Ann: Kitumba Prefeasibility Study Optimisation Up, page-2

re: Ann: Kitumba Prefeasibility Study Optimis... ? Improved feed grade

? Improved recovery

? Lower operating costs, and

? Substantially improved economics

? It should also be noted that a simple power supply solution for the project has been identified by ZESCO (the Zambian state owed power generation and distribution
company).

? The proposed development area is readily accessible for heavy equipment by road. The land is of little agricultural value and the nearest village is more than 10km away.

? The Mumbwa Exploration Project area is underlain by a giant mineralised iron-oxide alteration system extending over 25km along a north-south trending structural corridor,
with associated large scale magnetic and gravity anomalies.

? The Kitumba and Kakozhi areas are the main immediate target areas for exploration, with ongoing exploration work
in progress.

It will be interesting to see the final outcome of the optimized PFS.

Due to the fact the announcement today was not really necessary I have the feeling that is a little bit of tactics. Putting the spotlight more to Kitumba because (probably) the outcome regarding Perkoa is disappointing.

BTR in the next 18 months will raise like phoenix from the ashes or will sink "without singing and bands playing".

That's it.