Katoro Gold : Corporate Presentation July 2020

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ABOUT KATORO GOLD PLC

Katoro Gold Plc is an AIM quoted focused gold and mineral exploration and development company.

It currently has 2 projects in Africa and aims to further diversify its portfolio through the acquisition of new projects. It's strong management team with significant in- country and sector experience is key in this strategy.

Based on a deep understanding of and significant hands-on experience in the minerals and mining industry, with specific focus to Africa, the company is geared to unlock project value-based cost effective operational implementation and ongoing management; long standing relationship with the value chain of service providers; and long-standing relationship with regulators and government. With this background, it aims to identify and acquire value accretive opportunities to build an African focused gold and mineral exploration and development company. It currently has three projects in development, and a near term gold production project in JV.

BLYVOOR GOLD TAILINGS PROJECT, SOUTH AFRICA

Katoro has entered into a binding conditional agreement to form a 50/50 unincorporated joint venture with Blyvoor Gold Operations and its holding company, Target Mine Consulting (Pty) Ltd.

The JV Partners plan to exploit potentially viable deposits of gold and any other minerals from six gold tailings dams owned by Blyvoor in South Africa, which contain a JORC Code compliant resource of, in aggregate, 1.34Moz of Au at an average grade of 0.30g/t Au.

The Project already has in place the requisite mining licence and environmental impact assessment ('EIA') for the reprocessing of the tailings, allowing production to commence immediately upon commissioning of the processing plant.

Subject to funding, the JV Partners are targeting initial production of up to 250,000 tonnes per month (tpm) of material from the tailings as part of a production ramp-up to achieve production of 500,000tpm within two years.

Mine life of 25 years building to a production capacity of 500,000 tons per month and 35,000 ounces of gold production per annum. Overall production of 661,171 ounces of gold over the 25 years, generating revenue of US$992m.

Low cost operation with an estimated All-in Sustaining Cost ('AISC') of US$727 per ounce of gold and an All-in Cost ('AIC') of US$920 per ounce of gold. Total Project capital costs of US$110m across the life of the Project, with peak funding requirement of US$36.4m.

The Project is finance ready, with the debt equity to be raised at project level, minimising

Katoro Gold share dilution.

BLYVOOR GOLD MINE HISTORY

The Blyvoor Gold Mine, inclusive of the TSF site is located 75km south west of Johannesburg in the Gauteng Province of South Africa. It lies approximately 6 km south of Carletonville.

Blyvooruitzicht Gold Mine, in its heyday during a seven decade period in the middle of the 20th Century (1937 - 2013), was the richest of the South African gold mines with recovered grades averaging over 14 g/t. In 1996 Blyvooruitzicht merged with its neighbouring mine, Doornfontein Mine. From inception, these two underground operations have produced a combined 1,767t of gold, with an incredible 825t of gold (26.5m ounces) SAMREC/JORC compliant resources remaining underground whilst the surface tailings dams contain further 1.3m ounces of SAMREC/JORC compliant resources.

During 2015 and 2016, Blyvoor Gold negotiated and bought the mining right and certain surface assets. The assets purchased were those considered to be essential to bring surface tailings retreatment operations into production. The world class nature of the surface mineral resource allows for healthy investment returns to be made from the capital investment required for the operation.

BLYVOOR KEY INFORMATION AND SITE MAP

6 Tailings dams containing 1.3moz JORC compliant resources at an average grade of 0.3 g/t Au (for all the TSF's).

Production to be ramped up to 500,000 tpm expected after year 3 producing 36,700 oz Au per annum at its peak.

Projected 25 year life of mine, at 50,000tpa production Projected low all in sustaining costs (AISC) of $727. Environmental liabilities funded.

Experienced management team with proven track record and significant relevant experience.

THE BLYVOOR TAILINGS - PLANT FLOW SHEET

Proven mining and processing methodologies to be used:

• Hydro mining using recycled water.
• Low cost slurry pumping and gravity trench to process plant - pumping distance of 1-7 km.
• Proven cyanide leach with 18 hour residence time.
• Tailings deposition on licensed site.

Low technical risks - plant design operating successfully for more than 20 years in the Wits basin.

Tests show gold recoveries of >56% potential. to increase to 60% through pre-oxidation

JORC COMPLIANT RESOURCE

Over 60 drill holes and 3,000m of drilling

Resources statement based on:

• 2011 Coffee Mining SA Technical Report (prepared for DRD Gold)
• 2012 Minxcon Resource Audit (prepared for Village Main Reef)
• 2016 AB Global Mining resource statement (on TSF 7 only)
• 2016 D. Whittaker resources audit
• 2020 Minxcon Scoping Study

THE BLYVOOR HIGH LEVEL PROJECT TIMELINE

THE HANETI PROJECT, TANZANIA

The 75% owned Haneti project is a polymetallic system with identified potential for nickel (sulphide and laterite), Platinum Group Metals ('PGMs'), copper, gold, lithium and rare earth elements ('REEs').

Within the approximately 5,000 sq. km project area, the principle target zone is an 80 km long ultramafic belt with grades from surface sampling of up to 13.6% nickel and 2.33 g/t combined platinum and palladium.

Within the 80 km ultramafic belt is the principle target, Mihanza Hill, where 2015 geophysical work identified significant extensions to nickel sulphide prospective target rock formations and geochemical interpretation has identified prospectivity for chonolith type nickel-copper-PGM mineralisation.

Mihanza Hill is believed by the Company, based on desktop work undertaken, to have the potential to host a similar style of mineralisation to the Sipa Resources Limited (ASX:SRI) Akelikongo nickel project in Uganda.

Katoro has been developing, subject to funding, plans to implement a drill programme at Haneti, focused on nickel sulphide and PGM targets at Mihanza Hill and Mwaka Hill, the two priority targets.

The Company continues to explore all funding options for the advancement of Haneti, which may include further joint ventures or farm-ins.

The recent feedback received at the Mining Indaba conference in Cape Town, South Africa in early February 2020, included considerable interest in large scale nickel exploration projects, from mid-tierand Tier 1 mining companies, and demonstrated to the Board the strategic value of Haneti.

THE HANETI PROJECT LOCATION

THE HANETI PROJECT MAGNETIC DATA

THE HANETI INVESTMENT CASE

• 5,000 sq. km project area, the principle target zone is an 80 km long ultramafic belt.
• Surface sampling of up to 13.6% nickel and 2.33 g/t combined platinum and palladium.
• 75% owned - JV with Power Metal Resources (LON:POW) 25%.
• Geophysics indicate potential for large scale nickel sulphide and PGM exploration targets at Mihanza Hill and Mwaka Hill, the two drill ready priority targets.
• Considerable project interest from mid-tier and Tier 1 mining companies for JV & earn-in.

CONTACT KATORO GOLD PLC

@KatoroGoldPlc

+44 20 0930 6219

Katoro Gold PLC

60 Gracechurch Street, London,

EC4V 0HR, United Kingdom

www.katorogold.com

info@katorogold.com