WA

Azumah Resources reported encouraging results from preliminary open pit optimisation studies undertaken on the Kunche and Bepkong gold deposits that form part of the Company’s 100%-owned Wa Gold project in north west Ghana. The studies indicate that an operating surplus of approximately A$138 million (US$112 million) could be generated from a 1.0 million tonne per annum gold mining and gravity / CIL processing operation. The conceptual operation, using conventional excavator and truck mining techniques, would mine a combined 4.5 million tonne Indicated and Inferred Mineral Resource averaging 2.24g/t gold and containing 323,000oz gold from within the total Kunche-Bepkong Indicated and Inferred Mineral Resource of 12.1 million tonnes at 1.9g/t gold containing 754,300oz. Total cash operating costs are estimated to be A$593/oz (US$483/oz) of gold recovered, reflecting the advantages of the close proximity of the Kunche and Bepkong Resources and the ability to access higher-grade, low strip ratio, near-surface oxide mineralisation at an early stage of operations.

Azumah Resources reported that a recently completed 2,946 m reverse circulation (RC) drilling program within the Company’s 100% owned Wa Gold project, north west Ghana has intersected wide, high-grade oxide gold mineralisation at Kunche and identified two new zones of shallow gold mineralisation nearby at Bepkong North and Kunche West. Intersections include 29.0 meters at 4.02 g/t gold from 6.0 meters in hole KRC163 (Kunche Oxide).

Azumah Resources announced drilling results at the Collette and Julie prospect on the Wa property. Wide mineralised zones confirm continuity at Julie prospect and drilling to target extensions to Collette and Julie prospects. Highlights includes from Hole ACORC004 with 12m at 13.13g/t gold from 24m including 3m at 45.90g/t gold from 24m, 1m at 16.20g/t gold from 60m was found in ACORC002, in Hole AJRC027 intersected 13m at 2.78g/t gold from 10m, AJRC028 with 2m at 8.96g/t gold from 21m and in AJRC032 intersected 3m at 5.03g/t gold from 52m.