Auplata Mining : Activity in the 2nd quarter 2020

Activity in the 2nd quarter 2020

Press Release - July 29th

Auplata Mining Group - AMG (Euronext Growth - FR0013410370 - ALAMG) reports 2nd quarter 2020 activity indicators for its operations in French Guyana and Peru.

The situation of uncertainty regarding the VIDOC-19 pandemic continued during the second half of 2020, but there are signs of recovery. Aggregate demand and consumption rebounded slightly following the deconfinement and recovery of economic activity in most developed countries. Manufacturing plants are gradually returning to pre-pandemic production levels, which means that raw material consumption is on the rise again. The mining industry, like all other industrial activities, is still being impacted by these macroeconomic effects; nevertheless, indicators suggest that the most difficult period is probably over. The risk of a "second wave" nevertheless remains present in all countries and sectors of activity, with a number of countries carrying out partial reconfinements..

Prices of base metals such as zinc, copper and lead, which are used by industry, have rebounded slightly but have not yet reached their pre-pandemic levels.

Prix en USD par	31 décembre	31 mars	30 juin	Variation
Tonne	2019	2020	2020	juin/mars en %
Zinc	2.292	1.868	2.057	10,1%
Cuivre	6.156	4.797	6.038	25,9%
Plomb	1.923	1.712	1.789	4,5%

Change in base metal prices between December 31, 2019 and June 30, 20201

Precious metals increased significantly. The price of silver returned to that of the beginning of the year and gold continued to rise compared to its year-end 2019 price, playing its role as a safe haven.

Prix en USD par	31 décembre	31 mars	30 juin	Variation
Once	2019	2020	2020	juin/mars en %
Argent	18,06	13,96	18,18	30,2%
Or	1.522	1.588	1.782	12,2%

Change in base metal prices between December 31, 2019 and June 30, 20201

The macroeconomic impact of the COVID-19 pandemic on all industrial activity, including the mining industry, was therefore confirmed in the 2nd quarter of 2020. The economic stimulus measures taken by governments during the second half of 2020 enabled the mining industry, considered, particularly in Peru, as a "strategic sector", to limit the impact. The situation has forced the industry to reorganize and optimize its costs, which could potentially lead to an increase in the sector's profitability once the health crisis is over.

1 London Market Exchange https://www.lme.com

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French Guyana

In accordance with the recommendations of the authorities, AMG's "COVID-19 plan" has been put in place and is operational. A series of measures have been put in place to guarantee the safety of employees and service providers. PCR tests were carried out 10 days ago on all employees at the "Dieu Merci" site, with negative results. In addition to the legal and regulatory requirements and in order to guarantee the safety of employees and the "Dieu Merci" site, a specific procedure has been put in place under the terms of which, any person who has to go to the "Dieu Merci" site must have a negative PCR test less than 72 hours prior to the visit.

Taking into account government recommendations, the specific situation of the "Dieu Merci" site, located approximately 120 km from Cayenne, and the difficulties concerning the supply of certain raw materials, the resumption of production is planned for the beginning of September.

As part of the preparation for this restart, optimisation tests were carried out.

Débourbeur

The elution unit was also subjected to performance testing in order to increase the desorption of gold in the activated carbon.

Unité d'élution

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Fuel supply - Convoy tanker on the AMG Barge

The IP-Mag geophysical campaign was carried out during the month of May and the IP/Mag acquisition started this week.

Geophysical IP-Mag

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IP Measurement Point Mapping

Following the departure for personal reasons of Mr. Antoine Lopvet, Mr. Etienne Patris will fill the position of "Country Manager".

Peru

In Peru, as the government considered the mining sector to be strategic, AMG was able to continue its operations in the second half of 2020, albeit at a reduced pace. The team organised itself by putting in place the health measures required by the Peruvian authorities in order to continue its activity.

Even if the Peruvian activity continued despite the health crisis, the results will be affected. However, it is hoped that EBITDA will be positive at the end of the year.

