal dilution. Intercepts are not true widths as there is insufficient data to

determine the true orientation of the mineralization.

195496 1468114RT16-0001 120

RT16-0002 195876 1468571 120

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April 28, 2016 10

OTHER PROSPECTS

Other early stage exploration prospects (locations given in Figure 7) which are currently being investigated

include:

Leoba, situated 5.0 Km southwest of the Nienienko Main prospect, where trenching and a three-

hole diamond drilling program were completed in the first quarter 2016, (drill assay results

pending).

Kodadian, where three diamond drill holes were completed in the first quarter 2016, (assay results

pending).

Diegoun North Cinnamon, where a detailed soil sampling and trenching programs over the

“Doughnut Regional Scale Soil Anomaly”, are underway with follow up diamond drilling programs

planned. The initial three-hole diamond drilling program is planned for the second quarter 2016.

Diegoun North Honey, where a detailed soil sampling and trenching programs over the “Doughnut

Regional Scale Soil Anomaly” are underway with a follow up, minimum 8-hole diamond drilling

program planned in the second quarter 2016.

Marougou West, where a large scale trenching program is underway to evaluate a strike extensive

grouping of termite mound geochemical anomalies.

Marougou North and Marougou South, where a trenching program is planned in the second quarter

2016.

Tourokhoto, where evaluation of soil anomalies, RC and DDH drilling programs is underway.

KA, where additional trenching and diamond drilling programs are planned for the second quarter

2016.

Competent and Qualified Persons Statement

Teranga's exploration programs are being managed by Peter Mann, FAusIMM. Mr. Mann is a full time

employee of Teranga and is not "independent" within the meaning of National Instrument 43-101. Mr. Mann

has sufficient experience which is relevant to the style of mineralization and type of deposit under

consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in

the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and

Ore Reserves". Mr. Mann is a "Qualified Person" under National Instrument 43-101 Standards of Disclosure

for Mineral Projects. The technical information contained in this news release relating exploration results

are based on, and fairly represents, information compiled by Mr. Mann. Mr. Mann has verified and approved

the data disclosed in this document, including the sampling, analytical and test data underlying the

information. The RC and initial diamond drill samples are prepared at site and assayed in the SGS

laboratory located at the site. Analysis for elevated gold assays in the diamond drilling samples are sent for

confirmatory fire assay analysis at ALS Johannesburg, South Africa. Mr. Mann has consented to the

inclusion in this document of the matters based on his compiled information in the form and context in which

it appears herein.

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April 28, 2016 11

HOLE IDUTM28N

East

UTM28N

NorthAzimuth Dip

Downhole

Depth (m)

Intercept Values (core

length @ g/t Au)

