Sprott Asset Management USA Inc.


Merdeka - Tujuh Bukit, Java Indonesia - Nov 2016

Andy Jackson visited Merdeka's Tujuh Bukit project in SE Java, Indonesia, on October 27/28, 2016.  This advanced project is based initially on heap leaching oxidised epithermal ore to produce gold.  There is underlying, higher grade sulphidic Au mineralization, and Cu-Au porphyry mineralization below that.  The mine is under construction and the CIL plant to extract the gold from the heap leach solution, was nearing completion at the time of the visit.

Total MI&I resources (including the porphyry) are 30.328 Moz Au @ 0.464 g/t Au and 8.474 Mt Cu @ 0.43% Cu.  The current reserves (mainly heap leachable oxide epithermal ore) are 1.046 Moz @ 0.91 g/t Au).  Initial production is 93 Koz Au + 300 Koz Ag per annum.

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