#1NATURAL INSTINCTS SIMTA S AFRICAN LION GOLD plc Corporate Presentation June 2023 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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The distribution of this presentation in other jurisdictions may be restricted by law and the persons into whose possession this presentation comes should inform themselves about, and observe, any such restrictions. Certain of the information contained in this presentation has been obtained from published sources prepared by other parties. Certain other information has been extracted from unpublished sources prepared by other parties which have been made available to the Company. The Company has not carried out an independent investigation to verify the accuracy and completeness of such third party information. No responsibility is accepted by the Company or any of its directors, officers, employees, agents, advisers or any other person for the accuracy or completeness of such information. This presentation contains forward-looking statements and has been based upon a number of assumptions, forecasts and projections which by their nature are forward looking. These statements relate to the future prospect's developments and business strategies of the Company. Forward-looking statements are identified by the use of such terms as "anticipate", "assumes", "believe", "could", "envisage", "estimate", "expect", "forecast", "potential", "intend", "may", "plan", "should", "will" or the negative of those, variations or comparable expressions, including references to assumptions. The forward-looking statements contained in this presentation are based on current expectations and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by those statements. If one or more of these risks or uncertainties materializes, or if underlying assumptions prove incorrect, the Company's actual results may vary materially from those expected, estimated or projected. Given these risks and uncertainties, potential investors should not place any reliance on forward-looking statements. These forward-looking statements speak only as at, and on the basis of information known at, the date of this presentation. AFRICAN LION GOLD plc#3African Lion Gold Team MR. COBUS VAN WYK - President 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 networks 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 LION GOLD plc 3#4African Lion Gold Team C 4 MR. PHILIP RICHARDS - Director Mr 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. 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. AFRICAN LION GOLD plc#5African Lion Gold Team 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. MR. LIAM NELL - Head of Geological Department Mr Liam Nell earned his BSc in Applied Geology in 2021 where he graduated with Magna Cum Laude from the University of the Western Cape. He has subsequently completed his BSc Hons in Geology at the University of Cape Town in 2022, showcasing his dedication for the field. Liam is the Head of the Geological Department at Regius Exploration & Mining and is concurrently pursing a MSc in Geophysics at the University of Cape Town. AFRICAN LION GOLD plc 5#6What Sets The Chifunde Gold Project Apart? MEI CN . • • • • • 1.37 Moz Gold JORC-complaint Exploration Target on only 3 out of the 20 possible prospective areas (SRK). Maiden Resource Estimate shall be completed at an Indicated confidence level by the 3rd quarter of 2023. Mining Concession granted over 17 000 Hectares. Gold mineralization from surface. Discrete high-grade zones surrounded by wide disseminated mineralisation. Substantial Artisanal workings with historical gold extraction estimated at 800 oz of Gold per month. High-grade channel samples of up to 124 g/t gold from mining faces. Metallurgy indicates extraction up to 97% through leaching. Self funding initiative through early stage contract mining AFRICAN LION GOLD plc 6#7Mozambique Introduction British High Commission Maputo Proudly supported by: Department for International Trade Foreign, Commonwealth & Development Office AFRICAN LION