Centamin PLC Announces Encouraging Maiden EDX Drill Results

2024-01-09 / @accesswire

PERTH, AUSTRALIA / ACCESSWIRE / January 9, 2024 / Centamin announces the results of its maiden drill programme on the Company's Eastern Desert Exploration ("EDX") landholding in Egypt and provides an update on the anticipated exploration programme for 2024. The Company's EDX blocks comprise 3,000km² of greenfield exploration tenements within Egypt's Nubian Shield - a highly prospective geological belt which has not been explored using modern exploration methods.

MARTIN HORGAN, CEO, commented: "Through the application of our systematic approach to assessing the geological potential of our Egyptian exploration portfolio, our team has delivered an encouraging set of maiden drill results across several targets within the Nugrus block, which is adjacent to our operating mine, the Sukari Gold Mine.

Supported by a pending new mining regulatory and fiscal regime, these results underpin Egypt's emergence as an attractive exploration jurisdiction which Centamin is uniquely positioned to leverage given our experience and long standing position in-country.

We have an exciting work programme budgeted for 2024 which includes delineating potential resources and further drill targets in Egypt as part of our growth strategy, which has already increased pre-depletion Group reserves by 3.5Moz over the last three years."

DRILL HIGHLIGHTS

Centamin completed a 16,216 metre ("m") reverse circulation ("RC") maiden drill programme across eight targets on the Nugrus block which is located adjacent to the Sukari Mining Concession. Significant drill intercepts include:

· Little Sukari prospect (28km west of the Sukari Gold Mine):

46m at 3.3 grams per tonne of gold ("g/t Au") from 91m downhole
77m at 1.84 g/t Au from 44m
69m at 2.01 g/t Au from 81m
46m at 2.14 g/t Au from 116m
29m at 2.71 g/t Au from 2m

· Umm Majal prospect (23km west of Sukari Gold Mine):

18m at 2.33 g/t Au from 21m
15m at 1.46 g/t Au from 4m 8m at 2.67 g/t Au from 2m
§ 5m at 16.20 g/t Au from 44m

2024 EXPLORATION PROGRAMME

· Detailed geological mapping and ground geophysical (IP and magnetics) surveys to be carried out over the Nugrus prospects, Little Sukari and Umm Majal, in H1 2024.

· Up to 15,000 metres of RC and diamond core drilling budgeted for follow up drill testing at Little Sukari and Umm Majal, alongside preliminary metallurgical testing, a conceptual resource estimate and optimisation study to steer ongoing drilling. This programme may be expanded to include first pass drill testing of potential new Nugrus targets generated through ongoing exploration fieldwork.

· Results-driven exploration programme on the Um Rus block to be determined after receipt of the soil geochemistry results, expected in H1 2024.

· Bulk leach extractable gold ("BLEG") drainage sampling programme commenced on the Najd block in late December 2023 and will be ongoing throughout H1 2024.

· Generative exploration will continue across all the exploration licences, including soil geochemistry, rock chip sampling over gold-in-soil anomalies, and detailed geological mapping with the objective to identify new drill targets.

PRINT-FRIENDLY VERSION OF THE ANNOUNCEMENT: LINK

ABOUT CENTAMIN

Centamin is an established gold producer, with premium listings on the London Stock Exchange and Toronto Stock Exchange. The Company's flagship asset is the Sukari Gold Mine ("Sukari"), Egypt's largest and first modern gold mine, as well as one of the world's largest producing mines. Since production began in 2009 Sukari has produced over 5 million ounces of gold, and today has a projected mine life to 2035.

Through its large portfolio of exploration assets in Egypt and West Africa, Centamin is advancing an active pipeline of future growth prospects, including the Doropo project in Côte d'Ivoire, and over 3,000km² of highly prospective exploration ground in Egypt's Arabian Nubian Shield.

Centamin practices responsible mining activities, recognising its responsibility to deliver operational and financial performance and create lasting mutual benefit for all stakeholders through good corporate citizenship.

