Iliya Garkov


For: Drillex International Ltd.
Subject: Reference for drilling services provided to Dundee Precious Metals Krumovgrad EAD

This document is provided as a reference for “Drillex International Ltd.” in regard to drilling services
carried out for “Dundee Precious Metals Krumovgrad” EAD in Bulgaria during 2014-2017.

During the last three years, Drillex International Ltd. completed 32 exploration drill holes totaling 9768.8 m.
Maximum single hole depth was 620.6 m. Th holes were located in three different projects, drilling various
lithology types – from soft and consolidated sediments, through volcaniccs and into different types of metamorphic
basement. All drill holes except one were dipping between -65 and -45.

These volumes were completed during 10 drilling campaigns. The drilling was continuous, with only a few shifts
interrupted during the Christmas holidays and New year’s eve periods. The average production rate was 35.8 per 24 hrs,
maintained with 99% core recovery. PQ size was usually drilled to a depth between 200m and 260m and then followed
by HQ. All the holes were oriented with Reflex electronic orientation tool and traced by Reflex downhole survey camera.

Overall, Drillex International Ltd. performed as expected and to a high standard., We can recommend their services as
professional drilling company to other exploration and mining groups.

If any other questions are needed, please feel free to contact Yaroslav Dintchev, Exploration Manager
(E:; M: +359 888 233 633; A: 26 Bacho Kiro st., 3rd fl., 1000 Sofia, Bulgaria).

Dundee Precious Metals Krumovgrad


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