Turaco Gold Names Warren King as Project Development Director to Lead Afema Feasibility and Construction Phase

Warren King's Proven Expertise in African and Australian Gold Projects

Warren King joins Turaco Gold with extensive experience managing significant gold infrastructure projects across continents. Most recently, he was Vice President of Projects at Allied Gold Corporation, overseeing the Sadiola Gold Mine upgrade in Mali. Previously, he managed the design and construction of Red 5 Limited's (now Vault Minerals) King of the Hills gold processing plant in Leonora, Western Australia, which processes 4 million tonnes annually—directly relevant to the scale planned for Afema.

King also led project management for the 2.5 million tonnes per annum processing facility at the Dalgaranga Gold Project in Western Australia, now operated by Ramelius Resources. His roles at engineering firms Mintrex and DRA involved full project execution from feasibility through commissioning of mineral processing infrastructure. He holds a Bachelor of Engineering (Mechanical) from the University of Stellenbosch and a Bachelor of Law from the University of South Africa, combining technical expertise with business acumen.

Strategic Shift from Exploration to Development Execution at Turaco

King's appointment signals Turaco Gold's strategic transition from exploration to development and construction. Managing Director Justin Tremain highlighted King's proven ability to advance gold projects through feasibility, development, and production stages. This aligns with the completion of Afema's Pre-Feasibility Study and the start of the Definitive Feasibility Study, a critical step toward project sanction and capital commitment.

The change in leadership reflects the evolving skill requirements as Turaco moves from resource discovery to engineering, procurement, construction management, and operational planning. King's African market experience and large-scale construction expertise are expected to strengthen Turaco’s capacity to execute the Afema Project in southeastern Côte d'Ivoire.

Afema Project's Robust Mineral Resource and Ore Reserve Estimates

Located in southeastern Côte d'Ivoire, the Afema Project contains a 4.65 million ounce gold mineral resource estimate per JORC 2012 standards, announced on 17 June 2026. This includes seven deposits—Woulo Woulo, Herman, Jonction, Anuiri, Asupiri, Begnopan, and Toilesso—and a heap leach stockpile. The resource totals 116.7 million tonnes at an average grade of 1.2 g/t gold, with 72.2 million tonnes classified as Indicated and 44.5 million tonnes as Inferred.

Additionally, a Probable Ore Reserve of 1.91 million ounces was declared on 17 June 2026, derived from Woulo Woulo, Jonction, Anuiri, and Asupiri deposits, based on a US$2,000/oz gold price. This reserve comprises 55.1 million tonnes at an average grade of 1.1 g/t, representing economically mineable material. Turaco plans to update the Afema mineral resource estimate by the end of 2026, anticipating further growth beyond current figures.

Definitive Feasibility Study Progress and Technical Leadership

Following the Pre-Feasibility Study, Turaco targets completing the Definitive Feasibility Study by the end of Q2 2027. The DFS will deliver detailed engineering, cost estimates, and financial modelling at a confidence level required for project financing. The six-month period from King's appointment in August 2026 to Q2 2027 defines the timeline for this critical work, with King leading the technical team.

King will also guide Turaco through construction and operational commencement phases at Afema, ensuring continuity of expertise from feasibility through to production. This approach underscores Turaco’s readiness to advance Afema methodically toward development.

Côte d'Ivoire as Turaco Gold's Core Operating Region

Turaco’s flagship Afema Project is situated in southeastern Côte d'Ivoire, positioning West Africa as the company’s primary development and production focus. Côte d'Ivoire is a leading gold producer in Africa, with established infrastructure, skilled labour, and regulatory frameworks supporting large-scale mining operations.

King’s prior experience managing the Sadiola Gold Mine upgrade in Mali brings valuable regional insights into regulatory, logistical, and operational challenges in West Africa. This expertise is expected to enhance Turaco’s project execution strategy within Côte d'Ivoire’s operating environment.

Engineering and Processing Plant Expertise Key to Project Scale

King’s career highlights include managing design, procurement, and construction of large-scale mineral processing plants essential for advancing Afema. His leadership on the King of the Hills plant (4 million tonnes per annum) and Dalgaranga facility (2.5 million tonnes per annum) demonstrates his capability handling complex capital-intensive projects.

Processing plants are typically the longest lead-time and most capital-intensive components of mining projects. King’s experience with engineering firms DRA and Mintrex, globally recognised for mineral processing design, equips him to oversee Afema’s engineering strategy and procurement. His expertise spans feasibility through commissioning, ensuring practical and informed technical decisions during the DFS phase.

Anticipated Mineral Resource Growth and Exploration Upside

Turaco plans a mineral resource update for Afema by the end of 2026, expecting further expansion. Deposits such as Baffia, Niamienlessa, and Affienou have been drilled but not yet included in the current 4.65 million ounce resource estimate, indicating potential for additional ounces.

This ongoing exploration reflects Turaco’s systematic evaluation of Afema’s district-scale potential. Converting Inferred to Indicated Resources and testing new targets will feed into future resource updates, supporting management’s confidence in resource growth and enhancing the project’s economic prospects.

Managing Director Justin Tremain Highlights Development Credentials

Justin Tremain emphasised that King’s appointment represents a major milestone as Turaco transitions from exploration to development. King’s proven success in advancing gold projects through feasibility, development, and production phases strengthens Turaco’s development credentials.

Tremain noted King’s African experience and large-scale construction background enhance Turaco’s ability to develop Afema. Recruiting senior technical staff with strong delivery records signals Turaco’s commitment to advancing its projects and builds investor confidence in its development capabilities.

Gold Market Context Supports Project Development Momentum

Turaco’s Afema Project progression occurs amid sustained gold demand and elevated prices. The Probable Ore Reserve uses a US$2,000/oz gold price assumption, consistent with or conservative versus spot prices at the June 2026 announcement. Higher gold prices improve project economics and facilitate capital attraction and financing.

King’s recruitment reflects sector-wide activity and competition, as major producers seek resource replacement and junior companies with quality assets in established jurisdictions attract investment. Turaco’s positioning of Afema as a near-term development opportunity aligns with investor interest in growth-stage West African gold projects.

Qualifications and Board Approval of Appointment

Warren King holds a Bachelor of Engineering (Mechanical) from the University of Stellenbosch and a Bachelor of Law from the University of South Africa, combining technical and legal expertise suited for senior mining development roles. Stellenbosch University is a leading African engineering institution, and King’s qualifications complement his extensive practical experience.

The Turaco Gold Limited Board authorised the release of this appointment announcement, confirming governance oversight and endorsement of the decision. This ensures the disclosed information is accurate and complete as of 21 July 2026.