Roscan Gold estimates at 27.4 Mt of 1.2 g/t gold Indicated at Kandiole, Mali

Roscan Gold Corp. [ROS-TSXV; RCGCF-OTC] its initial, pit-constrained, interim NI 43-101 compliant mineral resources reported at a gold price of only US$1,500/oz of 27.4 million tonnes grading 1.2 g/t gold totalling 1.02 million ounces of gold in the Indicated category and 5.2 million tonnes grading 1.2 g/t gold totalling 198,000 ounces of gold in the Inferred category at its Kandiole project in Mali, West Africa.

Roscan’s maiden pit constrained Mineral Resource includes gold mineralization from six mineral deposits: Mankouke South, Mankouke Central, Kandiole1, Kandiole 2 and 4, Kabaya and Moussala. The discovery areas of Disse, Walia and Mankouke West were not included in the maiden resource due to lack of sufficient drilling to date but will be areas of upside for future exploration.

The cut-off date for data used in the resource estimate was March 25, 2022. Since March 25, Roscan has continued its drilling campaign to infill and extend the saprolite resource area and to follow up on the deeper mineralization at the Mankouke South and Kandiole targets. Drilling results have encountered plunging zones of mineralization that remain open, which are currently being drilled and assayed.

The robust initial Mineral Resource is at a 0.3 g/t Au (oxide) and 0.42 g/t (fresh) cut-off grade and US$1,500/oz gold price. Indicated Mineral Resources are 27.4Mt at 1.2 g/t gold (1.02 Moz), and Inferred Mineral Resources of 5.2Mt at 1.2 g/t gold (0.20 Moz).

Resource calculation sensitivity at a 0.5g/t Au cut-off and $1500 per ounce gold price results in Indicated Mineral Resources of 20.0Mt at 1.5 g/t gold (923 Koz), and Inferred Mineral Resources of 3.8mt at 1.4 g/t gold (0.18 Moz).

Preliminary pit shells at Mankouke South indicate a low strip-ratio resource that is mostly oxide, with a robust starter pit of between 5.3 million tonnes at 2.2 g/t (386,000 ounces at 0.75 g.t cut-off) and 4.5 million tonnes at 2.6 g/t (377,000 ounces at 1.0 g.t cut-off).

Resource model sensitivities at various gold prices highlight low strip ratios from pit shells ranging from 2.4:1 to 2:7:1. Further potential to improve resource estimates with LeachWELL assay process. Only 18% of current drilling has now been assayed by LeachWELL which thus far has shown substantial improvements with tested area’s lower-grades increasing between 10% and 40 %.

Roscan plans to expand the use of LeachWELL on its existing resource base and to use it extensively for all future drilling. There is further exploration upside with significant potential to increase the size of the MR with both the currently ongoing and future drilling programs.

Nana Sangmuah, President and CEO, stated, “This mineral resource suggests a stand-alone project status for the Kandiole Gold Project. The good metallurgical recoveries, high-grade starter pit, low strip ratios, and the high-quality resource with 84% included in the indicated resource category and 72% within saprolite, points to a potential high-margin LOM operation.

“Importantly, this initial resource is just the beginning for the overall project potential, the mineral resource remains open to further growth with the pending results from our incremental drilling, which remains ongoing. In addition, there are 3 advanced targets and discoveries not yet captured to be included in subsequent updates, such as demonstrated by the drilling success at Walia, Disse and Kandiole North extension.

“Management intends to commence in short order environmental studies to facilitate the permitting and further de-risking project development. We are encouraged by the ultimate scale potential at the Kandiole Project which we believe has significant upside and clearly positions Roscan amongst the few junior resource companies that can transition from early exploration to a significant mining operation.”

Roscan Gold has assembled a significant land position of 100%-owned permits in an area of producing gold mines (including B2 Gold’s Fekola Mine which lies in a contiguous property to the west of Kandiole), and major gold deposits, located both north and south of its Kandiole Project in West Mali.