Altus Strategies Plc announced the publication of an updated independent Mineral Resource Estimate and Preliminary Economic Assessment forits 100% owned Diba & Lakanfla gold project located in western Mali. The updated PEA describes the potential technical and economic viability of establishing a conventional open-pit gold mine for Diba & Lakanfla. The updated PEA technical report has been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators by independent consulting firm Mining Plus UK Ltd. of Bristol, United Kingdom.

The updated MRE comprises 7,800,000 tonnes grading 1.24 g/t Au for 312,000 oz of contained gold in the Indicated category and a further 12,700,000 tonnes grading 0.87 g/t Au for 362,000 oz of contained gold in the Inferred category, representing a 67% increase in both categories when compared to the previous MRE with an effective date of 18 November 2020. This MRE update follows an 11,832 metre ("m") programme of infill drilling completed by the Company in First Quarter 2022 across Diba & Lakanfla, with results reported on 17 March 2022 (see news release entitled Further Significant Intercepts from Diba & Lakanfla Gold Project in Western Mali), 15 February 2022 (see news release entitled Altus Intersect 1.23 g/t over 127m at Lakanfla Central Prospect in Western Mali) and 21 January 2022. The 81km2 Diba licence (Korali Sud) and the 24km2 Lakanfla licence are located 5km apart in the Kayes region of western Mali, approximately 450km northwest of the capital city of Bamako.

Diba & Lakanfla is located adjacent to the multi-million ounce Sadiola gold mine licence and 35km south of the multi-million ounce Yatela former gold mine, both acquired by Allied Gold Corporation from the previous operators AngloGold Ashanti and IAMGOLD Corporation (TSX: IMG and NYSE: IAG). Mineralisation hosted at these mines is not necessarily indicative of mineralisation hosted at Diba & Lakanfla. Diba & Lakanfla: Geology and Mineralisation,Diba Licence Mineralisation at the Diba Deposit on the Diba licence is sediment-hosted within a series of stacked quartz lenses, typically between 20m and 40m thick.

The lenses are shallow-dipping at approximately 30 degrees angled to the east/east-southeast. The Diba Deposit is considered to be controlled by a number of northwest and northeast orientated structures, with gold occurring as fine-grained disseminations in localised high-grade, calcite-quartz veinlets. Alteration at the Diba Deposit is typically albite-hematite+/-pyrite, although pyrite content is generally very low (<1%).

The weathering profile at the Diba Deposit is estimated to be up to 70m vertical depth, resulting in extensive oxidation from surface. The oxide gold mineralisation at the Diba Deposit is predominantly found in saprolite within 50m of surface and across a compact 700m x 700m area.