FOR MORE INFORMATION please visit the website www.centamin.com or contact:

Centamin plc
Alexandra Barter-Carse, Head of Corporate Communications
investor@centaminplc.com

FTI Consulting
Ben Brewerton / Sara Powell / Nick Hennis
+442037271000
centamin@fticonsulting.com

EASTERN DESERT EXPLORATION ("EDX"), EGYPT

The EDX blocks comprise 3,000km² of highly prospective greenfield exploration tenements and represents a significant landholding of underexplored geological terrane. Based on remote sensing studies, including mapping of artisanal mining sites, the interpretation of satellite imagery and mineral mapping techniques, all three blocks of ground are considered to be highly prospective.

Centamin's EDX blocks are divided into three exploration licenses:

1. Nugrus block is 1,086km² and adjacent to the Sukari Gold Mine 160km² mining concession

2. Um Rus block is 524km² and located 50km north of Sukari

3. Najd block is 1,374km² and located southeast of the former El Sid gold mine.

Image 1: Centamin's Eastern Desert Exploration Licenses (Egypt) (LINK)

NUGRUS BLOCK

Exploration activity commenced in Q2 2022 with priority given to Nugrus given its proximity to the Sukari Mining Concession and consequent lowering of the threshold of potential economic discovery due to the possibility of utilising the Sukari processing infrastructure, subject to agreement with our local partners, the Egyptian Mineral Resource Authority.

Since starting fieldwork, 741 BLEG samples, 18,257 soil samples and 3,066 rock chip samples have been collected across the Nugrus block. This systematic fieldwork initially delineated seven high priority drill targets for a maiden drill testing programme which commenced in May 2023. An eighth target (Wadi Marwah) was added mid-programme, following encouraging ongoing generative exploration results.

Image 2: Nugrus 2023 - Maiden drill targets (LINK)

The maiden RC drill programme was completed in Q4 2023, having drilled 16,216 metres. Drill fences were spaced at approximately 50-150 metres and drillholes at approximately 50-100 metres along the fences depending on target size and accessibility.

The Little Sukari prospect returned the most encouraging results of the programme. Zones of consistent gold mineralisation up to 30-60 metres wide occur over a strike length of at least 250 metres and extend at least 230 metres downdip to a vertical depth of approximately 200 metres below surface. Mineralisation remains open at depth.

Little Sukari derives its name from its geological and geochemical resemblance to the Sukari deposit, with mineralisation developed in a geochemically distinct granodioritic intrusive, emplaced in a shear zone that is developed within an ophiolitic "melange" succession like the wider host sequence at Sukari. The Little Sukari prospect is situated approximately 28km west of the Sukari Gold Mine.

Image 3: Little Sukari - Plan view of 2023 drilling collars, gold mineralisation outline and cross-section locations (LINK)

Image 4: Little Sukari - Cross-section LS270 - 5990 showing drill holes and gold mineralisation (LINK)

Image 5: Little Sukari - Cross-section LS270 - 6080 showing drill holes and gold mineralisation (LINK)

Image 6: Little Sukari - Cross-section LS270 - 6140 showing drill holes and gold mineralisation (LINK)

The Umm Majal prospect is located 5 km southeast of Little Sukari. The gold mineralisation is hosted in an altered granitoid that appears to be distinct from the host rocks at Little Sukari, but occurs within a similar ophiolitic-melange sequence. Mineralisation occurs over a strike length of 200-250 metres and the gold mineralised zone is up to 20 metres wide. Initial shallow drill testing has demonstrated gold mineralisation up to 30-40 metres below surface. No deep holes were drilled to test continuity at greater depths and the mineralisation remains open downdip.

2024 work programme

Up to 15,000 metres of both RC and core drilling is planned for Little Sukari, Umm Majal, and other nearby targets, starting in H1 2024 with results expected before the end of the year. Ground based induced-potential and magnetic geophysical surveying is planned to start in Q1 2024. A larger-scale airborne geophysical surveying is under consideration during the cooler winter months of 2024-2025 based on the successful proof of concept airborne geophysical survey undertaken over the 160km² Sukari Concession during 2022. Detailed mapping of prospective targets will continue alongside generative exploration fieldwork throughout 2024.

