Bardoc Gold : makes key management appointments

21 OCTOBER 2020

ASX/MEDIA RELEASE

BARDOC MAKES KEY APPOINTMENTS AS IT STRENGTHENS ITS TEAM

FOR DEVELOPMENT AND PRODUCTION

Chief Operating Officer and Project Manager appointed as Definitive Feasibility Study ramps up

Bardoc Gold Limited (ASX: BDC) (Bardoc or the Company) is pleased to announce two senior appointments to its management team as it prepares to make the transition to development and operations at its flagship 100%-owned3.03Moz Bardoc Gold Project, located ~50km north of Kalgoorlie in Western Australia.

The appointment of the project and operations executives, both of whom have vast experience in the gold industry in the Kalgoorlie region, come as the Definitive Feasibility Study (DFS) on the Bardoc Project enters its final few months.

The DFS is on track for delivery next quarter, paving the way for a Final Investment Decision (FID) on a new long-term gold mining and processing operation at the Bardoc Project.

Mr Andrew Francis, who previously oversaw the Pre-Feasibility Study on the Bardoc Project, has been appointed to the expanded role of Chief Operating Officer.

A mining engineer with over 15 years of technical, operational and management experience, Mr Francis has been involved in several underground, open pit and shaft-sinking project studies and start-ups, including the Rubicon-Hornet-Pegasus and Millennium underground mines, Janet Ivy, Matts Dam and Mt Jewell open pit mines and the K2 Shaft at the Gosowong mine.

He previously worked in technical and management roles within Northern Star Resources and has also held senior and management roles with companies such as Barrick, Byrnecut, Entech, MMG and Gold Fields.

Mr Mark Roberts will also join the Bardoc team as Project Manager, with responsibility for managing the DFS and establishing the processing facility and associated surface infrastructure at the Bardoc Gold Project.

Mr Roberts was previously a Senior Process Engineer with GR Engineering Services Limited, where he was responsible for Feasibility studies, process design and commissioning of new and upgrades for mineral processing plants. He also has significant experience in the optimisation of comminution, flotation, CIL and elution areas of processing plants across multiple sites, including Kalgoorlie Consolidated Gold Mines (KCGM), Kanowna Belle and Boddington Gold Mine.

MANAGEMENT COMMENTS

Bardoc Gold's Chief Executive Officer, Mr Robert Ryan, said the new appointments marked an important step in the Company's imminent transition to gold producer.

"We are delighted to announce these senior appointments, further strengthening our senior leadership team and ensuring we have the right people in place to drive us towards production."

Bardoc Gold Limited | ABN 40 125 578 743

130 Stirling Highway, North Fremantle WA 6159 | Locked Bag 4, North Fremantle WA 6159 | Australia Tel [phone] | Fax [phone]

www.bardocgold.com

"Andrew's expanded role as COO comes as we expand the management team with the right skill- sets to oversee the development, construction and successful operation of the Bardoc Gold Project. Andrew has been an integral part of the study phase and will ensure the successful development and future operation of the project.

"Mark brings considerable project development and processing design experience to the team. As we progress into the design stages of the DFS, Mark will provide invaluable input at an early stage, which will allow for a smooth transition into construction and production.

"Over the past 12 months we have focused on building a strong, experienced team with operating, technical and project development experience within the Kalgoorlie district. These appointments ensure we have the key ingredients for the successful development of the Bardoc Gold Project."

ISSUE OF PERFORMANCE RIGHTS

As part of these two new important appointments, the Company advises that it has issued a total of 4,000,000 Performance Rights under the terms of the Performance Rights and Option Plan approved by shareholders. The Performance Rights will not vest, nor any underlying shares be issued, unless the performance conditions set by the Board have been achieved. Performance Rights issued form an important part of the renumeration packages for management.

The following table outlines key business and retention objectives with a term of four years from the date of issue: -

		Unlisted Performance Rights			Class J			Class K
	Number to be issued	1,500,000			2,500,000
	Principle Terms /Vesting		Class J
	Conditions		- the Delivery of a Definitive Feasibility Study to the Board's
					satisfaction by Q1 2021 (Feasibility condition);
					- Negotiation and successful award of Engineering
					Procurement/Construction (EPC) Contractor to the Board's
					satisfaction by Q3 2021 (EPC condition);
					- Other than for reasons outside of the control of the Holder (such
					as invalidity, bona fide redundancy, or death) the holder remains
					employed or engaged with the Company for 12 months.
					Class K
					- The Bardoc Board resolving for a decision to mine (Decision
					Condition)
					- Commissioning of a processing facility on or before the date
					identified in the Board approved construction schedule and within
					the approved budget (Commissioning Condition)
					- Other than for reasons outside of the control of the Holder (such
					as invalidity, bona fide redundancy, or death) the holder remains
					employed or engaged with the Company for 24 months.
	Issue Price		Nil

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Approved for release by

Robert Ryan

Chief Executive Officer

For further information contact:
INVESTORS:		MEDIA:
Robert Ryan	Bardoc Gold Limited	Nicholas Read	Read Corporate
Telephone:	[phone]	Telephone:	0419 929 046
Email:	[e-mail]	Email:	[e-mail]

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