F y Cy R Lm ACN 140 087 261 353 Rkby R Sb WA 6008 www.y.m. 9 h A 2018 CANYON GRANTED THE MINIM MARTAP BAUXITE PROJECT IN CAMEROON HIGHLIGHTS: Th Gvm f Cm h Cy x m m h Mm M Bx Pj Cm Pv w f h Pj f vy, hh, w my bx Th v w JORC C (2004) f 550MT v f 45.5% A2O3 2.06% SO2 1 I 88MT v 41.8% A2O3 1.3% SO2 If 466MT v 46.2% A2O3 2.2% SO2 Th Cmy qky Mm M JORC C (2012) m M R mm -fby wk. Vy hh A2O3, w my z f wh h x P fy h Th Mm M Pj mmy j Cy Bk Pj, wh f bx h Ex f f h h fy h h Pj vm m Pj m Wh w w h f hh qy bx, h Mm M Pj w y hh qy bx h y Th D f Cy R L (ASX: CAY) h, f f wh h Gvm f Cm, h Cmy h b h x m h m h Mm M Bx Pj Cm ( Mm M h Pj ). Th Mm M Pj bx h Amw f Cm, Cy x Bk Bx Pj. Th Mm M Pj m w, my h N Mm M, whh wh 25 km f h h. Th f h m 1349 km 2. 1 JORC Cy Sm: Th R/Ex R hv b wh h JORC C 2012; Cm P h ff wk h R/Ex R wh h JORC C (2012); b h fw fh v / x wk h h f h R/Ex R my b wh h JORC C (2012);h h m h f Cy h q h y by f h fm w Ex R; b, Cy h y v h fm w Ex R hf b, h. Th h x m v f h y mb f f wk mmm h wh h Cmy vm.
F y Pv wk m by Cy R h Bk Pj, mm h x wh h Mm M Pj, h v h Cmy f h hy hm h f h bx. Th bx y hh m, w v, hh bb, w bhm w h m. F 1: L m f h Mm M Bk Bx Pj h Mym K Pj Cm. Th m hv b f h y hv m m wk h w wh h my f h j vm. A mmy f h mmm wk mmm : Y O Rvw x, m vm Cmm wk Cmm, vm, mmy f Cmm x Df JORC (2012) m Y Tw O x Cmm -fby h m, m, f, vm, mmy m f Y Th F y q Cm fv fby y Cm m v b wh h Gvm
F y Th Mm M Pj I 2009, h v w f h Mm M Pj JORC C (2004) m f 550MT v f 45.5% A 2O 3 2.06% SO 21, wh h fw f: I 88MT v 41.8% A2O3 1.3% SO21 (fm h N Pm) If 466MT v 46.2% A 2O 3 2.2% SO 2 1 (fm h Mm M Pm) Th f wk h w m 2009 by SRK C (A) f h v w h h b by. Cy bv h h wk w m hh h Cmy x b b h f h v wk, fh x b fm m v f q, h f bx JORC C (2012) m M R wh 2018. Th v m y xmy 40% f h b bx x wh h m f m vy hh, w my z h x. I Cy vw, h Mm M ff h fy h f fy b vy hh, w my z wh h. Cy w mm v fh f h z fy vy hh- z wh h. 1 JORC Cy Sm: Th R/Ex R hv b wh h JORC C 2012; Cm P h ff wk h R/Ex R wh h JORC C (2012); b h fw fh v / x wk h h f h R/Ex R my b wh h JORC C (2012);h h m h f Cy h q h y by f h fm w Ex R; b, Cy h y v h fm w Ex R hf b, h. Pj If Th Mm M Pj by v xmy h Pj h x f D. I, Cy h wh h Gvm f Cm x f h x h w Kb D S P, whh xmy 130km fm h x. Th Gvm v fby f h x h y f h h h x f. Wh h Bk Bx Pj v h f y, Cy h b wk wh Cm, SA, h h Gvm f Cm h - y f h x.