During the 2nd quarter 2020:

• 18,115 tons of ore were extracted from the El Santo mine (-50% compared to forecasts). The difference in relation to the budget was partly offset by the ore stocks accumulated during the first quarter of 2020. The average grades of ore extracted were as follows:

• 1. Gold (Au): 0.12 g/tonne (+12% compared to forecasts)
  1. Silver (Ag): 2.36 g/tonne (+19% compared to forecast)
  1. Lead (Pb): 4.41% (+24% compared to forecasts)
  1. Zinc (Zn): 5.77% (+1% compared to forecasts)
• 24,842 tons were processed by the Ana María plant (-16% compared to forecasts). The lower the humidity, the better the quality of the concentrates:
• 1. Zinc concentrate: 8.77% (-12% vs. forecast: 10%)

• 1. Lead concentrate: 8.88% (-11% vs. forecast: 10%)
• Second half-year production of metals from concentrates:
• 1. Gold (Au): 1.53 kg (-30% compared to forecasts)
  1. Silver (Ag): 48,600 oz (-10% compared to forecast)
  1. Lead (Pb): 1,037 tonnes (-14% compared to forecast)
  1. Zinc (Zn): 1,271 tonnes (-33% compared to forecasts)

The crews continued the ramp advancement operations in the El Santo mine reaching the -185 m level. The El Angel vein, whose continuity at depth had been confirmed by drilling in 2019, was finally reached by the ramp in preparation for future extraction. The future extraction of this ore should increase the grades of the concentrates.

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Veine E Angel level -185 m.

After commissioning of the spiral conveyor in 2019 to dry the concentrates and thus reduce their moisture content, an additional heating system was installed at the filter. The aim is to reduce the moisture content of the concentrates as much as possible, thus increasing the effective quantity of concentrate transported by truck and thus optimising logistics costs.

Système de chauffage

Following the acquisition of new compressed air perforators, the tests carried out after their installation were conclusive. These perforators will enable the tunnel to be driven through more efficiently.

Test des perforateurs

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As the operation progresses and the ore is extracted, the mine ramp also advances. In accordance with the applicable standards and in order to enhance the safety of all teams, an extension to the ventilation system has been completed. To this end, the teams have extended the ventilation pipe.

Ventilation channel

Strategy

The economic situation is now linked to the evolution of the global health situation. AMG estimated that the rebound and the return to prices seen before the pandemic would not be expected before the 4th quarter of 2020. If the upward trend continues, it is possible that the return to the prices seen at the beginning of the year will occur during the 3rd quarter, which would allow AMG to revise its forecasts upwards.

Like the mining sector as a whole, AMG's operations are affected by the COVID-19 pandemic. The Peruvian and Moroccan operations have continued with the necessary health precautions. Only operations in French Guiana had to be suspended.

As mentioned by AMG in previous press releases, the price of gold confirms its upward trend and should continue to rise in the coming months.

While complying with health regulations, AMG is concentrating all its efforts on the plan to restart the plant in order to be able to restart gold production at the beginning of September.

In Peru, exploration activity is focused on the economic evaluation of polymetallic mining areas with high gold and silver potential. Thus the former Suyckutambo mine is undergoing rehabilitation and feasibility studies in a context of rising precious metal prices (gold and silver, etc.).

The results of this study are expected in the coming months. If this economic evaluation proves conclusive, AMG could benefit from a leverage effect, both in French Guyana and in Peru.

At the moment the complete system of Suyckutambo, San Miguel and Potosi is being mapped:

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Plane Nº 1.a. map of Tahuaccollo (700 ha) - Plane Nº 1.b. cartography F3 and F4

An important anomaly was discovered west of Santa ursula (Suyckutambo), confirming the little-explored potential of this epithermal system.

Outcrop, hydrothermal breccia identified in stream sediment

The anomalous grades below are "high sulfidation" (presence of sulfur) and indicate a favourable porphyry deposit potential.

Sample_Id	Cu_ppm	Pb_ppm	Zn_ppm	Ag_gr	Au_ppb
SYS20-00001	70.60	382.50	445.90	66.87	6.33
SYS20-00002	65.86	354.29	269.68	62.21	7.32
SYS20-00003	54.95	295.00	244.10	55.99	5.31

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Auplata in a nutshell

Auplata Mining Group (AMG), incorporated in July 2004 and listed on the Paris Stock Exchange (Euronext Growth) since December 2006, is a polymetallic mining exploration and mining group. AMG is present in French Guiana and, through its subsidiaries, in Peru, Morocco (listed on the Casablanca Stock Exchange) and Ivory Coast. AMG pursues a dynamic, sustainable and innovative industrial and financial strategy for the development of high-potential precious and base metal deposits with the involvement of local stakeholders. The objective of the company is to produce the metals of tomorrow needed for the energy transition in a clean and responsible way, while trying to provide France with a national source of strategic metals.

ISIN: FR0013410370- ALAMG; ICB: 1777 - Gold Mining.

For more information about Auplata Mining Group: www.auplatamininggroup.com

Contacts

FINANCE NEWS Mathieu Omnes Investor Relations [e-mail] 01 53 67 36 92

Nicolas Bouchez Press relations [e-mail] 01 53 67 36 74

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