#1NATURAL INSTINCTS SIMTA S AFRICAN LION GOLD plc Corporate Presentation May 2022 Chifunde Gold Project Tete Province, Mozambique#22 Cautionary Statement The content of this presentation have not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 ("the Act"). Reliance on this presentation for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all of the property or other assets invested or of incurring additional liability. Any individual who is in doubt about the investment to which this presentation relates should consult an authorised person who specialises in advising on the acquisition of unlisted shares. This presentation has been issued by African Lion Gold plc (the "Company") in connection with the proposed placing of ordinary shares by the Company (the "Ordinary Shares"). 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AFRICAN LION GOLD plc#3Experienced Board & Management COBUS VAN WYK President & Chairman FRANCO JORDAAN CEO/CFO, Director DIRK MUNTINGH Technical Director ROBERT SCHAFER Non-Executive Director PHILIP RICHARDS Non-Executive Director KYLE LUSTED Head of Geological Department PAULO CINTRA Mining Engineer BENTO MUXLHANGA Senior Geologist AFRICAN LION GOLD plc 3#4Capitalisation Structure UK company raising £3,0 million at a pre-money value of £9,67 million (£0.14/share) Post-Placement Shares Issued Options Warrants Outstanding Debt Outstanding Valuation Placing Price per share 1% to 5% (9); 18,9% CGWL Nominees Limted; 5,1% Milo Investments Limited; 5,3% Mark Denning; 5,4% Below 1% (20); 4,4% Placement 21 428 571 90 649 265 0 £ 711 237 0 £ 711 237 £ 9 690 897 £ 12 690 897 £ 0,14 £ 0,14 Vericor Holdings Limited; 32,6% 40% Cobus van Wyk 40% Franco Jordaan RAB Capital; 11,8% Regius Resources Group; 16,5% AFRICAN LIONS GOLD plc 4#55 Mozambique Focus GOVERNMENT ✓ Politically stable ✓ Multi-party democracy ✓ Resilient GDP growth (post Covid-19) currently estimated at 4.2% in 2022 and 6% in 2023 (1) ✓ Mozambican Mineral Resources governed by Mining Law 2014 (2) ✓ 6% Production Tax (2) ✓ Mining concessions valid for 25 years and can be extended for a further 25 years REPUBLICA DE MOÇAMBIQUE (2) INVESTMENT ✓ Economic growth rate of 6%-8% in decade leading up to 2015, one of Africa's strongest performances (3) ✓ Multi-billion-dollar investments in resource discoveries (9) ✓ Projected US$ 55 billion LNG investment equivalent to 4 times GDP (9) US$ 9.957 billion of IBRD/IDA commitments (8) Significant resource discoveries: Gold, Graphite, Rubies, Coal, Heavy Mineral Sands, Titanium, Tantalite, Vanadium, Iron Ore, Marble, Kaolin, Copper, Natural Gas (5) (6) (7) INFRASTRUCTURE ✓ 7 ports creating entry & exit points for inland neighbours (4) ✓ Multiple international airports (3) ✓ Over 30,000 km road network (3) ✓ Over 4,787 km of rail systems (3) AFRICAN LIONS GOLD plc (2) SAL & CALDEIRA ADVOGADOS, LIMITADA - Legal Framework for Mining Activities, October 2021#6Chifunde Project at a Glance 60 km from Kamudzu International ZAIRE Airport - Lilongwe LOCATION & 220 km from Chingozi International Airport - Tete SIZE 170 km² 80% ALG; 20% Mozambique OWNERSHIP ZAMBIA STATUS WORK COMPLETED EXPLORATION TARGET POSITIVE DRILL RESULTS DEPOSIT TYPE Partner Mining Concession granted 14 September 2021 Geophysics; 7,190 m of Diamond and RC Drilling; Soil Sampling Program; CPR by SRK 2022 220,540 - 1,369,600 oz Gold High-grade intersections of 5.00 - 38.00 g/t Au and wide lower-grade halo Shears in Thermal Aureole Gold (TAG) Setting ZIMBABWE BOTSWANA Chicualacuala SOUTH AFRICA TANZANIA Augusto Cardoso NIASSA Lichinga MALAWI Catur Fingoe TETE Songo Furancungo Vila Moatize ●Milange • Tete