BUREY GOLD LIMITED Level 1, Suite 5

The Business Centre

55 Salvado Road

Subiaco WA 6008

Australia

P. +61 8 9381 2299

F. +61 8 9380 6761

A.B.N. 14 113 517 203

31 July 2015

JUNE 2015 QUARTERLY ACTIVITY REPORT

Burey Gold reports its activities and corporate developments for the quarter ended 30 June 2015.

HIGHLIGHTS

• Results received for 16 additional holes from the Kebigada Shear Zone at the Giro Gold
Project in the Kilo-Moto Gold Belt, DRC
• Significant results included:

 GRRC075: 47m at 4.13g/t Au from 25m, including 29m at 5.93g/t Au from 25m

 R02: 16m at 3.95g/t Au from 15m and 35m at 2.28g/t Au from 81m including

13m at 4.17g/t Au from 103m

 GRRC077: 30m at 2.36g/t Au from 37m

 GRRC082: 73m at 1.17g/t Au from surface

 GRRC081: 52m at 1.28g/t Au from 20m

• Mineralisation reported from all drill lines covering the western portion of 2,000m by 900m gold in soil anomaly (>200ppb)
• Gold mineralisation confirmed from surface with many holes ending in mineralization
• Significant mineralisation confirmed over 700m by 400m and open in all directions and at depth
• RC drilling continuing every 200m to cover the 200ppb gold in-soil anomaly
• A significant 3km NNW trending IP anomaly confirmed orientation and strike extent of mineralisation
• Diamond drilling programme planned for structural controls

Corporate

Capital raisings of $3.5 million completed during the Quarter to maintain the exploration momentum at Giro.

Plans for the September 2015 Quarter

• Complete the current 4,000m RC drilling programme across the 200ppb gold in soil anomaly
• Commence Diamond drilling to identify structural controls of gold mineralisation and to confirm this mineralisation continues at depths exceeding 100m
• First pass Diamond drilling at Mangote and Kai-Kai historical Belgian workings in the north
• Detailed mapping, trenching and sampling at Peteku where Belgians mined to the west of
Giro

1 | P a g e

• Continue broad spaced soil sampling over both tenements with initial focus on the 30km interpreted structural corridor
Burey Gold Limited (ASX: BYR) is pleased to report on its activities for the June 2015 quarter at the Company's Giro Gold Project in the Moto Gold Belt, Democratic Republic of Congo (DRC), and the Balatindi Project in Guinea.

GIRO GOLD PROJECT, DEMOCRATIC REPUBLIC OF CONGO (Burey 55.25%)

The Giro Project comprises two exploration permits covering a surface area of 610km² and lies within the Kilo-Moto Belt, a significant under-explored greenstone belt which hosts Randgold Resources' 17 million ounce Kibali group of deposits within 30km of Giro. Kibali is targeting production of 600,000 ounces of gold in 2015. Other deposits in the belt include Anglogold Ashanti's deposits to the southeast, and Loncore and Kilogold deposits to the south.
The Giro Project area is underlain by highly prospective volcano-sedimentary lithologies in a similar structural and lithological setting as the Kibali gold deposits. Both primary and alluvial gold was mined from two main areas, the Giro and Tora areas, during Belgian rule and today these areas are mined extensively by artisanal miners.
During the Quarter, Burey received drilling results for a further 16 drill holes which reached planned depths at its Giro Gold Project in the Kilo-Moto Belt, Northeast DRC. These results complete the initial planned drill programme and confirm mineralisation extends to depths exceeding those reported from the shallow drilling and that gold mineralisation is open in all directions and at depth.
The drilling programme was then extended to cover the >200ppb gold in soil anomaly. Thirty nine holes for roughly 4,000 metres are planned to cover the anomaly every 100m to 200m. Since commencement of the new programme, 29 holes have been completed for 2,615 metres and 1,980 samples have been despatched for assaying.

