Name of the Project
North Bullfrog gold project.

Location
Beatty district, Nevada, in the US.

Project Owner/s
AngloGold Ashanti.

Project Description
The project is the most advanced of AngloGold Ashanti’s exploration properties in the Beatty district. The project proposes openpit mining using gravity milling and heap leaching for ore processing.

Pending the issuance of necessary regulatory approvals and permits, North Bullfrog could produce an average 117 000 oz/y during the first five full years and an average of 62 000 oz/y over its 13-year mine life.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project will have an internal rate of return (IRR) of 13%, and at a market spot gold price of $1 900/oz, the IRR is estimated to be 25%.

Capital Expenditure
$369-million

Planned Start/End Date
First production is expected in mid-2026 assuming all goes to plan.

Latest Developments
AngloGold Ashanti has approved the North Bullfrog project’s feasibility study to progress into detailed engineering.

Key Contracts and Suppliers
Not stated.

Contact Details for Project Information
AngloGold Ashanti, tel +27 11 637 6000 or email media@anglogoldashanti.com.