Technical report on Mano river resources. gold properties in Liberia, Sierra Leone and Guinea / Технический отчет о ресурсах реки Мано. месторождения золота в Либерии, Сьерра-Леоне и Гвинее

In Liberia, Mano has interests in 3 mineral licences with gold exploration activity. To date most exploration has focused on the 100,000 hectare license known as the Bea Mountain Mineral Development Agreement (BEA-MDA) in western Liberia. Mano has a 100% interest in the BEA-MDA license subject to a 10% free carried interest and a 3% royalty in favour of the Republic of Liberia. The MCA reconnaissance license (1,500,000 hectares) is held under a Mineral Cooperation Agreement (MCA) with the Republic of Liberia. Mano has a 70% interest in this License area with the Government of Liberia retaining a 30% participating interest. Mano is spinning off a 90,000 hectare portion of the MCA into a separate Mineral Exploration Agreement (MEA) known as Camp Alpha and subject to the same MCA terms and conditions. In Sierra Leone, Mano holds 3 sets of Exclusive Prospecting or Exploration Licences (EPL/EXPL’s): Pampana (3 licences totalling: 25,070 ha), Nimini (2 licences totalling: 17,300 ha) and Sonfon (2 licences totalling: 25,800 ha), the latter a 50/50 joint venture with Golden Prospect. Through a wrap-around joint venture agreement, Golden Star Resources can earn a 51% interest in all 3 sets of EPL/EXPL’s. In addition, Mano holds a Reconnaissance Exploration License (REPL) covering 970,000 hectares in southeastern Sierra Leone. The REPL license is subject to a joint venture agreement, which will allow BHP Billiton World Exploration Inc. the right to earn an initial 51% interest in the license.
In Guinea, Mano’s holds the Missamana and Gueliban Exploration Permits (totalling 49,800 ha). Through a joint venture Navasota Resources Ltd. has the right to earn a 60% interest in these permits.<...>