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

ASX RELEASE

Burey Gold IP survey confirms larger Giro anomaly

A recently completed IP survey has successfully delineated a 3km long chargeability anomaly along Kebigada shear coincident with, as well as larger than the area of significant drill results at Giro Gold Project in the Kilo-Moto Gold Belt, DRC

Highlights

• IP (induced polarisation) survey carried out at Giro Prospect over 4km x 2 km area
• Aim was to better understand orientation and depth potential of mineralisation and to identify new drill targets
• Significant IP anomaly confirmed now coincides with NNW interpreted Kebigada shear over 3km strike extent
• Drill results over the portion of IP anomaly drilled to date included:
o GRRC058 97m at 2.56g/t Au from surface
o GRRC075 47m at 4.13g/t Au from 25m, incl. 15m @ 5.17g/t Au from

25m and 7m @ 12.99g/t Au from 46m

o R02 16m at 3.95g/t Au from 15m and 35m at 2.28g/t Au from

81m, incl. 13m @ 4.17g/t Au from 103m

o GRRC068 33m at 1.59g/t Au from surface incl 19m @ 2.28g/t Au
from surface and 56m at 2.39g/t Au from 64m incl.

54m @ 2.45g/t Au

• The IP survey was also successful in mapping NW structures ("Giro Structures") which host high grade veins the subject of most of the historic and current mining.
• The strongest results from IP mineralisation potentially at intersection of
Kebigada and Giro structures
• Diamond drilling will follow to test dip direction

Burey Gold Limited (ASX: BYR) has completed an IP survey over an area covering 4km x

2km at its Giro Gold Project in the Kilo-Moto Gold Belt as part of its exploration programme designed to better understand orientation and depth potential of mineralised loads and to identify new drill targets. Gradient array was used to map out chargeable bodies in the subsurface while 6 pole-dipole lines were completed to show continuity at depth. Diamond drilling will now follow once all data from the survey has been processed to confirm dip direction and structural controls on mineralisation (Figure 1).

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Spectral Geophysics from Botswana was engaged 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 1.
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.
Burey has also contracted a diamond drill rig which will now drill under the IP anomaly to confirm true width, depth continuity and true dip direction of the zone of mineralisation.

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Figure l: Significant drill results on Strong IP anomaly

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if ·········•····································M· .

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--- ----------·-······-----/---··i-······l·i

; ; Mineralisation

--Western Umit of

Kebigada Shear Zone

Drilling

• Panex Drill Holes

Results Pending

Results Received

; ; -Completed Drill Une

-Ongoing Drill Une

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;l;

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

2km survey.

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Project Background and Potential

The Giro Project comprising two exploitation permits covers 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 with shaft and decline development ahead of schedule confirming a favorable mining environment in the region. At Giro and Peteku, the focus of the exploration has been on drilling and geochemical sampling in areas mined historically during Belgian rule and in areas currently being mined by artisanal means. Initial work supports a broad zone of mineralization associated with a soil anomaly of roughly
2,000 metres by 900 metres at the Kebigada target. The Giro Prospect is cross-cut by numerous high grade ENE trending structures currently mined by artisanal miners. One such vein at Peteku reported 5m at 17.4g/t Au within granite.
A major northwest trending structural corridor is interpreted to transgress both tenements over at least 30km. The Giro deposits mined historically lie within this corridor while a number of extensive alluvial workings were identified to the north within the structural corridor. The Company will expedite soil sampling programmes for complete coverage of the corridor to identify additional zones of mineralization which potentially sourced gold in alluvial workings.
To the north the Belgians mined two deposits on PE 5049 up to the end of the colonial era in the 1960's. These were the Mangote open pit where historic drilling results included 0.6m at
37g/t Au and 0.35m at 485g/t Au. There is no record of methods used to obtain these results. Only quartz veins were sampled historically by the Belgians although subsequent sampling of wall rock adjacent to quartz veins currently mined by artisanal miners confirmed potential for a broader zone of mineralization surrounding high grade quartz veins. The area will be followed up with diamond drilling under the Belgian workings at Mangote and Kai-Kai once the initial diamond drilling programme has been completed at the Kebigada target.

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.

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