Cuamba Mueda CABO DELGADO Marrupal Montepuez 6 Pemba Nacala NAMPULA Lumbo Moçam Nampula Alto Molócuè ZAMBEZIA Vila de Mocuba Changara MOZAMBIQUE Vila de Sene MANICA Catandica Gorongosa Inhaminga Chimoio SOFALA Dombe Espungabera GAZA Massingin Chokwé Vila de Dondo Beira Nova Mambone Inhassoro INHAMBANE MAPUTO Xai-Xai Manhiça MAPUTO Vilanculos Inhambane Inharrime Quelimane Pebane Angoche Mozambique chanel AFRICAN LIONS GOLD plc#7Project Infrastructure Core Shed ALG Site Office Ablution Block Kitchen & Mess Area Camp is fully fenced off and has a fire-break around the perimeter ALG Staff Camp Workshop & Storage Major Drilling Camp Guard House AFRICAN LIONS GOLD plc 7#8TAG Model - Predictive Tool for Gold Mineralisation 3 Chifunde Gold Project ~5km 8 Key structural zones Country rocks Thermal aureole Granitoid intrusions Gold deposit settings Look for: Thermal Aureole of Granite 1. Fort Knox 2. Vasilkovskoye 3. Pogo 4. Muruntau 5. Granites-Tanami 6. Telfer, Obuasi; Sukhoi Log *From TAG: Thermal Aureole (pluton-related) Gold Systems (presented by Greg Hall, 2021) (After V. J. Wall) Intersecting Structures Favourable Host Rock AFRICAN LIONS GOLD plc#9Empty#1017 Additional Prospects Identified Across the Concession No. of Structural Intersections 2 3 56 8 4 7 TAG Model Parameters Applied: Structural Intersections ➤ Within Amphibolites ➤ Near Granite Contact Zones N E Messengereze Copper Hill Chatsunda AFRICAN LIONS GOLD plc 10#11High-Grade Channel Samples Channel Sample No.* Classification Average Grade (g/t) Width of Structure (m) Approximate Depth Below Surface (m) 1 2 3 4 5 E-W Structure Thrust Fault Thrust Fault Thrust Fault Quartz Vein 33.1 45.4 80.3 124.5 0.35 3.55 40 1.18 0.41 0.72 0.46 60 60 110 2 *Channel sample 1 results obtained from SGS Randfontein. Assay results for Channel samples 2-4 obtained from ALS Laboratories. Average grade of 124.5 g/t across 0.72 m wide sheeted translucent quartz package • . High-grade, Structurally Controlled, Shear-hosted Gold Mineralisation Confirmed Both Steep and Shallow-dipping Structures Association with Intersecting Structures Recognised Mineralisation in Volcaniclastic Host Rocks Carbonate Alteration & Silicification AFRICAN LIONS GOLD plc 11#12Messengereze Cross-Section SE A -1018m CHDD039 -990m CHODAR -980m -970m CHRCD13 CHOD0013 CERC011 CHODODY MODNING -960m 2m @ 3.71 g/t Au -950m -940m -930m .920m -910m -900m -890m River N/S Shear Legend: 0 Drill Hole CHOO01Z CHO0020 GO 5m @ 1.63 g/t Au Main Structures Cross-section A - A' Orebody Intersection Vumba E/W Shear 5m @ 1.90 g/t Au 4m @ 3.45 g/t Au 4m @ 1.55 g/t Au 2m @ 4.21 g/t Au 8m @ 1.50 g/t Au 15m @ 2.35 g/t Au CHDD012 CHRCD10 CHACOO9 CHACO CHDDO 2m @ 1.08 g/t Au Makusa Thrust Village N/S Shear Bridge E/W Shear CHD0002 CHDD019 11m @ 2.06 g/t Au 7000 12 A' NW CHDD018 Makusa Thrust 340 m 0 62,5 125 250 375 500 Mapini NW/SE Shear N W E S Meters AFRICAN LIONS GOLD plc#13Chatsunda 3-D Model - Looking West Upper Chatsunda Thrust +8434800 N +8434900 N CHROSL CHRC4CHRC013 CHRC RED025 CHODOZ CHD0021 CHRC003 CHRC001 CHRCO 2 CHOOROPE Grade Shells CH006 Lower Chatsunda Thrust Blue-sky depth and strike extensions 850 m 330-m 13 AU_AA continuous 2 Detail LOWER THRUST N-S STRUCTURE UPPER THRUST 1.5 1 0.5 0.01 80 0 62,5 125 250 375 500 Meters AFRICAN LIONS GOLD plc N W E S#14זיייייי • . • Discrete High-grade with Lower-grade Halo W CHRC013 CHRC014 N/S Shear Zone CHRC015 CHRC016 0 10 20 30 CHRC007 0 10 3m @ 10.15 g/t Au 20 5m @ 4.23 g/t Au 30 15m @ 2.35 g/t Au 40 1m @ 2.31 g/t Au 40 50 Amphibolite schist, 4m @ 1.00 g/t Au 2m @ 1.40 g/t Au 50 60 lava and tuff Thrust 60 70 80 90 100 70 2m @ 1.16 g/t Au 80 15m @ 0.56 g/t Au 90 110 Old German Stopes 1m @ 1.20 g/t Au 100 120 130 140 Agglomerate and Lapillistone 2m @ 16.05 g/t Au 110. 