MEYA MINING DEVELOPMENT TIMELINE 03 OCTOBER 2017
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`@9(+# J/W [2EV*9+B"E&*@*J*9+B"E&,*!DGMa\(*&+'O-* 0/<B(G*00/WV'(,G*bD/0B 9(+::*0G*917G*`@9(+# J/a [2EV*9+B"E&*]#$'&,,36N 9(+::*0G*917G*`@9(+# J/R 1&,$2#'&*9(+(&B&6( 0D/.B(G*WB'(,G*b</J[6 917G*`@9(+# A D'4$3%!45459%]%&'(<=*+4(5 M/0 ;3636N*@*Q&K&E$"B&6(*4*?#& D.aG\\\("B ;&8+ M/< ]#$'&,,36N*@*?#&*]#$'&,,&).\G\\\("B ;&8+ M/. A+#+(, 0JG\\\'(CB$6(O ;&8+ K /J%+(%?J%^"$'%!45"%&3$5\%E"."'C"%;+$+":"5+\%Q; W/0 ;36&*]E+6 M\\V(*C+662B*'$6:3N2#+(3$6 9(+::*0G*917G*`@9(+# W/< =&+,3U3E3(8*9(2)8 M\\V(*C+662B*'$6:3N2#+(3$6 9(+::*0G*917G*`@9(+# W/. 1&,&#K&*9(+(&B&6(*!Y]P*$:*c9b.\\;- M\\V(*C+662B*'$6:3N2#+(3$6 9(+::*0G*917G*`@9(+# L W_(:23"+4(5%G$+"W%V?J6#"$'%!45459%`4*"5*"X J@+2-%+(%/@@+2-%23$5+ ;&8+ BLY Sierra Leone Ltd Address: Phone: Germinate SL LTD Address: Phone: One Year Name: John Sanderson Position: Operations Manager West Africa Address: No.29, Second Circular Road, Cantonments, Accra Ghana Phone: +233 544 34 2847 E-mail: john.sanderson@boartlongyear.com Name: Dino Coutino Address: Phone: + E-mail: dinocout@gmail.com AUGUST 16 SEPTEMBER 16 OCTOBER 16 Term sheet between Germinate and Huso signed 18 May 16 Due diligents finalized 29 Jun 16 Phase 1 work programme approved 31 Jul 16 Volvo mining fleet lease /purchase agreement 1 Sep 16 www.volvoce.com Meya management mobilized 1 Oct 16 MEYA Consulmet 50tph processing plant design - 1st draft 9 Aug 16 www.consulmet.com KOIDU MINE Boart Longyear mobilized 7 Sep 16 SRK Consulting Canada appointed as CPR/resource development 29 Sep 16 Resource Development Proposal For Dyke Zone B Sierra Leone Meya Mining registered 19 Aug16 Germinate board approval 19 Aug 16 TGH board approval 22 Aug 16 Casey Hetman, SRK Canada also developed resource statement for the Koidu in 2009/10, is very fimilar with specific ore body. www.na.srk.com Prepared for Meya Mining Dyke Zone B south of Blow B2 / (Hetman et al, 2010) EL 07/2015 LICENSE AREA TOTAL AREA: 130KM 2 Sale of share agreement 23 Aug 16 Prepared by Boart Longyear delineation drilling commenced 13 Oct 16 Boart Longyear drilling contract 25 Aug 16 www.boartlongyear.com Meya camp site as at 29 Sep 16 SRK Consulting (Canada) Inc. 2CT026.P01 September 29, 2016 Boart Longyear delineationdrilling for the month 966m 29 Oct 16 MASTER DRILLING SERVICES AGREEMENT Boart Longyear Company Master Contract No. 52708 Effective Date 15 August 2016 Term Boart Longyear Representative Company Representative
NOVEMBER 16 DECEMBER 16 JANUARY 17 EL07/2015 License transfered from Germinate to Meya Mining 2 Nov 16 Camp and infrastructure construction commence 7 Nov 16 Consulment and management site visit 3 Dec 16 - Plant footprint - Slimes dam - Tailings dump - Water supply Transfer of 51% share in Meya Mining from Germinate to Trustco Resources 13 Jan 17 MEYA MINING SHAREHOLDING 100% (Namibia) (Namibia) TRUSTCO SHAREHOLDERS (2017) Names Shareholding % 51% 49% (Mauritius) Consulmet plant design finalized 10 Nov 16 First shipment of Volvo fleet arrive in Freetown 14 Dec 16 Dr Quinton van Rooyen 50.84 Pershing LLC 30.82 Ithuba Investments LP Riskowitz Value Fund LP Buckley Capital Partners LP and Buckley Capital Advisors