HUM Hummingbird Resources Plc

Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining

23 May 2024

Hummingbird Resources plc

("Hummingbird" or the "Company")

Exploration Update

Hummingbird (AIM: HUM) is pleased to provide an exploration update, including recent drilling results at the Yanfolila Gold mine in Mali ("Yanfolila"). Through Q1-2024, the Company progressed its exploration activities, particularly at the Sanioumale West North Pit ("SWN") and Kabaya South ("KS") deposits at Yanfolila.

During the development of the Company's exploration strategy in FY-2023, Hummingbird identified both SWN and KS as resource upgrade targets, with SWN showing potential for near term addition to the operations mine plan through the upgrade of Inferred Resources into the Indicated Resources category.

At SWN, drilling operations have been completed with 2,223 meters ("m") drilled across 34 Reverse Circulation ("RC") holes and assay results received.

Key drilling results from Sanioumale West North Pit include:

·      21m @14.93 grams per tonne ("g/t") Au from 3m (SNWRC0583)

·      3m @ 6.52 g/t from 10m (SNWRC0595)

·      4m @ 3.48 g/t from 50m (SNWRC0580)

·      26m @ 2.96 g/t Au from 21m (SNWRC0580)

·      19m @ 2.02 g/t Au from 38m (SNWRC0578)

·      12m @ 2.52 g/t Au from 44m (SNWRC0582)

At KS, the Company is progressing with the updating of the historic SAMREC Resource (85 Koz (1.31g/t)) to align with JORC protocol. RC drill chips from 42 drill holes, drilled between 2006 and 2012 (total 4,192m), were relogged and are being included in the updated geological model. In addition, drone surveys were flown to obtain current topographic surfaces to account for artisanal depletion since the original Mineral Resource was estimated.

Modelling and an updated Mineral Resource Estimate ("MRE") for the drilling campaigns at SWN and re-logging of drill chips from KS are expected to be completed within the second half of the year and incorporated into next year's Resource Statement.

Detailed exploration targeting and planning is being conducted with the aim of drilling at the end of the wet season in Q3-2024.

Dan Betts, CEO and Interim Executive Chairman of Hummingbird, commented:

"Exploration is central to the long-term success of our operations, and the success of our recent findings at the Sanioumale West North Pit, demonstrated by the exceptional 21m at 14.93 g/t, are promising as we look to grow the Reserve and Resource bases and in turn expand the life of mine. We are committed to unlocking the full potential of our assets through diligent analysis and strategic planning. Our low-cost approach, coupled with the dedication of our team, positions us well for future success. We remain focused on delivering value to our shareholders while operating responsibly and sustainably in the communities where we operate."

Table of the Q1-2024 Sanioumale West North drilling results

Trigger 0.5 g/t, 1m minimum interval, 2m maximum internal waste

Competent Person Review:

David Muir has reviewed and approved the technical information contained within this announcement in his capacity as a Competent Person, as required under the AIM Rules for Companies. David is the Group Exploration and Database Manager for Hummingbird, and is a "Competent Person", according to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ("JORC Code, 2012 Edition") and is a member of good standing with the Australian Institute of Geoscientists (AIG). 

**ENDS**

Notes to Editors:

Hummingbird Resources plc (AIM: HUM) is a leading multi-asset, multi-jurisdiction gold producing Company, member of the World Gold Council and founding member of Single Mine Origin (www.singlemineorigin.com). The Company currently has two core gold projects, the operational Yanfolila Gold Mine in Mali, and the Kouroussa Gold Mine in Guinea, which will more than double current gold production once at commercial production. Further, the Company has a controlling interest in the Dugbe Gold Project in Liberia that is being developed by joint venture partners, Pasofino Gold Limited. The final feasibility results on Dugbe showcase 2.76Moz in Reserves and strong economics such as a 3.5-year capex payback period once in production, and a 14-year life of mine at a low AISC profile. Our vision is to continue to grow our asset base, producing profitable ounces, while central to all we do being our Environmental, Social & Governance ("ESG") policies and practices.

For further information, please visit hummingbirdresources.co.uk or contact: