TRX Gold Files NI 43-101 Preliminary Economic Assessment for the Buckreef Gold Project

Core Viewpoint - RX Gold Corporation has filed a Technical Report on the Buckreef Gold Project, which supports the previously disclosed Preliminary Economic Assessment (PEA) and shows no material differences from earlier results [1][2]. Group 1: Technical Report and PEA Highlights - The Technical Report was prepared by P&E Mining Consultants Inc. and includes input from D.E.N.M. Engineering Ltd., effective as of April 15, 2025 [3]. - The PEA evaluates an expansion of the existing process plant to 3,000 tonnes per day and a transition from open pit to underground mining over the next 2-3 years [5]. - The base case NPV5% is estimated at US$701 million pre-tax and US$442 million after tax, with an upside scenario reaching US$1,181 million pre-tax at US$3,000/oz gold price [5]. - Over a 17.6-year period, the total process plant throughput is expected to be 18.1 million tonnes, averaging 2.14 g/t Au, with an average recovered gold production of approximately 62,000 oz Au per annum [5]. - The first five years of underground operations are projected to yield over 80,000 oz Au per annum [5]. - Life of Mine cash costs average US$1,024/oz Au, and all-in sustaining costs average US$1,206/oz Au [5]. - Growth capital of US$89 million will be deployed over the next four years, primarily for underground expansion and process improvements [5]. - The PEA is based on Measured and Indicated Mineral Resources of 10.8 million tonnes grading 2.57 g/t gold and Inferred Mineral Resources of 9.1 million tonnes grading 2.47 g/t gold [5]. Group 2: Company Overview - TRX Gold Corporation is focused on advancing the Buckreef Gold Project in Tanzania, which includes an established open pit operation and a 2,000 tonnes per day process plant [7]. - The PEA outlines an average gold production of 62,000 oz per annum over 17.6 years, with a pre-tax NPV5% of US$701 million at an average life of mine gold price of US$2,296/oz [7]. - The company aims to create shareholder value by increasing gold production and funding expansion through positive cash flow, while adhering to high environmental, social, and corporate governance standards [7].