Perspective of the mining sector in Mauritania

Mauritania has significant mineral wealth with more than 900 listed mining and mineral indices and
has strong potential to become a major player in the world production of minerals. Iron is the most
abundant resource (the world’s seventh largest exporter) followed by gold and copper. The most
important deposits are located in five major regions:

 The R'Gueïbat ridge located in the north of the country and containing significant gold and
iron reserves. The backbone also presents important prospects in the field of uranium;
 The Mauritanian chain located in the center-west containing reserves of gold (Fra
Agharghar, Kadiar Mbout, Bouzraibia), iron ores and copper (Guelb Moghrein);
 The Coastal Basin, rich in petroleum and phosphate;
 The Taoudéni Basin in the center-east of the country, rich in iron ores and presenting
 potential for copper, gold, zinc and uranium mineralization; and
 The Tindouf sedimentary basin in the north of the country, has potential for iron ore and
 petroleum. It should however be noted that this basin is not considered as a major
geological unit in Mauritania, because of its position on the edge of the R'Gueibat Ridge and
because it is little known.
THE MAIN OPERATORS OF THE SECTOR:

 SNIM (Iron company)

 Kinross TASIAST MAURITANIE Ltd SA (Company producing Gold)
 MCM (Company producing Copper and Gold)
 Kinross TASIAST SUD (new operating permit for Gold)
 Aura Energy (new permit for uranium and gold)

SNIM:
IRON ORE SNIM (National Industrial and Mining Company) today produces a little more than 12
million tonnes of iron per year. It aims to reach 40 million tonnes by 2025 to be part of the world's
top 5 exporters of iron ore.

Kinross Tasiast:
The KINROSS TASIAST gold mine has been operating since 2010 by KINROSS GOLD CORPORATION
through its subsidiary TASIAST MAURITANIE LTD SA (TMLSA).
TASIAST's proven and probable gold reserves are now estimated at 7.861 million ounces of gold (just
over 220T).
In 2020, an exploitation permit was granted to KINROSS for the new TASIAST SUD field, the
development of which is scheduled for late 2020, early 2021.
Obvious, for developing this project, Kinross will be drilling hundred thousand of meters with RC rigs
and Diamond rigs. And Historically, Tasiast developed its existing field between years 2010 to 2012
with many international drilling companies in collaboration local partners such as Capital drilling,
Tom Brown drilling, AMCO drilling etc. These companies were using Australian and Chilean drilling
rigs Schramm and EDM respectively. 

For more information about Taziast please visit their website :

https://www.kinross.com/operations/west-africa/Explore-Tasiast-Mauritania/default.aspx

Aura Energy:
Aura Energy has an attractive, 100% owned, diversified, development stage assets. The Tiris Uranium
Project is based on a major greenfields uranium discovery in Mauritania, with 49 Mlb U3O8 in
current resources from 66 million tonnes @ 334 ppm U3O8. The project has several natural
attributes which result in low capital and operating costs.