This website contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities legislation, concerning the business, operations and financial performance and condition of the Company.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may constitute forward-looking statements. Forward-looking statements contained in this presentation include statements with respect to: expectations regarding the potential mineralization and geological merits of the Company’s projects, including the Kalana Project and the Fougadian Project; the Company’s goals regarding development of the Kalana Project and regarding raising capital and conducting further exploration and development of its projects; the Company’s proposed plans for advancing its projects, including drilling and other exploration work; expectations regarding the continuity of mineral deposits, including in relation to adjacent or other properties (including producing or past-producing properties) that are in the vicinity or same region as the Company’s projects; expectations regarding any environmental issues that may affect planned or future exploitation and exploration programs; mineral exploitation and exploration program cost estimates; statements with respect to the future price of gold and other metals; timing and completion of geological studies and reports; receipt and timing of the Kalana Project exploitation permits and other third party approvals; and government regulation of mineral exploration and development operations in Mali. Estimates of mineral resources and mineral reserves may also constitute forward-looking statements and information in that they represent estimates of mineralization that may be encountered if mining is commenced, and/or economic viability of such mineralization.

Forward-looking statements and forward-looking information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements or forward-looking information, including but not limited to: (i) political developments in Mali, whether generally or in respect of the mining industry specifically, which may not be consistent with the Company’s current expectations, (ii) the Company’s expectations in connection with the projects, exploration programs and development plans discussed herein being met, (iii) the ability to develop the Kalana Project on a basis consistent with the Company’s current expectations, (iv) changes in project parameters as the Kalana Project continues to be advanced, (v) changes in project development, construction, production and commissioning time frames, (vi) the possibility of project cost overruns or unanticipated costs and expenses, (vii) unanticipated results of future studies, (viii) costs and timing of the development of new deposits, (ix) success of exploration and drilling activities, (x) risks and uncertainties relating to the interpretation of drill results and other exploration data, and the geology, grade and continuity of mineral deposits, (xi) the possibility that future exploration results will not be consistent with the Company’s expectations, (xii) risks related to metallurgical characteristics of mineralization contained within the Company’s properties which may not be fully determined, (xiii) potential delays in completion of geological reports (including preliminary economic assessments, pre-feasibility and feasibility studies), or that the contents of geological reports will not be consistent with the Company’s expectations, (xiv) permitting time lines, (xv) government regulation and the risk of government expropriation or nationalization of mining operations, (xvi) unanticipated environmental risks, (xvii) the continued employment of key employees, and (xviii) the factors discussed in the section entitled “Cautionary Statement Regarding Forward-Looking Statements” in the Company’s annual information form which is available under the Company’s profile on the SEDAR website at

These forward-looking statements are based on certain assumptions which the Company believes are reasonable, including that: all necessary government and third party permits, approvals and licenses necessary for the planned exploration and development of the Company’s mineral projects will be obtained in a timely manner and on terms acceptable to the Company; key management and directors will continue to be retained by the Company; any proposed future development of the Company’s mineral projects will be viable operationally and economically and proceed as expected; and the other assumptions listed in the section entitled “Cautionary Statement Regarding Forward-Looking Statements” in the Company’s annual information form which is available under the Company’s profile on the SEDAR website at Assumptions relating to the potential mineralization on the Company’s Kalana Project are discussed in the most recent technical reports in respect thereof which are available under the Company’s profile on the SEDAR website at There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update any of the forward-looking statements or forward-looking information in this presentation, except as required by applicable law.

Disclosure of Mineral Reserves and Mineral Resources:

Information concerning the properties and operations of the Company has been prepared in accordance with Canadian standards under applicable Canadian securities laws. National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) of the Canadian Securities Administrators requires that each category of mineral reserves and mineral resources be reported separately. Please refer to the Company’s annual information form and other continuous disclosure documents available at, for this detailed information, which is subject to the qualifications and notes set forth therein.

Qualified Person:

Information on this website regarding the Kalana Gold Project and exploration activties is provided by Avnel Gold management under the supervision of Dr. Olivier Féménias, Vice President Geology, Mr. Roy Meade, President of the Company,whom are both non-independent “Qualified Persons” as such term is defined in National Instrument 43-101. Portions of the information are based on assumptions, qualifications and procedures which are not fully described herein.

Cautionary Note to U.S. Readers Concerning Mineral Reserve and Resource Estimates:

This website uses the terms “Mineral Resource”, “Inferred Mineral Resource”, and “Probable Mineral Reserves”, Canadian mining terms as defined in accordance with NI 43-101 under guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Standards on Mineral Resources and Mineral Reserves adopted by the CIM Council. While the use of such terms is recognized and required by Canadian regulators, the United States Securities and Exchange Commission does not recognize such terms. For further information, refer to the Company’s website at

All dollar amounts are in US dollars, unless otherwise indicated. References to “$C” are to Canadian dollars.