Company

Forward Africa Resources S.A.

Licence

F.A.R. Licence No. 223

Location

Kindia & Dubreka Préfecture, Guinea

Activity

Bank Feasibility Study

Forward Africa Resources S.A. (“F.A.R.”) a wholly owned subsidiary of Anglo-African Minerals plc, owns the rights to a highly prospective exploitation licence with a total area of 170 km² located in the Dubreka/Kindia Prefecture, some 170 km North-East of Conakry and some 25 km from the existing rail spur that connects the Kindia mine with the Port of Conakry.

In March 2015 a Mineral Resource statement (MRE) has been prepared independently by SRK Consulting (UK) Ltd ("SRK") in accordance with the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves, The JORC Code, 2012 Edition ("JORC" or the "JORC Code").

Completion of a Measured Mineral Resource Statement in line with JORC Code (2012) was completed in November 2015 by SRK Consulting.  The Measured Mineral Resource for the three of the five plateaux in the FAR Licence (Samaya , Elevation and Momo) highlights the following result:

• Measured Mineral Resource of 27.0 million tonnes
• Indicated 11.0 million tonnes
• Inferred 36.0 million tonnes
• Total 74.0 million tonnes averaging 39.9% total alumina and 4.8% total silica.

Another drilling campaign was undertaken in May-June 2015, which consisted of 150x150 m spacing on the Samaya and Elevation plateaux, to upgrade the existing resource to a higher confidence Measured Mineral Resource category. A total of 356 auger holes (3000 m) and 9 diamond holes (90 m) were drilled.

A feasibility Study and an Environmental and Social Impact Assessment (ESIA) was completed in 2016.

FAR was granted two exploitation licences in April 2017 - one for each of Momo and Samaya/Elevation plateaux - to export bauxite at a rate of 3 to 5 million tonnes per annum with start-up planned by the end of 2018.