Erin Resources Secures Option to Acquire Medical and Cosmetics Cannabis Business, MGC Global

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Company Overview

Erin holds 441km2 of exploration permits in Senegal and a portfolio of 5 strategically located permits. All the Company’s projects lie within the Kedougou inlier that extends over eastern Senegal and along the country’s western border with Mali. There are 4 multi-million ounce gold deposits that have recently been discovered within 25 kilometers of Erin’s projects and in Senegal: Loulo (12Moz), Masawa (3.5Moz), Petowal (1.4Moz) and Oromin (3.7Moz).

About 30M oz of gold has been discovered in Senegal over the last 10 years and the Kedougou inlier hosts over 45M oz of gold in resources. This inlier forms a part of the Birimian shield, which covers most of West Africa and hosts over 280M oz of gold.

Senegal only recently commenced industrial scale gold mining and production at Sabodala mine in 2009. The country’s mining code, introduced in 2003, is based on mining codes found in Australia and Canada.

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