Mineral Reserves and Mineral Resources

The Mineral Reserves and Mineral Resources were estimated as at 31 December 2022 in accordance with the provisions adopted by the Canadian Institute of Mining Metallurgy and Petroleum (CIM) and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

1. Metal Price, Cut-off Grade, Metallurgical Recovery
2. Mineral Reserve and Mineral Resource estimates are shown on a 100% basis. Designated government entities and national minority shareholders hold the following interests in each of the mines: 20% of Sadiola, 10.1% of Bonikro and 15% of Agbaou. The Government of Ethiopia is entitled to a 7% equity participation in Kurmuk. Only a portion of the government interests are carried.
3. All Mineral Reserves and Mineral Resources have been estimated in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and NI 43-101.
4. The Measured and Indicated Mineral Resource estimates are inclusive of those Mineral Resource estimates modified to produce the Mineral Reserve estimates.
5. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
6. Mineral Reserves and Mineral Resources are reported as of December 31, 2022.
7. Refer to the following NI 43-101 Technical Reports for further information and background on the development of the Mineral Resources and Mineral Reserves:
   (1) Sadiola: NI 43-101 Technical Report for the Sadiola Gold Project, Mali, 12 June 2023
   (2) Kurmuk: NI 43-101 Technical Report for the Kurmuk Gold Project, Ethiopia, 9 June 2023
   (3) Bonikro: NI 43-101 Technical Report for the Bonikro Gold Project, Republic of Côte d’Ivoire, 5 July 2023
   (4) Agbaou: NI 43-101 Technical Report for the Agbaou Gold Project, Republic of Côte d’Ivoire, 5 July 2023
8. The following are the qualified persons responsible for the Item 14 (Mineral Resource) and Item 15 (Mineral Reserve) of the respective Technical Reports.

Technical reports for the mineral properties of the company outlined above are available under the company’s SEDAR+ profile at www.sedarplus.ca.