Taung Gold International Limited announced delay in publication of the Annual Results. As disclosed in the Announcement and the Unaudited Annual Results Announcement, the Company has appointed the Expert Teams to, among others, assess the Mining Assets' valuation and perform an update to its financial projections and the Feasibility Studies. It was initially estimated that advanced findings of the Expert Teams in respect of the valuation and impairment assessment of the Mining Assets (the "Findings and Assessment Results") will be ready in or about early August 2023, and subsequently the Annual Results can be published by the end of August 2023 and the annual report (the "Annual Report") for the year ended 31 March 2023 can be despatched by about 15 September 2023.

However, the Board updated the shareholders and potential investors of the Company that delivery of the Findings and Assessment Results by the Expert Teams have to be delayed as works need to be performed to further substantiate the projections of the Expert Teams to support the valuation and impairment assessment of the Mining Assets and for the further work of the Auditors. As a result, publication of the Annual Results and despatch of the Annual Report will be further delayed correspondingly. Based on the latest discussion with the Expert Teams and other professional parties including a mining expert in South Africa and a financial consultant, and subject to their working progress and review by the Auditors, the Company preliminarily expects that the Findings and Assessment Results of the Expert Teams will be ready in or about late October 2023, and subsequently the Annual Results can be published by about mid-November 2023 and the Annual Report can be despatched by about late November 2023.