* M&I resources are inclusive of mineral resources

The Essakane Gold Mine, located in northeastern Burkina Faso, is 85% owned by IAMGOLD with the remaining 15% held by the Government of Burkina Faso. Essakane is the 6th largest gold mine in West Africa, averaging annual production of approximately 400,000 ounces of gold per year over the last 10 years. A mature gold mine, IAMGOLD acquired the project in 2009 through its purchase of Orezone Resources and began commercial production in July 2010. A major plant expansion was completed in 2013 to accommodate increased hard rock processing.

Beyond production, Essakane is recognized for its strong commitment to environmental, social, and governance (ESG) principles. The mine plays an active role in local development through investments in agriculture, education, and health, and has supported thousands of community members through sustainable livelihood programs.

Operations

Key Operating Statistics (100% basis, unless otherwise stated)	2024
Ore mined (000s t)	9,714
Grade mined (g/t)	1.44
Operating waste mined (000s t)	13,315
Capital waste mined (000s t)	23,895
Material mined (000s t) - total	46,924
Strip ratio	3.8
Ore milled (000s t)	12,087
Head grade (g/t)	1.33
Recovery (%)	88
Gold production (000s oz) - 100%	454
Gold production (000s oz) - atrributable	409
Gold sales (000s oz) - 100%	454
Average realized gold price ($/oz)	2,383
Cash costs ($/oz sold)	1,179
AISC ($/oz sold)	1,625

Reserves and Resources

Location

Essakane is located in Burkina Faso at the boundary of the Oudalan and Seno provinces in the Sahel region and is approximately 330 kilometres northeast of the capital, Ouagadougou. It is situated approximately 63 kilometres northwest of the nearest large town, Dori, and near the village of Falagountou to the east. Access to site from Ouagadougou is via the airstrip on site, or via a 263 km paved road to Dori followed by an approximately 63 km laterite road to Essakane. The Essakane deposit is located within a 100.2 km² mining permit and exploration concessions totaling approximately 650 km²

Geology & Mineralization

The deposit types within the Project area are considered to be examples of greenstone-hosted orogenic gold deposits. The geological setting of northeast Burkina Faso consists predominantly of Precambrian rocks of the Oudalan-Gourouol greenstone belt that forms part of the Paleoproterozoic Baoulé-Mossi domain of the West African Craton and hosts numerous gold deposits and prospects including Essakane and Gossey. The Essakane region lies within a geologically complex area made up of ancient sedimentary rocks. These rocks are divided into two main types: deep-water turbidites (Birimian) and coarser basin-edge rocks (Tarkwaian). Gold is mainly found in quartz and quartz–carbonate veins within folded and faulted rock layers.

Gold mineralization is associated thrust faults or shear zones with brecciated, banded, sheared quartz veins and boudins within highly silicified zones. Mineralized bodies form as subvertical, or slightly inclined to the east, and consist of lenses, quartz stockwork and/or quartz–carbonate veins. The preferred emplacement is on the fold hinge or the limbs (EMZ, Tassiri, Gourara) or along shear corridors (Gossey, Korizena, Sokadie).

History

IAMGOLD commenced management of the Essakane project following the acquisition of Orezone Resources in February 2009. Essakane began commercial production in July 2010. Since acquiring its interest, the Company has carried out mapping, geophysical surveys, drilling (AC, RAB, RC, core), mining studies, resource and reserve estimates, and open pit mining. Plant expansions to accommodate an increase of hard rock was completed in 2014 and 2019.