Exploration Update on Tabakorole Gold Project, Southern Mali

Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF) provides an exploration update on the Tabakorole gold project (“Tabakorole” or the “Project”) located in southern Mali. Altus holds a 49% equity interest and 2.5% Net Smelter Return (“NSR”) royalty on the Project. Exploration activities at Tabakorole are being funded by Marvel Gold Limited (ASX: MVL) (“Marvel Gold”) under its joint venture (“JV”) with Altus.

Highlights:

• Diamond drilling (“DD”) at Tabakorole gold project in southern Mali extends strike by 150m
• Intersections from six DD holes (950m) include (down-the-hole and not true width):
  • 1.8 g/t gold over 29m from 178m (hole 21TBKRCDD001)
  • 1.22 g/t gold over 12m from 167m (hole 21TBKDD002)
  • 0.90 g/t gold over 39m from 111m (composite of hole 21TBKDD004 intersections)
• 87% increase in Tabakorole JV landholding with the award of two new contiguous licences
• 3,545 line-km of high-resolution ground magnetics completed across Project
• Results of 5,100m aircore (“AC”) drilling programme testing strike extension are pending
• Project hosts a mineral deposit for which a Mineral Resource Estimate (“MRE”) has been generated (see Altus’ news release dated 30 September 2020 and titled “Substantial Increase in Gold Resource at Tabakorole Project, Southern Mali”), comprising:
  • 16,600,000 tonnes at 1.2 g/t Au for 620,000 ounces in the Inferred category
  • 7,300,000 tonnes at 1.2 g/t Au for 290,000 ounces in the Indicated category
• Altus holds 49% of the Project and a 2.5% NSR royalty on Tabakorole gold production

Steven Poulton, Chief Executive of Altus, commented:

“The potential of the Tabakorole gold project in southern Mali continues to grow. These latest drilling results increase the strike length of the deposit to at least 3.2km. Marvel Gold, our ASX listed JV partner, is aggressively advancing the Project, with further drilling already underway targeting near-surface, high-grade intercepts that fall outside of the previously modelled mineralisation. These drilling programmes are expected to contribute to an updated MRE in the third quarter of this year. In the meantime, a 5,100m AC drilling programme is also underway, testing the potential for further strike extensions to the south.

“Separately, two new contiguous licences totalling 87km2 have been awarded and added to the Tabakorole JV. Marvel Gold has already commenced exploration across these two licenses, with soil surveys and ground magnetics underway, to discover potential satellite deposits. Tabakorole hosts a significant gold resource, which remains open along strike in both directions as well as at depth. We look forward to updating shareholders with the results from the current programmes when they are received.”

In the TV clip, CEO Steve Poulton provides an overview Altus and its unique strategy