29 April 2016

BUREY GOLD LIMITED

Level 2, Suite 9

389 Oxford Street Mt Hawthorn WA 6016

Australia

P. +61 8 9381 2299

F. +61 8 9380 6761

A.B.N. 14 113 517 203

MARCH 2016 QUARTERLY ACTIVITY REPORT

Burey Gold Limited (ASX: BYR) reports its activities and corporate developments for the quarter ended 31 March 2016.

HIGHLIGHTS

• Drilling completed at Kebigada Shear Zone, Giro Vein, Peteku, Adoku and Mangote targets with all results reported.

• Drilling at Kebigada Shear Zone confirmed significant mineralisation from surface down to depths exceeding 150m vertical depth below surface, with first results including:

  • 23.5m at 3.07g/t Au from 0.5m, including 13.6m at 4.73g/t Au from 4.4m

  • 18.4m at 2.02g/t Au from 59.1m

  • 38.1m at 2.53g/t Au from 191m including 30.6m at 3.00g/t Au from 198.5m

• Results from two additional holes on Kebigada Shear Zone confirmed second zone of significant mineralisation. Results included:

  • 21.0m at 6.06g/t Au from 0m including 7.0m at 12.44g/t Au from 0m

  • 69.6m at 1.67g/t Au including 39m at 2.3g/t Au from 94.9m

• Results from last outstanding hole drilled at Kebigada Shear Zone and two holes at Giro Vein Prospects. Results included:

  • 36.71m at 1.40g/t Au from 226.39m (Kebigada)

  • 0.7m at 37.50g/t Au from 103.5m (Giro Vein)

• Significant mineralisation confirmed over a strike length of at least 1,500m and to depths exceeding 200m, open at depth and in all directions at Kebigada

• Mineralisation confirmed under Belgian workings at Mangote. Best result included:

  • 8.91m at 3.09g/t Au from 78.05m

• Three main groups of gold in soil anomalism and mine workings now defined at the Giro Gold Project: southerly Adoku zone, Giro-Peteku zone and northerly Douze Match-Mangote zone. Each group covers approximately 40 square kilometres

• High priority new anomaly at Douze Match extends over 4km x 2.5km, Burey investigating

• Infill soil sampling completed at Mangote, 1km soil anomaly defined

Corporate

• Private placement of securities during the March 2016 Quarter raised $1.37 million to fund further exploration of Giro Project.

• Post quarter-end (18 April 2016), Burey announced a private placement of $3.35 million by issue of 119.48M shares. This placement is now expected to settle in early May 2016.

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

Giro Prospect

The Giro Gold Project comprises two exploitation 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, lying within 30km of Giro. Kibali produced 642, 720 ounces of gold in 2015 and is targeting production of 610,000 ounces for 2016.

Planned diamond drilling programmes were completed at Kebigada (1,221m), Giro vein (310m), Peteku (100m), Adoku (579m) and Mangote (633m) and all results have been reported. Final results were announced on 26 April 2016. Burey management considers the programme to be highly successful in confirming mineralisation at depth at Kebigada where all holes intersected mineralisation which was confirmed down to a vertical depth of 250m. A first pass phase of drilling at Mangote further highlighted the potential for the area.

Gold mineralisation related to the Kebigada Shear Zone is associated with a >200ppb gold-in-soil anomaly which covers 2,000m x 900m. This mineralisation is interpreted to have two distinct orientations, namely a strong NNW orientation as shown in the IP gradient array survey (IP results announced in July 2015) and a W-E to EWE orientation interpreted from measurements of pyrite and chalcopyrite laminae in the core and associated gold grade. All high-grade intersections are associated with the W-E structural orientation. Most of the holes drilled to date were drilled towards the NE as shown in Figure 1, oblique to the high grade W-E orientation, and on relatively broadly spaced 200 to 300m spaced drill sections which may have missed multiple additional zones of high grade mineralisation. Infill RC drilling is being planned to tighten the drill spacing to shallow depths in order to ascertain the true average grade of the 1,500m long Kebigada Shear Zone and to better define the extents of individual high grade lodes which can be tested at greater depths with further diamond drilling.

After completing a number of diamond drill holes at the Kebigada Shear Zone at its Giro Gold Project in the Kilo-Moto Belt of NE Democratic Republic of Congo, Burey reported the first results from these holes in February 2016. The drilling confirmed significant mineralisation from surface down to 150m below surface as shown in section in Figure 2.

Results included:

• GRDD001 23.5m at 3.07g/t Au from 0.5m, including 13.6m at 4.73g/t Au from 4.4m

• GRDD001 18.4m at 2.02g/t Au from 59.1m

• GRDD002 38.1m at 2.53g/t Au from 191m including 30.6m at 3.00g/t Au from 198.5m

  Results for two additional diamond holes from the Kebigada Shear Zone were received in early March 2016, confirming a second zone of significant mineralisation on Line 1 (see Figure 2).

  Significant results included:

• GRDD004 21.0m at 6.06g/t Au from 0m including 7.0m at 12.44g/t Au from 0m and

  10.0m at 3.55g/t Au from 11m; and

  69.6m at 1.67g/t Au including 39m at 2.3g/t Au from 94.9m

• GRDD003 8.89m at 2.0g/t Au from 111.5m including 4.32m at 3.87g/t Au from 115m

GRDD004 was drilled on Line 1 to the east of GRDD001 and results confirmed mineralisation over 147m.

Figure 1: Drill hole location map showing extent of the soil anomalies, extent of mineralisation, better results at Kebigada and Giro Vein Prospects and Belgian workings

The last outstanding hole, GRDD005, was announced on 26 April 2016, is the deepest hole drilled to date on the project and is mineralised nearly to the bottom, reporting grades similar to the RC holes at surface down to depths exceeding 250 vertical metres. The entire hole reported anomalous mineralisation illustrating the potential at depth for economic grade mineralisation, where intersections above 0.5g/t Au included a best intercept of 68.79m at 1.08g/t Au from 218.8m including 36.71m at 1.40g/t Au from 226.39m. The 30m at 2.9g/t Au intersection in GRRC068 is likely associated with a WE structure not intersected in GRDD005 due to the oblique orientation of drilling. Both GRDD005 and GRDD003 which reported low grade anomalous mineralisation shown in section in Figure 3 clearly show that gold mineralisation is open to the north and at depth at the Kebigada target.

Figure 2. Section along Line 1, showing RC drilling and diamond drill coverage and results

Figure 3. Section along Line 5, showing RC drilling and diamond drill coverage and results