Tietto Minerals : Hits Up to 63.85g/t Au in AG South Infill Drilling

Tietto Minerals Ltd

Unit 7, 162 Colin Street Perth, WA 6005

Tel: [phone]

Web: www.tietto.com

12 July 2022

Tietto hits up to 63.85 g/t gold in AG South infill drilling at Abujar

Highlights:

 Tietto adds more high‐grade gold intercepts from infill drilling (25m spacing) at AG South on the main

only	Abujar Shear at its 3.45Moz Abujar Gold Project; results include:
 4m @ 16.16 g/t Au from 19m incl. 3m @ 21.36 g/t Au which includes 1m @ 62.27 g/t Au from
	21m (ZDD1178 ‐ Section 12A)
	 1m @ 63.85 g/t Au from 72m (ZDD1189 ‐ Section 11A)
	 1m @ 35.82 g/t Au from 313m (ZDD1052 - Section 4C)
	Latest results received from AG South infill drilling (26 DD holes for 5,227.2m), part of an expanded
use	program targeting delineation of Measured Resources (over 2.9km) expected to be mined during the
	first two years of Abujar gold production
	Assays pending for infill holes (63 DD holes for 8,992.5m) drilled at AG South and AG Core
	Tietto's six diamond rigs are actively drilling, with more than 100,000m of drilling forecast in CY22
	Abujar DFS demonstrated robust financial results and estimated first‐year gold production of
personal	260,000oz and 1.2Moz over the first six years of Abujar's 11‐year mine life for an NPV5% of A$1.3B
(pre‐tax) and A$0.97B (post‐tax) using US$1,700/oz Au and A$/US$=0.741

 Updated Abujar LOM production plan on track for delivery early Q3 CY22  Abujar gold plant construction is on target for first gold in Q4 CY22

 Construction at Abujar Gold Project is fully funded with no debt.

West African gold explorer and developer Tietto Minerals Limited (ASX: TIE) (Tietto or the Company) is pleased to report further high‐grade gold results from infill drilling completed at AG South, part of its 3.45Moz Abujar Gold Project in Côte d'Ivoire, West Africa.

ForTietto Managing Director, Dr Caigen Wang, said: "Our infill drilling continues to add more shallow high‐ grade gold intercepts to our ever‐expanding drilling database; this time at AG South. We are confirming continuity of these high‐grade shoots in close spaced 25m drilling. ZDD1178 sits outside of the DFS pit, which adds the potential to increase our mining inventory.

"These results are from an expanded infill drilling program aiming to define Measured Resources over 2.9km between Section Lines 0 to 29 at AG South and AG Core expected to be mined during the first two

• Refer ASX Announcement dated 5th October 2021

Length

1.00

4.00

1.00

1.00

4.00

4.00

2.00

1.00

Depth to

314.00

146.00

68.00

245.00

261.00

23.00

50.00

73.00

Depth from

313.00

142.00

67.00

244.00

257.00

19.00

48.00

72.00

Hole id

ZDD1052

ZDD1054

ZDD1076

ZDD1105

ZDD1125

ZDD1178

ZDD1179

ZDD1189

Table 1: Significant Intersections from AG South infill drilling2

g/t Au 35.82 2.88 15.77 7.43 2.05 16.16 2.25 63.85

includes3

1m @ 35.82 g/t Au

4m @ 2.88 g/t Au

1m @ 15.77 g/t Au

1m @ 7.43 g/t Au

2m @ 3.74 g/t Au

3m @ 21.36 g/t Au

2m @ 2.25 g/t Au

1m @ 63.85 g/t Au

Tietto Minerals Ltd

Unit 7, 162 Colin Street Perth, WA 6005

Tel: [phone]

Web: www.tietto.com

years of production. Once this program is completed, our drill rigs will move to the main Abujar Shear, which is still largely untested, and undertake new resource definition drilling.

only"We are fully funded to production at Abujar, which has potential to be one of the largest gold producing mines in Côte d'Ivoire, with an expected production of 260,000 ounces of gold in the first year and 1.2M ounces of gold in the first six years.