120 1m @ 23.00 g/t Au 130 150 18m @ 1.69 g/t Au 2m @ 1.16 g/t Au 140 160 170 150 Amphibolite schist, lava and tuff CHRC008 2m @ 8.46 g/t Au 2m @ 1.25 g/t Au 1m @ 3.01 g/t Au 11m @ 2.05 g/t Au 2m @ 1.43 g/t Au Agglomerate and Lapillistone, 14 14 S CHRC009 Chatsunda Prospect Highest grade across 1 m of 23.00 g/t Au Grades sit between thrust zones Grade halo of up to 80 m @ 0.45 g/t Au Primary Target for 6,100 m of Resource Drilling . Messengereze Prospect Highest grade across 1 m of 27.10 g/t Au Grade halo of up to 60 m @ 0.50 g/t Au Grade intersections encountered from surface Minor infill Resource Drilling required AFRICAN LIONS GOLD plc#15The Copper Hill Prospect 8434800 8434700 8434600 8434500- 8434400- ++++ ++++++++++ ++ +++ + + + + + + + ++++ +++++++++ +++ 7+ +4 +++) 8434300- · + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + (+) +++ + + + + + + + + + + + + + + * Đ ++- +0,0035+ + + + ++ 600 m +++ + ++ +++ +++ ++ + 521300 521400 521500 521600 200 400 + +++++++ + 0,0035 + + 400 m x ++++++++ + + + + 521700 521800 521900 600 ++ ++ +++ N Au (PPM) 522000 800 m 520900 000000 521200000000 521500000000 521800 000000 522100000000 84350000 8434700.00 8434100-000000 8434400 000000000000000 00000000 000 ooooooooooooooo oooooooo ooo 000000000000000 00000000 000 @oooooooooooooo ooooooooooo ooooooooooooooo ooooooooooo 000000000000000 00000000000 @oooooooooooooooooooooo 000 @oooooooooooooooooooooo 000 000000000000000 00000000 000 000000000000000 00000000000 @oooooooooooooooooooooo 000 @oooooooooooooo ooooooo0000 ooooooooooooooooooooooooo00 ooooooooooooooo ooooooooooo oooooooo ooooooooooooooo 000 00000000 0000000 00000000 000 @oooooooooooooooooooooo 000 ooooooooooooooo ooooooooooo 522400 000000 15 84341000 8434400.00 84347000 84350000 0,2 0,1 0 0,2 0.4 0,6 Kilometers 520900 000000 521200000000 521500000000 521800000000 522100000000 522400.000000 Soil sampling with 486 Samples collected across a grid of 850 m by 516 m Soil anomalies (up to 0.056 ppm Au) were picked up at triple intersection points between structures The anomalies occur along a NW/SE strike length of 400 m and a NE/SW strike length of 600 m Phase 3 will follow up on these anomalies with trenching (3 x 100 m) and channel sampling with the aim to accelerate this Prospect to drill phase AFRICAN LIONS GOLD plc#16Exploration Phase 3 - Use of Proceeds Activity Exploration Geologist Total Project Drilling (6 100 meters) Laboratory Analysis (6550) Camp/Operations Soil and Auger Sampling (2000) Equipment & Infrastructure In country Logistics & Admin License & Community relations Corporate and Admin Salaries Financials, Audit, Legal & IT UK - Office MUR - Office Listing Fees £ 2 335 330 £ 110 658 £ 363 293 Audit fee, Legal, NOMAD Corporate Finance Fee £ 195 000 Total £ 3 004 280 Anticipated Raise Raising and Marketing 6.5% Listing Cost 12% Corporate and Admin 3.5% Exploration 78% £ 3 000 000 AFRICAN LIONS GOLD plc 16#17Early Small Scale Mining • Engaged Small Scale Mining Contractor • • • • • Site establishment and construction planned for Q3 2022 Contractor will be responsible for all Capital and operating costs Contractor is limited to mine up to 25 m depth to prevent compromising future pit designs. Gold will be split 74% contractor, 20% Ouro Mulamuli (ALG Subsidiary) and 6% production tax ALG will monitor and track daily production. Estimated annual production of between 12,000 oz/annum and 24,000 oz/annum of gold Potential annual gross cash inflow of between $4,320,000 and $8,640,000 (ALG's share) AFRICAN