• Operator converts 320,000 ounces to indicated category

• Pre-Feasibility Study due by 2026

Indicated mineral resources at the Boundiali gold project in Côte d’Ivoire have increased by 53% to 920,000 ounces, up from the previously reported 600,000 ounces, according to an update from operator Aurum Resources on Monday, Oct. 6. The resource upgrade marks a significant advance for the project, bolstering confidence in its potential.

Indicated resources are the second-highest confidence level in mineral classification, ranking below "measured" resources and above "inferred" resources. Aurum's prior comprehensive estimate, released last August, put Boundiali's total resources at 2.41 million ounces, comprised of the 600,000 indicated ounces and 1.81 million inferred ounces.

Monday's announcement reflects the conversion and addition of 320,000 ounces into the higher-confidence indicated category. Consequently, the project’s inferred resources have decreased to 1.51 million ounces. This result stems from the ongoing 100,000-meter drilling program at the site and supports Aurum’s development plans, paving the way for the planning of a future mine at Boundiali.

Based on this upgraded estimate, the company plans to submit mining permit applications for the asset's BST, BD, and BM deposits.

"These higher-confidence resources not only de- risk our project but also allow us to submit mining licence applications on BD and BM to support our BST mining licence application and advance our goal of developing an open-pit mining operation at Boundiali," the company said in a note.

In parallel with the permitting process, Aurum is currently conducting a Pre-Feasibility Study (PFS) for Boundiali. The study, expected by the first quarter of 2026, is designed to confirm initial viability indicators, particularly construction costs and the production profile of the mining project.

The operator still needs to further improve Boundiali's resource profile by converting indicated resources into the highest-confidence "measured" resources and subsequently into mineable reserves, a necessary step before justifying the start of production. Exploration work continues, providing another update on the project's total mineral resources of 2.41 million ounces by 2026.

Aurel Sèdjro Houenou