Shanta Gold provided a positive update on the construction progress at the Singida Gold Project (‘Singida') in Central Tanzania. Overall construction activity at the Project is 93% complete; · All essential equipment for operation of the gold mine is now delivered to site; · The stockpile of crushed ore has now reached 32,300 tonnes equal to over one month of supply, significantly de-risking the ramp-up period of operations; · The Run of Mine stockpile at the Singida process plant is currently 127,000 tonnes at an average grade of 3.34 g/t containing 13,581 oz of gold equal to approximately 4 months of processing; · The installation of Tailings Storage Facility (‘TSF') HDPE liner for partial deposition is on track for completion in March 2023; · Hot commissioning of the NCP-manufactured Milling circuit planned for the second half of February 2023; · Hot commissioning of the COMO engineering elution and electrowinning circuit underway Hot commissioning of the full process plant is planned for March 2023.