Bibiani Gold Mine

Ghana – Major Gold Deposits

• Ghana has the largest gold endowment in West Africa, with over 130Moz in minable reserves. The majority of gold deposits in Ghana are located in or adjacent to the Ashanti Belt and the Bibiani-Sefwi Belt
• The Bibiani deposit is hosted within meta-sediments of the Kumasi-Afema basin, on the eastern margin of the Bibiani-Sefwi Belt
• Other world-class deposits within the Belt include:
Ahafo – 20 Moz(Newmont)
Chirano – 5 Moz (former Kinross)
•Paleoproterozoic Birimian Series hosts all the significant gold deposits in West Africa.

Exploration Overview:

Background
•Drilling activities have been focused on the Bibiani Main Pit deposit from surface and underground positions
•Resolute was successful in expanding the resource base with improved confidence

Drilling Campaigns Under Resolute Ownership

•Phase 1 drilling program (26,100m DD) during 2015 (2015 Resource below)
•Phase 2 drilling program (23,400m DD) during 2016-2017 culminating in updated resource model (2017 Resource below)
•Also: Diamond drilling program at Strauss-Walsh (1,000m DD) during 2017

Drilling Campaigns Under Asante Ownership

•Phase 1 drilling program (15,000m – 20,000m DD) initiated September 2021

• First gold poured July 7. Gold dore’ shipped late July
• Bibiani will produce 175,000 oz in its first 12 months of operation, 230 – 280 Koz / year through 2030
• An extensive IP survey (induced polarization survey) was completed Q4 2021
• Structural mapping of underground & pit workings (to 9 Level) was completed Feb 2022
• Exploration continues, with a view to developing satellite deposits & extending open-pit mining to +12 years
• The Mining Contractor has been mobilized to deliver +3 Mt/y ore to the process plant, from the open pit mines
• 4 stage development of the Main Pit to support mining to +/- 350m depth and +8 years operation. This will access the approximate 2.3 Moz open pit resource.
• Rehabilitation of the Process Plant is complete & full-time operation is underway
• Tailings Dam is fully reconditioned and has 18 months storage capacity. A lift to provide additional 4 years
  storage capacity will start Q1 2023
• The Bibiani NI – 43 – 101 Technical Report was issued mid-July. Some of the recent drilling results have been captured in the Q3 2022 issue. An update will follow at Q1 2023
• Underground mine planning has been initiated, to add 90Koz/y from 2026 and increase LOM to +14years

• Extensive induced polarization & ground magnetic surveys across the entire lease
• 15,000 – 20,000m drill program initiated September 2021
• Structural geology review embedded within the exploration program
• Previous exploration identified several drill targets:
• Walsh – high-grade shoots previously intercepted below the pit. 2021 / 2022 drill program has delivered +70,000 oz to date
• Area between Main pit and Walsh pit; no previous drilling as area was used historically for tailings storage
• Strike extensions of main zone towards Elizabeth Hill, Big Mug and Little

Early results from the Walsh Satellite pit:

• WADD21-002; 18m @ 3.85g/t Au from 141m; incl. 16m @ 4.22g/t Au
• WADD21-005; 12m @ 4.41g/t Au from 174m
• WADD21-004; 8m @ 4.8g/t Au from 137m
• WADD21-007; 4m @ 7.49g/t Au from 170m
• WADD21-010; 3m @ 5.17g/t Au from 187m
• WADD21-003; 3m @ 5.96g/t Au from 140m;3m @ 4.60g/t Au from 160m