Mr. Benjamin Cohen reports

ROBEX RESOURCES INC. FOURTH QUARTER 2019: NEW PRODUCTION PROGRESSING VERY WELL - LAUNCH OF AN AMBITIOUS EXPLORATION PLAN

Robex Resources Inc. has released strong results from the Nampala mine for the last quarter and full year of 2019. These results relate to production and sales. Moreover, high hopes are based on an ambitious exploration plan.

Gold production up sharply

The 2019 fourth quarter attributable gold production of 17,361 ounces exceeded the production of the third quarter of 2019 (15,175 ounces). This new performance is due to improvements in grade (1.115 grams per tonne (g/t) versus 1.051 g/t), recovery (89.8 per cent versus 87.7 per cent) and the result of continuous improvement (539,128 tonnes processed versus 512,378 tonnes processed).

The new main crusher (mineral sizer) has successfully met its objective of stabilizing plant availability by reducing blockages caused by coarse ore and the company is planning to install a secondary crusher to further improve production.

Due to the steady improvement in results over 2019, higher-than-2018 attributable gold production of 55,685 ounces was achieved, compared with 46,278 ounces in 2018, representing a 20-per-cent increase.

The production data presented was validated by Antoine Berton, engineer, doctor of philosophy, a metallurgist at Soutex, a consulting firm in metallurgy and ore processing working on the Nampala site.

Sales achieved

The fourth quarter resulted in sales of 17,742 ounces, compared with 13,275 ounces in the third quarter of 2019.

The price of gold is rising

Like all gold mines, the Nampala mine has benefited from high gold prices, which over the last six months have been at their highest levels in five years.

Security

Although the mine is located in the sub-Saharan region, the zone where the company is located remains calm and has not been affected by security concerns.

Exploration -- a major budget for 2020

All the factors above have enabled the decision to set aside a budget of $13.8-million for exploration in 2020:

• $10.5-million mainly allocated directly adjacent to the existing Nampala mine facilities;
• $3.3-million has also been set aside for all the company's other permits.

This is accompanied by the increase in the exploration department's equipment and staff; simultaneously, the company has increased the laboratory's capacity.

The company intends to maintain this endeavour for the years to come.

The main goal is to obtain additional reserves and resources.

In the context of the mobilization of additional resources at the Nampala deposit, Robex initiated a significant 171,990-metre drilling program around the pit on the Nampala permit and the northern part of the Mininko permit.

The program is divided into eight targets.

These targets were defined based on geophysical and geochemical data and take into account previous drilling and work.

Definition of target zones

1) The Eastern zone

This zone is located 220 metres (m) east of the current pit on a zone measuring 1,600 m long by 400 m wide. It is located on a geophysical resistivity structure that runs parallel to the main pit structure. This zone has been drilled during several campaigns in 2005, 2012, 2017 and 2018. These programs confirmed the mineral potential of the area.

Four minable pits have been identified on this target; however, the number of drill holes drilled thus far is insufficient compared with the zone area to make a resource assessment. It is, therefore, a question of completing the work carried out.

The present program on this target is a definition program that consists of tightening the mesh to 25 m by 50 m in a staggered grid for a better definition of the mineralized contours to have a single pit on this target. To this end, 41,760 m of drilling has been planned.

2) The Eastern2 zone

This zone is located 150 m from and parallel to the East zone for 2,000 m long by 250 m wide. This structure will be the subject of 16,650 m of drilling to test the zone's gold mineralization potential.

3) The Southern zone

Adjacent to the southern extension of the main pit, this zone is located on the same resistivity structure as the current pit. Its area measures 1,000 m long by 250 m wide. This zone was drilled in previous campaigns and has cleared mineralized areas.

The objective of this 14,400-metre drilling campaign is to tighten the mesh to 50 m by 50 m to extend the pit.

4) The Western zone

Adjacent to the existing pit, this zone is located on the western extension of the main pit's resistivity structure. This zone is 750 m long by 280 m wide. This zone was drilled in previous campaigns.

The objective of this program is to tighten the mesh to 25 m by 50 m for a better definition of the mineralized contours. To this end, a 19,080-metre drilling program has been planned.

5) The Cell 5 zone

This zone will be the future tailings disposal area for the plant's pulp discharge.

This program is a so-called condemnation program; it was initiated to avoid depositing the company's tailings on a potentially mineralized zone. To this end, 21,870 m of drilling has been planned.

6) The Northwestern zone

This zone is on the north extension of the main pit.

The objective of this program is to test the extension of this structure and its potential for gold mineralization. This zone is 1,750 m long by 500 m wide. To this end, 19,080 m of drilling has been planned.

7) The North zone

This zone is on the North extension of the East zone

The objective of this program is to test the extension of this structure and its potential for gold mineralization. This zone is 2,000 m long by 400 m wide. To this end, 19,440 m of drilling has been planned.

8) The Northeastern zone

This zone is on the North extension of the East2 zone. The objective of this program is to test the extension of this structure and its potential for gold mineralization. This zone is 1,800 m long by 500 m wide. To this end, 19,710 m of drilling has been planned.

Five million hours without a work stoppage accident

Management's focus on safety and employee awareness of the priority of workplace safety has enabled the Nampala mine to accumulate five million working hours, or the equivalent of three years, without a work stoppage accident, which makes the company proud.

Corporate social responsibility (CSR)

The company is continuing the continuing efforts on behalf of the populations neighbouring the mine.

The mine has just developed a new community development plan, which is a document that outlines how the mine will help the surrounding communities. This plan was developed with the communities and will succeed the one that was fully implemented in compliance with the commitments made and that have been met.

We seek Safe Harbor.