Tietto Minerals : Hits 152 g/t Au from 37m within 10m @ 16.53 g/t Au

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Tietto Minerals Ltd

Unit 7, 162 Colin Street

Perth, WA 6005

Tel: [phone]

Web: www.tietto.com

20 January 2022

Tietto hits 152.26 g/t Au from 37m within 10m @ 16.53 g/t Au at AG Core

Highlights:

• Tietto hits shallow high‐grade gold at AG Core, from infill drilling on the main Abujar shear at its 3.35Moz Abujar Gold Project; results include:
• • 10m @ 16.53 g/t Au from 37m incl. 5m @ 32.61 g/t Au (ZDD859 - Section 28C)
  • 18m @ 3.67 g/t Au from 11m incl. 6m @ 8.27 g/t Au (ZDD806 - Section 23A)
  • 19m @ 1.65 g/t Au from 347m incl. 9m @ 3.11 g/t Au (ZDD843 - Section 25B)
  • 10m @ 3.01 g/t Au from 144m incl. 5m @ 5.59 g/t Au (ZDD796 - Section 26B)
• Multiple high‐grade gold drill intercepts from infill drilling at AG South; results include:
• • 7m @ 9.78 g/t Au from 181m incl. 5m @ 13.50 g/t Au (ZDD807 - Section 1B)
  • 10m @ 3.04 g/t Au from 105m incl. 3m @ 8.34 g/t Au (ZDD805 - Section 13C)
  • 1m @ 24.73 g/t Au from 46m (ZDD848 - Section 9B)
• High‐grade gold mineralisation extended 150m vertical below previous resource drilling at AG Core; results include:
• • 6m @ 4.28 g/t Au within 10m @ 2.84 g/t Au from 630m (ZDD844 - Section 20)
• AG Core infill drilling completed; program designed to convert Abujar AG Indicated Resources (35Mt @ 1.5 g/t Au for 1.65Moz) to Measured - targeting the first two years of Abujar's gold production
• Tietto awaits assays for 62 drill holes (9,465m) expected in February 2022; six diamond drill rigs actively drilling with next resource update due end of Q1 CY2022
• Abujar DFS demonstrated robust financial results and estimated first‐year gold production of 260,000oz and 1.2Moz over the first six years of Abujar's 11‐year mine life for an NPV5% A$1.3B (pre‐tax) and A$0.97B (post‐tax) using US$1,700/oz and A$/US$=0.741
• Tietto is funded to production2 with construction progressing on schedule - targeting first gold at Abujar in Q4 CY2022

West African gold explorer and developer Tietto Minerals Limited (ASX: TIE) (Tietto or the Company) is pleased to report high‐grade gold results from the eighth batch of infill and

• Refer ASX Announcement dated 5th October 2021

• Refer ASX Announcement dated 22nd November 2021

For personal use only

Tietto Minerals Ltd

Unit 7, 162 Colin Street

Perth, WA 6005

Tel: [phone]

Web: www.tietto.com

extensional drilling completed at the Abujar‐Gludehi (AG) deposit, part of its 3.35Moz Abujar Gold Project in Côte d'Ivoire, West Africa.

Tietto Managing Director, Dr Caigen Wang, said: "Our eighth batch of results from our infill drilling program at AG has delivered further high‐grade gold intercepts close to surface that will de‐risk open pit mining at Abujar. Our exploration team has now completed the infill drilling program, which was designed to convert Indicated Resources to Measured Resources scheduled to be mined over the first two years of production.

Down‐dip drilling below AG Core has confirmed the extension of high‐grade shoots 150m below the previous resource drilling. These new results will be incorporated into the upcoming mineral resource update. AG Core remains open at depth and further holes are planned to test the limits of this growing gold system.

With completed settlement of the second tranche of our recent capital raise, we are now fully funded to production at Abujar, which has potential to be one of the largest gold producing mines in Côte d'Ivoire, expected to produce more than 260,000 ounces of gold in the first year and 1.2M ounces of gold in the first six years.

