Resource World Magazine

100th ISSUE! V10-11 November 2012

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GDRRF-OTCQX] has 12 exploration permits located throughout Burkina Faso. Focus has centred on the Ronguen gold project, with near-surface measured resources of 4.14 million tonnes at 1.12 g/t gold for 150,000 oz gold contained. Indicated resources comprise 3.86 million tonnes at 1.28 g/t gold for 159,000 oz gold contained. The deposit's deeper zone holds measured and indicated resources of 483,000 tonnes at 1.51 g/t gold for 23,000 oz gold contained. Further exploration is planned, while a preliminary economic assessment (PEA) and environmental impact statement is already underway. Golden Star Resources Ltd. [GSC-TSX; GSS-NYSE Amex] has two operational gold mines in Ghana: Bogoso/Prestea and Wassa. The company has interests in several other regional exploration projects. On August 8, Golden Star announced increased quarterly output, with 85,183 oz gold produced in Q2 2012 compared with 77,725 oz in Q1. NOVEMBER 2012 Hummingbird Resources plc [HUMAIM] holds 13 gold exploration licences and one iron ore licence in Liberia. Since December 2010, Hummingbird has defined two NI 43-101-compliant gold resources on its Dugbe Shear Project in southeast Liberia. The Dugbe F deposit hosts 1.765 million oz gold, grading 1.27 g/t gold, with two-thirds in the indicated category. Located 2.6 km east of Dugbe F, the Tuzon deposit hosts 2.052 million oz gold, grading 1.21 g/t gold. Drilling in 2012 focused on a third deposit, Sackor, located directly west of Dugbe F and a resource update is expected shortly. At Tiehnpo, along the same Dugbe Shear, trenching is ongoing at a newly-discovered 8-km long gold-in-soil anomaly. IAMGOLD [IMG-TSX; IAG-NYSE] operates the Essakane gold mine in northeast Burkina Faso. The company holds a 90% stake in the project, with the Burkina Faso government holding the remainder. For H1 2012, the mine produced 161,000 oz gold compared with 157,000 oz gold in H1 2011. Further exploratory work at the property is on-going, with focus on the Essakane main zone, the northern extensions of the current life-of-mine pit, and the southeast extensions of the Falagountou deposit. Indigo Exploration Inc. [IXI-TSXV] holds four exploration permits in Burkina Faso and is earning in a 100% stake in a fifth. On August 15, the company announced it had delinated new targets at the Kodyel and Moule/Loto permits following soil sampling campaigns. The Kodyel permit contains the Hantekoura site that was explored by Semafo between 1996 and 1998. Semafo made a historic and non-NI 43 101-compliant preliminary resource estimate of 753,000 tonnes, grading 3.1 g/t gold. Keegan Resources Inc. [KGN-TSX] has released the results of a revised mineral resource estimate for its Esaase gold project in Ghana, West Africa, based upon some 200,000 metres of reverse circulation drilling and 78,000 metres of diamond drilling carried out over the past five years. The www.resourceworld.com 21

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