GOLD plc 7#8Mozambique - Focus 28° 30° 32° Nations Online Project Lake Chifungwe Lake Bangwulu DEMOCRATIC REPUBLIC OF THE CONGO ZAMBIA 14° 16° Lusaka Lake Kariba 18° 20° Luangwa Vila Gamito 36° 38° TANZANIA Ruvuma 42° 10°- Cabo Delgado Palma Mocimboa da Praia Ancuabe Montepu Quissanga Pemba INDIAN OCEAN (MALAWI Lake Malawi Lake Nyasa W' Licoma.fs. Ruvuma Mueda ° Meculao Metangula Lugenda Chiconono Lichinga Marrupa Messalo Lilongwe о Namuno Mandimba Maúa Lurio Namapa Memba Vila Coutinho Furancungo Cuamba Mecubúrio Nacala Lake Malome Monap Mount Namuli Chilwa Lake 2,419 m Guruè Namarró OM pula Nametil Tete Changara Guro о Chemba Vila Harare Erego Milange Lugela o Gile Angoche Licungo Silha Angoche Moma Fingoè Lago de Zumbo Cahora Bassa о Cahora Bassa Magué Dam ZIMBABWE -22° BOTSWANA - 24° 1po Olifan Ribáuè-Nampula Mossuril Pebane Mocuba Morrumbala Mopeia Fontes Vila da Maganja Namacurra Velha Quelimane Marromeu Inhaminga O Chinde Chimoio Sussundenga Mount Binga 2,439 m Dond Beira Chibabava Espungabera Nova Mambone Save Chicualacuala Mabote о Mapai Inhassoro Ilha do Bazaruto Ilha Benguérua Vilanculos Ponta São Sebastião Ponta da Barra Falsa Mozambique Meconta Moçambique Mogincual Channel 1977 Km MOZAMBIQUE National capital Provincial capital Town, village Airport International boundary Main road Limpopo Massinga Massingir Homoine Panda Morrumbene Inhambane Tropic of Capricorn Railroad Ports Inharrime Quissico Xai-Xai SOUTH AFRICA Guija Chibito Magude Maci Namaacha ¡Mbabane SWAZILAND nba Manhiça Maputo ane Bela Vista Pretoria 26° INDIAN OCEAN MOZAMBIQUE 0 50 100 150 200 km 0 50 100 150 mi REPUBLICA MOÇAMBIQUE Population 2021: 32 077 072 (1) Land Area: 786 380 km² (2) Coastline: 2 470 km (1 534 miles) (3) INFRASTRUCTURE ✓ 7 ports creating entry & exit points for inland neighbours (4) ✓ Multiple international airports ✓ Over 30 000 km road network (5) ✓ Over 4.787 km of rail systems (5) GOVERNMENT ✓ Politically stable ✓ Multi-party democracy ✓ Resilient economic growth currently estimated at 6.5% for the 2023-2024 period (6) ✓ Mining Law 2014 in place (7) ✓ 6% Production Tax (7) ✓ Mining concessions valid for 25 years and can be extended for a further 25 years (7) 28° 30° 32° 34° 36° 38° 40° 42° (7) SAL & CALDEIRA ADVOGADOS, LIMITADA - Legal Framework for Mining Activities, October 2021 AFRICAN LION GOLD plc 8#9Mozambique Focus (Continued) FURA Fura Gems Ruby Mine EMERALDS RUBIES SAPPHIRES SYRAH Balama Graphite RESOURCES Project AFRICAN LION GOLD plc BAOBAB Boabab Steel and. STEEL AND VANADIUM Vanadium Project Moatize and Chirodzi JINDAL STEEL & POWER Coal Mine MAJOR PROJECTS Lake Nyasal Lake Malawi Roma oMetangula Lugenda Lichinga Niassa Rovuma Palma ocímboa da Messalo Cabo Delgado Pemba Mouez Lurio Vila' Coutinho Cuamba Mutuáli Lago de Zumbo Cahora Bassa Tete Lake Chilwa oGurué Nampula Namialoo Nampula Nacala Moçambique ize Tet Angoche Zambeze Licungo Zambezia Mocuba Pebane Catandica • Quelimane Marromeu Sofala TATA STEEL Benga Coal Mine Manica •Gondola Chimoio Dondo xtract Manica Gold Project RESOURCES PLC G MRC MRG Mineral Sands Projects ° Beira Buzi Baia de INDIAN Espungabera Sofala Nova Mambone OCEAN Manica Save Vilankulo óChicualacuala Inhambane Limpopo Gaza Maxixe o Inhambane Chókwèo Macia buto Xai-Xai Mozal Aluminium MOZAL Maputo MAPUTO Smelter Matola Bela Vista BHP 1977 Km Total LNG Project TOTAL Rovuma / Coral South LNG Project eni ExxonMobil Ancuabe Graphite Project 9 TRITON MINERALS Montepuez Ruby Mining GEMFIELDS Moma Titanium Mine KENMARE Sasol Natural Gas Projects RESOURCES PLC SASOL AFRICAN LIONS GOLD plc#1010 · • • . LNG Projects in Mozambique Mozambique has one the world's largest natural gas reserves and has the potential to become a world leading LNG producer. (8) The country has discovered huge offshore gas reserves in the Rovuma eni Basin, estimated to hold over 5 trillion cubic meters of natural gas. (9) Major LNG investors include Total, Eni, ExxonMobil, CNPC, and Sasol. LNG Investments are projected at GBP 46 billion which is equivalent to 4 times Mozambique's GDP. (10) TOTAL ExxonMobil SASOL