TMAC announces results of 2020 pre-feasibility study

30 March 2020

TMAC Resources Inc. announces a summary of key results from the Preliminary Feasibility Study (“PFS”) for its 100%-owned Hope Bay Property (“Property”) located in the Kitikmeot region of Nunavut, Canada, as outlined in the technical report entitled NI 43-101 Technical Report on the Hope Bay Property, Nunavut, Canada (“Technical Report”).
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PFS HIGHLIGHTS

• Pre-tax net present value discounted at 5% (NPV5%) of Hope Bay of C$549 million, after-tax NPV5% of C$486 million, based on Proven and Probable Mineral Reserves
• Life of Mine (“LOM”) of 15 years
• Proven and Probable Mineral Reserve estimate at Hope Bay is 3.5 million ounces of gold
• Updated Measured and Indicated Mineral Resource estimate at Hope Bay:
• - 5.2 million ounces of gold Measured and Indicated Resource, and
• - 2.1 million ounces of gold Inferred Resource
• Processing plant throughput capacity:
• - 2,000 tonnes per day (“tpd”) for years 2021 to 2023
• - 4,000 tpd for 2024 onward
• LOM Cash Cost of US$841/oz and All-in Sustaining Cost of US$986/oz
• Expansion capital expenditures for 2020 to 2023 of C$683 million, including C$184 million for a new conventional processing plant

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