Can you give us a brief overview of your company and what makes FMBR portfolio of projects compelling?

African Gold is advancing the Didievi Gold Project in Côte d’Ivoire, anchored by the Blaffo Guetto Mineral Resource of ~989 koz within 12.4 Mt at 2.5 g/t Au (0.8 g/t cut-off). The appeal lies in the combination of grade, near-surface geometry, and district-scale upside across multiple targets within trucking distance of established infrastructure; ongoing drilling is designed to grow both scale and confidence. We are also progressing the early-stage Konahiri project in Côte d’Ivoire. With the support of our largest investor, Montage Gold, we have the capacity to advance two high-quality targets in parallel.

What recent discovery or result has you most excited?

The standout is the Blaffo Guetto Mineral Resource at ~989 koz from surface. On the back of this, the >40,000-metre drill program is set to drive resource growth and deliver a steady cadence of results and market catalysts in the coming quarters.

What is your technical strategy, what work have you completed so far, and what are the key programs planned for the next 12-18 months?

So far: Didievi has 10 drill ready targets including the 989koz resource, there is two diamond drill rigs on Blaffo Guetto with two RC rigs coming in November to target the regional opportunities on the tenement.
Strategy: Systematic step-outs along strike and at depth at Blaffo Guetto, then first-pass and follow-up drilling on priority regional targets such as Pranoi and the Poku 
Trend: continue structural interpretation to refine targeting; progress study work to frame development options.
Next 12–18 months: Resource growth drilling, targeted RC programs on regional prospects, ongoing technical workstreams, and a scoped pathway into studies, with regular market updates as assays are received and milestones achieved.

Looking ahead, what’s the single most important milestone investors should watch for, and how does achieving it move you closer to your strategic endgame – whether that’s production, JV partnership, or acquisition?

The next Mineral Resource update at Didievi, including potential additions from regional targets, is the key milestone. Increased scale, continuity and classification upgrades are the clearest de-risking steps; they underpin the Scoping Study, keep development or partnership options open, and clarify capital intensity and potential production scenarios.

What is your current market cap and do you feel it is an accurate reflection of your company and why?

As of 5 October 2025, African Gold’s market capitalisation is approximately A$220 million. While the share price has grown over the past 12 months, we believe the market is only beginning to price in study and resource upside, strategic backing, and the potential to accelerate toward a production scenario. It likely does not yet reflect the district-scale opportunity. Delivering the next resource update, consistent drilling results, and clear study milestones should help close that gap.

FIRST PUBLISHED IN THE DIGITAL MINING PULSE ISSUE 3 I December 2025