CNPC Total Energies LNG plant (2019). (11) AFRICAN LIONS GOLD plc#11Exploration Target Achieved & Multi-Million Ounce Resource Plan AFRICAN LION GOLD plc 11#12. Exploration Target An Exploration Target is a JORC-compliant estimate of the exploration potential of a mineral deposit in a defined geological setting where the estimate quoted as a range of tonnes and a range of grade for which there has been insufficient exploration to estimate Mineral Resources. ALG achieved an Exploration Target of 220 500 - 1 369 600 oz of Au content estimated at grades between 0.88 - 2.3 g/t, completed by VBKOM. The average drill spacing was 180 m. Tonnage Grade Au Content Target Minimum Maximum Minimum Maximum Minimum Maximum KT KT g/t g/t Koz Koz Messengereze Targets Chatsunda Targets 3 650 7522 0.88 3.27 103.3 626.8 3 461 9 595 0.88 3.27 97.9 670.8 Copper Hill Targets 684 1 369 0.88 1.63 19.4 72 Totals to 250 m Depth 7 795 18 486 0.88 2.30 220.5 1 369.6 CPR Report by SRK April 2022 VBKOM AFRICAN LIONS GOLD plc 12#13Multi-Million Ounce Resource Plan Mineral Resource Requirements for Chifunde Project Type of Resource Estimate Exploration Target Inferred Resource Drill Spacing (meters) (1) 180 100 50 Industry Valuation (USD per Oz) $ 15 $ 20 (2) $ 30 (2) Indicated Resource Increase in valuation through resource category upgrade Indicated Resource Reference: 1. VBKOM Resource Geologist report 2. http//munknee.com/how-to-value-a-junior- miners-gold-in-the-ground Inferred Resource Exploration Target $0 50 $20 $40 Millions $60 $80 AFRICAN LIONS GOLD plc 13#14Work Completed 14 44 AFRICAN LION GOLD plc#15Strike Length Exceeding 2km Lower Thrust Upper Thrust ~47 Messengereze: Historical Pit 1 Chatsunda: Historical Pit 2 Chatsunda: Target Area AFRICAN LIONS GOLD plc 15#16Legend Completed Drilling Geochemical Sampling Exploration Target Areas Thrust and Fault Zones Messengereze Exploration Target: 535 400 oz A 16 Messengereze Target 6: 43 400 oz Messengereze Target 9: 48 000 oz Copper Hill Exploration Target: 72 000 oz 1.4 km Chatsunda Pit 2 Exploration Target: 546 700 oz 600 m Image 1.5 km 2023 CNES / Airbus Image 2023 Maxar Technologies 1.1 km Chatsunda Pit 3 Exploration Target: 124 100 oz#17. High-Quality Geophysics Completed 16 17 18 19 20 24Km 15 12 14 Aeromagnetics Aeromagnetic surveys were used to delineate structures and identify additional target areas. 7,2Km 6 MO 7 8 6 4 3 2 15 1.Messengereze 2.Chatsunda 3.Copper Hill AFRICAN LIONS GOLD plc 12 Km W -E 17#18High-Quality Geophysics Completed 24Km 16 17 18 15 12 14 19 20 13 9 10 8 7 6 3 2 • Radiometrics Radiometric surveys were used to indicate the different rock types and the contacts between them. We correlated the drill information with geophysics on the current prospect areas and identified 17 additional areas with similar lithologies and structures across the rest of the concession to produce the map on the following slide. 7,2km 1.Messengereze 2.Chatsunda 3.Copper Hill AFRICAN LIONS GOLD plc 12 Km Z. E 18 18#1917 Additional Prospects Identified Across the Concession 18 17 16 19 20 15 24 Km 12 11 14 13 No. of Structural Current Prospect Areas Intersections 2 3 4 5 6 7 8 2,5 Km Messengereze 1 Copper Hill 3 3,3 Km 2. 4 Chatsunda 10 9 8 6 2 4 5 AFRICAN LIONS GOLD plc 19 W- -E 12 Km#20Regional Geology and Gold Formational Model Country Rocks Key Structural Zones Thermal Aureole 3 Granitoid Intrusions Chifunde Gold Project > Au Deposit Setting Types: 1. Fort Knox (Alaska, USA) 2. Vasilkovskoye (Kazakhstan) 3. Pogo (Eastern Alaska, USA) 4. Muruntau (Uzbekistan) 5. Granites-Tanami (Australia) 20 20 ~5km 6. Tefler, Obusi, Sukhoi Log (Australia, Ghana, Siberia) TAG: Thermal Aureole (pluton-related) Gold Systems (presented by Greg Hall, 2021) • This is a Thermal Aureole Gold (TAG) model indicating the position of some of the biggest deposits in relation to granitic contact zones. This is a predictive model for gold mineralisation used by ALG. • The Chifunde project sits within the TAG model as indicated. • The red indicates the Granites that intruded the country rock. . The yellow displays