Nizi Gold Project
An exploitation licence (PE 5110) covering 113km² in the Kilo-Moto Goldfields of north-eastern Democratic Republic of Congo, located approximately 26.5km north-northeast of Bunia and hosting the historic King Leopold underground gold mine.
Project Overview
The Nizi Gold Project comprises exploitation licence PE 5110, covering approximately 113 square kilometres in the Ituri District of the Kilo-Moto Goldfields in north-eastern Democratic Republic of Congo. The project is located approximately 26.5 kilometres north-northeast of the regional centre of Bunia and 6.5 kilometres north of the village of Nizi.
DRC Gold Corp has been granted an option to acquire up to a 65% interest in the Nizi Gold Project, positioning the asset alongside the Company’s broader portfolio within the highly prospective Kilo-Moto Greenstone Belt.
Historical Mining – King Leopold Gold Mine
The Nizi licence hosts the historic King Leopold Gold Mine, an underground gold operation developed along a series of quartz vein systems. The mine was developed over a strike length of approximately 600 metres and to depths of between 160 and 180 metres.
Mining operations were conducted intermittently between 1913 and 1931. Historical reports indicate that only two of the seven known major quartz gold veins were exploited, suggesting significant remaining exploration potential within the broader vein system.
The deposit is hosted within a mafic to intermediate volcanic sequence situated along the faulted contact of a dioritic intrusive, a geological setting considered favourable for structurally controlled gold mineralisation.
Exploration Potential
Exploration activity across the licence area has been limited since mining ceased in 1931. Historical work by SOKIMO and later by Ashanti Goldfields included aerial geophysics, but modern systematic exploration has not been comprehensively applied across the project area.
In addition to the known quartz vein systems at King Leopold, several additional gold prospects have been identified within the licence area, including the Baluma Gold Oxide Prospect. The presence of multiple vein sets, limited historical extraction, and minimal modern exploration collectively indicate potential for both high-grade vein-hosted mineralisation and broader, lower-grade mineralised systems.
DRC Gold considers the Nizi Project prospective for the delineation of both high-grade and bulk-tonnage gold mineralisation within an established gold-producing district.
Geological Setting
The Nizi Gold Project lies within the Kilo-Moto Goldfields, a region that hosts several significant gold deposits and a long history of production. Mineralisation at Nizi is associated with quartz veins developed within volcanic rocks and along intrusive contacts, with structural controls playing a key role in gold distribution.
The combination of historical underground development, multiple unmined vein systems, and favourable regional geology supports the potential for resource expansion through modern exploration techniques.
Transaction Structure
Under the binding term sheet announced on 24 February 2026, DRC Gold has been granted an option to acquire an initial 55% interest in the Nizi Gold Project from Mabanga Mining SARL. The transaction is structured through staged share issuances, subject to shareholder and regulatory approvals.
Upon completion of the initial acquisition, DRC Gold will have the right to increase its interest by a further 10% through additional consideration, bringing its potential total interest in the Nizi Project to 65%.
The transaction remains subject to due diligence, execution of a formal option agreement, and satisfaction of customary closing conditions.
