Toronto, Ontario--(Newsfile Corp. - March 10, 2025) - Roscan Gold Corporation (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) ("Roscan" or the "Company") welcomes the announcement by the Government of Mali regarding the partial lifting of the suspension on processing applications related to mining titles. This decision represents a significant milestone for the country's mining sector and a major de-risking event for Roscan's Kandiole Gold Project.
The Malian Ministry of Mines has confirmed that, effective March 15, 2025, the Mining Administration will resume processing applications for the renewal of research and exploitation permits, as well as applications related to the transition from the research phase to exploitation. Additionally, requests for the direct or indirect transfer of exploitation permits will also be considered. This follows extensive efforts to streamline and enhance governance within Mali's mining sector.
Roscan Gold views this development as a pivotal step that supports the continued advancement of its Kandiole Gold Project, where the Company has delineated an indicated Mineral Resource Estimate ("MRE") of 27.4 million tonnes at 1.2 g/t gold for 1.02 million ounces and an inferred MRE of 5.2 million tonnes at 1.2 g/t gold for 0.20 million ounces. These estimates were reported using a cut-off grade of 0.3 g/t gold (oxide) and 0.42 g/t gold (fresh) at a gold price of $1,500 per ounce.
In addition to this resource base, Roscan has identified an exploration target(1) 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 extensive positive exploration results outside the MRE areas.
"This announcement provides much-needed clarity and stability for the mining industry in Mali, and we appreciate the government's commitment to strengthening the sector's governance," said Nana Sangmuah, President and CEO of Roscan Gold. "I have spent significant time in Mali in the last several months meeting with senior government officials and this step forward represents a significant de-risking of our Kandiole Project. This reinforces our confidence in the project's potential and the positive upward trajectory of Mali's mining sector and the opportunities ahead for Roscan."
Roscan Gold remains committed to working collaboratively with the Malian government and stakeholders to advance its exploration and development activities while creating value for all stakeholders.
Qualified Person Pascal van Osta, P. Geo., Vice President of Exploration for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.
About Roscan Roscan Gold Corporation is a Canadian gold exploration company focused on the exploration and acquisition of gold properties in West Africa. The Company 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.
For further information, please contact:
Nana Sangmuah President & CEO Tel: (416) 900-1412 Email: info@Roscan.ca
Forward-Looking Statements This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "significant", "substantial", "positive trajectory", "exploration success", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. "Exploration Target" as a range of quantities and grades are conceptual in nature and there has not been sufficient exploration to define a mineral resource. It is uncertain if future exploration will result in the target being delineated as a mineral resource. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
(1) The disclosure of the aforementioned "Exploration Target" as a range of quantities and grades are conceptual in nature and there has not been sufficient exploration to define a mineral resource. It is uncertain if future exploration will result in the target being delineated as a mineral resource.
