Caracal Gold plc (AIM:GCAT) Appointment of Group Mineral Resource Manager

Caracal Gold plc, the gold producer with operations in East Africa, is pleased to announce the appointment of Mr Franck Bizouerne as Group Mineral Resource Manager, effective from 1 April 2022.

As a senior geologist with over 22 years’ experience and an expert in greenfield exploration, in particular gold but also lithium and base metals across the African continent, Mr Bizouerne brings a huge wealth of experience to the Company. He has worked for an impressive array of junior and tier-one miners, including his most recent role as Exploration Manager and Principal Geologist at Rio Tinto’s CBG (Aluminium) Mine. Prior to this, he was Exploration Manager and Senior Chief Geologist for Etruscan Resources Burkina Faso – now tier-one gold company Endeavour Mining – where he was responsible for developing the Youga Gold Mine in Burkina Faso. Mr Bizouerne has also worked at Mali Lithium – now known as Firefinch – the ASX-listed gold miner and lithium developer, and TSX-listed explorer Namibia Critical Metals.

His experience extends from grassroots discovery to advanced project/deposit developments and mine mineral resources/reserves management, including land acquisition and legal administration. A native French speaker, he is also fluent in English, Spanish and Malagasy.

In his role, Mr Bizouerne will oversee exploration activities at the Company’s Kilimapesa Gold Mining and Processing Operations in Kenya, where exploration activities are progressing with two drill rigs on site as part of its targeted drilling programme to increase JORC resources to +1.5Mozs. An updated Resource Statement is scheduled for completion later this year.

As at 28 February 2022, 27RC holes have been drilled for total metres of 2,494m and drilling was ongoing on the 3rd diamond drill hole with a total of 599.35m completed. The latest round of assay results are due later in this current quarter.

In addition, Mr Bizouerne will manage Company’s exploration activities in Tanzania following the recent acquisition of two gold projects in Lake Victoria Gold Fields – the advanced Nyakafuru Gold Project and the Simba Gold Project, respectively.

Chief executive of Caracal Gold Plc, Robbie McCrae, said:

“Franck’s appointment as Head of Exploration comes at a crucial time for Caracal, as we ramp up exploration at our flagship gold mine at Kilimapesa, where we are investing significantly on our exploration activities, aimed at boosting JORC resources to over 1.5Mozs this year.

“He will play a key role in implementing the final phase of our initial three-phase operational plan at Kilimapesa and boosting gold production to 24ktpa by the end of the year.

“We welcome Franck and his in-depth knowledge of Africa to the team and look forward to reporting on our progress as we bring Kilimapesa to the next phase of its exciting growth trajectory.”

**ENDS**

For further information visit www.caracalgold.com or contact the following:

Caracal Gold plc

Gerard Kisbey-Green

Jason Brewer

info@caracalgold.com


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