Turaco Gold Limited (ASX:TCG) is an ASX-listed gold exploration and development company advancing the Afema Gold Project in southern Côte d’Ivoire, West Africa.

Since acquiring Afema in March 2024, Turaco has rapidly transformed the project into one of the most significant undeveloped gold assets in West Africa. Following the maiden JORC Mineral Resource Estimate (MRE) of 2.52Moz in August 2024, continued drilling success has increased the Afema MRE to 4.65Moz at 1.3g/t gold as at March 2026, establishing Afema as a globally significant gold project with substantial exploration upside.

In June 2026, Turaco completed a Pre-Feasibility Study (PFS) confirming Afema as a robust, long-life gold development project capable of producing approximately 200,000 ounces of gold per annum over a 10.3-year mine life. The Study is underpinned by a maiden JORC Probable Ore Reserve of 55.1Mt at 1.1g/t gold for 1.91Moz and outlines total recovered gold production of approximately 2.0Moz from a conventional open pit mining operation and 6.0Mtpa processing facility.

The PFS demonstrates the high-confidence nature of the Afema resource base, with ongoing infill drilling successfully converting Inferred Resources to Indicated Resources with negligible loss of tonnes or grade. The Study also highlights Afema’s attractive development characteristics, including low capital intensity, minimal resettlement requirements and significant opportunities to further enhance value through ongoing resource growth, mine life extensions, potential underground development and project optimisation.

Importantly, the current mine plan excludes several nearby mineralised areas and exploration targets within the broader Afema district, highlighting substantial potential to expand the existing reserve base and extend mine life beyond that contemplated in the PFS. All major deposits remain open along strike and at depth.

The Afema Project is centred on a granted Mining Permit, supported by a Mining Convention with the State of Côte d’Ivoire, covering 227km². The broader Afema land package exceeds 1,600km², comprising the central mining permit, three contiguous exploration permits, an additional exploration permit application (228km²), and an option over a further application area (366km²).

Turaco continues to advance Afema toward development while maintaining an active exploration program across the broader district. Ongoing drilling is focused on expanding the resource base, converting resources to reserves and unlocking additional growth opportunities beyond the current mine plan.

The Company is led by a highly experienced Board with a strong track record of gold discovery, development and value creation, including Justin Tremain (Managing Director), John Fitzgerald (Chairman), and Non-Executive Directors Bruce Mowat and Ian Kerr. Collectively, the Board has played key roles in the success of companies including Renaissance Minerals, Emerald Resources, Exore Resources, Papillon Resources, Northern Star and Sandfire Resources.