30.00 1m @ 0.51 g/t

100.00 1m @ 0.81 g/t

GBEDD0002 814,791 1,454,757 137 -50 6.00 1m @ 0.87 g/t

-61 11.00 4m @ 5.74 g/t

Including 12.00 3m @ 7.46 g/t

19.00 2m @ 2.13 g/t

45.00 1m @ 0.58 g/t

49.00 1m @ 0.50 g/t

GBEDD0004 813,191 1,451,268 110 -50 21.00 3m @ 0.99 g/t

49.00 1m @ 2.36 g/t

67.00 1m @ 0.98 g/t

GBEDD0006 813,200 1,451,324 110 -50 40.00 1m @ 0.98 g/t

GBEDD0007 813,156 1,451,279 111 -50 53.00 2m @ 1.96 g/t

23.00 1m @ 0.62 g/t

31.00 3m @ 2.12 g/t

Including 33.00 1m @ 3.67 g/t

48.00 1m @ 1.54 g/t

53.00 1m @ 1.32 g/t

GBEDD0010 813,133 1,451,250 110 -50 63.00 3m @ 1.20 g/t

57.00 1m @ 0.78 g/t

61.00 1m @ 0.83 g/t

68.00 1m @ 0.87 g/t

-50 60.00 3m @ 2.34 g/t

Including 61.00 1m @ 3.61 g/t

GBEDD0013 813,098 1,451,155 109 -50 100.00 1m @ 0.51 g/t

MDD16-0001 813,126 1,451,355 111 -50 10.00 1m @ 1.04 g/t

GBWDD0001 810,239 1,450,787 107 -51 19.00 1m @ 0.60 g/t

-50 17.00 3m @ 2.35 g/t

Including 17.00 1m @ 4.72 g/t

GBWDD0003 810,161 1,450,649 105 -60 28.00 2m @ 11.46 g/t

GBWDD0004 809,994 1,450,194 105 -50 18.00 1m @ 0.50 g/t

MDD16-0006 810,229 1,450,753 105 -50 18.00 3m @ 1.24 g/t

-50 24.00 4m @ 1.99 g/t

Including 24.00 2m @ 3.38 g/t

31.00 1m @ 1.97 g/t

26.00 1m @ 0.55 g/t

29.00 1m @ 48.90 g/t

-50 21.00 4m @ 1.16 g/t

Including 23.00 2m @ 1.75 g/t

-50 13.00 7m @ 2.91 g/t

Including 13.00 4m @ 3.57 g/t

-51 4.00 13m @ 1.62 g/t

Including 5.00 4m @ 3.40 g/t

20.00 1m @ 3.01 g/t

-50 20.00 4m @ 1.39 g/t

Including 20.00 1m @ 3.53 g/t

4.00 1m @ 0.99 g/t

10.00 1m @ 0.50 g/t

52.00 2m @ 1.59 g/t

Including 52.00 1m @ 2.57 g/t

19.00 1m @ 0.54 g/t

23.00 3m @ 2.70 g/t

Including 25.00 1m @ 5.51 g/t

-50 80.00 1m @ 3.24 g/t

MDD16-0004 814,823 1,454,841 136 -51 12.00 3m @ 1.16 g/t

96.00 3m @ 8.25 g/t

103.00 3m @ 2.63 g/t

113.00 2m @ 1.84 g/t

Including 113.00 1m @ 2.82 g/t

-56 37.00 7m @ 4.62 g/t

Including 41.00 3m @ 7.67 g/t

-55 47.00 4m @ 2.27 g/t

Including 48.00 1m @ 3.72 g/t

74.00 1m @ 0.61 g/t

101.00 1m @ 0.58 g/t

136.00 4m @ 1.06 g/t

Including 138.00 2m @ 1.47 g/t

MARDD0003 846,348 1,469,626 121 -55 53.00 1m @ 1.23 g/t

2.00 1m @ 1.60 g/t

7.00 9m @ 2.02 g/t

Including 9.00 1m @ 3.91 g/t

17.00 1m @ 0.61 g/t

21.00 3m @ 2.20 g/t

Including 23.00 1m @ 3.31 g/t

11.00 3m @ 1.25 g/t

17.00 4m @ 2.06 g/t

Including 20.00 1m @ 3.26 g/t

34.00 1m @ 1.54 g/t

42.00 1m @ 1.40 g/t

45.00 3m @ 1.65 g/t

136.00 1m @ 0.85 g/t

45.00 5m @ 1.38 g/t

70.00 1m @ 0.53 g/t

81.00 1m @ 0.57 g/t

114.00 3m @ 1.27 g/t

140.00 1m @ 0.67 g/t

142.00 3m @ 1.64 g/t

-54 31.00 6m @ 1.40 g/t

Including 35.00 1m @ 3.21 g/t

17.00 1m @ 0.55 g/t

38.00 12m @ 2.42 g/t

Including 40.00 4m @ 4.49 g/t

810,027MDD16-0010

-55

-56

-55

-55

-55

-55

MARDD0008

MARDD0009

-551201,469,052846,094

-56

1211,468,595

MARDD0007

1151,452,867815,029GBEDD0003

1101,451,235813,170GBEDD0008

845,736MARDD0001

MARDD0002

MARDD0004

1171,469,068846,099

1,450,683810,180MDD16-0007

1,450,713810,212GBWDD0002

1031,450,228

846,400

846,109 1,469,083 117

1201,469,582846,387

MARDD0005

MARDD0006

DDH intersections, >0.5 g/t Au with max 2m internal dilution/no external dilution

GBEDD0001 812,622 1,451,219 220 -50

1,451,196813,157

GBEDD0005

GBEDD0009

813,162 1,451,294

GBEDD0011 1,451,213

Golouma North DDH Program - 2 Holes 2015

Golouma North DDH Program - 4 Holes

1st Quarter 2016

Goumbati East DDH Program - 10 Holes

1st Quarter 2016

Goumbati West DDH Program - 4 Holes 2015

Goumbati West DDH Program - 5 Holes

1st Quarter 2016-51106

-50137

814,768 1,454,784

813,126

1,450,609810,149MDD16-0008

1,450,119809,987

GONDD0001 1,454,869814,851

1,451,144813,142

Goumbati East DDH Program - 4 Holes 2015

-50

-51110

111 -51

-50

106

-51113

109

105

-61

-49133

105

172

Marougou Main DDH Program - 8 Holes

1st Quarter 2016

Marougou Main DDH Program - 1 Hole 2015

GBEDD0012

MDD16-0009

1,454,965814,887

MDD16-0003

MDD16-0005

1351,454,812814,798

GONDD0002 1371,454,757814,791

MDD16-0002

125

1211,468,611

1,468,578845,727

845,748

1171,469,623

APPENDIX

First Quarter 2016 Exploration Results