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Sarmin Bauxite Ltd Announces the Completion of a New Independent Mineral Resource Estimate at Lelouma in the Republic of Guinea

November 27, 2018

CONAKRY, Guinea--(BUSINESS WIRE)--Nov 27, 2018--Sarmin Bauxite Ltd. (“ Sarmin ” or the “ Company ”) is pleased to announce the completion of an independent Mineral Resource Estimate (“ MRE ”) prepared by SRK Consulting (UK) Limited (“ SRK ”) on its bauxite exploration license (“ Lelouma Licence ”) located in the Republic of Guinea, West-Africa.

The MRE has been estimated by Competent Persons from SRK and has been prepared in accordance with the terms and guidelines of the Australian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves, the JORC Code, 2012 Edition (“ JORC ”). In compliance with JORC reporting guidelines, a JORC Table 1 is available on the Company’s website www.sarminbauxite.com.

The MRE delineates a Total JORC Compliant Bauxite Mineral Resources of approximately 1 billion tonnes (on a dry basis) at 44.9% Al2O3and 2.1% SiO2, with classification breakdown as follows:

Indicated Mineral Resource of 983 million tonnes (44.9% Al 2 O 3, 2.1% SiO 2 ); and; Inferred Mineral Resource of 19 million tonnes (44.9% Al 2 O 3 and 1.9% SiO 2 ).

The completion of this MRE just over one year after the award of the permit is representative of Sarmin’s confidence and commitment to developing a significant, high-quality bauxite project in the Republic of Guinea.

Sarmin will now progress with a multi-disciplinary technical study to validate the viability of the development of the Lelouma bauxite project, towards commercial production. This study will include an assessment of the economic viability of a bauxite-export project as well addressing the mining, geotechnical engineering, infrastructure, logistics, water management, and environmental and social evaluations. Upon the completion of this technical study and related works, the Company intends to apply for an exploitation concession.

Marc Sengès, CEO of Sarmin Bauxite Ltd, commented: “The independent Mineral Resource Estimate prepared by SRK confirms the significant near-term development potential of the Lelouma License to become a world-class bauxite producing asset with just over a billion tonnes of high-quality bauxite mineral resources. Further to this important milestone, Sarmin is now fully committed and focused on progressing the required technical studies to validate the development of the sustainable commercial project”.

About Sarmin Bauxite Ltd:

Sarmin Bauxite Ltd is a privately-owned bauxite company focused on the Republic of Guinea and holding 100% of the 499.7 sq km Lelouma License through its fully-owned Guinean subsidiary, Sarmin Bauxite Guinée Sàrl.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181127005195/en/

CONTACT: For further inquiries:

Sarmin Bauxite Ltd.

Marc Senges

msenges@sarminggroup.com

www.sarminbauxite.com

KEYWORD: UNITED KINGDOM EUROPE NORTH AMERICA CANADA GUINEA AFRICA

INDUSTRY KEYWORD: NATURAL RESOURCES MINING/MINERALS OTHER NATURAL RESOURCES PROFESSIONAL SERVICES CONSULTING

SOURCE: Sarmin Bauxite Ltd.

Copyright Business Wire 2018.

PUB: 11/27/2018 04:00 AM/DISC: 11/27/2018 04:01 AM

http://www.businesswire.com/news/home/20181127005195/en

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