Broad High Grade Gold Intercepts From Drilling At Diba Project

DIDCOT, UK - Altus Strategies Plc reported encouraging initial results from the ongoing 10,000m Reverse Circulation (RC) drilling program at its 100% owned Diba gold project located in western Mali. Diba hosts a shallow-dipping near-surface gold deposit and several other prospect areas.

Highlights: Initial results from 10,000m RC drilling program at Diba gold project in western Mali; Intersections from Diba Deposit include: 3.34 g/t Au over 60m from 17m (including 13.60 g/t Au over 9m); 4.48 g/t Au over 15m from 22m (including 7.18 g/t Au over 9m); 22.11 g/t Au over 6m from 89m; and 2.51 g/t Au over 12m from 3m (including 3.32 g/t Au over 7m); Two new zones discovered at the Diba NW prospect, 800m northwest of Diba Deposit; A Mineral Resource Estimate ("MRE") for the Diba Deposit comprises: 4,834,000 tonnes at 1.39 g/t Au for 217,000 ounces in the Indicated category; and 5,479,000 tonnes at 1.06 g/t Au for 187,000 ounces in the Inferred category; Further assay results from the balance of the drilling program anticipated shortly; Follow up drilling planned for Q2 of 2021 to include currently undrilled prospects; and Diba is strategically located in a world-famous gold belt that hosts numerous open-pit mines.

Steven Poulton, Chief Executive, said, “We are delighted to report on the excellent results returned from the ongoing 10,000m RC drilling program at the Diba gold project in Western Mali, including 3.34 g/t Au over 60m from 17m downhole from within the Diba Deposit. Separately we are highly encouraged by intercepts outside the margins of the current MRE envelope, indicating along strike and down-dip continuation, including 4.48 g/t Au over 15m from 22m on its western side and 22.11 g/t Au over 6m from 89m on its eastern side. The current drilling program is also testing satellite prospects to the main Diba Deposit. Initial results received from the Diba NW prospect indicate the discovery of two potentially significant, shallow-dipping, and consistent zones of mineralization totaling approximately 750m in strike length with intersections including 0.87 g/t Au over 21m from 79m. A number of priority prospects have not been tested in the current program, and we anticipate that these will be drilled in a follow-up program once physical access to the drill rig is complete. In the meantime, we look forward to updating shareholders on further assay results from the current program as they are received."

The RC drilling program is currently being undertaken by Capital Drilling Limited and, once complete, will comprise approximately 110 holes totaling approximately 10,000m. Approximately 4,800m (over 52 holes) is being drilled in and around that part of the Diba Deposit subject to the MRE, testing the potential down-dip and along strike extensions, as well as infilling areas to increase the resource confidence. Approximately 5,200m is being drilled to test up to five priority prospects each located within 3km of the Diba Deposit.

The results for assays returned for the first 51 holes covering a total of 4886m of drilling. These holes were drilled at -60 degrees inclination and ranged between 50m to 270m in length. Drilling has been orientated perpendicular to the strike of the Diba Deposit and the interpreted structural orientation of the target areas.

The Company intends to incorporate the results from the current drill program when all have been received and compiled into an updated MRE for the Diba Deposit. Diba currently hosts an MRE of 217,000 ounces at 1.39 g/t Au (Indicated) and 187,000 ounces at 1.06 g/t Au (Inferred) in both oxide and fresh domains. The MRE was previously reported, titled "Significant Gold Resource at Diba Project, Western Mali").