Nejo Copper-Gold Project (Ethiopia)

Exploration Snapshot

  • 100% owned, advanced-stage brownfields, high-grade gold and copper project in Central Western Ethiopia.
  • Tier-1 geological setting spanning 1,174 km²on the Arabian-Nubian Shield.
  • Located on the same greenstone belt as the 3.4 Moz Kurmuk Mine and surrounding the 1.7 Moz Tulu Kapi Mine.
  • District-scale landholding located on one of the last underexplored mineral-rich frontier belts hosting multiple large-scale gold and copper deposits.
  • 10 high-priority drill targets already delineated.
  • Planned ~5,000m first-phase diamond drilling program.

Strategy: Fast-track Nejo towards a maiden JORC (2012) Mineral Resource Estimate through focused, high-impact drilling across drill-ready targets.

High-Grade Gold Results from Key Targets (historical data):

  • Dina: 7.1m @ 30.3g/t Au in a diamond drill hole at a depth of 69.6 metres1 – no follow up drilling since 2011

  • Soyoma: 14.2m @ 8.18g/t Au including 2m @ 42.6g/t Au in a surface trench2 – never been trenched or drill tested further

  • Guji: 44m @ 1.7g/t Au in an RC drill hole as well as 10m @ 2.85g/t Au and 10.3m @2.23g/t Au, including 2.3m @ 6.24g/t Au and 10m @ 2.26g/t Au in diamond drill holes with visible gold observed

  • Kobera: 5.8m @ 8.0g/t Au4 in a surface trench – minimal trench testing completed with no drilling and no follow up

  • Komto 1 & 2: 7m @ 7.27 g/t Au in a surface trench5 – never been trenched or drill tested further

  • Yubdo West: 16m @ 3.49g/t Au including 5m @ 5.8g/t Au as well as 8m @ 1.21g/t Au in RC drill holes – no follow up drilling since 2013

Cautionary Statement: The visible gold is preserved as up to ~0.5mm sized grains within a ~20cm wide, grey-white, drusy quartz veinlet filled by fine-grained disseminated to semi-massive pyrite/marcasite crystals. Typical surface outcrop consists of quartz veining and iron oxide alteration in meta-sandstone. Please note that the observation of visible gold in a drill hole is not an indication of grade and can not be taken as a substitute for laboratory assay results. As this hole was drilled in 2011, Askari Metals has not independently validated these estimates and therefore is not to be regarded as reporting, adopting or endorsing the estimates.