Ann: Company Update, page-2

COMPANY UPDATE
• Queensland Government Finally Issues Environmental Authority
for Mt Freda.
Tombola Gold Ltd (ASX: TBA) (the “Company”) wishes to advise after a lengthy approval process the
Queensland Government has finally issued the Environment Authority (EA) for the commencement
of the construction of the Mt Freda Gold Vat Leach and Carbon-in-Column processing facility and
associated mining activities.
The Gold processing plant (ASX: TBA 2nd August 2021), which consists of four 2 tonne Gold recovery
carbon columns, already completed and located within the process facility bund wall. The entire
processing plant has been manufactured off-site and will be assembled on-site with only the
cyanide and caustic soda handling and mixing circuit (now completed) to be installed mid/late
January.
Construction of the two 40,000 tonne re-useable Leach Vats for Mt Freda is now well under
construction together with the Pregnant Liquor Solution (PLS) and Barren Liquor Solution (BLS)
ponds (ASX: TBA 2nd August 2021). The Gold processing plant will operate at 150,000 liters of
solution per hour via four 2 tonne activated carbon columns. The Gold processing plant will initially
commence production of approximately 300,000 tonnes of Gold mineral resource per year with a
forecast Gold production of 57,300 ounces of Gold over 3 years with a net margin of $63.7 million
over the three years (ASX: TBA 26th July 2021) with drilling to continue to expand the life of mine.