Ann: Intrusions Hosting Mineralised Sulphides, page-9

Some recent news about Kabanga that we adjoin/neighbor -
"27 October, 2021, Kabanga Nickel Limited (“Kabanga Nickel”) is pleased to
announce that Tembo Nickel Corporation Limited, the local partnership with the Government of
the United Republic of Tanzania, has been issued a Special Mining Licence (“SML”) for the
Kabanga Nickel Project (“the Project”). The granting of the SML follows the signing of the
Framework Agreement in January 2021 and is valid for the full life of the project (currently in
excess of 30 years).
Kabanga will now accelerate the development of the project, which is globally one of the largest
unexploited deposits of nickel sulphide, a crucial mineral in the development and manufacture
of batteries used in electric vehicles.
Tembo Nickel Corporation (“Tembo”) is an operating company formed via the Framework
Agreement (19 January 2021) between Kabanga Nickel Limited and the Government of Tanzania
for development of the Kabanga nickel deposits in the Ngara District in the Northwest of
Tanzania. (Tembo is the Swahili word for elephant and represents strength and cooperation.)
Under the Framework Agreement terms, Tembo (owned 84% by Kabanga Nickel Limited and 16%
by the Government of Tanzania) has been formally established for the mining, processing and
refining of Class 1 nickel with cobalt and copper co-products. In accordance with the Framework
Agreement, a Special Mining Licence and a Refinery Licence will be granted to Tembo by the
Government of Tanzania and it has been agreed that economic benefits from the development
of the project will be equitably shared between the two shareholders."