Mali Lifts Mining Title Suspension, Boosting Roscan Gold's Prospects

Roscan Gold Corporation has announced its strong approval of the Malian government's decision to partially lift the suspension on processing applications related to mining titles. This pivotal development, effective March 15, 2025, is seen as a significant de-risking event for Roscan's flagship Kandiole Gold Project and a major step forward for Mali's mining industry.

Key Takeaways

• Mali's government has partially lifted the suspension on mining title applications, effective March 15, 2025.
• This decision allows for the processing of renewals, transitions from research to exploitation, and transfers of permits.
• Roscan Gold's Kandiole Gold Project is significantly de-risked by this development.
• The move underscores Mali's commitment to enhancing governance and stability within its mining sector.

Renewed Activity in Mali's Mining Sector

The Malian Ministry of Mines confirmed that, starting March 15, 2025, the Mining Administration will resume processing various applications. These include requests for the renewal of research and exploitation permits, applications for transitioning from the research phase to exploitation, and requests for the direct or indirect transfer of exploitation permits. This follows extensive efforts by the government to streamline and improve governance within the nation's vital mining sector.

Positive Outlook for Roscan Gold's Kandiole Project

Roscan Gold views this announcement as a crucial step supporting the continued advancement of its Kandiole Gold Project. The company has already delineated a substantial Mineral Resource Estimate (MRE) at Kandiole, comprising an indicated resource of 27.4 million tonnes at 1.2 g/t gold for 1.02 million ounces, and an inferred resource of 5.2 million tonnes at 1.2 g/t gold for 0.20 million ounces. These estimates were based on cut-off grades of 0.3 g/t gold (oxide) and 0.42 g/t gold (fresh) at a gold price of $1,500 per ounce. Additionally, Roscan has identified an exploration target for potential MRE growth, estimated between 8Mt at 1.0 g/t Au and 30Mt at 0.8 g/t Au within the MRE areas, alongside promising exploration results outside these zones.

Leadership's Confidence and Commitment

Nana Sangmuah, President and CEO of Roscan Gold, expressed his appreciation for the government's commitment to strengthening the sector's governance. "This announcement provides much-needed clarity and stability for the mining industry in Mali," Sangmuah stated. He highlighted his recent engagements with senior government officials in Mali, emphasizing that this step represents a significant de-risking of the Kandiole Project. Sangmuah further reinforced the company's confidence in the project's potential and the positive trajectory of Mali's mining sector, foreseeing future opportunities for Roscan. The company remains dedicated to collaborating with the Malian government and stakeholders to advance its activities and create value for all parties involved.

Sources

• Roscan Gold Welcomes Partial Lifting of Mining Title Suspension in Mali, Junior Mining Network.