February 2020

Growing Gold Producer in

Kazakhstan

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2Company at a Glance

Raygorodok – third largest gold deposit

in Kazakhstan located in Burabay district

of Akmola Region

Resources: 6 M oz according to JORC

Area: 67.7 sq. m.

Two pits: South & North

Mine Contract Term is estimated until

2021 (the Company has the exclusive

renewal right)

The RG Gold Company operates the development of the largest

gold ore deposit of Raygorodok based upon the Exploration

Contract No. 486 of 19/06/2000 followed by gold mining within

Novodneprovskaya Area of Burabay District, Akmola Region,

Kazakhstan.

Currently, RG Gold processes 2 MTPA of oxide ore using the

heap leaching method mined at the North and South

Raygorodok deposits.

Starting from the 3rd quarter of 2022, the sulphide ore is

expected to be processed at a new Process Plant using the

carbon-in-pulp (direct cyanidation) method.

The results of ongoing exploration work confirm the presence of

potential gold reserves in the explored territories.

Russia

China

Europe

Astana

Vassilkovskoye

(12 m oz)

Bakyrchik

(10 m oz)

Almaty

Raygorodok

(6 m oz)

Settlements

Road

to Shchuchinks

South & North

Raygorodok

3Mine Infrastructure

The Raygorodok is located along a large gold ore belt near the largest

gold deposits in Kazakhstan (Vassilkovskoye, Aksu, Zholymbet) with a

well-developed infrastructure

Site access is carried out by the Shchuchinsk - Nikolaevka asphalt road

The nearest train station is in Shchuchinsk (70 km)

The process site is power supplied via the Shchuchinsk - Nikolaevka

35 kV overhead line

The ongoing pit mining and hydrogeological drilling confirm the

presence of significant reserves and groundwater inflow

In 2014, a new 220-bed shift camp was built with all necessary

amenities. In 2017, the shift camp was expanded by 140 additional

beds.

The engineering design has been completed with further approval by

the State Expert Authority of the 220 kV HV overhead line with a length

of 66 km equipped with the required substations to connect the future

Process Plant to the national power grid as well as a water pipeline

from the Balykty reservoir.

ORE TYPE ORE, MT GRADE, G/T

RECONCILED

RESOURCES,

K OZ

ORE, MT GRADE, G/T

INFERRED

RESOURCES,

K OZ

TOTAL GOLD,

K OZ

SOUTH

RAYGORODOK

Oxide 2.3 0.7 50 0.8 0.5 10 60

Primary 84.5 1.2 3,140 22.4 1.0 760 3,900

Total 86.0 1.1 3,190 23.2 1.0 770 3,960

ORE TYPE ORE, MT GRADE, G/T

RECONCILED

RESOURCES,

K OZ

ORE, MT GRADE, G/T

INFERRED

RESOURCES,

K OZ

TOTAL GOLD,

K OZ

NORTH

RAYGORODOK

Oxide 6.0 0.7 130 2.1 0.6 40 170

Primary 50.4 1.0 1,530 12.6 0.9 340 1,870

Total 56.4 0.9 1,660 14.7 0.8 380 2,040

TOTAL 139.6 1.0 4,850 42.7 0.9 1,150 6,000

4JORC-based estimates of the resources amounted to 6 m oz (March 2018)

According to JORC-based resource estimates conducted by AMC Company in March 2018, the resources increased by

1.4 m oz compared to the previous estimates. The increase was due to additional drilling data of 19,204 long meters.

AMC is currently calculating the reserves under the DFS (Bank Feasibility Study).

5Process Flow Sheet – Heap Leach

Mining of orefrom pits

Ore dried and sortedat ore stockpiles

Crushing and agglomeration of ore

by a 3-line crushing and screening unit

Conveyors move agglomerated oreonto heaps that are sprinkled

with a 0.5 mg/L cyanide solution

Pregnant solution with dissolved gold is pumped

from the heaps to the hydrometallurgical circuit

Dissolved gold is adsorbedon activated carbon (adsorption)

Gold is recovered from carbon to solution by elution

Electrowinning: gold and associate metals settle on steel wool

Wool cutting and metal smelting. Final product – Dore alloy with 80-90% gold

content

Outsourced

6

A 5 Mtpa Primary Gold Ore Processing Plant is scheduled for operation by 2022

0.7 М ton1.3 М ton

20162014 2022-23

5.0 М ton

2018

2.0 М ton

$11 M

$25 M

$30 M

$100 M

Heap Leach CIP

18 K oz.

Gold production

33 K oz.

45 K oz.

150 K oz.

Capacity

7Social and Economic Effects of the Project

Total investment in the Project will reach 105 billion KZT (excluding VAT)

Over 1,000 permanent jobs will be created

Tax payments will be more than 20 billion KZT per annum

New infrastructure

Staff trained and professional competence and skills of the local staff improved

A boost for local small & medium-size businesses

8Raygorodok CIP RG Gold Project: Process Schematic

9Company’s Profile

The taxes paid by the Company over the past 5 years add up to more than 24 billion KZT.

The Company directly employs more than 770 people as own staff as well as over 300 people of contractor

organizations.

The Company allocates over 100 million KZT annually for social programs.

The following was done as part of the social care program:

Rehabilitation of regional automobile roads in 2018

Constructions of a new pipeline and a water tower in Raygorodok village in 2017

Rehabilitation of the school buildings in Uspeno-Yuriyevka and Nikolayevka

Grants to the best school graduates in the region for education at Narkhoz and local higher education institutions

Festive events for local population on a regular basis

T H A N K Y O U

www.rggold.kz

Thank you!