UM RUS BLOCK

Exploration activities commenced in H2 2022 with systematic generative fieldwork carried out with the aim of identifying justifiable drill targets. Fieldwork comprised the collection of 302 BLEG samples, 2,700 soil samples, and 69 rock grab and chip samples. Soil sampling blocks were identified through BLEG anomalism, the occurrence of artisanal mining and favourable lithology and structure. This first phase of work was completed in December 2023. Soil geochemistry results are expected in early 2024 with follow up work, including drill testing of justifiable drill targets, to commence during 2024.

2024 work programme

Soil sampling based on the interpretation of earlier BLEG survey results was completed at the end of the 2023. Full results are expected during Q1 2024 with follow up generative exploration fieldwork to continue throughout 2024 leading to drill testing justifiable targets that may emerge.

NAJD BLOCK

During Q4 2023 a field camp was set up in the Najd block, and by late December 2023, a BLEG sampling programme had been initiated. The programme was designed based on a blend of geomorphological and lithostructural interpretation, spectral and alteration mapping, and the identification of artisanal mining sites, all of which were derived from satellite imagery.

2024 work programme

BLEG sampling will be carried out through Q1 2024. A follow up exploration programme will be driven by the results of the BLEG survey.

MODEL MINING EXPLOITATION AGREEMENT ("MMEA")

The MMEA was agreed in principle in 2023, as the investment framework that will apply to commercial discoveries within Centamin's three EDX exploration blocks and will take effect once signed and the Egyptian parliamentary approval is granted. This is anticipated during H1 2024 with exploration work progressing in parallel (link to original announcement here).

Under the MMEA, exploitation licenses will be issued for a 30-year stabilised fiscal and legal regime, including:

· 5% government net smelter royalty on revenue

· 22.5% corporate tax rate

· 15% government financial net profit interest (on post tax income)

· 0.5% community development contribution, and

· Life of mine commitments towards local employment, training and procurement.

SIGNIFICANT DRILL INTERCEPTS (>2 metres width)

