Endeavour Mining : Amended Technical Report

TERANGA GOLD CORPORATION

AMENDED TECHNICAL REPORT ON THE WAHGNION GOLD OPERATIONS, BURKINA FASO

Report for NI 43-101

Qualified Persons:

Stephen Ling, P.Eng

Peter Mann, FAusIMM

Patti Nakai-Lajoie, P.Geo

Ian Ward, P.Eng

William Sarunic, MAusIMM (CP (Min))

David Morgan, MAusIMM (CP)

David Gordon, FAusIMM

Jeff Martin, P.Eng

Initial Report Date: October 31, 2018

Amended Report Date: July 31, 2019

TABLE OF CONTENTS

PAGE
1 SUMMARY ......................................................................................................................	1-1
Executive Summary.......................................................................................................	1-1
Economic Analysis.........................................................................................................	1-8
cash flow analysis........................................................................................................	1-11
Technical Summary .....................................................................................................	1-11
2 INTRODUCTION .............................................................................................................	2-1
3 RELIANCE ON OTHER EXPERTS .................................................................................	3-1
4 PROPERTY DESCRIPTION AND LOCATION ................................................................	4-1
Acquisition of Interest.....................................................................................................	4-1
Mineral Tenure...............................................................................................................	4-1
Fiscal Framework - Mining Duties, Royalties, Taxes, and Other Financial Obligations..	4-3
Permits, Permitting Process, and the Mining Code ........................................................	4-4
5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND
PHYSIOGRAPHY...............................................................................................................	5-1
6 HISTORY ........................................................................................................................	6-1
Property Ownership .......................................................................................................	6-1
Exploration and Development History ............................................................................	6-1
Historical Mineral Resources and Mineral Reserve Estimates..........................................	6-15
Past Production ...........................................................................................................	6-17
7 GEOLOGICAL SETTING AND MINERALIZATION..........................................................	7-1
Regional Geology ..........................................................................................................	7-1
Local Geology................................................................................................................	7-3
Property Geology...........................................................................................................	7-7
Mineralization ..............................................................................................................	7-16
8 DEPOSIT TYPES ............................................................................................................	8-1
9 EXPLORATION ...............................................................................................................	9-1
10 DRILLING....................................................................................................................	10-1
Teranga Drilling ...........................................................................................................	10-1
Reverse Circulation Drilling..........................................................................................	10-4
Diamond Drilling ..........................................................................................................	10-5
Rotary Air Blasting .......................................................................................................	10-6
Auger...........................................................................................................................	10-6
Regional Exploration....................................................................................................	10-7
11 SAMPLE PREPARATION, ANALYSES AND SECURITY............................................	11-1
Sample Preparation .....................................................................................................	11-1
Sample Analyses .........................................................................................................	11-1
Analytical Method ........................................................................................................	11-2

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Sample Security...........................................................................................................	11-2
Quality Assurance and Quality Control.........................................................................	11-3
12 DATA VERIFICATION .................................................................................................	12-1
Resource Database .....................................................................................................	12-1
13 MINERAL PROCESSING AND METALLURGICAL TESTING.....................................	13-1
Metallurgical Testing....................................................................................................	13-1
14 MINERAL RESOURCE ESTIMATE.............................................................................	14-1
Introduction..................................................................................................................	14-1
Nogbele North Deposit.................................................................................................	14-6
Nogbele South Deposit ..............................................................................................	14-65
Stinger Deposit ..........................................................................................................	14-98
Fourkoura Deposit ...................................................................................................	14-127
Samavogo Deposit ..................................................................................................	14-145
15 MINERAL RESERVE ESTIMATE ................................................................................	15-1
Summary .....................................................................................................................	15-1
Mineral Reserve Model Description .............................................................................	15-1
Open Pit Optimization..................................................................................................	15-9
Open Pit Optimization Results ...................................................................................	15-12
Open Pit Design.........................................................................................................	15-13
Cut-off Grade.............................................................................................................	15-20
Mineral Reserve Estimate..........................................................................................	15-20
16 MINING METHODS.....................................................................................................	16-1
Project Overview..........................................................................................................	16-1
Mine Planning..............................................................................................................	16-9
Open Pit Design.........................................................................................................	16-10
Mine Production Schedule .........................................................................................	16-15
Mine Equipment.........................................................................................................	16-23
Mine Consumables ....................................................................................................	16-30
Personnel ..................................................................................................................	16-31
Geomechanics...........................................................................................................	16-34
17 RECOVERY METHODS..............................................................................................	17-1
Introduction..................................................................................................................	17-1
Process Plant Description............................................................................................	17-3
18 PROJECT INFRASTRUCTURE ..................................................................................	18-1
Mine Infrastructure.......................................................................................................	18-1
Waste Rock Disposal...................................................................................................	18-4
Tailings Disposal..........................................................................................................	18-4
Water Harvest Dam and Water Storage.......................................................................	18-6
Personnel ....................................................................................................................	18-8
19 MARKET STUDIES AND CONTRACTS......................................................................	19-1
Markets........................................................................................................................	19-1
Contracts .....................................................................................................................	19-1

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20 ENVIRONMENTAL STUDIES, PERMITTING, AND SOCIAL OR COMMUNITY IMPACT

