BGP Geophysical Services was commissioned to provide recommendations on data acquisition activities aimed at collecting the requisite data to enable the preparation of Mineral Resource estimates and models to support Guinea Alumina Corporation’s (GAC) FEL3 Project study.

The study included the use of conditional simulation to assist with drill spacing selection, quantify the confidence in the local resource estimates, and provide recommendations for grade control requirements.

Upon completion of the infill drilling programs, BGP prepared Mineral Resource estimates and models for bauxite deposits contained on 10 plateaux. Innovative unfolding techniques were used to ensure the accurate modelling of the profile grades, with local estimates prepared for a comprehensive set of major and minor elements and geometallurgical parameters.

Upon completion of the Mineral Resource estimates, BGP commenced a work program to develop mine plans and Ore Reserve estimates to support the FEL3 Project study. The study focused on a base case scenario that entailed the extraction of Export Ore from nine plateaux located in the southern portion of the GAC concession area. This was supplemented by an upside case scenario study.

This authorization is without prejudice of any claims that GAC could have against BGP in future, and does not constitute a waiver of any of GAC’s rights.