Tenement ID	Prospect ID	Hole ID	From (m)	To (m)	Interval (m)	Grade (g/t Au)
Nugrus Block	Ambaud North	ANRC002	47	49	2	2.63
Nugrus Block	Ambaud North	ANRC002	121	125	4	0.68
Nugrus Block	Ambaud North	ANRC003	70	75	5	1.28
Nugrus Block	Ambaud North	ANRC003	86	92	6	0.75
Nugrus Block	Ambaud North	ANRC004	38	41	3	3.47
Nugrus Block	Ambaud North	ANRC004	52	54	2	2.04
Nugrus Block	Ambaud North	ANRC005	125	127	2	2.28
Nugrus Block	Ambaud North	ANRC005	134	137	3	1.04
Nugrus Block	Ambaud North	ANRC006	49	51	2	1.99
Nugrus Block	Ambaud North	ANRC006	166	168	2	3.65
Nugrus Block	Ambaud North	ANRC007	95	97	2	3.94
Nugrus Block		including	96	97	1	7.36
Nugrus Block	Ambaud South	ASRC004	15	17	2	3.3
Nugrus Block	Ambaud South	ASRC007	80	82	2	1.51
Nugrus Block	Ambaud South	ASRC009	91	93	2	8.12
Nugrus Block		including	92	93	1	14.5
Nugrus Block	Ambaud South	ASRC009	98	100	2	4.47
Nugrus Block		including	99	100	1	8.31
Nugrus Block	Ambaud South	ASRC010	30	36	6	6.49
Nugrus Block		including	31	32	1	28.8
Nugrus Block		including	33	34	1	6.14
Nugrus Block	Ambaud South	ASRC010	108	111	3	0.58
Nugrus Block	Ambaud South	ASRC011	81	83	2	1.93
Nugrus Block	Ambaud South	ASRC011	97	100	3	0.65
Nugrus Block	Jebel Rabdi	JRRC004	93	95	2	12.6
Nugrus Block	Jebel Rabdi	JRRC015	160	162	2	0.68
Nugrus Block	Little Sukari	LSRC003	104	106	2	0.87
Nugrus Block	Little Sukari	LSRC003	156	159	3	3.02
Nugrus Block	Little Sukari	LSRC004	1	4	3	0.55
Nugrus Block	Little Sukari	LSRC004	11	30	19	1.48
Nugrus Block		including	23	24	1	5.19
Nugrus Block	Little Sukari	LSRC004	89	96	7	3.45
Nugrus Block		including	89	92	3	5.98
Nugrus Block	Little Sukari	LSRC005	21	23	2	1.15
Nugrus Block	Little Sukari	LSRC005	32	34	2	0.97
Nugrus Block	Little Sukari	LSRC005	46	54	8	1.01
Nugrus Block	Little Sukari	LSRC005	67	70	3	1.17
Nugrus Block	Little Sukari	LSRC005	81	95	14	1.37
Nugrus Block	Little Sukari	LSRC005	126	128	2	1.75
Nugrus Block	Little Sukari	LSRC005	154	156	2	1.99
Nugrus Block	Little Sukari	LSRC006	6	23	17	1.53
Nugrus Block		including	6	7	1	6.17
Nugrus Block	Little Sukari	LSRC006	99	121	22	1.27
Nugrus Block	Little Sukari	LSRC007	63	90	27	1.79
Nugrus Block		including	63	64	1	10.35
Nugrus Block		including	67	68	1	5.26
Nugrus Block		including	82	83	1	9.92
Nugrus Block	Little Sukari	LSRC007	101	108	7	1.53
Nugrus Block	Little Sukari	LSRC007	115	119	4	0.59
Nugrus Block	Little Sukari	LSRC007	123	125	2	1.26
Nugrus Block	Little Sukari	LSRC007	177	180	3	1.73
Nugrus Block	Little Sukari	LSRC008	45	52	7	0.91
Nugrus Block	Little Sukari	LSRC008	111	116	5	0.75
Nugrus Block	Little Sukari	LSRC008	135	170	35	0.9
Nugrus Block	Little Sukari	LSRC009	22	24	2	1.21
Nugrus Block	Little Sukari	LSRC009	50	52	2	1.03
Nugrus Block	Little Sukari	LSRC009	62	69	7	0.89
Nugrus Block	Little Sukari	LSRC009	74	77	3	1.06
Nugrus Block	Little Sukari	LSRC009	81	150	69	2.01
