Tulu Kapi DFS Update

DEFINITIVE FEASIBILITY STUDY UPDATE 
TULU KAPI PROJECT, ETHIOPIA 

KEFI Minerals (AIM: KEFI), the gold exploration and development company with projects in the Kingdom of Saudi Arabia and Ethiopia, is pleased to announce an update as regards the revision of the Definitive Feasibility Study (“DFS”) at Tulu Kapi, in light of additional drill hole and trench results from the Company’s field work since taking control of the Tulu Kapi project in Ethiopia.

HIGHLIGHTS

• The results of KEFI’s infill drilling and surface trenching support the Company’s structural interpretation and modelling of the orebody. This is significant as the Tulu Kapi project has complex geology/gold distribution and has required an equally complex methodology to allow interpretation for mine planning.
  • Reverse circulation (RC) infill drilling intercepted strong gold mineralisation at Tulu Kapi, with best results of 12m at 4.23g/t Au, 5m at 9.71g/t Au, 2m at 24.86g/t Au, 8m at 4.24g/t Au, 4m at 10.36g/t Au and 4m at 9.80g/t Au. More details are set out below.
  • Results of the surface trenching program at Tulu Kapi confirmed continuity of mapped mineralisation and returned new mineralised intervals, including 8.5m at 1.96g/t Au, 8.5m at 1.96g/t Au, 8.1m at 4.67g/t Au, 3.2m at 12.91g/t Au and 5.8m at 1.91g/t Au. More details are set out below.

Having now completed that field work and classified 90% of the mineral resources within the indicated category of the JORC Code (for reporting resources and reserves), the Tulu Kapi resource is now considered ready for updating after which it will be used for estimating ore reserves and finalising mine planning. 

Further information available in the attached announcement and linked map: Location_of RC and TR_sign intercepts