Table 1. Hard Rock Ore Reserve Statement for Amur Zoloto, Far East Russia, by SRK Consulting (Russia) Limited as of 1 July 2020 (1)

Table 2. Placer Reserve Statement for Amur Zoloto, Far East Russia, by SRK Consulting (Russia) Limited as of 1 July 2020 (1)

Table 3. Hard Rock Mineral Resource Statement for Amur Zoloto, Far East Russia, by SRK Consulting (Russia) Limited as of 1 July 2020 (2)

Table 4. Placer Mineral Resource Statement for Amur Zoloto, Far East Russia, by SRK Consulting (Russia) Limited as of 1 July 2020 (2)

Download the Competent Persons Report on the Mineral Resources and Ore Reserves of Amur Zoloto here (English)

Krasny

Table 5. Mineral Reserve Statement for the Krasny Gold Deposit, Irkutsk Region, Russia, Micon International, February 18, 2018 (3)

Table 6. Mineral Resource Statement for the Krasny License area (inclusive of Mineral reserves), Irkutsk Region, Russia, Micon International, February 18, 2018 (4)

Download the 2018 JORC report of Krasny here (English)

Notes

(1) Notes:

• Ore reserves include losses and dilution values
• Tonnages and metal content have been rounded to the nearest 0.1 Mt, 0.1 t and koz.
• Ore reserves estimation is based on mine schedule
• Perevalnoe complex:

• • Brekchiyevaya Mining loss and dilution: 2.95% / 12.0%
  • Priyatnoe Mining loss and dilution: 12.9% / 44%
  • For open stoping, ore loss and dilution of 2% and 8% were calculated, for cut-and-fill stoping, 5% and 10%, and for pillar recovery, 20% and 25%
  • The Open pit reserves reports material falling into a final pit design above level 1080 m.
  • Gold price: 1,250 $/oz
  • Mining cost: 2.6 $/t
  • Transportation: 2 $/t
  • Processing cost: 12.4 $/t
  • General and Administration: 52 $/t
  • Reserve cut-off grade: HL – 0.5 g/t; OP CIP – 4.0 g/t, UG CIP – 6.0 g/t
  • Recovery: 94% for CIP and 61% for HL

• Malyutka deposit: The Resource statement reports material falling into a final pit design based upon the following assumptions:

• • Mining loss & dilution allowed for in model block regularisation (av. loss 18.8%, dilution 19.4%);
  • Gold price: 1,200 $/oz
  • Ore Mining cost: 2.94 $/t
  • Waste Mining cost (no haul): 2.20 $/t
  • Waste Mining haulage: 0.74 $/t
  • Processing cost: 7.50 $/t
  • General & Administration: 6.40 $/t
  • Recovery: By formula (av. 67,5%)
  • Reserve cut-off grade: 0.74 g/t Au
• Yubileyniy complex:
  • Mining loss and dilution: 3% / 15%
  • Gold price: 1,500 $/oz
  • Mining cost: 16 $/t
  • Transportation: 2 $/t
  • Processing cost: 42 $/t
  • General and Administration: 28 $/t
  • Reserve cut-off grade: 2.7 g/t Au

• Placer deposits
  • Mining loss: zero
  • Gold price: 1,185 $/oz
  • Royalty: 6%
  • Stripping cost: 9 $/m3
  • Gravel mining and washing cost: 9 $/m3
  • General and Administration: 0 $/m3

(2) Notes:

• Mineral Resources presented in Table 3 are inclusive of the Hard rock Ore Reserves shown in Table 1.
• Tonnages and metal content have been rounded to the nearest 0.1 Mt, 0.1 t and koz.
• Perevalnoe complex: Heap leaching cut-off grade of 0.5 g/t; CIP cut-off grade of 3.1 g/t.
• Gold price for Yubileyniy and Perevalnoe – 1,500 $/oz
• The Open pit resource reports material falling into a final pit design above level 1080 m.
• Malyutka deposit: The Resource statement reports material falling into a final pit design based upon the following assumptions:
  • Mining Cost Ore 74 $/t
  • Mining Cost Waste 67 $/t
  • Mining Losses 8%
  • Mining Dilution 4%
  • Ore Processing Fixed Cost 5 $/t
  • G&A 67 $/t
  • Royalty 6%
  • Gold price 1,200 $/oz
  • Silver price 5 $/oz
  • Cut-off grade 40 g/t
  • Silver processing fixed recovery 10%
• Yubileyniy complex: Krasivoe deposit: underground cut-off grade of 2.5 g/t;
• Yubileyniy complex: Ulun deposit: The Resource statement reports material based upon the following assumptions:
  • Gold price 1,500 $/oz
  • Process recovery 87%
  • Processing cost 36 $/t
  • Cut-off grade 3 g/t Au

• Mineral Resources presented are inclusive of Ore Reserves
• Mineral resources are estimated based on the Russian Statutory 5GR inventory reporting

(3) Notes:

• Reserves stated as contained within an economically minable open pit stated above a 0.4 g/t Au cut-off;
• Pit optimization is based upon an assumed gold price of $1,250/oz, metallurgical recovery of 77.5% for oxide ore, 87.8% for transition ore and 88.5% for primary ore. The open-pit slope angle is between 40 and 52 degrees for different directions. The operating cost values are $1.38/t for waste mining, $1.82/t for ore mining, $6.95/t for ore processing, and G&A costs are $5.54/t at fixed 60 Rub/USD exchange rate;
• Mining losses – 5%, ore dilution – 10%.
• Mineral resource tonnage and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding;

(4) Notes:

• Mineral Resources are not Ore Reserves and do not have demonstrated economic viability.  There is no certainty that all or any part of the Mineral Resources estimated will be converted into Ore Reserves estimate;
• Resources stated as contained within a potentially economically minable open pit stated above a 0.4 g/t Au cut-off;
• Pit optimization is based upon an assumed gold price of $1,250/oz, metallurgical recovery of 77.5% for oxide ore, 87.8% for transition ore and 88.5% for primary ore. The open-pit slope angle is between 40 and 52 degrees for different directions. The operating cost values are $1.38/t for waste mining, $1.82/t for ore mining, $6.95/t for processing, and G&A costs are $5.54/t;
• Mineral resource tonnage and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding;
• Mineral resources presented in Table 6 are inclusive of the reserves shown in Table 5.