Caracal Gold PLC (LON:GCAT) Interim Results for 12 months to 31 December 2021

Caracal Gold plc, the expanding East African gold producer with over 650,000oz JORC-compliant gold resources, announces its interim results for the 12 months to 31 December 2021.

Chief executive of Caracal Gold Plc, Robbie McCrae, said: “Since our listing in September 2021 Caracal has firmly established itself as a gold producer and developer, with established operations in East Africa and over 650,000oz JORC-compliant gold resources. Our strategy is firmly focussed on building production and profitability, with an initial target of realising +50,000oz annual gold production and +3Moz JORC Compliant Resources across our portfolio. To this end we are already making strong headway; a three-phase operational plan is well underway at our flagship Kilimapesa gold mine In Kenya as we look to increase gold production to 24,000oz pa and improve efficiencies.

“Alongside this, in December 2021 we were delighted to acquire two highly prospective projects in the world-class Lake Victoria Gold Fields in Tanzania, one of Africa’s largest gold producing regions. With high-grade, shallow gold resources amenable to conventional open pit operations, a current collective resource of 978,751oz gold and further upside identified, including an additional 448,000oz, these projects offer significant development potential. Add to this the strong performance of the gold price, which is moving ever closer to the US$2,000/oz mark, and the value fundamentals of our company are clear. The Caracal management team is looking forward to an equally eventful FY 2022 as we advance Kilimapesa and our new projects in Tanzania. I would like to thank shareholders for their support and look forward to delivering on our vision to become a significant gold player in East Africa in the year ahead.”

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

Caracal Gold plc

Robbie McCrae

Sheila Boit

info@caracalgold.com


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