Nugrus Block		including	143	144	1	5.19
Nugrus Block	Little Sukari	LSRC010	2	31	29	2.71
Nugrus Block		including	6	7	1	36.7
Nugrus Block	Little Sukari	LSRC010	39	60	21	1.36
Nugrus Block	Little Sukari	LSRC010	66	75	9	1.13
Nugrus Block	Little Sukari	LSRC011	2	26	24	1.08
Nugrus Block	Little Sukari	LSRC012	15	17	2	0.9
Nugrus Block	Little Sukari	LSRC012	44	121	77	1.84
Nugrus Block		including	69	70	1	5.2
Nugrus Block		including	87	88	1	8.26
Nugrus Block	Little Sukari	LSRC012	132	148	16	1.04
Nugrus Block	Little Sukari	LSRC013	133	135	2	2.43
Nugrus Block	Little Sukari	LSRC018	162	185	23	1.42
Nugrus Block	Little Sukari	LSRC019	116	162	46	2.14
Nugrus Block		including	144	146	2	15.62
Nugrus Block		including	148	149	1	5.95
Nugrus Block		including	159	161	2	6.28
Nugrus Block	Little Sukari	LSRC021	113	145	32	1.89
Nugrus Block	Little Sukari	LSRC021	159	164	5	1.11
Nugrus Block	Little Sukari	LSRC022	26	37	11	1.43
Nugrus Block	Little Sukari	LSRC022	82	84	2	0.94
Nugrus Block	Little Sukari	LSRC022	93	95	2	2.24
Nugrus Block	Little Sukari	LSRC022	106	109	3	1.31
Nugrus Block	Little Sukari	LSRC023	190	192	2	0.71
Nugrus Block	Little Sukari	LSRC023	207	235	28	1.76
Nugrus Block	Little Sukari	LSRC024	133	146	13	1.82
Nugrus Block	Little Sukari	LSRC024	169	172	3	1.11
Nugrus Block	Little Sukari	LSRC025	70	72	2	1.16
Nugrus Block	Little Sukari	LSRC025	103	122	19	2.84
Nugrus Block		including	105	106	1	9.33
Nugrus Block		including	109	110	1	6.45
Nugrus Block		including	111	112	1	6.21
Nugrus Block	Little Sukari	LSRC026	1	29	28	1.78
Nugrus Block	Little Sukari	LSRC026	33	35	2	2.2
Nugrus Block	Little Sukari	LSRC026	39	50	11	0.77
Nugrus Block	Little Sukari	LSRC026	108	114	6	1.6
Nugrus Block	Little Sukari	LSRC027	3	8	5	0.75
Nugrus Block	Little Sukari	LSRC027	60	66	6	0.86
Nugrus Block	Little Sukari	LSRC027	76	80	4	2.53
Nugrus Block		including	78	79	1	7.45
Nugrus Block	Little Sukari	LSRC027	95	98	3	1.27
Nugrus Block	Little Sukari	LSRC029	121	125	4	1.92
Nugrus Block	Little Sukari	LSRC030	53	55	2	47.35
Nugrus Block		including	53	54	1	60.1
Nugrus Block		including	54	55	1	34.6
Nugrus Block	Little Sukari	LSRC030	83	86	3	2.24
Nugrus Block	Little Sukari	LSRC030	91	137	46	3.3
Nugrus Block		including	93	95	2	46.35
Nugrus Block		including	111	112	1	7.37
Nugrus Block	Little Sukari	LSRC030	144	165	21	1.14
Nugrus Block	Little Sukari	LSRC030	172	184	12	1.84
Nugrus Block		including	178	179	1	5.1
Nugrus Block	Little Sukari	LSRC030	200	225	25	1.07
Nugrus Block	Little Sukari	LSRC030	230	232	2	5.42
Nugrus Block		including	230	231	1	9.91
Nugrus Block	Little Sukari	LSRC031	197	206	9	2.14
Nugrus Block		including	199	200	1	5.31
Nugrus Block	Little Sukari	LSRC031	236	245	9	2.59
Nugrus Block		including	238	239	1	13.3
Nugrus Block	Little Sukari	LSRC032	125	163	38	1.84