"Tietto has an experienced team on board to deliver Abujar on time and on budget. We are on track to deliver another mineral resource update this year. Shareholders can also expect further updates from our aggressive diamond drilling program as we advance our dual strategy of 'Drill and Build' and develop our Abujar Project into West Africa's next gold mine, with first gold by the end of Q4 CY22."

useInfill Drilling - AG Core

Tietto is pleased to report the latest batch of assay results (26 DD holes for 5,227.2m) from infill diamond drilling at AG South. Tietto designed this program to convert Indicated Resources at AG South into Measured Resources in the next MRE update expected later this year. More significant intersections personalreceived from 1m diamond drill samples are summarised in Table 1. Drill collar details and assay results are in Table 3 and Table 4 respectively. Locations of the reported drill collars and associated assay results are presented in Figure 3. An oblique cross‐section highlighting selected assay results is presented in Figure 4 and an oblique long section presents the results in Figure

For5.

Tietto is completing infill drilling at AG South on 25m line spacings between Section Lines 0 to 13 to a depth covering the first two years of gold production at Abujar (~120m vertical depth). With the addition of the new intercepts, Tietto has now intersected 16 intervals greater than 50 gold gram metres at AG South (Table 2).

Gold mineralisation at AG South remains open at depth and Tietto is planning further drilling to assess the potential below the planned DFS open pit.

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

Tietto Minerals Ltd

Unit 7, 162 Colin Street Perth, WA 6005

Tel: [phone]

Web: www.tietto.com

			Table 2: AG South ‐ significant intersections greater than 50 gold gram metres4
	Hole id	From		To	Length	g/t Au	gold gram metres	Section
only
	ZDD542	99		108	9	61.97	558	6
	ZDD491	53		60	7	51.56	361	6B
	ZDD539	64		67	3	58.61	176	9B
	ZDD483	71		74	3	52.95	159	4B
	ARC04	102		110	8	13.66	109	5
	ZDD536	63		67	4	26.05	104	5B
	ZDD181	34		40	6	16.09	97	1B
	ZDD1068	43		47	4	18.96	76	11C
	ARC05	12		20	8	9.06	72	2B
useZDD1036	86		88	2	27.65	55	7C
	ZDD807	181		188	7	9.78	68	1B
	ZDD814	254		261	7	9.38	66	3B
	ZDD1178	19		23	4	16.16	65	12A
	ZDD239	183		184	1	64.3	64	2
	ZDD1189	72		73	1	63.85	64	11A
	ARC03	64		70	6	9.22	55	7
personal
	Next Steps

Tietto completed a A$130 million two‐tranche placement to accelerate development of Abujar, with no debt. The placement allowed the participation of like‐minded investors, keen for the Company to realise first gold production by Q4 CY22 and produce 260,000oz gold in 2023.

Tietto remains very well positioned to advance its dual strategy of 'Drill and Build' throughout 2022:

1. Continue to drive rapid resource growth at the 3.45Moz Abujar Gold Project; and
2. Fast‐track development of Abujar Gold Project to achieve first gold in Q4 CY22.

Tietto continues to deliver project milestones; with Abujar's maiden Measured gold resources of 7.7Mt @ 1.4 g/t Au for 350,000oz reported on 11 April 2022. Tietto will deliver an update on Abujar's LOM production plan in early Q3 CY22 using the updated Mineral Resource Estimate, increased mill throughput and higher gold prices (spot price is +35% greater than US$1407/oz used in the DFS5), targeting a material

Forincrease to existing LOM production. Tietto has expanded this to incorporate a scoping study to determine the economic benefits of a heap leach operation at APG running in parallel to the Abujar CIL operation.