"We are well positioned to execute our dual strategy in 2022; our exploration team is planning on drilling 100,000m of diamond core this year to drive resource growth, and our build team is advancing construction work on schedule as we develop the Abujar Gold Project into West Africa's next gold mine."

Drilling Results

This announcement relates to 38 diamond drill holes (8,871.5m) completed as part of Tietto's infill and extensional diamond drilling programs. The infill drilling program was designed to increase confidence in Abujar mineral resource estimates (i.e., upgrading Indicated Resources to Measured Resources). The extensional drilling is designed to test the limits of gold mineralisation at AG Core below the current resource model.

• AG Core infill ‐17 holes for 3,074m
• AG Core underground targets - 4 holes for 2,033m
• AG South infill and extension - 17 holes for 3,764.5m

Tietto Minerals Ltd Unit 7, 162 Colin Street Perth, WA 6005 Tel: [phone] Web: www.tietto.com

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Figure 1: Plan view showing latest drill results at AG Core and AG South

Tietto Minerals Ltd Unit 7, 162 Colin Street Perth, WA 6005 Tel: [phone]

Web: www.tietto.com

For personal use only

Figure 2: Oblique cross section showing latest drill results at AG Core (Section 20 +/‐50m)

For personal use only

Tietto Minerals Ltd

Unit 7, 162 Colin Street

Perth, WA 6005

Tel: [phone]

Web: www.tietto.com

Infill Drilling - AG Core

Results are presented for 16 diamond drill holes (3,074m) completed as part of Tietto's infill drilling program which aims to increase confidence in Abujar mineral resource estimates (i.e., upgrading Indicated Resources to Measured Resources).

More significant intersections from the latest batch of assays received for 1m diamond drill samples are summarised in Table 1.

Table 1: Significant Intersections from AG Core Infill 3

Hole id	Depth from	Depth to	Length	g/t Au	Includes4
ZDD788	83	95	12	1.28	4m @ 2.46 g/t Au
ZDD789	95	97	2	8.38	2m @ 8.38 g/t Au
ZDD790	117	131	14	2.14	6m @ 4.44 g/t Au
ZDD793	116	127	11	1.39	6m @ 1.63 g/t Au
ZDD796	144	154	10	3.01	5m @ 5.59 g/t Au
ZDD805	105	115	10	3.04	3m @ 8.34 g/t Au
ZDD806	11	29	18	3.67	6m @ 8.27 g/t Au
ZDD817	112	126	14	2.14	7m @ 3.26 g/t Au
ZDD859	37	47	10	16.53	5m @ 32.61 g/t Au
ZDD859	113	114	1	21.87	1m @ 21.87 g/t Au

Drill collar details and assay results are in Table 7 and Table 10 respectively. Location of the reported drill collars and associated assay results is presented in Figure 1. An oblique cross‐ section highlighting selected assay results is presented in Figure 5 and an oblique long section presents the results in Figure 6.

Tietto is completing infill drilling at AG on 25m line spacing (Measured Resource) between Section Lines 14 to 30 across the AG Core to a depth covering the first two years of gold production at Abujar (~120m vertical depth).

Tietto has now reported results for 176 holes for 32,401m with the release of this eighth batch. Significant intersections (>=20 gold gram metres) from the program including those from this release are presented in Table 2.

Table 2: AG Core ‐ significant intersections from infill program greater than 20 gold gram metres5

Hole id	From	To	Length	g/t Au	gold gram metres	ASX Reporting
ZDD685	54	56	2	143.77	288	13 Oct 2021
ZDD687	69	85	16	17.60	282	22 Sep 2021
ZDD696	125	132	7	30.67	215	21 Oct 2021
ZDD859	37	47	10	16.53	165	20 Jan 2022
ZDD665	97	119	22	5.62	124	13 Oct 2021

• 0.4 g/t Au cut off used with max 3m internal dilution and no top cut applied
  4 1.0 g/t Au cut off used with max 3m internal dilution and no top cut applied 5 0.4 g/t Au cut off used with max 3m internal dilution and no top cut applied