Nugrus Block		including	161	162	1	6.86
Nugrus Block	Little Sukari	LSRC032	204	207	3	0.97
Nugrus Block	Little Sukari	LSRC033	163	165	2	0.95
Nugrus Block	Little Sukari	LSRC033	171	186	15	1.19
Nugrus Block	Little Sukari	LSRC033	236	240	4	1.05
Nugrus Block	Little Sukari	LSRC034	197	218	21	1.4
Nugrus Block	Little Sukari	LSRC034	227	230	3	10.82
Nugrus Block		including	229	230	1	9.58
Nugrus Block	Umm Majal	UMRC001	47	55	8	0.78
Nugrus Block	Umm Majal	UMRC001	62	69	7	1.54
Nugrus Block		including	68	69	1	5.67
Nugrus Block	Umm Majal	UMRC001	76	78	2	3.13
Nugrus Block		including	76	77	1	5.46
Nugrus Block	Umm Majal	UMRC002	2	10	8	2.67
Nugrus Block		including	7	8	1	7.89
Nugrus Block	Umm Majal	UMRC002	29	40	11	0.59
Nugrus Block	Umm Majal	UMRC002	55	57	2	0.79
Nugrus Block	Umm Majal	UMRC003	4	19	15	1.46
Nugrus Block		including	16	18	2	5.87
Nugrus Block	Umm Majal	UMRC003	24	33	9	0.82
Nugrus Block	Umm Majal	UMRC004	27	29	2	0.8
Nugrus Block	Umm Majal	UMRC005	21	29	8	1.25
Nugrus Block	Umm Majal	UMRC006	21	39	18	2.33
Nugrus Block	Umm Majal	UMRC006	49	55	6	1.12
Nugrus Block	Umm Majal	UMRC006	73	76	3	1.31
Nugrus Block	Umm Majal	UMRC007	5	23	18	0.96
Nugrus Block	Umm Majal	UMRC007	30	38	8	0.67
Nugrus Block	Umm Majal	UMRC008	47	50	3	0.74
Nugrus Block	Umm Majal	UMRC009	8	10	2	1.11
Nugrus Block	Umm Majal	UMRC009	71	77	6	1.2
Nugrus Block	Umm Majal	UMRC009	93	95	2	1.24
Nugrus Block	Umm Majal	UMRC009	100	107	7	0.84
Nugrus Block	Umm Majal	UMRC010	7	20	13	1.13
Nugrus Block	Umm Majal	UMRC010	30	34	4	1.31
Nugrus Block	Umm Majal	UMRC010	50	54	4	1.71
Nugrus Block	Umm Majal	UMRC011	44	49	5	16.2
Nugrus Block		including	45	46	1	5.48
Nugrus Block		including	48	49	1	80.9
Nugrus Block	Umm Majal	UMRC012	11	16	5	2.12
Nugrus Block	Umm Shaw	USRC001	61	63	2	2.01
Nugrus Block	Umm Shaw	USRC001	93	98	5	1.85
Nugrus Block	Umm Shaw	USRC002	92	98	6	2.78
Nugrus Block	Umm Shaw	including	93	94	1	7.41
Nugrus Block	Umm Shaw	USRC002	130	135	5	1.34
Nugrus Block	Umm Shaw	USRC004	40	42	2	0.91
Nugrus Block	Umm Shaw	USRC004	61	67	6	1.68
Nugrus Block	Umm Shaw	USRC006	67	69	2	14.58
Nugrus Block	Umm Shaw	including	67	68	1	27.3
Nugrus Block	Wadi Kiribi	KBRC002	0	7	7	0.5
Nugrus Block	Wadi Kiribi	KBRC004	23	25	2	6.41
Nugrus Block		including	24	25	1	9.12
Nugrus Block	Wadi Kiribi	KBRC004	68	71	3	4.29
Nugrus Block		including	70	71	1	11.45
Nugrus Block	Wadi Marwah	WMRC007	117	119	2	1.08
Nugrus Block	Wadi Marwah	WMRC007	183	185	2	0.57
Nugrus Block	Wadi Marwah	WMRC008	132	134	2	1.14
Nugrus Block	Wadi Marwah	WMRC009	0	2	2	0.99
Nugrus Block	Wadi Marwah	WMRC010	1	7	6	2.27
Nugrus Block		including	6	7	1	6.5
Nugrus Block	Wadi Marwah	WMRC011	8	16	8	2.07
Nugrus Block	Wadi Marwah	WMRC011	49	55	6	0.79
Nugrus Block	Wadi Marwah	WMRC013	13	28	15	0.72
Nugrus Block	Wadi Marwah	WMRC014	31	35	4	1.46
Nugrus Block	Wadi Marwah	WMRC015	5	7	2	1.02

