DeSoto Resources Unveils Major Gold Discovery in Guinea

Promising Auger Results Reveal 7+ g/t Gold in Shallow Drilling at Siguiri Basin

DeSoto Resources (ASX:DES) has announced encouraging results from its shallow power auger drilling program at the Dadjan Gold Project in Guinea's Siguiri Basin, with assays revealing significant high-grade gold intercepts that confirm the project's potential.

The 356-hole program totaling 4,206 meters has successfully identified a 3,700-meter strike of gold anomalism along a northeast-trending structure at Dadjan's Main Zone and Grand Plateau prospects.

Standout Gold Results Highlight Discovery Potential

The shallow drilling program delivered several impressive gold intercepts, including:

• 4m @ 7.08 g/t Au from just 2m depth (DJAU0305)
• 2m @ 7.12 g/t Au from 14m (DJAU0304)
• 2m @ 4.88 g/t Au from 2m (DJAU0307)
• 8m @ 0.32 g/t Au from 6m (DJAU0323)
• 13m @ 0.13 g/t Au from surface (DJAU0136)

These results are particularly significant given the shallow nature of the drilling, with an average hole depth of just 11.8 meters, suggesting the company may have found near-surface gold mineralisation with potential for expansion at depth. Similar to recent high-grade gold hits at Fortitude North, these findings demonstrate the continued potential of well-positioned gold exploration projects.

"Encouraging first-pass results from Dadjan have provided confidence that our work in the central-south Siguiri can deliver a world-class gold deposit. Further assays are pending from Dadjan with the Company working towards its immediate exploration goal of generating a stream of AC/RC drilling targets, providing the best opportunity to find the next +2Moz West African gold discovery," said Managing Director Chris Swallow.

Strategic Position in Guinea's Gold-Rich Siguiri Basin

DeSoto Resources gold discovery in Guinea is enhanced by its position as one of the largest landholders in the underexplored but highly prospective Siguiri Basin, holding a 1,234km² land package comprising 14 gold projects. The company is the fifth-largest tenure holder in the region by area.

This strategic landholding puts DeSoto in an excellent position to make additional discoveries across multiple projects, with ongoing exploration activities at Tole, Timbakouna, and several other permits.

Understanding Power Auger Drilling in Gold Exploration

Power auger drilling represents an efficient early-stage exploration technique used to sample weathered bedrock (saprolite) beneath surface soil and laterite. This method allows companies to rapidly test large areas at relatively low cost before committing to more expensive drilling programs.

The technique is particularly effective in West Africa, where deep weathering profiles often extend 50+ meters below surface. Gold anomalies detected in the saprolite through auger drilling frequently indicate mineralisation in the underlying fresh bedrock, making it an essential pathfinding tool.

DeSoto's 4,200-meter program has successfully identified multiple coherent gold anomalies that will guide more advanced drilling methods like Air Core and RC drilling, which can test deeper and provide more definitive results.

Extensive Exploration Pipeline Building

The DeSoto Resources gold discovery in Guinea extends beyond Dadjan, with several active exploration fronts:

• Two power auger rigs currently operating at the Tole project
• One rig completing infill drilling at Dadjan around zones of strong gold anomalism
• Ongoing dump and rock chip sampling programs across both projects
• Additional sampling completed at Timbakouna, where historic drilling returned 18m @ 11.8 g/t Au from 48m
• Early-stage targeting across the company's broader portfolio, with field reconnaissance and sampling programs being prepared for the Oromo, Falama and Dabidiana permits

A substantial number of assays remain pending, including 1,239 auger samples from Tole, 599 auger samples from Dadjan Main Zone, plus numerous rock chip and dump samples from multiple projects. In similar exploration projects, companies like Metal Bank have achieved resource increases through systematic drilling and sampling programs.

Government Relations Strengthen Company Position

DeSoto's management team recently engaged with key officials from Guinea's Ministry of Mines and Geology and the Centre for Mining Promotion and Development (CPDM), establishing strong relationships with government authorities.

The company expressed support for the Ministry's efforts to enforce existing mining laws and regulations, positioning DeSoto favorably as a compliant operator in the region. Management emphasized their commitment to "move fast, spend smart, and build trust locally" – three factors that align with Guinea's mining regulatory framework.

"Given its deep roots in Guinea, the Company was given a warm welcome. The Company has listened carefully to the strong message from Government officials that Guinea is open for business, but operators must abide by the relevant laws when holding exploration or exploitation permits," stated Managing Director Chris Swallow.

The Siguiri Basin Gold Setting

The DeSoto Resources gold discovery in Guinea is situated within the geologically favorable Siguiri Basin, part of the broader West African Craton. This region hosts numerous multi-million-ounce gold deposits and exhibits several key characteristics that make it highly prospective:

• Birimian Supergroup Rocks: The area contains meta-sediments (shale, greywacke, cherts) and mafic to intermediate volcanics, which are favorable host rocks for gold mineralisation.
• Major Structural Features: Multiple basin-wide fault/shear zones trending northwest and northeast provide the plumbing systems for gold-bearing fluids.
• Orogenic Gold Style: The gold deposits typically form in structural corridors, often in proximity to felsic intrusive bodies.
• Deep Weathering Profile: The region has undergone extensive weathering, creating thick laterite and saprolite zones that can host substantial gold mineralisation.

Despite its geological similarity to neighboring gold-rich regions in West Africa, the Siguiri Basin remains relatively underexplored, offering significant potential for new discoveries.

Strategic Approach to Target Generation

DeSoto is implementing a systematic minerals systems approach to exploration, developed by Chairman Paul Roberts and Non-Executive Director Dr. Barry Murphy. This methodology focuses on identifying prospective structural corridors within the Birimian gold belt, which hosts numerous multi-million-ounce gold deposits across West Africa.

This targeting process combines geological mapping, structural analysis, and geochemical sampling to identify the most promising areas for further drilling, maximizing the chances of making significant discoveries while minimizing exploration costs. Furthermore, this approach is similar to that used in recent geochemical sampling expansions at other promising resource projects.

Investment Perspective

For investors considering exposure to West African gold exploration, the DeSoto Resources gold discovery in Guinea offers several compelling attributes:

1. Strategic Land Position: Fifth-largest landholder in the Siguiri Basin, a proven gold province that remains underexplored compared to neighboring regions

2. Early Success: High-grade gold intercepts from shallow drilling at Dadjan suggest the potential for significant discoveries with further work

3. Exploration Pipeline: Multiple projects at various stages of development provide numerous opportunities for discovery and news flow

4. Experienced Leadership: The team's minerals systems approach to targeting increases the odds of discovering significant gold deposits

5. Government Relations: Strong engagement with Guinean authorities positions the company favorably in a jurisdiction that rewards compliant operators who move quickly

With extensive assay results pending and drilling continuing at multiple projects, DeSoto is well-positioned to generate a steady stream of news in the coming months as it works toward its goal of making a +2 million ounce gold discovery in one of West Africa's most promising yet underexplored gold belts. The potential here resembles other companies with revenue potential from stockpiles while developing longer-term resources.

Investors should watch for further results from the company's ongoing exploration programs, particularly from Timbakouna, where historic high-grade intersections suggest significant potential, and from the continuing work at Dadjan, where the recent results have confirmed the presence of gold mineralisation along a substantial strike length. Additionally, the mining sector's growing interest in clean energy technologies may further enhance the appeal of resource companies with strong ESG credentials.

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