African Gold Peer Comparison

Early 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

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