Ann: Opuwo Cobalt Project Maiden JORC Mineral Resource, page-25

• Maiden Indicated and Inferred Mineral Resource of 112.4 million tonnes, grading 0.11% cobalt, 0.41% copper and 0.43% zinc, at a cut-off grade of 0.06% cobalt. This is three times the initial exploration target that was set.

• 126,100 tonnes of contained cobalt significantly exceeds the Company’s expectation and its previously announced exploration target. 126,100 tonnes of contained cobalt is larger than COBs resource by a factor of 2. One of the biggest outside of the DRC.

• Mineralised zones comprising the resource are open in all directions, with excellent scope for expansion with further drilling. Very large resource potential with further drilling. Could be a world class Cobalt resource and project.

• The Mineral Resource will form the basis of the Project Scoping Study for Opuwo, for which key work programs are advancing well, with delivery expected late in Q2, 2018

This has exceeded my expectations