Part of the MNG Group founded by Mehmet Nazif Günal in the 1970’s

• The MNG Group now employs more than 20,000 people and has over 70 trading companies with interests including Construction, Railways, Tourism, Energy production, Media and Finance and Air Cargo

Avesoro Holdings

• Privately-owned gold production, development and exploration company focused on West Africa and Turkey, established in 2013 by Mehmet Nazif Günal, founder and owner of the MNG Group
• US$200 million spent to date including 4 acquisitions
• Three operating mines with 2018 production target of 280,000 – 320,000 oz
• Beneficial owner of a controlling stake of 72.9% of the issued capital of TSX & AIM listed Avesoro Resources Inc.
• Strong in-house engineering and construction capability

• Acquired a 72.9% controlling interest in TSX & AIM listed Avesoro Resources Inc. formerly Aureus Mining in 2016
• Avesoro Holdings identified New Liberty Gold Mine as an attractive asset where it could bring its expertise to bear by:
  • Increasing production efficiency
  • Reducing fixed and operating costs
  • Bringing activities in-house
• Mill Capacity 1.4 Mtpa crushed ore
• Conventional gravity and CIL circuit
• High grade open pit Proven and Probable Mineral Reserve estimate of 17 million tonnes grading 2.49 g/t for 1,365,000 contained ounces of gold
• Combined Mineral Reserves of 7.4 Mt with 717 Koz of gold grading 3.0 g/t
• 2019 production target of 100,000 – 110,000 oz
• Average LOM operating cash costs of US$767/oz and all in sustaining cash costs of US$862/oz

• Youga Gold Mine acquired from Endeavour Mining Inc. in February 2016 for US$25.3m
• High grade Balogo deposit acquired from Endeavour Mining Inc. in February 2016 for US$25.3m
• Trucking of ore from Balogo to Youga commenced in March 2017
• Production: 90,000-100,000 oz forecast for 2019
• Combined proven and Probable Mineral Reserves of 14.74Mt containing 814,900 ounces of gold grading 1.72g/t
• Combined Measured and Indicated Mineral Resource of 22.16Mt containing 1,189,100 ounces of gold grading 1.67g/t and Inferred Mineral Resource of 7.6Mt containing 377,000 ounces of gold grading 1.5g/t

• Acquired from Amlib Holdings Plc in April 2014 at PFS stage
• Mine designed, constructed and in operation approximately 2 years after acquisition with production commencing in May 2016
• Three stage primary jaw, rod mill and ball mill
• Ball mills design – 65 tph – 1.3 MW drive
• Mill Capacity 0.75 Mtpa crushed ore
• Conventional gravity circuit with Knelson concentrator
• CIL circuit
• 92 – 95% recovery overall
• TSF – Fully lined and waste rock perimeter walls