Turaco Gold Limited has reported strong progress at its Afema Project in southern Côte d’Ivoire during the March 2025 quarter. The company maintained an aggressive drilling campaign with three rigs on double shift, completing over 22,000 metres of drilling that included reverse circulation, diamond, and auger techniques. Initial results from the maiden drilling program at the Baffia prospect recorded notable intersections such as 32 metres at approximately 1.7 grams per tonne gold and 21 metres at 1.8 grams per tonne. Drilling at Asupiri has validated historical data, confirming a continuous gold mineralisation over an extensive 5‑kilometre strike with shallow drilling depths. Additional shallow drilling at Begnopan also returned highly encouraging results, pointing to significant future resource growth, although these results will be incorporated in later estimates. The announcement also detailed encouraging metallurgical test work outcomes, with average overall leach gold extractions ranging from 84% to 95% at key deposits like Woulo Woulo, Jonction, Anuiri, and Asupiri. These improved extraction rates, achieved through optimized ultra‑fine grinding and leaching processes, are expected to reduce capital and operating costs while strengthening the upcoming Mineral Resource Estimate (MRE) update, which should include the existing 2.52 million ounce resource and a maiden estimate for the Asupiri deposit. On the corporate front, Turaco Gold Limited has strengthened its board with the appointment of Ian Kerr, an industry veteran with extensive African mining project expertise, while bidding farewell to long‑serving director Alan Campbell. The company also enhanced its interest in the Afema Project to 80% by issuing 36.3 million shares to its minority partner, and it has finalised its acquisition arrangements with Endeavour Mining through a deferred payment of roughly A$1 million. With cash reserves of around A$26.4 million and additional proceeds from the disposal of non‑core assets, the company remains well‑capitalised as it continues to focus on advancing its exploration pipeline. Market sentiment from these developments is mixed. On the bullish side, the strong drilling results, high metallurgical recovery rates, and expanding exploration targets are positive indicators for increased resource potential. The company's commitment to infrastructure development in local communities, such as investing approximately A$750,000 in a new access road and bridge project, also provides added social and operational benefits. However, a cautious note remains regarding the ongoing need for further drilling and the imminent MRE update, with market participants watching closely for confirmation of long‑term resource growth and the impact of continued capital expenditures.