KUISEB

Takoradi announced that further drilling along strike at the Hope deposit in Namibia has established a new resource as well as identifying continuing higher grade gold and copper intercepts. Details of the new resource includes inferred resource of 3,275,250 tonnes at 2.70% Cu and 0.65g/t Au at a 0.5% Cu cut-off grade. An initial scoping study under way has indicated that, assuming continuing success with the current drilling programs and metallurgical testing, an initial, open pit operation may be established at the project followed by a shallow underground mining operation.

Reported that further drilling had established a new resources as well as identifying continuing gold and copper intercepts. Important Intersections include HDD63 returned 7.65m at 5.32%Cu and 1.37g/t Au, HDD71 intersected 3.17m at 8.35%Cu and 1.73g/t Au, 23.31m at 1.59%Cu and 0.23g/t Au was found in HDD82 and HDD91 intercepted 10.12m at 5.72% Cu and 0.56g/t Au including 0.82m at 10.20%Cu and 0.73g/t Au

Reported that drilling has been extended along strike for over 1500m from the outcrop, 300m down plunge from the estimated resource block where additional mineralized zones of copper-gold have been located at depth. A total of 14 diamond drill holes were completed on the Hope Prospect during the quarter to depths of between 430 metres to 627 metres. This drilling comprised a total of 7,160 metres in total. The additional drilling has resulted in the extension of the previously determined resource to now 2,500,000 tonnes at a grade of 2.41% Cu, 0.66g/t Au, 8.72g/t Ag. (at a cut off of 0.8%Cu). This is a 33% increase in potential resources at the Hope Deposit.