LLC Snowball Wealth (Pty) Ltd 3.96 Constantia Insurance Company Limited 1.89 Midbrook Lane (Pty) Ltd 1.65 Chou, Leo Chih Hao 1.04 Morgan Stanley Smith Barney LLC 0.47 Government Employees Pension Fund 0.44 Grand total 91.11 Total number of issued shares (Sierra Leone) GERMINATE SHAREHOLDER (2017) Names Shareholding % Ibrahim S. Kamara 100% Volvo fleet mobilize to site 13 Jan 17 Plant manufacturing commence 11 Nov 16 Boart Longyear delineation drilling for the month 1184m 29 Dec 16 Development of bulk sample 1 (Bardu) 18 Jan 17 CEMMATS Environmental baseline study concluded 29 Nov 16 aithonline.com/cemmats Boart Longyear delineation drilling for the month 1216m 29 Nov 16 Plant manufacturing and infrastructure construction WIP 25 Jan 17 Boart Longyear delineation drilling for the month 1668m 31 Jan 17
FEBRUARY 17 MARCH 17 120mm APRIL 17 23mm Complete Volvo earth moving fleet on site 7 Feb 17 Plant related infrastructure layout finalized 1 Mar 17 Bardu sample first kimberlite exposed 8 Apr 17 Plant site preperation and earth works commence 10 Feb 17 First 8000t decomposed kimberlite from Bardu sample into stockpile 8 Mar 17 Plant erection progress DMS and course XRT WIP 12 Apr 17 Bardu sample development and infrastrucure WIP 28 Feb 17 Plant civils WIP and plant erection commence 12 Mar 17 Boart Longyear drilling delineation for the month 925m and 30 Apr 17 Koidu Mine and Meya sample Meya plant site Meya camp site Bardu sample Waterloo sample Boart Longyear delineation drilling for the month 1835m 28 Feb 17 Boart Longyear delineation drilling for the month 837m 30 Mar 17 Dyke Zone B along 12km strike
MAY 17 JUNE 17 JULY 17 245mm 543mm 362mm Development at Meya sample area commence 10 May 17 Plant progress as at 10 Jun 17 Plant progress as at 4 Jul 17 Kimberlite exposure at Meya sample 15 May 17 Bardu sample progress as at 13 Jun 17 SRK mapping of Bardu sample Collection of 25 Micro diamond analysis samples 13 Jul 17 Development at Waterloo sample area commence 18 May 17 Dyke Zone exposure at Bardu Boart Longyear delineation drilling for the month 1175m 30 May 17 Drilling results indicate 11.5Mt ore, ~6Mct 31 May 17 Casey Hetman SRK Canada visit project to look at exposed kimberlite with positive feedback (quantities and sizes of olivine and mantle zenoliths. 29 Jun 17 SRK mapping of Meya sample Collection of 17 Micro diamond analysis samples 18 Jul 17
AUGUST 17 SEPTEMBER 17 OCTOBER 17 300mm 246mm 192mm Infield screening plant (course XRT) commissioning 3 Aug 17 Blast drilling commence 8 Sep 17 Geology - complete mapping of 184m kim strike at Meya River 4 Oct Complete ESIA Scoping Study & Assesment (Cemmats) 15 Oct EPA Board Approval 18 Oct 17 Licence 20 Oct Mining - focus on Meya River sample: Plant progress as at 5 Aug 17 First diamond export (Bardu and Meya decomposed kimberlite only) 2656ct 20 Sep 17 Complete blast hole drilling (Blast 1) 6,328m 1st Blast Waste -153 kt Ore - 5.5 kt 17 Oct 20 Oct First diamond produced 19 Aug 17 Load & Haul Solid Waste 100 kt Comp Kimberlite to Plant - 5.5 kt OB - 200 kt Weathered kim to plant - 10 kt Meya - 7 kt Waterloo - 3 kt 20 Oct to 31 Oct Processing 20 Oct to 31 Oct Weathered - 10 kt (1,100 cts) Competent - 5.5 kt (3,300 cts)