QMSD Mining Co. Ltd.

QMSD Mining Co Ltd (“QMSD”) is a wholly-owned subsidiary of Doha-based Qatar Mining (“QM”). QMSD was created solely for the purpose of mineral exploration in Sudan and is headquartered in Khartoum. The company started formal operations in Sudan in April 2013.

QMSD currently holds title to two concession blocks in Red Sea State covering an area of 5,110 km2, Block 62 and the contiguous Block 62b to the south. QMSD maintains a permanent exploration camp in Block 62.

Amongst a number of high quality targets on these blocks, QMSD has discovered a major, new copper and gold-bearing PCD, hosting both oxide and sulphide mineralization.

A total of approximately 75,000m of RC and diamond drilling to date has taken place. A maiden MRe was completed in December 2017 which showed JO to be a significant PCD discovery in both tonnage and copper content. An upgrade to the resource was completed in May 2019 which demonstrated a substantial increase in both tonnage and copper/gold content. A PEA study commenced in June 2019. The current phase 4 drilling campaign (133,000m planned) continues and will provide the input to further resource upgrades and a PFS by late 2020.