Avesoro Resources Inc. provided consolidated production guidance for the year 2019. For the year, the company is expecting consolidated gold production to be 210,000 to 230,000 ounces.

The company announced positive results from the Pre-Feasibility Study (PFS) for its New Liberty Gold Mine in Liberia, including an updated Mineral Resource and Mineral Reserve estimate, Maiden Mineral Reserves at the Ndablama satellite deposit and an updated Life of Mine (LOM) plan, incorporating the transition to underground mining operations. Pre-Feasibility Study highlights: Seven year LOM extension to 2029, based on current proven and probable mineral reserves, with potential to extend further via the drilling of prospective satellite prospects across the company's 1,394 km2 exploration portfolio surrounding New Liberty; Proven and Probable Mineral Reserves increased by 89% to 17 Mt containing 1,355,000 ounces of gold grading 2.49 g/t; New Liberty Open Pit Mineral Reserves are 4.91 Mt containing 494,000 ounces of gold grading 3.12 g/t; New Liberty Underground Mineral Reserves are 4.66 Mt containing 461,000 ounces of gold grading 3.08 g/t; Ndablama Open Pit Maiden Mineral Reserves are 7.28 Mt containing 400,000 ounces gold grading 1.71 g/t; Measured and Indicated Mineral Resource of 20.47 Mt containing 1,748,200 ounces of gold grading 2.66 g/t; Inferred Mineral Resource of 3.0 Mt containing 271,000 ounces of gold grading 2.8 g/t; The New Liberty Mineral Resource remains open down dip, whilst the Ndablama Mineral Resource remains open down dip, as well as along strike. Additional resource development drilling in these areas has the potential to increase the resource base and infill drilling has the potential to convert a further portion of the existing Inferred Mineral Resources to the Indicated Mineral Resource category; Total forecast recovered gold of 1,259,446 ounces over LOM; Average forecast annual gold production of approximately 114,500 ounces over an eleven year LOM (2019 to 2029); Total development capital cost of USD 35.9 million; Average LOM operating cash costs of USD 767 per ounce and all in sustaining cash costs (AISC) of USD 862 per ounce; and Post Tax NPV of USD 286 million at a 5% discount rate and USD 1,300/oz gold price (after debt repayment and associated finance charges) and LOM free cash generation of USD 370 million.