Tietto is advancing construction of the process plant and associated infrastructure, which remains on schedule. Abujar Gold Project is progressing towards first gold pour by the end of Q4 CY22 and is on track to become West Africa's next producing gold mine.

ENDS

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

• ASX 5 October 2021

Tietto Minerals Ltd

Unit 7, 162 Colin Street Perth, WA 6005

Tel: [phone]

Web: www.tietto.com

This update has been authorised on behalf of Tietto Minerals Limited by:

Dr Caigen Wang	Mark Strizek
Managing Director	Executive Director
only	Mob: [phone]
Tel: [phone]

Competent Persons' Statements

The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mr Mark Strizek, a Competent Person who is a Member or The Australasian Institute of Mining and Metallurgy. Mr Strizek is a non‐executive director of the Company. Mr Strizek has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Strizek consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears. Additionally, Mr Strizek confirms that the entity is not aware of any new information or data that materially affects the information contained in the ASX releases referred to in this report.

useThe information in this presentation that relates to Mineral Resources was prepared by RPM Global and released on the ASX platform on 11 April 2022. The Company confirms that it is not aware of any new information or data that materially affects the Minerals Resources in this publication. The Company confirms that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the RPM Global's findings are presented have not been materially modified.

The information in this report that relates to Mineral Resources is based on information evaluated by Mr Jeremy Clark who is a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM) and who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Clark is an associate of RPM and he consents to the inclusion of the estimates in the report of the Mineral Resource in the form and context in which they appear.

personalThe information in this report that relates to Ore Reserves was prepared by RPM and released on the ASX platform on 5 October 2021. The Company confirms that it is not aware of any new information or data that materially affects the Ore Reserves in this publication. The Company confirms that all material ssumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form

nd context in which the RPM findings are presented have not been materially modified

The information in the report that relates to Ore Reserves for the Abujar Gold Project is based on information compiled and reviewed by Mr. Igor Bojanic, who is a Fellow of the Australasian Institute of Mining and Metallurgy,and is an employee of RPM. Mr. Igor Bojanic has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he has undertaken to qualify as a Competent Person, as defined in the 2012 Edition of the Australasian Code for the Reporting of Mineral Resources and Ore Reserves. Mr. Igor Bojanic is not aware of any potential for a c nflict of interest in relation to this work for the Client. The estimates of Ore Reserves presented in this Statement have been carried out in accordance with the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (30 September, 2021).

Compliance Statement

This report contains information extracted from ASX market announcements reported in accordance with the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" ("2012 JORC Code") and available for viewing at www.tietto.com. Includes results reported previously and published on ASX platform, 16 January 2018, 27 March 2018, 23 April 2018, 8 May 2018, 7 June 2018, 4 October 2018, 1 November 2018, 28 November 2018, 31 January 2019, 26 February 2019, 12 March 2019, 19 March 2019, 9 April 2019, 9 May 2019, 30 May 2019, 9 July 2019, 26 July 2019, 2 October 2019, 24 October 2019, 12 December 2019, 23 January 2020, 20 February 2020, 10 March 2020, 24 March 2020, 2 April 2020, 9 April 2020, 23 April 2020, 3 June 2020, 9 June 2020, 25 June 2020, 2 July 2020, 21 July 2020 20 July 2020, 29 July 2020, 19 August 2020, 9 September 2020, 24 September 2020, 26 October 2020, 11 December 2020, 18 January 2021, 12 February 2021, 23 February 2021, 23 March 2021, 6 April 2021, 8 April 2021, 20 April 2021, 3 May 2021, 6 May 2021, 11 May 2021, 21 May 2021, 27 May 2021, 11 June 2021, 16 June 2021, 12 July 2021, 10 September 2021, 22 September 2021, 5 October 2021, 13 October 2021, 21 October 2021, 8 November 2021, 12 November 2021, 16 November 2021, 22 November 2021, 30 November 2021, 10 December 2021, 22 December 2021, 18 January 2022, 20 January 2022, 24 January 2022, 7 February 2022, 14 February 2022, 18 February 2022, 25 February 2022, 15 March 2022, 29 March 2022, 11 April 2022, 29 April 2022, 4 May 2022, 16 May 2022, 24 May 2022, 8 June 2022, 10 June 2022, 14 June 2022, 29 June

For2022 and 4 July 2022. The Company confirms that all material assumptions and technical parameters underpinning the Mineral Resources and Ore Reserves continue to apply and have not materially changed. The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous announcements.

