Caracal Gold PLC – High Grade Zone Mining and Ore Processing Results from Kilimapesa Hill Deposit

Caracal Gold PLC, the expanding East African gold explorer, developer and producer with over 1,300,000oz of JORC compliant gold resources, intends to publish its quarterly update for the period ended 31 March 2023 on or around the end of April 2023.

As the company will be presenting to investors at the Mines & Money conference in London on the 26th April, the Company is pleased to provide an interim update on the delivery of high-grade ore from the high-grade zone in the Kilimapesa Hill deposit to the Milling Plant.


· Ongoing 360tpd of high-grade material with average daily grades from 3.15g/t to 4.92g/t being processed,

· The initial mining plan has now been extended to period of 13 months of delivery of high-grade material to the milling plant,

· Pivot Mining Consultants appointed to produce an independent mine design and scheduling for Kilimapesa including the high-grade zone,

· Exploration to define the full potential of the high-grade zone in ongoing.

The average grades for the period from 9th March to 7th April 2023 are detailed below:

Hourly belt cuts are taken on the mill feed conveyor and the daily summary sampling sheets for samples are attached. These samples are assayed in the Kilimapesa laboratory. Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The QAQC program involves insertion of duplicate samples, blanks and certified reference materials in the sample stream. Gold analyses are performed by standard fire assaying protocols using a 50-gram charge with atomic absorption (AAS) finish and a gravimetric finish performed for assays greater than 10 grams per tonne.

Tonnages mined continue to average at over 400tpd from the high-grade zones and an additional bulldozer and additional excavator have been mobilised to further increase tonnages. Recoveries remained in line at 75%, the plant availability improved from 75% from the previous period to 82% for the period from 29th March to 7th April. For April 2023 the plant availability for April 2023 to date is 86%.

Robbie McCrae, CEO of Caracal commented:

“The results from the first 30 days of mining and processing ore from the Kilimapesa Hill high-grade zone have gone beyond expectations and the team are continuing to improve in all the areas. The high-grade zone now supports the current production levels for 13 months, plant availability is back on track and improving after the installation of standby power and recoveries are expected to improve with the delivery and commissioning of the new crusher and additional CIL tank capacity”.

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For further information visit or contact the following:

Caracal Gold plc

Robbie McCrae [email protected]

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