PROACTIVE PRESENTATION ROBERT MONRO Head of Business Development - PowerPoint PPT Presentation

PROACTIVE PRESENTATION ROBERT MONRO Head of Business Development September 2018

OUR HISTORY Hummingbird is an emerging +100,000oz gold producer having successfully built, commissioned and completed ramp up on its high grade Yanfolila Gold Project in Mali.

A COMPELLING INVESTMENT IN THE GOLD SECTOR HUMMINGBIRD RESOURCES Hummingbird is an emerging + 100,000oz gold producer having successfully built, commissioned and completed ramp up on its high grade Yanfolila Gold Project in Mali YANFOLILA 6.4M OZ Project built on time & on 6.4Moz gold inventory in budget West Africa 105-115K OZ ~4,000km 2 105-115koz 2018 guidance of exploration ground in Mali and Liberia HIGH GRADE AIM LISTED High grade, low cost Current SP 27p* operator Market Cap £93.9m* *as at 19 Sep 2018 3

STRATEGIC FRAMEWORK TO DELIVER VALUE & GROWTH HIGH MARGIN GOLD COMPANY FOCUSED ON SHAREHOLDER VALUE M&A opportunities will be considered to fast track growth GROW VALUE PRODUCE EXPLORE DEVELOP Cash flow 105-115Koz 2018 Disciplined investment Proven on time and on generation guidance in brownfield and budget developers greenfield targets Capital allocation High margin discipline production Conversion of Balance sheet Resources to Reserves strength 4

PROGRESSION TO FULL SCALE PRODUCTION COMMERCIAL PRODUCTION COMMENCED 1 APRIL 2018 GOLD POURED (OUNCES) GOLD SALES (OUNCES) Q1: 18,785 Q2: 33,101 Q1: 11,941 Q2: 38,726 ORE PROCESSED (TONNES) AISC (US$ / OUNCE) Q1: 238,628 Q2: 287,605 Q1: (RAMP UP) Q2: 790 AVG. GRADE MILL FEED (G/T) AVG. GOLD PRICE (US$ / OUNCE) Q1: 2.96 Q2: 3.43 Q1: 1,332 Q2: 1,307 500,000 25% WOMEN 95% LOCAL LTI-FREE HOURS PLANT OPERATORS WORKFORCE achieved Q2 2018 5

KOMANA EAST & WEST RESERVES & RESOURCES PRINCIPAL PITS IN THE CURRENT MINE PLAN CURRENT GOLD INVENTORY Category Tonnes (t) Grade (g/t) Gold (oz) Probable Reserves 7,039,000 3.14 709,800 Total Inventory * 28,495,000 2.40 2,202,700 *Including non-JORC compliant figures KOMANA WEST PIT KOMANA EAST PIT Resources: 506koz @ 2.44g/t Resources: 809koz @ 3.03g/t Reserves: 239Koz @ 3.06g/t Reserves: 471Koz @ 3.18g/t 6

YANFOLILA MINE LIFE UPSIDE US$8M+ BUDGET (LIMITED TO 15% FCF) TARGETING LOM EXTENSIONS IN THE NEAR-TERM EXCELLENT 1.5Moz of Indicated and Inferred Resources RECENT DRILL outside the current mine plan. Historical RESULTS: Resource to Reserves conversion rate of 55% Guirin West 2018 Exploration Programme targeting Komana West: +50,000m drilling at 6 deposits to convert 11.45m @ 8.6g/t additional 400,000oz to Reserves 25.75m @ 2.95g/t 1. Gonka: High grade Inferred deposit situated 5km Guirin West: from the plant 16m @ 3.11g/t 4m @ 8.12g/t 2. Komana East & West: Underground (‘UG’) potential not currently in Reserves 3. Guirin West: Situated 2km from the plant with high For full results see RNS grade oxide Resources dated 19 Sep 2018 4. Sanioumale East & West: Currently only oxide ore in the mine plan 7

INTRODUCTION OF SECONDARY BALL MILL INCREASING PLANT THROUGHPUT TO FACILITATE ANTICIPATED RESERVE GROWTH • Increase in the plant throughput to 1.4Mtpa from 1.24Mtpa based on a blend of ore types • When operating at 100% fresh ore the throughput capacity will increase from 1Mtpa to 1.24Mtpa • Second mill should be operational in Q3 2019 and have a capex of circa. US$13m • The preferential choice when considering the alternative option of installing a tertiary crusher, per the DFS • SENET awarded EPCM contract to deliver the mill 8

YANFOLILA: PIT TO COIN HUMMINGBIRD RESOURCES 9

CORA GOLD INVESTMENT HUMMINGBIRD HAS A 34% STAKE IN CORA GOLD (AIM: CORA) SANANKORO GOLD DISCOVERY potential for a 1Moz+ standalone mine development STAGE 1 DRILLING complete at Sanankoro gold discovery with exciting new targets identified and extremely encouraging high- grade gold intercepts RECENT DRILLING at Tekeledougou has Sanankoro: Tekeledougou: US$10M produced two new gold zones with shallow, broad, high- 17m @ 5.43g/t 56m @ 2.2g/t Historical expenditure by grade gold intercepts, 8km Gold Fields 11m @ 5.24g/t 17m @ 6.8g/t from Yanfolila processing plant 60m @ 0.7g/t 10

DUGBE GOLD PROJECT: LIBERIA OPTIONALITY AND SCALE TO DRIVE PORTFOLIO GROWTH 29% US$186M I RR NPV @ US$1,300 Au PEA 2013 4.2M OZ AU 70 km by road attractive economics Liberia’s largest gold from Greenville deep at current gold prices deposit water port 125,000 OZ AU 20 YEAR Anticipated ounces Life of Mine per annum 11

PEER COMPARISON UNDERVALUED AGAINST PEERS Largest Shareholders Broker Coverage 9% A L I G N R E S E A R C H 8% 7% C A N A C C O R D 6% 5% C E N K O S 4% 3% M I R A B A U D 2% 1% W H I R E L A N D 0% Capital Gold Fields Odey Majedie Sustainable Management Sloane Robinson Capital EV/Production ‘18E EV/Resources $300 $5,000 $4,500 $250 $4,000 $3,500 $200 $3,000 $2,500 $150 $2,000 $1,500 $100 $1,000 $500 $50 $- $- Source: Thomson Reuters and Canaccord Genuity Limited Note: prices as at 30 August 2018 12

RESPONSIBLE MINING BUILDING A LASTING LEGACY MAKING A LASTING & SUSTAINABLE CONTRIBUTION TO THE SOCIAL, ENVIRONMENTAL AND ECONOMIC WELLBEING OF LOCAL COMMUNITIES IN MALI Fund salaries of 20 local teachers • Established market gardens to create alternative livelihoods • and generate an income for local women, with ability to employ 50+ people per garden Established a soap-making enterprise to benefit 10 local • communities and 300 women Invested in initiatives to provide clean drinking water across • villages local to Yanfolila Run on-going training programmes between UK-qualified • doctors and local nurses on essential medical techniques, such as new-born resuscitation Built a brand new health centre in local village of Bougoudale, • to benefit population of approx. 6K Established poultry projects across 4 villages, to contribute to • youth employment and socio-economic development 13

SUMMARY PRODUCTION EXPANSION AT EXPLORATION & CORPORATE GROWTH YANFOLILA DEVELOPMENT • 2018 GUIDANCE OF 105- • US$70 MILLION FREE CASH 115KOZ FLOW IN FIRST FULL YEAR • EXPANSION FROM • WIDER YANFOLILA OF PRODUCTION @ GONKA DEPOSIT ASSESSMENT AND • HIGH GRADE, LOW COST, US$1,250/OZ DEVELOPMENT CASH GENERATIVE • POTENTIAL TO INCREASE • STRONG INSTITUTIONAL PRODUCTION • CORA GOLD PORTFOLIO SHAREHOLDER BASE • SIGNIFICANT LIFE OF MINE • 4.2MOZ DUGBE GOLD INCLUDING CAPITAL, EXTENSION POTENTIAL PROJECT LIBERIA ODEY, M&G AND MAJEDIE • M&A GROWTH OPPORTUNITIES 14

+44 (0)20 7409 6660 Hummingbird Resources Plc @HUM_gold enquiries@hummingbirdresources.co.uk hum_gold Hummingbird Resources Plc 15