F y F 2: R h w N, h Mm M Pj F 3: Eh wk h Kb P f h w hhwy
F y F 4: Th whf h bh f h Kb D S P Bf Hy f h Mm M Pj Th Mm M Pj m w, my h Mm M N h Amw f Cm. Th Cm Gvm M Gy v ( MGD ) v h Mm M N 1958. Th w y by MGD h by BRGM (Th Fh G Svy) bw 1958 1961. Ex m bw 1969 1972 by SEBACAM (S E Bx Cm), h bw h Cm Gvm Fh my, G Phy (Phy U Khm). Cm Am L S (CAL), f w w x m v h Mm M N 2006. Sym x 2008 2009 wh y m bh Mm M N. Th m w by SRK C bhf f CAL m 852 h f 11,358m f 14 x bh h Mm M N. Th x wk by CAL b f h R v m wh h JORC C (2004), - h JORC C 2012. I 2016 h m m h Pj w h f Cm. F 5: A y bx h Mm M Pj
F y Cy R M D, Ph Gh, h Th Mm M Pj vy, hh, w my bx h h h h h bx h D P vy h w Kb w. W bv h h qy f h bx wh h Pj h b f mk h Mm M Pj vy x fm y f Cy R. Th vw by h Cmy bf h h w b m ww f f hh bx h Mm M Pj y y bx h m. Cy h h h bf f wk Cm f h f hf y, my h Bk Bx J V Pj wh A S, whh x h Mm M Pj. Th h v wh v f h, h bx h f f h Pj. W hv why w mb wkf h wk m mmy. Cy R hk h Gvm f Cm f h y v h Mm M Pj. Av h Pj Cy h mb m Ph Cm v h f h Pj m v vm mb. Th Cmy w b mmy h fw wk; U h v m JORC C (2012) m M R. Th my w wk wh SRK A vw fm h v x m fy q wk. Ex v y m, Rv C, A x. I qfy h z f h, h wk w hh z f f wh h. Cmm fby f m, fy ffk. Cmm mmy kh fm hm f h w wh v vm f h Pj. Th Bk Pj I Dmb 2013 Cy m q 75% f h Bk Bx J V Pj fm A S P (AIM:ALS & TSXV:ALTS). Th Pj h Mm M Pj, h m f h x wh h Mm M Pj. S h m h Cmy h m xv x m h v bx x h Bk J V Pj. Cy wh A S, mb h Bk Mm M Pj. L P Ov h h y Cy h b wh h Gvm f Cm h Mm M Pj. Th Cmy M S A wh h Gvm v h my v f Gvm vv h.
F y Th Cmy y M A f m f Cy h h f f h Pj Cy h f f mb f j m: Sbj hh v, M A w b : 1. 30,000,000 y Cy h fw hh v. 50% f h h w b vy w f 6 mh f h. 2. 20,000,000 y Cy h 12 mh f h f m. 50% f h h w b vy w f 6 mh f h. 3. 20,000,000 y Cy h h m x f f M Cv wh h Gvm f Cm f h m f h Mm M j. A f M Cv,, h f m f h Pj, x m h h Pj, mmm mym, vm mmy m h m wh h Gvm f Cm h h m f h Pj. 4. 30,000,000 y Cy h fw h f M Pm, h fm f f m f h F Ivm D by h B mm m. A m m y b by h Gvm f Cm h x f h M Cv, Bkb Fby Sy (BFS) b by h Gvm h f f f f h m. Cm P Sm Th fm h m h x b fm fm h Mm M-N Bx D Ex Pm R Am by SRK C (A), Smb 2009 vb m by D Ax Shw,. Th fm h m f h vb y f h Mm M Pj. D Shw h P G M D f KBMEC Lm v m my h U.K. (Cmy Nmb 9023614). D Shw Mmb f h A I f G (AIG) h ff x whh v h y f m y f h vy whh h k qfy Cm P f h Dmb 2012 f h A C f R f Ex R, M R O Rv (JORC C). Eq: Ph Gh M D T: +61 (0)8 6382 3342 E: h@y.m.
