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( KEFI or the Company ) Q1 2021 Operational Update KEFI (AIM: KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to provide its latest quarterly operational update. This update encompasses the activities of KEFI Minerals (Ethiopia) Ltd ( KME ) and Tulu Kapi Gold Mines Share Company ( TKGM ) in Ethiopia, and Gold & Minerals Ltd ( G&M ) in Saudi Arabia for the period from 1 January 2021 to 31 March 2021 ( Q1 ), together with more recent developments where appropriate. In Ethiopia   The Tulu Kapi Gold Project (the Project or Tulu Kapi ) remains on track overall, in line with previous guidance with the financial closing program having commenced and remaining in progress. Notably, the project finance consortium remains focused on:

Saudi arabiaCity ofUnited kingdomKingdom of saudi arabiaFederal democratic republic of ethiopiaJeff keatingFlorence chandlerTulu kapiAl godeyerOliver stansfieldTim metcalfeHarry anagnostaras adamsJonathan evansBrandon hill capital ltd joint brokerTulu kapi gold mines share companyWorld bank