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TRUE GOLD KARMA DEPOSIT (2.7Moz)

20 June 2014

KARMA DEPOSIT

Project Location and Access

Karma gold project consists of six contiguous permits.

The project is located in the central ‚Äďnorth region of Burkina Faso, about 195km North-west¬†of Ouagadougou the capital city.

The project is accessible by paved road to Ouayigouya (180km) and further 15 km laterite road to site.

Project history

–¬†¬†¬†¬†¬†¬†¬†¬† Historically, the Goulagou property was explored by Channel Resources from 1994-1999. The Goulagou ¬†1 and 2 was discovered by Channel Resources and Placer Dome in the late 1990’s and then expanded by St Jude Resources (2002-2005).

–¬†¬†¬†¬†¬†¬†¬†¬† Riverstone commenced exploration in Burkina Faso in 2003 with the acquisition of the Rambo property. Later the Company has acquired additional exploration permits throughout the country: Karma, Bissa East and Ligidi licenses.

–¬†¬†¬†¬†¬†¬†¬†¬† Golden Star Resources acquired the Goulagou property when it completed acquisition of St. Jude Resources in 2005.

–¬†¬†¬†¬†¬†¬†¬†¬† An independent resource estimate report on GG1 and GG2 dated January 16, 2007 was prepared for Golden Star by SRK Consulting (UK).

–¬†¬†¬†¬†¬†¬†¬†¬† ¬†In October of 2007, Riverstone acquire the Goulagou and Rounga properties contiguous with Riverstone’s Rambo and Kao permits from Golden Star.

–¬†¬†¬†¬†¬†¬†¬†¬† In May 2009 Wardrop Engineering completed an initial independent resource estimate for the Karma Project indicated resource of 820,500 ounces and r inferred resource of 320,300 ounces.

–¬†¬†¬†¬†¬†¬†¬†¬† Since that time, a new discovery has been made at the Nami.

–¬†¬†¬†¬†¬†¬†¬†¬† An independent NI43-101 resource estimate was released in January 2012 with an indicated resource of 1.63 Moz and inferred resource of 0.566 Moz.

–¬†¬†¬†¬†¬†¬†¬†¬† November 19, 2012, Riverstone announced the commencement of a definite Feasibility Study on the Karma Project.

–¬†¬†¬†¬†¬†¬†¬†¬† February 22, 2013, Riverstone Resources announces that the Company has received TSX Venture Exchange approval for the Company to change its name to “True Gold Mining Inc”. The Company trading symbol on the TSX Venture Exchange becomes “TGM”.

–¬†¬†¬†¬†¬†¬†¬†¬† January 27, 2014, True Gold announces that the Company has received an Exploitation (mining) Permit to develop and operate the Karma Gold Project.

–¬†¬†¬†¬†¬†¬†¬†¬† May, 22nd 2014, True Gold announces that a ground breaking ceremony was held at the Karma Project site to mark the start of construction of the Karma Gold Mine.

Project Geology

The Karma Gold Project area occurs within an individual segment of the NNE trending Hounde Pre-Cambrian aged supracrustal Greenstone Belt, in the ENE inflection of the belt and near the junction with the Boromo-Goren belt. The area is underlain by volcanic and volcanosedimentary formations, intruded by several plutons, and are traversed by a major NE trending shear zone. The dominant trend is northwest to north‚Äďnorthwest.

–¬†¬†¬†¬†¬†¬†¬†¬† The Goulagou 1 and 2 deposits are E-W trending, steeply-dipping series of lenses. They are hosted by a mixed sequence of sediments containing fine quartz stringers between two large intrusive masses.

–¬†¬†¬†¬†¬†¬†¬†¬† The Kao deposit is a near-surface, gently-dipping tabular zone which dips 25 degrees to the east.

–¬†¬†¬†¬†¬†¬†¬†¬† ¬†The Rambo deposit is at the contact of intrusion with sedimentary package. It is hosted in mixed sediments and volcanics along the southern margin of a major granodiorite intrusive.

–¬†¬†¬†¬†¬†¬†¬†¬† The Nami zone is folded. The mineralization is carried by quartz vein in granitic area with associated brecciated zones. It is hosted entirely in intrusive rock.

DEPOSIT TYPES

The gold mineralization discovered to date at Karma is near-surface oxidized material.  The project is made of five gold deposits, which are located within a few kilometres of each other:

–¬†¬†¬†¬†¬†¬†¬†¬† ¬†Goulagou I (GGI): Lens of mineralization with quartz stringer.

–¬†¬†¬†¬†¬†¬†¬†¬† ¬†Goulagou II (GGII): Lens of mineralization with quartz stringer

–¬†¬†¬†¬†¬†¬†¬†¬† ¬†Kao : flat quartz bearing stacked mineralized zone

–¬†¬†¬†¬†¬†¬†¬†¬† ¬†Rambo: Sheared volcano sediment at intrusion contact.

–¬†¬†¬†¬†¬†¬†¬†¬† ¬†Nami : Breciated and folded zone in sheared granite.

MINERALIZATION

–¬†¬†¬†¬†¬†¬†¬†¬† Mineralization at Goulagou I (GGI) is hosted by sheared volcano sediment at intrusion contact. It extends over 2,200 metres east-west.

–¬†¬†¬†¬†¬†¬†¬†¬† Mineralization at Goulagou II (GGII) extends over 2,500 m east-west with higher-grade mineralized shoots. It is hosted by a mixed sequence of sediments containing fine quartz stringers between two intrusive.

–¬†¬†¬†¬†¬†¬†¬†¬† The Kao deposit hosts a gold zone extending 1,400 metres northeast-southwest and at least 900 metres down-dip to the east. The Kao Main Zone is an area of flat lying near surface stacked mineralized zones¬† which dips 25 degrees to the east. Abundant sulphides as well as visible gold grains have been noted.

–¬†¬†¬†¬†¬†¬†¬†¬† Rambo is a 350 m long gold deposit along the southern margin of a major intrusive.

–¬†¬†¬†¬†¬†¬†¬†¬† Nami have stacked mineralized zones, similar to Kao that have been traced for 500 meters. The mineralization is carried by quartz vein in granitic area.

 Mineral Resources

  • A resource estimate for the whole karma project including the 5 deposits named Goulagou I, Goulagou II, Kao, Rambo and Nami was included in the NI 43-101 Technical Report titled “Technical Report and Resource Estimate on the Karma Project, Burkina Faso, West Africa”.
  • Results of this NI 43-101 Global Mineral Inventory Resource returns indicated resources of 1,773,532 Ozs Au and Inferred Resource of 958,547 Ozs Au.

Source: Press release dated January 9, 2012

Deposit Category

Cut Off Au g/t

Tonnes

Grade (g/t)

Au–oz

   
WHOLE KARMA Indicated

0.3

54,068,987

1.02

1,773,532

WHOLE KARMA Inferred

0.3

37,350,935

0.798

958,547

WHOLE KARMA Total

0.3

91,419,922

0.929

2,732,079

NB: Some of the figures are modified from company public data

www.truegoldmining.com

20 June 2014

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