Exploration Overview

The Corporation holds a significant portfolio of highly prospective exploration land holdings across Turkey (totaling approximately 107,000 hectares), some of which are progressively advancing to prospective projects. The Corporation continues to explore and expand its development pipeline, looking for both near-mine projects that can leverage the existing Çöpler infrastructure and new standalone projects. A recent scoping study indicated that about 20 million tonnes capacity can be added to the Çöpler heap leach pad. This provides significant opportunity, with low-cost, quick to execute additional processing capacity for gold oxide ores in addition to the already constructed sulfide plant. Further detailed technical studies are being advanced to confirm this potential opportunity and are expected to be completed in 2019.

Following the successful commencement of mining at Çakmaktepe, the Ardich gold prospect represents the next phase of the Corporation’s execution of the Çöpler near-mine development strategy and, together with Çakmaktepe, advances the objective of becoming a sustainable multi-mine producer. The results of Alacer’s exploration program and the current portfolio, especially near-mine Çöpler, has significantly increased the confidence that these deposits and prospects will add to the Corporation’s portfolio of operating assets both in the near and medium term.

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