Tietto Minerals Ltd

Unit 7, 162 Colin Street Perth, WA 6005

Tel: [phone]

Web: www.tietto.com

Table 3: Drill Collar Information

For personal use only

Hole ID	Easting	Northing	Elevation	Depth (m)	dip	Azi	Section	Drill Type	Area
ZDD1052	752,670	764,852	216	367.5	‐50	305	4C	DD
ZDD1054	752,832	765,349	228	196	‐50	305	9C	DD
ZDD1075	752,885	765,620	223	87	‐50	305	12A	DD
ZDD1076	752,919	765,593	222	145.5	‐50	305	12A	DD
ZDD1086	752,991	765,420	219	306	‐50	305	11A	DD
ZDD1091	753,044	765,506	217	350	‐50	305	12A	DD
ZDD1096	752,673	765,032	221	246	‐50	305	6A	DD
ZDD1105	753,016	765,464	219	345	‐50	305	11C	DD
ZDD1116	752,703	765,073	223	246	‐50	305	6C	DD
ZDD1119	752,898	765,365	223	247.5	‐50	305	10A	DD
ZDD1124	752,738	765,049	220	306	‐50	305	6C	DD
ZDD1125	752,935	765,334	221	325.5	‐50	305	10A	DD
ZDD1135	752,731	765,113	222	246	‐50	305	7A	DD	AG South
ZDD1136	752,915	765,290	220	306	‐50	305	9C	DD
ZDD1140	752,772	765,086	219	305	‐50	305	7A	DD
ZDD1144	752,886	765,250	220	345	‐50	305	9A	DD
ZDD1177	752,883	765,653	222	61.5	‐54	305	12B	DD
ZDD1178	752,898	765,603	223	76.5	‐49	305	12A	DD
ZDD1179	752,890	765,583	223	77	‐48	305	12	DD
ZDD1182	752,870	765,563	224	70.5	‐50	305	11C	DD
ZDD1183	752,937	765,553	221	127.5	‐54	305	12	DD
ZDD1185	752,913	765,538	223	108	‐51	305	11C	DD
ZDD1188	752,894	765,519	224	110	‐50	305	11B	DD
ZDD1189	752,883	765,493	225	81.7	‐51	305	11A	DD
ZDD1190	752,844	765,519	228	73.5	‐54	305	11A	DD
ZDD1193	752,830	765,511	229	71	‐50	305	11	DD
26 Holes				5,227.2m

		Table 4: Assay results being reported for completed holes6
Hole id	Depth from	Depth to	Length	g/t Au	Includes7
ZDD1052	290.00	291.00	1.00	0.99
ZDD1052	313.00	314.00	1.00	35.82	1m @ 35.82 g/t Au
ZDD1054	73.00	74.00	1.00	1.07	1m @ 1.07 g/t Au
ZDD1054	79.00	81.00	2.00	1.76	1m @ 2.92 g/t Au
ZDD1054	85.00	89.00	4.00	0.84	1m @ 1.05 g/t Au
ZDD1054	111.00	112.00	1.00	0.55
ZDD1054	122.00	123.00	1.00	0.73
ZDD1054	129.00	132.00	3.00	0.56	1m @ 1.19 g/t Au

• 0.4 g/t Au cut off used with max 3m internal dilution and no top cut applied
  7 1.0 g/t Au cut off used with max 3m internal dilution and no top cut applied