F y JORC C, 2012 E Tb 1 S 1 Sm Thq D N: D f h 2009 CAL, m y m k fm h Smb 2009 SRK C (A) Py L O R Sm Mm M-N Bx D. Ex Pm R Am. Cy R h v h f h fm h bv h fm f. Th fm y fm h q. C JORC C x S m h q D h q N qy f m ( h, m h, f y mm h m v, h w h mm, hh XRF m, ). Th xm h b k m h b m f m. I f m k m vy h b f y mm ym. A f h m f m h M h Pb R. I wh y wk h b h w b vy m ( v w b 1 m m fm whh 3 k w v 30 h f f y ). I h m x my b q, h wh h h h h m bm. U mm m y ( bm ) my w f fm. D y (, v, h hmm, y b,, Bk,, ) ( m, b, h f m, fm b h y, whh f, by wh mh, ). Cmmy A m h wh h SRK (2009) m. Cy h y m. Th m h mm by CAL (2009) w v j wh SRK h mxmm v w b hv by h wk. D mh f m w wh f bx x. Th z f m v m (x.. 10 k), h m vy (>90%) h mh f m q v x m / m b. F vy hm m, h bx, wh mxmm z f 10 mm, xmy 1 k h v v m. A m fm Mm M w 1 2 k wh ff. A N m w wh. Sm w h v -2mm fh. Th h CAL (2009) m RAB h Mm M wh HQ (66mm m) h w h. C w y v hk h wk m f h y mm. A h N w k W A C. Tw v h w h B P.
F y C JORC C x Cmmy D m v y L S b - m Mh f h m v. M k mxm m vy v f h m. Whh h x bw m vy whh m b my hv f / f f/ m. Whh h m hv b y hy v f M R m, m m. Whh qv qv. C (, h, ) hhy. Th h f h v. If, whh w whh q, hf k. If -, whh ff, b m, y, whh m w y. F m y, h, qy f h m hq. Qy f bm mxm vy f m. M k h h m v f h m, f f f A x. 10 k/m f wy m wh bx k h. Th m w m fm h fm h v h h m w h hh (ff Mm M N) 1 2 k. 24 h w by CAL. Av vy w 81% hh v fm b 50% h f h m 100% by h. Axmy 20 30% f h w x bb bf v v w. G f m w m f w RAB h. Chk f hw y hw f b. A hw (.. h qv m h h m). B f h, h f f 10% w h h x f h. R h m hk y f h bx b mmy hhh v. Th hy, f,, hy, h, hmy f h (EOH) h f h A, RAB, m w. Dy y mm w h HQ h f. Ux h w 9 m fm h G, A Rym x. D w hf wh m bh w. O hf w bm f m h h hf f hv. Sm f: y h m bf w h h v f ; m w h by 15 m jw h v -2 mm; h m w v 500 m w h wh k v 100 m; f hm by h m h, h m b m hk v. A 100 m w vy my -b b; f by qy
F y C JORC C x Cmmy /-hf m. Whh m z h z f h m b m. h q m Q y f y Th, qy f h y by whh h hq. F hy, m, hh XRF m,, h m m h y m mk m, m, b f h v,. N f qy (, bk,, x by hk) whh b v f y ( k f b) hv b bh., vy 40 h m, 100 m. O m h q f m b y h h y hk by; h m k fy b v fy m, wh h h y by. Tw bk m w h h. Th w D Av 80:20 D- Sm B h hh m h b. A b f ISO 9000 bk h wk. B m w bm h b f b w bv. F vy hm m, h bx, wh mxmm z f 10 mm, xmy 1 k h v v m. Sm fw f bx, w k v. Th y, v h f qm f bx h, w by b b wh v k x bx y. Ay mh m wh h y. Th x f qy m w ff b y. Chm y by w by bm XRF m h by (Gy Ph) f -y. F XRF y, f ff w bw b. Bmb w hy ff bw
F y C JORC C x Cmmy b y V f f m Th vf f f by h v my. Th f w h. Dm f my, y, vf, (hy ). D y jm y. BRDC Gy m fm ff x w y h by. D fm b w w wh b m. D XRF bmb m w bm Gy, Ph f y. G f m w m f w RAB h. Chk f hw y hw f b. Sy f h m, h f y, mm w by SRK (2009) hv b. Th w jm f y hh hh BRDC h Sw G w wh b m. Th w f b fm h by.
