About TAUNG GOLD Company

Taung Gold is a gold developer founded and incorporated in South Africa in 2004 by mining entrepreneurs David Twist and Rudolph de Bruin. The company's basic strategy remains to acquire gold assets that have the potential to develop into world-class operating mines. Three years after it was founded, the company signed an agreement that led to the company receiving two flagship projects: Evander and Jeanette. Together, these projects add up to more than 15 million ounces of measurable and indicative mineral resources of more than 15 million ounces of gold, and the recently announced total mineral reserves also exceeded 11 million ounces of gold. The Evander project is now poised to be developed into a high-grade, low-cost, long-life gold mine. The Jeanette project is still in the feasibility study stage, and once developed, it has the potential to become a major gold producer. When the South African company was acquired by a Hong Kong-listed company in 2011, 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 is owned by Taung Gold (private) Limited, a non-wholly owned subsidiary of Taung Gold International Limited in South Africa. The South African entity fully complies with South African law, including laws relating to Black Economic Empowerment (BEE). The company fully complies with BEE standards, and its BEE partner (Sephaku Gold Holdings) owns 24.02% of the shares, while Taung Gold employees participate in the program also own 1.98% of the company's shares.