LIONS GOLD plc 17#18Estimated Timeline Activities Private Raise Phase 3 Infill Resource Drilling Upgrading of Additional targets Maiden Resource Statement Production from Small Scale Mining IPO & Listing (Appointed: PKF - Auditors; Beaumont Cornish – NOMAD) - Gold Sales *Phases of potential uplift. Q1 2022 Q2 2022 Q3 2022 Q4 2022 * * AFRICAN LIONS GOLD plc 18#19African Gold Peer Comparison EV (GBP £) 0 10 5 15 20 25 35 30 45 40 Thesis Gold Inc. (TSXV) Nobel Resources Corp. (TSXV) Cora Gold Ltd (AIM) Fredonia Mining Inc. (TSXV) Turmalina Metals Corp. (TSXV) Mako Gold Limited (ASX) Screening Criteria Exploration Companies Listed in the Last 5 Years Only Africa and Latin America Only Gold as Commodity Comparable Exploration Target E2 Metals Limited (ASX) African Gold Ltd. (ASX) Bastion Minerals Limited (ASX) Sun Peak Metals Corp. (TSXV) Panthera Resources (AIM) Aurumin Limited (ASX) African Lion Gold Capitan Mining Inc. (TSXV) Pucara Gold Ltd. (TSXV) Megado Gold Limited (ASX) AFRICAN LIONS GOLD plc 19#2020 20 Why Invest Now? Emerging Mozambican Gold Story ✓ Low Valuation with Significant Upside Potential III Mining Concession Granted Maiden Mineral Resource in H2 2022 Early Stage Mining 1,369,600 oz Gold Exploration Target on only 3 of 20 Prospect Areas Substantial Blue-Sky Potential on Additional 17 Prospect Areas Aim to Produce Multi-Million Ounce Resource Self-funded from Production and Early Cash Flow by End 2022 AFRICAN LION GOLD plc#21African Lion Gold plc 21 21 Contact Cobus van Wyk Phone: +27 82 490 1015 Email: [email protected] Franco Jordaan Phone: +27 84 510 0481 Email: [email protected] Registered Address Highdown House Yeoman Way Worthing West Sussex BN99 3HH United Kingdom in AFRICAN LIONS GOLD plc#22ADDITIONAL INFORMATION AFRICAN LION GOLD plc 22#23African Lion Gold Team 23 23 MR. COBUS VAN WYK - Chairman Mr Cobus van Wyk is an extensively experienced exploration and mining entrepreneur active in Mozambique since 2004. He directly contributed to securing the current project's concessions via extensive contacts in the Mozambique government and business community. Mr. van Wyk has personally discovered prospective areas and done due diligence on 1,800 concessions and has developed and sold numerous projects including a tantalite project to Afrique, a Coal project to AfriMinerals, a diamond project to Mustang, Graphite projects sold to Balama and Ovanha and he also developed and mined rubies which he then sold to Gemrock and Fura. Mr. van Wyk completed his MBA from the University Of Wales. He has over 20 years of experience in the financial markets and corporate finance and 20 years of experience as director of listed and unlisted companies. MR. FRANCO JORDAAN - Chief Executive Officer Mr Franco Jordaan is an expert in all aspects of financial accounting, management reporting, systems, corporate governance, treasury, marketing and projects. He has worked for major players including Impala Platinum, Eastplats, Trafigura and Vedanta, and has experience with multiple commodities (Platinum group metals, Iron ore, Chrome, Copper Zinc, Lead, Silver). He has been involved in mining, exploration processing and refining since 2001, and has first-hand experience of doing business in Mozambique, Angola, DRC, Namibia and South Africa. Mr. Jordaan completed his BCom hons. degree, CIMA advanced diploma, PMP and CCP. MR. DIRK MUNTINGH - Technical Director Mr Dirk Muntingh holds a Master's degree in the field of geology which he obtained from the University of Johannesburg. He previously worked at the Council for Geosciences, before joining Anglo American Corporation's gold division in 