Based on the current mining schedules, there is 17 months of pre...

Based on the current mining schedules, there is 17 months of pre production mine development at Chariot (Figure 7), 9 months of
pre strip mining at Mauretania and one month of pre strip mining at Black Snake (Figure 22). Given the extended pre production
periods and the fact that mining has not commenced at any of the deposits, it is unlikely that there will be material production prior
to the 5 year anniversary of entering the NPA or SPA SMJV’s. Detailed scheduling is underway on these deposits as part of
TCMG’s ongoing development activities.
Emmerson is in no way liable for any of the capital or operating costs of mining and production, however in accordance with the
JORC code and ASX listing rules, for an Ore Reserve to be announced financial outcomes need to be included. Chariot, Mauretania
and Black Snake form a portion of the overall TCMG gold project. The study completed by TCMG, outlines a project that produces
~138,612oz from Probable Ore Reserves, which Chariot, Mauretania and Black Snake form a portion, and results in the following
high level financial outcomes: