Update on Company operations — Jonnagiri Gold Mining Project

We are pleased to present an Update on the Jonnagiri Gold Mining Project of Geomysore Services (India) Private Limited (“Geomysore”) which is located in Andhra Pradesh, India.

1. Funding:

1.1 Key shareholders of Geomysore viz., Thriveni Earth Movers Pvt Ltd (“Thriveni’) and Deccan Gold Mines Limited (““DGML”) have agreed to infuse INR 60 Cr of Equity Capital into Geomysore by the end of August, 2023.

1.2 Thriveni has already invested INR 15 Cr with the balance INR 25 Cr expected by the end of August, 2023. DGML is also committed to infuse a further INR 20Cr in the month of August, 2023.

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