1987 and progressed to Country Manager for Ghana in 1997 before transferring to AngloGold in 1999 as the Country Manager for Australia. From 2006 he managed the exploration program of Witwatersrand Gold Resources until its takeover by Sibanye Gold in 2014. He has since then practised as an independent consulting geologist. He operates internationally and specialises in geological aspects of gold mining, exploration and project feasibility over the full range of deposit types. AFRICAN LIONS GOLD plc#24African Lion Gold Team 24 24 MR. PHILIP RICHARDS - Director Philip Richards is Founder and President of RAB Capital which he jointly founded in 1999. He was Chief Executive Officer and Chief Investment Officer until 2008. As manager of the RAB Special Situations Fund he ran around $2bn in the mining and energy sector. Previous to founding RAB Capital he was a Managing Director in equity research and then investment banking at Merrill Lynch. He is a graduate of Oxford University. MR. ROBERT SCHAFER- Non-Executive Director Mr Robert Schafer (Bob) is a Registered Professional Geologist with +30 years international experience. Bob is an active member of the Society for Mining, Metallurgy & Exploration (SME), its President 2020-2021, and served on the Board for more than a decade. He is also Past-President of the PDAC (2015-16), the CIM (2013-14) and the Mining and Metallurgical Society of America (2005-6). Bob was a member of the Board of Governors for the US National Mining Hall of Fame and the Board of Directors of the Canadian Mining Hall of Fame. He is the first person to hold such leadership roles in both the USA and Canada. Bob is the recipient of the William Lawrence Saunders Gold Medal from AIME, as well as the prestigious Daniel C. Jackling Award and Robert A. Dreyer Award from SME for technical achievements and leadership in the mining industry during his career. He is founder and CEO of Eagle Mines Management and is a member of the Board of Directors of select mining companies. MR. KYLE LUSTED - Head Of Geological Department Mr Kyle Lusted has been the in-house Geologist for Regius Resources since April 2019. He obtained his Honours Degree in 2017 and Master's Degree in 2019 from the University of Pretoria, both within the field of geology. Mr Kyle Lusted overseas all geological aspects of the projects run by Regius Resources Group and has experience in various commodities including gold, graphite and heavy mineral sands. Mr Lusted's main field of interest and research is igneous and metamorphic petrology with a special focus on the formation and alteration of supracrustal ore bodies. AFRICAN LIONS GOLD plc#25African Lion Gold Team MR. PAULO CINTRA - Mining Engineer Mr Paulo Cintra holds a degree in Mining Engineering with more than 25 years' experience in production with a diverse mixture of products and technologies, bringing valuable hands-on operations management. Experienced primarily in prospecting mineral processing and quarry exploration operations having worked in Portugal, Spain, Angola and Mozambique. MR. BENTO MUXLHANGA - Senior Geologist Mr Bento Muxlhanga received his honours degree in Geology from Eduardo Mondlane University in Mozambique in 2012. He has over eight year's experience in geological exploration, water research and analysis. Mr Muxlhanga has been instrumental in the discovery of several resource deposits over his career. He has had first-hand experience in Gold, Rubies, Diamonds, and Heavy Mineral Sands exploration projects. As a Portuguese speaking Mozambique national with several years of geological experience, Mr Muxlhanga is an integral part of the