Theta Gold Mines Limited announced the extension of its Underground Prefeasibility Study (PFS). The Company added Rietfontein Mine to the mine schedule of the PFS announced on 13 April 2021, which
incorporated the Beta, Frankfort, and CDM mines. Collectively referred to as the TGME Underground (UG) Project. Initial results from the Rietfontein PFS are positive and the Board has decided to accelerate the
study by including it in the Definitive Feasibility Study for the TGME Underground project, which is also expected to be released Second Quarter 2022. The Rietfontein PFS requires validation from metallurgical testwork that is still in progress. Due
to the global backlog currently experienced in laboratories, the metallurgical results are expected to be available in Second Quarter 2022.