Pasofino getting to know the Dugbe gold project

Executive Summary

• Pasofino Gold provided an update on early‑stage exploration at the Dugbe gold project in Liberia, highlighting field visits to two new priority drill targets (Jadae East and DSZ) adjacent to the existing Tuzon and Dugdo F deposits.
• A portable auger drilling rig has been purchased to commence shallow‑auger hole drilling at Jadae East, and initial cored holes are planned for the DSZ target in late 2025 as part of a larger feasibility‑study‑driven program.
• The company reiterates its strategy to identify near‑surface satellite oxide deposits within an eight‑kilometre radius of Tuzon/Dugdo F to enable earlier, higher‑grade production once full‑scale mining commences (targeted construction start 2026).

Key Details

• Target Visits: Geological team completed field visits to Jadae East and DSZ targets on the Dugbe shear zone; both areas have never been drill‑tested.
• Jadae East: Mapped seven artisanal mining zones; target lies north of the shear zone, south of a circular magnetic anomaly, under up to 5 m laterite cap. Planned auger hole drilling to sample saprolite and locate bedrock gold source. Portable petrol‑driven auger rig purchased and delivered.
• DSZ Target: Identified from 2021 soil geochemistry; trench TZTR091 exposed fresh bedrock with a 36 m channel returning an average grade of 0.6 g/t Au; outcrop samples up to 2.0 g/t Au. Two‑to‑three cored holes slated for October 2025, coinciding with the feasibility‑study update drilling program.
• Resource Context: Tuzon deposit hosts an indicated resource of 2.4 Moz Au at 1.40 g/t, part of a combined measured & indicated resource of 3.3 Moz Au at 1.37 g/t for Dugbe (incl. Dugdo F).
• Exploration Goal: Identify and quantify new near‑surface oxide deposits within an 8 km radius to feed higher‑grade material into the mine plan before full production.
• Future Plans: Full development drilling program scheduled to commence during construction period; feasibility study update underway to support financing for a 2026 construction start.
• Qualified Person: Exploration results prepared and approved by Andrew Pedley, qualified under NI 43‑101.

Notable Quotes

“This early stage exploration work is necessary to prepare several of these key targets for drilling… All of the work done to date have shown very positive and encouraging results… Our strategy is to identify, quantify and introduce new near surface satellite oxide deposits within an eight km radius… so they can be developed into production areas, sequencing incremental higher grade material earlier in the mine plan.” – Brett Richards, CEO, Pasofino Gold Ltd.