African Lion Gold team. MR. KOBUS BADENHORST - Independent Geologist Mr Kobus Badenhorst obtained his BSC (Geology) in 1992 and BSC (Hons) (Geology) in 1993, both from the University of the Free State, South Africa. He has more than 20 years' experience in the Exploration and Mining industry. Mr Badenhorst has been the Managing Director of GeoActiv (Pty) Ltd since 2007. He is involved in various projects for different commodities. Greenstone Stella Platinum; various Bushveld PGM projects; heavy mineral sands projects in South Africa West coast, Sri Lanka and Bangladesh; Postmansburg Iron Ore Projects; Zimbabwe Great Dyke PGM and Greenstone Gold; Zambia Cu; Mali Au etc. AFRICAN LION GOLD plc 25#26African Lion Gold Company Structure VERICOR HOLDINGS LIMITED (ISLE OF MAN) REGIUS RESOURCES GROUP LTD (BVI) 32.6% 16.5% 11.8% RAB CAPITAL AFRICAN LION GOLD PLC (UK) COMPANY NO: 13004051 5.4% MARK DENNING Directors: - Jacobus Strydom van Wyk - Hendrik Francois Jordaan 5.3% Dirk Muntingh MILO INVESTMENTS LIMITED William Philip Seymour Richards Robert Schafer 28.4% OTHER INVESTORS 100% AFRICAN LION RESOURCES GBL (MAURITIUS) COMPANY NO: C145469 C1/GBL 80% OURO MULAMULI LDA (MOZAMBIQUE) COMPANY NO: 100568632 Owner of Licence 9664C 20% Joao David Mabombo AFRICAN LIONS GOLD plc 26#27ALG Committed to Sustainable Development Community Development ALG strives to empower nearby communities. Upskilling local workers to leave a lasting legacy and ensure potential for future economic growth of the area. Supporting Communities ALG has assisted local farmers with much needed seed and fertilizer, supporting subsistence farming. ALG submitted an application to the Water Regional Administration (ARA) to drill a water consumption borehole for community use. Covid-19 ALG prioritises the health and safety of our employees, while educating local communities about the dangers and preventative measures of Covid- 19. ++ AFRICAN LIONS GOLD plc 27#282021 Gold Review • ● • Fiscal stimulus and spending have followed the Covid-19 induced global economic downturn Gold has long been considered a hedge against inflation, and in years when inflation was higher than 3%, the gold price increased an average of 15% per year (1) In November 2021, Global gold ETFs had their first month of net inflows since July 2021, and developed market central banks added gold to their reserves for the first time since 2013 Global investment demand for gold has grown by an average of 15% per year since 2001 and the gold price has increased almost 7x over the same period (2) Gold spot price in US dollars, London PM fix USD/oz 2,200 6% 5% 2,000 1,800 1,600 4% 3% 2% 1% 1,400 0% 1,200 -1% 2019 2020 11 2013 2021 2022 Source: Reuters Datastream, LBMA, World Gold Council (Data to 18/02/2022) 2015 CPIH - CPI 2017 2019 Dec '21: 5.4% 4.8% 2021 CPI-Consumer Price Index, CPIH=Consumer Price Index (incl. housing costs) Source: Office for National Statistics (1) As of 31 December 2020. Based on y-o-y changes in US dollars for 'gold': LBMA Gold Price PM, and 'inflation': US CPI since January 1971. (2) 31 December 2000 to 31 December 2020. Source: World Gold Council Sources: Bloomberg, ICE Benchmark Administration, World Gold Council AFRICAN LIONS GOLD plc 28#29Favourable Geological Location Oubanguides Orogen Africa S NF Arabian- Nubian WA AS Shield West Gondwana C India M Australia S. America ACS RS K East Gondwana Antarctica Chifunde Gold Project Mozambique Belt AFRICAN LIONS GOLD plc 29#30Initial Prospects 84320000 8435000 8438000.0 8441000 8444000 502000.000000 8447000 502000 000000 505000000000 508000.000000 511000-000000 514000000000 517000 000000 520000 