About TAUNG GOLD Company

Taung Gold is a gold developer founded and incorporated in 2004 in South Africa by mining entrepreneurs David Twist and Rudolph de Bruin. The company's basic strategy remains to acquire gold assets that have the potential to be developed into world-class operating mines. Three years after its establishment, the company signed an agreement, which resulted in the company receiving two flagship projects: Evander and Jeanette. Together, these projects add up to a total measurable and indicative mineral resource of more than 15 million ounces of gold, and the recently announced total mineral reserves of more than 11 million ounces of gold. The Evander project is now poised to be developed into an upscale, low-cost, long-life gold mine. The Jeanette project is still in the feasibility study phase, and once developed, it has the potential to become a major gold producer. In 2011, when the South African company was acquired by a Hong Kong-listed company, these assets were listed on the Hong Kong Stock Exchange, creating a new gold-focused entity, Taung Gold International Limited. The company's flagship project in South Africa is owned by Taung Gold (private) Limited, a non-wholly-owned subsidiary of Taung Gold International Limited. South African entities are fully compliant with South African law, including those relating to Black Economic Empowerment (BEE). The company fully complies with BEE standards; its BEE partner (Sephaku Gold Holdings) owns 24.02% of the shares, while Taung Gold's employee participation program also owns 1.98% of the company's shares.