ENDNOTES

Sampling and analysis

RC samples are collected at one-metre intervals, split using a three-tier riffle splitter and weighed, bagged, and labelled at the drill site.

All samples are submitted to ALS Minerals, a subsidiary of ALS Global. Sample preparation takes place at their laboratory in Marsa Alam. All samples are crushed to 70% passing -2 mm and then pulverised to 85% passing -75 µm. Barren quartz washes are passed through all crushing equipment at the start of every shift, between batches of samples, and every 20 samples during sample crushing. Pulverising equipment is subjected to a barren quartz wash at the start of every shift, between sample batches, every ten samples during sample milling, as well as when mill pucks are changed.

ALS Minerals then transport the samples to their analytical laboratory in Loughrea, Ireland for analysis by 50 grams fire assay with an ICP-AES finish. The chain of custodianship is maintained throughout the shipping process. Samples returning values over 10 g/t gold are re-assayed gravimetrically.

Quality Assurance and Quality Control

Check samples including uncertified blank samples, certified reference materials ("standards"), and field duplicate samples were inserted into the sample stream at a rate of 5 % each for a total of 15 check samples per 100 samples sent to the laboratory.

All assay results, including check sample results, are subject to standard QC before being captured into a Centamin-administered database.

Calculation of intercepts

Significant intercepts reported are calculated with minimum downhole lengths of two-metres using a cut-off grade of 0.5 g/t Au and including up to four consecutive metres of internal dilution. No top cuts are used. Internal intervals >5 g/t Au that occur within broader intercepts are reported separately as included intervals.

Mineralised intercepts are not true widths, but are presented as drilled, in other words, as apparent mineralised widths in the drill hole.

Qualified Person

Information of a scientific or technical nature in this document was prepared under the supervision of Qualified Person, Howard Bills, Head of Exploration at Centamin plc, for the exploration results.

The Qualified Person is an employee of the Company and is not independent of the issuer applying the test set out in Section 1.5 of NI 43-101. Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

The Qualified Person has verified the data disclosed, including sampling, analytical, and test data underlying the information or opinions contained in this announcement in accordance with standards appropriate to their qualifications.

FORWARD-LOOKING STATEMENTS

This announcement (including information incorporated by reference) contains "forward-looking statements" and "forward-looking information" under applicable securities laws (collectively, "forward-looking statements"), including statements with respect to future financial or operating performance. Such statements include "future-oriented financial information" or "financial outlook" with respect to prospective financial performance, financial position, EBITDA, cash flows and other financial metrics that are based on assumptions about future economic conditions and courses of action. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "believes", "expects", "expected", "budgeted", "forecasts" and "anticipates"." and include production outlook, operating schedules, production profiles, expansion and expansion plans, efficiency gains, production and cost guidance, capital expenditure outlook, exploration spend and other mine plans. Although Centamin believes that the expectations reflected in such forward-looking statements are reasonable, Centamin can give no assurance that such expectations will prove to be correct. Forward-looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and projections of the management of Centamin about future events and are therefore subject to known and unknown risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. In addition, there are a number of factors that could cause actual results, performance, achievements or developments to differ materially from those expressed or implied by such forward-looking statements; the risks and uncertainties associated with the ongoing impacts of COVID-19 or other pandemic, general business, economic, competitive, political and social uncertainties; the results of exploration activities and feasibility studies; assumptions in economic evaluations which prove to be inaccurate; currency fluctuations; changes in project parameters; future prices of gold and other metals; possible variations of ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; climatic conditions; political instability; decisions and regulatory changes enacted by governmental authorities; delays in obtaining approvals or financing or completing development or construction activities; and discovery of archaeological ruins. Financial outlook and future-ordinated financial information contained in this news release is based on assumptions about future events, including economic conditions and proposed courses of action, based on management's assessment of the relevant information currently available. Readers are cautioned that any such financial outlook or future-ordinated financial information contained or referenced herein may not be appropriate and should not be used for purposes other than those for which it is disclosed herein. The Company and its management believe that the prospective financial information has been prepared on a reasonable basis, reflecting management's best estimates and judgments at the date hereof, and represent, to the best of management's knowledge and opinion, the Company's expected course of action. However, because this information is highly subjective, it should not be relied on as necessarily indicative of future results. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements, particularly in light of the current economic climate and the significant volatility, uncertainty and disruption caused by the outbreak of COVID-19. Forward-looking statements contained herein are made as of the date of this announcement and the Company disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements.

LEI: 213800PDI9G7OUKLPV84
Company No: 109180

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SOURCE: Centamin PLC

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