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Russia’s Nordgold launches third operation in Burkina Faso

Russia’s Nordgold launches third operation in Burkina Faso

Norgold says its Bouly (Burkina Faso)operation have begun operations

Bouly will have an average annual production of c.120 thousand ounces (“koz”) with a life of mine of 10 years at all-in sustaining costs (AISC) of US$730/oz

Construction was completed on schedule in 13 months and under budget for a total investment of US$140 million (US$15 million less than initial capex guidance)

Bouly’s IRR is approximately 40% at a gold price of US$1,250/oz

Bouly is Nordgold’s third operating asset in Burkina Faso and total Nordgold production in the country will reach 400 koz at full capacity

Nordgold continues to progress its capital efficient, low cost development pipeline with its new Gross mine in Russia expected to commence production in early 2018

Extensive community engagement undertaken throughout the project with new infrastructure, housing and facilities construction

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