The project area is situated in the Borborema Province within the domain of the Seridó Fold Belt in north-eastern Brazil. It is situated in the top of the Seridó Group stratigraphy (the Seridó Formation) within a sequence of banded arkosic metapelitic schists, subjected to upperamphibolite facies regional metamorphism. Gold mineralisation is located within a NNE trending structure which forms part of the northern segment of the Santa Mônica dextral shear zone. The shear zone displays a penetrative NNEtrending fabric, dipping east at around 35 degrees. In the project area the principal mineralised shear zone, termed the Morro Pelado shearis around 30m thick.

The modelled mineralised zone has dimensions of 3,250m (surface trace striking 035) of varying thickness between 30m and 60m, and ranging between 150m and 500m RL (AMSL).

For the statistics and subsequent grade estimation descriptions, the mineralised zone has been arbitrarily subdivided into the Southern (Zone 1), Central (Zone 2) and Northern (Zone 3) domains based on the 20,050mN and 21,300mN northings.

The mine will be an open pit with contractor operated equipment including excavators with 3.5 m 3 buckets and 45 t trucks. The access roads will be 15 m wide with 10% maximum inclination, meeting safety standards and specifications of the mining fleet. The operational slopes will have 5 m benches in ore and 10 m benches in waste, with a total height of 20 m.

It is anticipated that only 70% of mined material will require blasting.

Material storage:

• The ROM (Run of Mine) ore >0.7 g/t Au will be transported by trucks and discharged directly into the ROM receiving hopper at an average feed rate of 330 tph. Oversize will be removed and broken by hydraulic hammer. Three days crusher feed of 18,000 tonnes will be stockpiled for wheel loader recovery and production continuity.
• Medium Grade Ore (0.5g/t Au to 0.7g/t Au) in the first 4 years, will be transported to the allocated NW1 Stockpile close to the plant. From years 5 to 10, this material will be reclaimed to feed the plant.
• Marginal ore with less than 0.5 g/t Au, will be stockpiled in the NW Waste stockpile which will be reserved specifically for low grade or mineralised waste.
• The waste rock will be transported to the NE Waste stockpile where it will be co-disposed with the filtered tailings generated in the Filtration Plant.

The Stage 1 open pit designed by GE21 Consultorio Mineral for the DFS. The portion of the reserves that will be mined in the 10.2 year L ........

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