SASE CENTRAL

Sase Central is situated within the Lupoto Copper Project. The northern boundary of the permit is located approximately 10km to the south of the Kipoi Project and the project area can be accessed by a road that leads directly to Kipoi.

An upgrade to the Indicated and Inferred Resources at Sase Central in December 2014 reported an Indicated Resource of 9.6Mt at 1.39% Cu containing 134,000 tonnesof copper (and 5,000 tonnes of cobalt). The Inferred Resource is 2.8Mt at 1.21% Cu containing 34,000 tonnes of copper (and 1,000 tonnes of cobalt). This is a combined Indicated and Inferred Resource of 168,000 tonnes. A cut-off of 0.5% Cu was used to estimate the resource.

The resource model is based on mineralisation to approximately 150m vertical depth and the deposit is amenable to conventional open-pit mining.

The resource estimate shows Sase Central has the potential to extend the life of the Stage 2 SXEW development at Kipoi.