In case anyone missed it...19 January 2023Over Three Moz Mineral...

In case anyone missed it...

19 January 2023

Over Three Moz Mineral Resource at Syama North

34 million tonnes @ 2.9 g/t Au for 3.18 million ounces

Highlights

• The updated Mineral Resource Estimate for Syama North increases 58% to three million ounces of gold at a cut-off grade of 1g/t Au
• Mineral Resource now totals 34 million tonnes at 2.9g/t Au for 3.18 million ounces
• Exploration drilling from Syama North returning excellent intersections from infill and extensional drilling was undertaken continuing from previous results announced in August 2022.
• The 'wide zone' of gold mineralisation initially discovered and reported in August 2022 was substantiated and increased by drilling in late 2022 with excellent intersections seen in QVRD603, QVRD604, QVRD609 and QVRD610
• The Syama North gold deposit remains open down-dip over the entire 6km strike length with drilling to continue throughout 2023 with the expectation of further increases in the Mineral Resource
• The majority of the Mineral Resource is located within 150m of the surface highlighting the open pit potential of the deposit
• Engineering studies are underway to assess the economics of the gold deposit

Resolute's Chief Executive Officer, Mr Terry Holohan, commented:

"The infill drilling program at Syama over the second half of 2022 has exceeded our expectations and the drill rigs are still turning on this contiguous strike discovery of over 6km. We now have 1.86 Moz in the Measured and Indicated categories for 19Mt at 3 g/t gold at a 1 g/t gold cut-off. This mineralisation is close to the surface and adjacent to the areas we are currently mining.

"Our previously mentioned 'low-Capex enhancement' PFS study, due for publication in Q2 2023, will initially focus on the wide zone within the A21 pit discovered in August 2022. This is a result of the recent grid drilling, which demonstrates the presence of a substantial block of mineralisation which should have a lower strip ratio than initially thought. It also remains open below the 150m depth limit drilled so far.

"Our end of year Mineral Resource and Ore Reserve estimates will be published in February 2023, incorporating these significant additions to our business. I am extremely proud of the achievements of our exploration team and the ongoing success at Syama. Significant discoveries such as this clearly demonstrate that the Syama Belt is surprisingly under-explored and justifies the need for further systematic exploration work to be undertaken along the >85 km of strike."