Overview of Turaco Gold's recent acquisition and drilling program

Turaco Gold Limited (ASX: $TCG) has successfully completed the acquisition of an initial 51% interest in Taurus Gold Afema Holdings Ltd ('TGAH'), which holds the Afema Gold Project in south-eastern Cote d'Ivoire. The company issued 46.5 million shares (escrowed for 12 months) and made a US$1.5 million payment to Endeavour Canada Holdings, a subsidiary of Endeavour Mining Plc, resulting in Endeavour becoming a ~7% shareholder in Turaco. An aggressive drilling program is currently underway to expedite the delineation of a maiden JORC mineral resource estimate for the Afema Gold Project, with over 1,000m of diamond drilling already completed at the Jonction and Anuiri deposits along the mineralised Afema Shear, and initial assays imminent. Metallurgical test work on existing drill core from past drilling at Woulo Woulo is also nearing completion, showcasing the company's commitment to advancing the project.

Executive commentary on the acquisition and drilling program

The completion of the acquisition of the Afema Gold Project allows Turaco to rapidly advance the project with drilling to define a maiden JORC mineral resource estimate in the short term, and thereafter to continue to grow that resource. There is excellent potential to extend areas of known mineralisation and for new discoveries. We look forward to announcing initial drill results in the coming days and regular results thereafter. We welcome Endeavour as a substantial shareholder in Turaco.

Summary of Turaco Gold's recent announcement

Turaco Gold Limited (ASX: $TCG) has successfully completed the acquisition of an initial 51% interest in the Afema Gold Project, with the right to increase to 70%. The company has initiated an aggressive drilling program to expedite the delineation of a maiden JORC mineral resource estimate for the project, with over 1,000m of diamond drilling already completed at the Jonction and Anuiri deposits along the mineralised Afema Shear, and initial assays imminent. Metallurgical test work on existing drill core from past drilling at Woulo Woulo is also nearing completion. Turaco's Managing Director, Justin Tremain, expressed optimism about the project's potential for extension of known mineralisation and new discoveries. The company's completion of the acquisition and progress with the drilling program reflect its commitment to advancing the Afema Gold Project and its future growth prospects.