.........................................................................................................................................	20-1
Environmental Studies .................................................................................................	20-1
Environmental Permitting.............................................................................................	20-8
International Agreements, Guidelines, and Standards ...............................................	20-10
Corporate and Social Responsibility ..........................................................................	20-10
Environmental and Social Management.....................................................................	20-11
Community Relations.................................................................................................	20-14
Rehabilitation and Mine Closure ................................................................................	20-17
21 CAPITAL AND OPERATING COSTS ..........................................................................	21-1
Capital Costs ...............................................................................................................	21-1
Operating Costs...........................................................................................................	21-5
22 ECONOMIC ANALYSIS...............................................................................................	22-1
23 ADJACENT PROPERTIES..........................................................................................	23-1
24 OTHER RELEVANT DATA AND INFORMATION........................................................	24-1
25 INTERPRETATION AND CONCLUSIONS ..................................................................	25-1
Risks and Opportunities...............................................................................................	25-2
26 RECOMMENDATIONS................................................................................................	26-1
27 REFERENCES ............................................................................................................	27-1
28 DATE AND SIGNATURE PAGE ..................................................................................	28-1
29 CERTIFICATE OF QUALIFIED PERSON....................................................................	29-1
30 APPENDIX 1 ...............................................................................................................	30-1
Wahgnion Mining Licence............................................................................................	30-2
Nianka II Exploration Permit.........................................................................................	30-3
Dierisso II Exploration Permit.......................................................................................	30-4
Nogbele II Exploration Permit ......................................................................................	30-5
Zeguedougou II Exploration Permit..............................................................................	30-6
Nogbele Sud Exploration Permit ..................................................................................	30-7

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LIST OF TABLES

		PAGE
Table 1-1 Royalties and Government Payments...............................................................	1-9
Table 1-2 Income Taxes, Working Capital, and Other.......................................................	1-9
Table 1-3 Cash Flow Summary.......................................................................................	1-10
Table 1-4 Mineral Resource Estimate as of January 31, 2018 ........................................	1-15
Table 1-5 Mineral Reserve Estimate - May 31, 2018......................................................	1-16
Table 1-6	Project Schedule.............................................................................................	1-27
Table 2-1 Summary of Qualified Persons .........................................................................	2-2
Table 4-1	Tenure Information ...........................................................................................	4-2
Table 5-1	Climatic Data ....................................................................................................	5-2
Table 6-1 Summary of Historical Drilling .........................................................................	6-13
Table 6-2 Mineral Resource Estimate as of October 2011..............................................	6-15
Table 6-3 Mineral Resource Estimate as of January 2013..............................................	6-15
Table 6-4 Mineral Reserve Estimate as of December 2012 ............................................	6-16
Table 6-5 Mineral Reserve Estimate as of 2014..............................................................	6-16
Table 6-6 Mineral Resource Estimate as of June 30, 2015.............................................	6-16
Table 10-1 Drilling Summary - January to December 2017.............................................	10-2
Table 10-2 Hillside Drill Hole Intercepts ..........................................................................	10-7
Table 10-3 Konatvogo Drill Hole Intercepts.....................................................................	10-9
Table 10-4 Kafina West Drill Hole Intercepts.................................................................	10-10
Table 10-5 Ouahiri South Drill Hole Intercepts..............................................................	10-12
Table 10-6 Petite Colline Drill Hole Intercepts...............................................................	10-13
Table 10-7 Raul Drill Hole Intercepts ............................................................................	10-14
Table 11-1 Certified Reference Materials........................................................................	11-7
Table 13-1 Comminution Test Work Result Summary ....................................................	13-3
Table 13-2 Ore Design Parameters ................................................................................	13-4
Table 13-3 Phase 1 Gravity/CIL Cyanidation Testwork...................................................	13-5
Table 13-4 2017 Testing, Composites Prepared.............................................................	13-6
Table 13-5 Gravity / Cyanidation Testwork on Primary and Oxide Master Composites:
Summary of Results .......................................................................................................	13-11

Table 13-6 Gravity / Cyanidation Testwork on FN/FS, NC/NW and NN Master Composites:

Summary of Results .......................................................................................................	13-12
Table 13-7 Composites Average Gold Recovery ..........................................................	13-14
Table 13-8 Predicted Plant Gold Recovery by Ore Type...............................................	13-15
Table 14-1 Mineral Resource Estimate as of January 31, 2018 ......................................	14-1
Table 14-2 Common Cut-off Grade and Pit Shell Optimization Parameters ....................	14-5
Table 14-3Cut-off Grades Based on Variable Surface Haul Cost...................................	14-6
Table 14-4 Summary of Nogbele North Resource Database ..........................................	14-7
Table 14-5	Nogbele North Weathering Profile Domain Codes ......................................	14-10
Table 14-6	Nogbele North Vein System Domain Codes ...............................................	14-10
Table 14-7	Descriptive Statistics of Nogbele North Gold Resource Assays ..................	14-15
Table 14-8	Nogbele North Capping Values and Statistics by Cap Group......................	14-23

Table 14-9 Composite Length Residual Analysis within Nogbele North High Grade and Low

Grade Domains ..............................................................................................................	14-26
Table 14-10	Descriptive Statistics of Nogbele North Capped Gold Composites............	14-26
Table 14-11	Nogbele North Block Model Dimensions ...................................................	14-34
Table 14-12	Nogbele North Block Model Attributes ......................................................	14-34
Table 14-13	Nogbele North Average Bulk Densities .....................................................	14-37

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