Sedimentary-hosted disseminated gold type - Sihayo-Pungkut

https://www.sihayogold.com

Regional Geology

The Sihayo-Pungkut CoW is located in the Barisan Mountains of North Sumatra Province on the
island of Sumatra and at the western end of the +7,000 km long Sunda-Banda magmatic arc.

The dextral-transcurrent Trans-Sumatran Fault Zone (TSFZ), running for the entire length of
Sumatra along the Barisan mountain range, was formed by the oblique subduction of the Indo-
Australian oceanic plate beneath the Eurasian continental plate in the Sumatran segment of the
Sunda-Banda arc commencing in the Neogene period (mid-late Tertiary). The TSFZ is a focus
for major regional faulting (thrust and strike-slip), uplift and erosion, pull-apart basin
development and sedimentation, volcanism and geothermal activity in Sumatra.

Regional Exploration

The CoW area is deemed to be highly prospective for mineralisation. In addition to the Sihayo
project, there are over twenty (20) identified prospects of carbonate-hosted gold, low to
intermediate - sulphidation epithermal-vein gold, gold-copper skarn, copper-gold porphyry and
lead zinc skarn style mineralisation across the CoW area. The Company is committed to
advancing these regional prospects including at the Hutabargot exploration target an epithermal
style prospect located within 10km of the Sihayo project.

Sihayo Pungkut CoW key exploration prospects

Sihayo, and the neighbouring smaller Sambung gold deposit, are located at the northwest end of
the 11.5km-long Sihayo - Hutabargot mineralised trend and directly adjacent to a major
dilational pull apart basin (~100km long, ~12km wide and ~1km deep) that is controlled by the
TSFZ.

The Sihayo gold belt is a +15-km long northwest-southeast trending corridor of Permian
calcareous volcano-sedimentary rocks and associated intrusions which are prospective for
replacement-style carbonate-hosted gold, epithermal gold veins and porphyry-related gold and
copper mineralisation. The Sihayo gold belt is located on fault-strands from an extensional
dextral jog in the Trans Sumatran Fault Zone (“TSFZ”).
CoW northern block mineral trends

Sihayo Pungkut CoW

Sihayo is located in Mandailing Natal, North Sumatra, Indonesia. This coincides with the
geologically prolific Trans Sumatra Fault Zone (“TSFZ”) and the associated Neogene Magmatic
Arc, which is the result of an oblique collision of two tectonic plates and associated subduction.
The TSFZ hosts a number of significant gold projects including the Martabe project located
approximately 50 kilometres northwest of the CoW.

The Sihayo Pungkut JV 7th generation COW was issued to PTSM on 19 February 1998. The
initial COW covered an area of 201,600 ha. Two partial relinquishments in 1999 and 2000
resulted in a reduction down to the current area of 66,200 ha. The COW was converted into
operation production phase on 7 December 2017, which runs until 6 October 2049. At the end of
this phase, Sorikmas has the right to two 10-year extensions under prevailing Indonesian mining
law.
Sihayo Gold Project (75% interest)

The Sihayo deposit occurs at the top of a hill on the edge of a major dilational pull apart basin.
The Sihayo deposit is situated within a sedimentary package consisting of Permian aged
calcareous sediments and volcaniclastics, which are unconformably overlain by shallow basin
origin Tertiary sandstones and siltstones. The Sihayo deposit gold mineralisation is categorised
as Sedimentary Rock Hosted Disseminated Gold Deposit type.
There is potential to discover additional replacement-style, carbonate-hosted gold resources
within a 5km radius of the Sihayo 1 resource. Multiple prospects have been identified within
this radius but have received very limited follow-up. The prime exploration targets are prospects
identified by historic work along two mineralised trends, Sihayo-Hutabargot and Sihayo 3-4-5,
which comprise the Sihayo gold belt. The Sihayo gold belt is a +15-km long northwest-southeast
trending corridor of Permian calcareous volcano-sedimentary rocks and associated intrusions
which are prospective for replacement-style carbonate-hosted gold, epithermal gold veins and
porphyry-related gold and copper mineralisation. The Sihayo gold belt is located on fault-strands
from an extensional dextral jog in the Trans Sumatran Fault Zone (“TSFZ”).
Resources and Reserves

JORC 2012 compliant updated Mineral Resource and Ore Reserves estimates were released to
the ASX on 23 June 2020. Key assumptions, data sources and data reliability/quality information
relating to the resource can be found in the appendices to the release.

Mineral Resources (by ore type)

 Figures may not sum due to rounding and significant figures do not imply an added level
of precision
 Reported at a cut-off grade of 0.6 g/t for gold
 Oxide<=1.50gm/cc, transition>=1.51<=2.50gm/cc and Fresh>=2.51gm/cc
 Numbers for the Sambung deposit are local mine depleted
 Refer to 23 June 2020 ASX release titled Sihayo Gold Project Definitive Feasibility
Study for updated resource statement including JORC Table 1
 Figures may not sum due to rounding and significant figures do not imply an added level
of precision
 The Ore Reserve is based conventional open pit mining
 A Net Smelter Revenue (NSR) cut off was calculated using:
 A gold price of US$1,450/oz
 Royalty of 3.75% of recovered gold value
 Tonne weighted average metallurgical recovery of 71%
 Refer to 23 June 2020 ASX release titled Sihayo Gold Project Definitive Feasibility
Study for updated reserve statement including JORC Table 1