F y C y JORC C x Cmmy L f D Ay qy f vy h ( w-h vy), h, m wk h M R m. Sf f h ym. Qy qy f h. D f f Ex R. Whh h b ff bh h f y f h M R O Rv m () f. Whh m m h b. A vy wk h UTM WGS-84 - ym. Svy bh mk w. Hh GPS v w. Th m w h ymm b whby h hw v w mh h h h. A b fm h f y wh w. A h Mm M x, w m m 500 m x 250 m h. Th h b wh h 500 m v wh h 250 m v. Th h f h h x N w xmy 125 m () x 250 m (b) wh 125 m h Sm x b. Ay, h, f 16 h w m. Th w 50 m h Mm M b f 16 h 10 m w
F y C JORC C x Cmmy b O f Whh h f m hv b m f b h x whh h kw, h y. If h h bw h h f ky m hv m b, h h b f m. Sm. Th m w h ymm b whby h hw v w mh h h h. Th w v f m b.
F y C JORC C x Cmmy S m y A v w Th m k m y. Th f y vw f m hq. A f m w h h b w m hk. D m h, h m w k M. P m w k fy b v fy m, wh h h b f y. A h m v. Sy f h m h h f y by SRK (2009) hv b. Cm f m hw h h f b fm y f h b wh b m.
F y S 2 R f Ex R (C h y h.) C JORC C x Cmmy M m Ex by h Gy Ty, f m/mb, wh m m wh h h j v, h, v y, v, h, w k vm. Th y f h h h m f wh y kw mm b h. Akwm f x by h. D y, y f m. Th Mm M # AR000476BIS (499 km 2 ) Cm Cm S.A. 1 A 2018 f 3 y. Th Mk # AR000477BIS (422 km 2 ) Cm Cm S.A. 1 A 2018 f 3 y. Th N # AR000478BIS (428 km 2 ) Cm Cm S.A. 1 A 2018 f 3 y. Cm Cm S.A. 100% w by f Cy R Lm. Th Cm Gvm M Gy v ( MGD ) v h Mm M N 1958. Th w y by MGD h by BRGM (Th Fh G Svy) bw 1958 1961. Ex m bw 1969 1972 by SEBACAM (S E Bx Cm), h bw h Cm Gvm Fh my, G Phy (Phy U Khm). Cm Am L S (CAL), f w w x m v h Mm M N 2006. Sym x 2008 2009 wh m bh Mm M N. Th m w by SRK C bhf f CAL. Th x wk by CAL b f hwv h R v - h JORC C 2012. I 2016 h m m h Pj w h f Cm. Th Mm M-N bx fw b f h N (Amw) P. Th bx fm vy f x y fm h. Th bx m h v vy h f f h x. Th bx m h hz f h f. I m f x hyx f mm wh m f m. Bx v wh h A2O3 x h F2O3 h h fm f k v. Th bx hz yy v hk fm 3.0 m v 30.0 m y h h f. Th bm 2.0 m 3.0 m f h hz m fb m ff by h f
F y C JORC C x Cmmy D h Ifm D mh Rh bw m wh h Dm B A mmy f fm m h f h x b f h fw fm f M h: h f h h v RL (R Lv v bv v m) f h h zmh f h h w h h h h h. If h x f h fm jf h b h h fm M h x fm h f h, h Cm P h y x why h h. I Ex R, wh v hq, mxmm / mmm ( f hh ) -ff y M h b. Wh h h f hh h f w, h f h h b m y xm f h h b hw. Th m f y f m qv v h b y. Th h y m h f Ex R. If h my f h m wh h h kw, h b. If kw y h w h h, h h b m h ff ( w h h, wh kw ). A m (wh ) b f h b f y f vy b Th h, b b m vw f h vw. Wh mhv f Ex R b, v f bh w hh / wh h b v m f Ex R. w b. 2009 CAL m F x v by h x m. Mm M x: D, Mh, A, B, A, Rym, E, A, Y, A G. N x: Sm, Jh B. T m: 852 h, 11,358 m Cm h y w f m. Th fw ff w y h vb h f: 3% SO2 30% A2O3 4% SO2 40% A2O3 5% SO2 50% A2O3 C w m f h LOI m fxby f w w f h LOI w bv 20%. Th bx hz h w vy v x b hk. I h by f h. N b
F y C JORC C x Cmmy Oh bv x Fh wk Oh x, f mf m, h b (b m ): bv; hy vy ; hm vy ; bk m z mh f m; m ; bk y, w, h k h; m b. Th f fh wk ( f x h x - - ). Dm y hhh h f b x, h m f, v h fm mmy v. N b Cy mm vw m m h j v h x 3-12 mh. P h v, x my b k h j.