the alteration zones. • The black stripes are the shear and fault zones which are the pathways for the penetrating fluids. AFRICAN LION GOLD plc#21The Copper Hill Prospect 520900 000000 521200000000 521500000000 521800.000000 522100.000000 522400000000 21 21 8434800- 8434700 +++++++++++ + 8434600- + + 8434500 8434400 8434300- • • • • . ++ ++++4 ++++++++ + + + + + + ++ (+)+ +++ ++ ++ +++ +++++++ + + + + + ++ + + +++ + + + + + + + + + + + + + + + + + + + + + + ) +++ + + + + + + + + + + + + 4 +++ +++++++++++ + + + + + + + + + + + + + + +++++ + 521300 521400 521500 521600 200 400 ++++ ++++++ (+)- ++++++ +++++ + + F + + ++ + # 0,0035 + 600 m +0,005++ + + A +++++++++ 521700 600 4.0035+ 400 m 521800 521900 +++++++ ++++ ++ 522000 800 m N Au (PPM) 8435000.000000 8434400.00 8434700 8434100 000000000000000 00000000 00 0 oooooooooooooooooooooooo00 @ooooooooooooooooooooooooo woooooooooooooo ooooooooooo 000000000000000 00000000 000 0000000000000000 00000000000 800000000000000 00000000000 woooooooooooooo 00000000000 woooooooooooooo ooooooooooo woooooooooooooo 00000000 000 000000000000000 00000000000 0000000000000000 00000000000 ooooooooooooooo ooooooooooo oooooooooooooooo oo000000000 ooooooooooooooo ooooooooooo @oooooooooooooo 00000000000 ooooooooooooooo oooooo00000 0,2 0,1 0 0,2 0,4 0,6 Kilometers 520900 000000 521200000000 Located 1.6 km from Messengereze and 1.5 km from Chatsunda. 521500000000 521800000000 woooooooooooooo 00000000000 8435000.000000 8434700 8434100 8434400 522100000000 52240000000 Geochemical sampling completed with 486 Samples collected across a 850 m by 516m grid. We discovered gold anomalies at Copper Hill in locations where the TAG model had identified anomalies. Geochemical anomalies were picked up at triple intersection points between structures. To accelerate this prospect to the drill phase, Phase 3 will involve trenching and / or auger drilling to follow up on the identified anomalies. • AFRICAN LIONS GOLD plc The same grid configuration will be used on the other 17 prospect areas which will indicate the potential orebodies.#22Project Infrastructure Core Shed (10 000 m of core capacity) Ablution Block Kitchen & Mess Area ALG Site Office Workshop & Storage ALG Staff Camp (~40 person capacity) Major Drilling Camp 22 22 Guard House AFRICAN LION GOLD plc#23Historical Artisanal Mining AFRICAN LION GOLD plc 23#24. • Historical Artisanal Mining Over 2 000 artisanal miners have been mining primary gold deposits from surface to roughly 120 m depth along a 2 km strike. Artisanal miners have produced approximately 42 439 oz of gold over the past five years.* With the assistance of the Mozambican government, roughly 95% of the Artisanal miners have been removed. Image of Messengereze Pit 1 *CPR Report by SRK April 2022 Image of Chatsunda Pit 2 24 24 Image of Chatsunda Pit 3 AFRICAN LIONS GOLD plc#25Messengereze High-Grade Channel Samples Channel Sample No.* 1 2 Classification Average Grade (g/t) Length of Samples (m) Approximate Depth Below Surface (m) 3 4 E-W Structure 33.1 Thrust Fault Thrust Fault Thrust Fault 45.4 80.3 124.5 3.55 1.18 0.41 0.72 40 60 60 *Channel sample 1 results obtained from SGS Randfontein. Assay results for Channel samples 2-4 obtained from ALS Laboratories. 110 A team of Geologists descended into the primary historical artisanal pit to collect channel samples from various mining faces at different depths. The samples of different lengths with an approximate thickness of 10 cm were extracted. Average grade of 124.5 g/t across 0.72 m wide sheeted translucent quartz package AFRICAN LIONS GOLD plc 25#26Future Exploration AFRICAN LION GOLD plc 26#27• • • • Phase 3 Exploration Program 9 000 meter Resource and extensional drilling between Chatsunda Pit 2 and 3. JORC-compliant Maiden Resource Estimate shall be completed at an Indicated confidence level by the 3rd quarter of 2023, as well as an early-stage Scoping Study / Pre-feasibility Study thereafter. Geochemical Sampling Program on other Prospect Areas (500 m x 500 m grids). Auger Drilling, Trenching and Channel Sampling at best Prospect