Drilling

Latest results are from 9 holes drilled on Line 2, 5 holes on Line 6 as well as two reverse holes drilled on Lines 1 and 1A for a better understanding of the gold distribution. Best results on Line 2 included
47m at 4.13g/t Au from 25m, including 29m at 5.93g/t Au from 25m in GRRC075 and 30m at 2.36g/t
Au from 37m in GRRC077. Line 2 was extended to include 3 additional holes to test mineralisation under the soil anomaly to the north-east.
The eastern two holes reported 52m at 1.28g/t Au from 20m in GRRC081 and 73m at 1.17g/t Au from surface in GRRC082 at the end of the line. Both holes were drilled to the northeast of previous drilling where gold mineralisation has been extended to cover a minimum of 400m across the interpreted Kebigada Shear Zone. Line 6 to the south reported a best intercept of 31m at 1.86g/t Au from 39m in GRRC086 from 5 drill holes.
Two drill holes, R01 and R02, were drilled towards the southwest on Lines 1 and 1A as shown in Figure 1 for a better understanding of the orientation of mineralised loads and for complete coverage of the interpreted Kebigada Shear contact to the west. Drill hole R01 only reported 13m at 1.35g/t from 49m, and is interpreted to have been drilled over the load potentially dipping to the south whereas R02 reported significant intercepts of 16m at 3.95g/t Au from 15m and 35m at 2.28g/t Au from 81m including 13m at 4.17g/t Au from 103m.
Detailed results were provided in the announcement dated 9 June 2015.
Mineralisation has not been closed off in either direction or at depth on both Lines 2 and 6. Results received to date continue to confirm significant primary mineralisation associated with the 2,000 x
900 metre (>200ppb) gold in soil anomaly reported previously.
Drilling has confirmed that the soil anomaly is clearly associated with underlying gold mineralization.

2 | P a g e

The Company has experienced delays in receiving results due to the closure of the Ugandan/DRC border for an extended period where samples were held up at the border crossing during this period. The transporter has subsequently found an alternative route to prevent further delays.

Figure 1: Locality Map showing significant mine ralised inte rcepts and artisanal workings.

Further Exploration:

In addition to the extended 4,000 metre programme referred to in the previous section, the Company contracted Spectral Geophysics from Botswana to conduct an Induced Polarisation Geophysical Survey to cover the 3km by 2km (> 100ppb) soil anomaly over the Giro Prospect to define the orientation of zones of mineralisation due to the close association of mineralisation, sulphide (pyrite) and enhanced silica alteration. The IP survey identified a large chargeable anomaly which extends for
3km over the Giro Prospect. The anomaly is orientated in a NNW direction and coincides with best drilling results reported to date. These included 97m at 2.56g/t Au from surface in GRRC058, 47m at
4.13g/t Au from 25m including 15m @ 5.17g/t Au from 25m and 7m @ 12.99g/t Au from 46m in
GRRC075, 16m at 3.95g/t Au from 15m and 35m at 2.28g/t Au from 81m in R02 and 33m at 1.59g/t Au from surface including 19m @ 2.28g/t Au from surface and 56m at 2.39g/t Au from 64m including 54m @ 2.45g/t Au from 66m in GRRC068 as shown in Figure 2.
Chargeability results from the IP survey has confirmed the true orientation of the main zone of mineralisation which trends in a NNW orientation. The IP further indicates that the zone of mineralisation is more extensive than tested by drilling to date.
Several narrow NW striking chargeability anomalies identified appear related to high grade quartz veins within the Giro Structures and these may be more extensive than previously interpreted. The Giro type veins have been the main focus of historic and recent mining and can contain erratic but very high grade gold mineralisation.

3 | P a g e

Figure 2: IP anomaly map showing significant mineralized intercepts from drilling

Note: The main figure reflects processed data available to date (3km x 2km) while the insert shows the field generated map from raw data over the full extent of the 4km x 2km survey.

