Bilboes Project

Large high-grade gold deposit comprising the Isabella North, Isabella South, McCays, and Bubi open pits. Located approximately 75 km north of Bulawayo, Matabeleland North, accessed via public roads. Property comprises 131 claim blocks covering 3,114.7 ha. Archaean lode structurally controlled deposits consisting of silicified stock-works and veins. Acquired in January 2023 for 5.1 million shares and a 1% NSR. October 2025 Feasibility Study outlines a single-phase development producing ~200 koz Au in its first full year with a 10.8-year LOM, initial capex funded by a US$150M convertible note. First production anticipated in late 2028.