000000 523000-000000 Legend License Extent N-S striking shear zone_inferred (Ross-Delamarian Orogeny_520-480 Ma) NE-SW striking shear zone (Zambezi Orogeny_590-560 Ma) E-W striking normal fault zone (Mozambique Orogeny_640-610 Ma) NW-SE striking shear zone (Kuunga Orogeny_560-520 Ma) W-verging thrust zone (Mozambique Orogeny_640-610 Ma) Quartzite Gabbro Castanho Granite Suite Actinolite Schist (shale, mudstone) - Mualadzi Group Amphibolite (basalt) - Mualadzi Group Amphibolite Gneiss (basalt, basaltic pyroclastics) - Mualadzi Group Desaranhama Granite (syn-post l-type granitoids) - Furancungo Granitoid Suite Neoproterozoic granite 1,5 3 505000.000000 6 508000.000000 9 Copper Hill Messengereze Chatsunda 12 Kilometers 511000.000000 514000 000000 517000.000000 520000 000000 523000-000000 526000-000000 N W E S 8432000.000000 8435000 526000.000000 AFRICAN LION GOLD plc 8438000 8441000000000 8444000 8447000 30#311.48m @ 4.68 g/t gold Discrete high-grade mineralisation within wider lower-grade halo defining underground mining potential as well as bulk tonnage, open-pit potential CHDD013 CHDD016 66.05 83.88 108.26 14.57 29.67 47.80 CHDD024 CHDD039 CHRC007 CHRC008 57.05 71.60 106.13 115.30 98.58 106.03 0.00 2.00 26.00 Wider Halo 2.29m @ 1.27 g/t gold 1.50m @ 1.08 g/t gold 5.27m @ 1.63 g/t gold 7.79m @ 1.50 g/t gold 3.82m @ 3.45 g/t gold 2.19m @ 0.54 g/t gold 3.93m @ 1.55 g/t gold 2.24m @ 0.51 g/t gold 1.51m @ 1.08 g/t gold 4.58m @ 1.90 g/t gold 1.58m @ 4.21 g/t gold 1.48m @ 3.71 g/t gold 10.60m @ 0.52 g/t gold 15.00m @ 2.35 g/t gold 2.00m @0.50 g/t gold 11.00m @ 2.06 g/t gold Significant Drill Intersections Borehole ID From (m) CHDD010 52.50 High-Grade Intersections 1.47m @ 7.21 g/t gold 1.53m @ 10.70 g/t gold 1.58m @ 3.12 g/t gold 1.49m @ 1.20 g/t gold 4.00m @ 8.35 g/t gold CHRC009 47.00 2.00m @ 1.43 g/t gold 5.00m @ 4.23 g/t gold 1.00m @ 2.16 g/t gold 54.00 3.00m @ 1.25 g/t gold 1.00m @ 3.01 g/t gold CHRC011 130.00 2.00m @ 1.75 g/t gold 1.00m @ 2.92 g/t gold CHDD009B |CHRC015 103.20 70.44 78.02 6.05m @ 2.53 g/t gold 1.56m @ 0.62 g/t gold 4.35m @ 0.48 g/t gold 1.54m @ 9.50 g/t gold 86.09 10.44m @ 0.79 g/t gold 2.23m @ 1.39 g/t gold 109.01 CHRC016 124.76 72.72 105.85 126.92 1.52m @ 1.16 g/t gold 18.05m @ 1.69 g/t gold 14.97m @ 0.56 g/t gold 1.59m @ 0.71 g/t gold 5.17m @ 0.59 g/t gold 1.43m @ 16.05 g/t gold 1.50m @ 1.40 g/t gold 1.50m @ 1.16 g/t gold AFRICAN LIONS GOLD plc 31#32Exploration Program - Phase 3 Infill and Extensional Resource Drilling Program - 6,100 m Auger Drilling, Trenching and Channel Sampling at the Copper Hill Prospect Soil Sampling Program on Several Other Prospect Areas 500 m x 500 m Grids across Anomalies JORC 2012 Maiden Resource Estimate 8434400-000000 8434700 8435000 523300 000000 CHDD040 CH D041CHDD042 CHDD053CHDD077 CHDD043 450m HDD092 OHDDOSS CHDD09> CHDD095 CHDD046 CHDD0988 CHDD112 CHD 058 H11 HDD090 CHDD115 HDD101 CHDD049 CHD2072 HDD 1 CHDD118, CHDD 51 CHDD105 HOD12 850m CHDD052 CHQD065 CHDD107 CHOD121 CHOD10 CHDD078 CHDD12 CHDD10CHDP124 CHOD125 CHDD126 CHDD127 CHDD128 SHOD129 CHDD130 Phase 3 Resource Drilling CHDD131 CHDD132 523300 000000 523600.000000 8434400 523600000000 8434700 8435000 32#33Projected Exploration Cost Exploration Breakdown Diamond Drilling Meters 6,100 m Holes 41 Average Depth of Hole 150 m Deepest Hole 350 m Samples to Analyse 6,550 Soil Samples for BLEG Tests Samples Exported & Submitted to ALS Laboratory 2,000 18.7 tons Exploration Cost per meter Drilling Cost per meter Laboratory Cost per meter Geologist and enabling *Excluding: Infrastructure, Licensing, logistics and community relations £ 253 £ 140 £ 25 £ 88 AFRICAN LIONS GOLD plc 33