The Company has also contracted a Diamond drill rig to obtain structural information, which is expected on site in August 2015. The Diamond rig will also test potential mineralisation under historic Belgian workings at Mangote and Kai-Kai to the north where Belgians mined high grade quartz veins from an open pit and a series of adits.
Soil sampling programmes are ongoing and will cover the 30km northwest trending structural corridor interpreted from regional geophysics initially. Results have been received over most of the corridor to

4 | P a g e

the south of Giro where a significant gold in soil anomaly, shown in Figure 3, was confirmed at Peteku. The area which is underlain by granite will be followed up with infili soil sampling and detailed mapping and trenching prior to drilling. Historically the Belgians mined high grade quartz veins from the area.

Figure 3: Geology map showing soil anomalies and channel sample results at Giro and Peteku

Prospects and planned drill fences across the Kebigada soil anomaly on PE 5046

745000 746000 747000 748000 749000 750000 751000 752000

Channel Samples (2012)

Dti/1Unes

-Completed

-Planned

--- Soil Results (Au ppb)

100 - 200 ppb

-> 200 ppb

o Sampling Point

+ Not Sampled (Swampy Ground)

-- Kebìgada Shear Zone Limit

745000 749000 750000 751000 752000

5I Page

Figure 4: Geology map showing areas of potential mineralisation on PEs 5046 and 5049

750000

• Village

-* Roads

Belgian Workings

§ D Giro Ucence Boundarles

---Interpreted Faults

Geology

-Amphibolite

-Basatt

Granite

Volcano·Sedimentary Unit

(High K)

Volcano sedimentary Unit

!:! (High Th)

r West Nile Gneissic Cornplex

7750000

6 1 Page

BALATINDI PROJECT (Burey 75%, Government 15%, Vendor 10%)

The Balatindi Project is located in east Guinea within a broad tectono-magmatic belt that lies immediately south of the Siguiri basin which is highly prospective for gold. Two mineralised domains are observed at Balatindi: Gold/copper-dominated mineralisation within the Central Polymetallic Prospect (CPP) which lies immediately north of an interpreted east-west trending thrust fault, and uranium/copper-dominated mineralisation south of the thrust at Anomaly E.
No exploration activity was carried out during the quarter.

For more information contact:

Klaus Eckhof Peter Taylor
Chairman Investor Relations
Tel: +377 680 866 300 Tel: +61 (0)412 036 231 [email protected] [email protected]
Or visit www.bureygold.com

Competent Person's Statements - Exploration Results

The information in this report that relates to exploration results is based on, and fairly represents information and supporting documentation prepared by Mr Klaus Eckhof, a Competent Person who is a member of The Australasian Institute of Mining and Metallurgy. Mr Eckhof is a director of Burey Gold Limited. Mr Eckhof has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012

Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves". Mr Eckhof consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to the Giro Gold Project has been previously reported by the Company in compliance with JORC 2012 in various market releases, with the last one being dated 9 June 2015 (in addition to the release dated 22 May 2014). The Company confirms that it is not aware of any new information or data that materially affects the information included in those earlier market announcements, other than the results that are the subject of this report.

7 | P a g e

Mineral Interests held at 30 June 2015 are as follows:-

Notes:

1. If a decision is made to start mining operations, the relevant parties must enter into a new agreement, a mining title will be required and a new Guinean company must be formed. The Government of Guinea must be allocated 15% of the shares of the new company, such interest to be free carried.

2. Burey has an option to acquire an initial 90% interest in the named property and is responsible for sole funding exploration on the property after exercise of the option. Burey has the right to acquire a further 5% by payment of US$500,000 and the remaining 5% by granting a 1% net smelter royalty. The Government of Guinea's statutory 15% free-carried beneficial interest on commencement of production would be adjusted against Burey's interest. As reported previously, Burey has exercised its right to acquire a 90% interest, completion of which is pending the preparation of legal documentation.

Changes in the Quarter to tenement interests / farm-in and joint venture agreements:

There were no changes during the quarter.

8 | P a g e