From BSR ann 9 July 20189 July 2018MAKABINGUI GOLD PROJECTAND...

From BSR ann 9 July 2018

9 July 2018

MAKABINGUI GOLD PROJECTAND KONKOUTOU DRILLINGThe Directors are pleased to report on the advancement of the Makabingui Gold Project and Bassari’s drilling program at Konkoutou North on the Moura permit.As required by the Senegal Mining Code, a new development company, Makabingui Gold Operations SA (MGO) was incorporated. The seven person Board of Directors is comprised of four Bassari appointees, one joint venture partner appointee, and oneappointee each from the Senegal Mines & Geology Department and from Senegal’s Finance and EconomicsDepartment.Coris International Bank (Coris) have confirmed the loan agreement and now await the Presidential Decree to complete all legal matters relating to the loan funding

and from todays ann

The Directors are pleased to announcethePresident of the Republic of Senegal has signed the Presidential Decree to transfer the Makabingui Gold Exploitation title to Bassari’s subsidiary, Makabingui Gold Operation SA (MGO). The transfer of the title to MGO is a requirement of the Coris International Bank (Coris) funding package, being the principal securityfor Coris for the project funding

We have now fulfilled the requirements needed by the Coris Bank, imo we now have the funding completed.