Areas as identified though Geochemical Sampling Program. Additionally, our strategy involves drilling at a later stage funded by a small-scale mining initiative at several targeted locations, including: ➤ Between Messengereze and Chatsunda Pit 2, ➤ The major anomaly area at Copper Hill, At promising structural intersection points adjacent to the main prospect areas. Our ultimate aim is to delineate a multi-million-ounce resource. AFRICAN LION GOLD plc 27#28Legend Completed Drilling Exploration Target Areas Planned Drilling Small-scale Mining Funded Drilling Thrust and Fault Zones Copper Hill 600 m Image 2023 Maxar Technologies Image 2023 CNES / Airbus Messengereze Chantsunda Pit 2 Chantsunda Pit 3 28#29Exploration - Use of Proceeds (GBP) Exploration Cost per meter Drilling Cost per meter Laboratory Cost per meter Activity 29 29 £ 264* UOM Total Project £ 142 Exploration GBP £ 3 133 614 £ 23 Reports and Studies GBP E 470 000 £ 99 Corporate and Admin GBP £ 980 832 Marketing GBP £ 249 563 *Listing fees GBP £ 0 Corporate Finance fee GBP £ 330 000 Total GBP £ 5 164 009 Geologist and enabling Licensing, *Excluding: Infrastructure, Logistics and Community relations Corporate Finance fee Marketing 5% 6% Corporate and Admin 19% Reports and Studies 9% Exploration 61% *Proceeds from Pre IPO raise to be used for AIM listing The Proceeds will be used to add value through the completion of: • • • JORC-compliant Indicated Mineral Resources Report on the 3 current prospect areas Early stage Scoping Study / Pre-feasibility Study Identifying significant mineralisation on the other 17 prospect areas AFRICAN LIONS GOLD plc#30Capitalisation Structure Shares Outstanding Options / Warrants Outstanding Debt Outstanding Listing Valuation 1% to 4% (11);. 22,1% CGWL Nominees Limted; 4,7% Below 1% (38); 8,5% Milo Investments Limited; 4,9% Mark Denning; 5,0% RAB Capital; 11,0% Pre-Placement £ 74 345 816 0 711 237 £ 20 000 000 Vericor Holdings Limited; 28,5% 40% Cobus van Wyk 40% Franco Jordaan Regius Resources Group; 15,3% AFRICAN LIONS GOLD plc 30#31Self Funding Initiative • • • Engaged small scale mining contractor. Contract miner to mine the saprolite to generate revenue. • • • • ● • Revenue shall offset exploration cost and prevent dilution to shareholders. Contractor will be responsible for all Capital and Operating costs. Contractor limited to mine till 25 m in depth. Mainly free digging material with limited drilling and blasting and only on approval of the company. Gold will be split 74% contractor, 20% Ouro Mulamuli (ALG Mozambique Subsidiary) and 6% production tax. Initial annual production of between 12 000 oz/annum and 24 000 oz/annum of gold. AFRICAN LIONS GOLD plc 31#32Strong Corporate Responsibility 32 32 Environmental The Company understands that local communities rely on the land for their subsistence needs and are fully supportive of this. ALG aims to minimise the impact of our operations on the viability and diversity of the surrounding environment. Social Governance ALG aims to be actively The ALG Board has involved with local communities and their leaders regarding plans for the project, potential social or community requirements and mutually beneficial collaboration. adopted the QCA Code for Corporate Governance. ALG is committed to improving performance while reducing and mitigating risks in order to create sustainable growth. AFRICAN LION GOLD plc#3333 ALG Committed to Sustainable Development Community Development ALG strives to empower nearby communities. 888 Upskilling local workers to leave a lasting legacy and ensure potential for future economic growth of the area. Supporting Agriculture ALG has assisted local subsidence farmers with much needed seed and fertilizer. ALG submitted an application to the Water Regional Administration (ARA) to drill a water consumption borehole for community use. Health & Safety ALG prioritises the health and safety of our employees, while educating local communities about the dangers and preventative measures of illnesses and injuries. ALCON FALCON ENCOM FALCON AFRICAN LION GOLD plc