2023 Spirit to Acquire Atieli Prospect

February 22, 2023: Spirit Mining entered into a definitive agreement to acquire a 100% unencumbered interest in the Atieli prospect from Pinsapo Kenya Ltd. The Atieli prospect, spanning approximately 12 km2, is located in southwestern Kenya.



• Initial exploration of the Atieli prospect indicates the presence of several high-grade quartz veins
• Preliminary scoping level estimates have projected an in-situ Au resource of > 40,000 troy oz, having delineated approximately 100,000 tons of quartz ore with an average grade of 10+ g/t and up to 45 g/t
• The Atieli prospect is contiguous to one of Spirit's existing licenses with an area more than 100 km2, making it a strategic and valuable addition

2022 Exploration Program Update

Spirit Mining initiated a follow-up field exploration program in the summer and fall of 2022 with a continued focus on License PL/2018/0150 (former license SPL214).

• Geological mapping involved locating and identifying outcrops within the Kamwango area
• Artisanal workings within the targeted area were visited and their location, size, and type of working recorded
• A total of four trenches were excavated at Kamwango proximal to known artisanal workings
• All trenches (Tr11, Tr07, Tr08 and Tr12) were in excess of 30 meters in length
• Samples have been submitted to SGS Laboratories in Mwanza, Tanzania and results are pending

2021 Exploration Program Update

Spirit Mining initiated a program of field exploration in the summer and fall of 2021 focused on License PL/2018/0150 (former license SPL214). The 2021 exploration program was designed to follow up on previous results and expand sampling and mapping to identify new targets and expand and assess existing targets for potential diamond drilling.

• Surface sampling and mapping identifies 10 new areas of mineralization
• Over 30% of samples were 1 g/t gold or higher
• Follow up exploration planned for 2022