EXECUTIVE SUMMARY

MINING GOLD CONCESSION

IUP PT. SUMBER ENERGI JAYA

 PT SUMBER ENERGI JAYA

PT Sumber Energi Jaya owned 3 Production Operations Mining License, among others:
1. Motoling - South Minahasa:
Karimbow Village, Tokin and Picuan, East Motoling Subdistrict, East Minahasa District,
North Sulawesi Province, Gold Commodities, Area: 822.3 Ha.

2. Touluaan - Minahasa Tenggara:

Kalait Village, South Touluaan Subdistrict, Minahasa Regency, North Sulawesi Province,
Gold Commodities, Area: 836.1 Ha.

3. Ratatotok - Southeast Minahasa:

Ratotok Satu Village, Ratatotok District, Southeast Minahasa Regency, North Sulawesi
Province, Gold Commodities, Area : 301.44 Ha.
 LICENSES OF PT SUMBER ENERGI JAYA - MOTOLING
Karimbow Village, Tokin and Picuan, District of East Motoling
South Minahasa Regency, North Sulawesi Province
Gold Commodities, Area: 822.3 Hectares.

The licenses which have been owned by PT Sumber Energi Jaya are as follows:

MINE PERMIT
1. Decision of Head of the Mining Dept., Energy and Environment Sector of South Minahasa
Regency N0. 71 / Distamben-LH / III / -2007 About Certificate of Observation License,
dated 28 March 2007

2. The Decree of Head of the Mining Dept., Energy and Environment Sector of South
Minahasa No. 01 / KP.02 / I-2007, regarding the Exploration Mining Authorization to PT.
Energy Energi Jaya at the location of Sakong and Snake Green, Kemelembuai and
Ranoyapo Subdistrict, Minahasa Selatan Regency, North Sulawesi Province with a total
area of 1.959 Ha, dated January 25, 2007.

3. Decree of Head of the Mining and Energy Dept. of the South Minahasa Regency
concerning the Extension of the Exploration Mining Authority No. 01 / KP.P-1 / Distamben-
MS / VIII / 08 dated August 28, 2008 with an area of 1,575 Ha.

4. South Minahasa Regent Decree No. 162 Year 2009 on Approval of Mining Exploration
Business License to PT. Sumber Energi Jaya at Karimbow, Tokin and Picuan, East
Motoling Subdistrict, South Minahasa Regency, North Sulawesi Province with a total area
of 1,575 Ha, dated August 28, 2009.

5. South Minahasa Regent Decree No. 87 Year 2010 Concerning Approval of Mining
Business License Exploration Become Mining Operation Permit Production Operation a.n.
PT. Sumber Energi Jaya at the above mentioned location with an area of 822.3 Ha dated
June 4, 2010.
ENVIRONMENTAL PERMIT
Decree of South Minahasa Regent No. 63 Year 2010 on the Environmental Feasibility Plans for
Gold Mining Activities in East Motoling District South Minahasa Regency North Sulawesi Province
by PT. Sumber Energi Jaya, dated April 1, 2010.

CERTIFICATE
Clear and Clean Certificate No: 74 / Min / 06/2012 on behalf of PT. Sumber Energi Jaya dated
June 7, 2012.

FORESTRY PERMIT
1. Letter of Approval of Principles of Use of Forest Areas to Operation Activities of Gold
Production and Its Supporting Facilities with Underground Mining Pattern in Permanent
Production Forest Area (HP) on behalf of PT. Sumber Energi Jaya, in South Minahasa
Districk, North Sulawesi Province covering ± 682.05 (six hundred eighty two and five
percent) hectares which issued by the Investment Coordinating Board, No. 44/1 / PP-PKH
/ PMDN / 2015 dated June 29, 2015.

2. Decision of the Head of the Capital Investment Coordinating Board Number 45/1 / IPPKH
/ PMDN / 2016 Concerning the permit to use Forest Area for mining operation of Gold
Production and it’s Supporting Facilities with Underground Mining Pattern on behalf of PT
Sumber Energi Jaya covering 674.46 Hectares At Production Forest Area Remain in
South Minahasa District, North Sulawesi Province Date June 21, 2016.
 LICENSE OF PT SOURCE ENERGY JAYA - TOULUAAN
Kalait Village, South Touluaan Sub-district
Kabupaten Minahasa Tenggara, North Sulawesi Province
Commodities Gold, Luas Area: 836.1 Hectares

The licenses which have been owned by PT Sumber Energi Jaya are as follows:

MINE PERMIT
1. Decision of Head of the Mining Dept., Energy and Environment Sector of South Minahasa
Regency No. 71 / Distamben-LH / III / -2007 About Certificate of License of Observation
Date 28 March 2007

2. The Decree of Head of the Mining Dept., Energy and Environment Sector of South
Minahasa Regency No. 01 / KP.2 / I-2007 About Provision of Exploration Mining Authority
dated January 25, 2007 (Area 1,959 Hectares)

3. Decision of the Head of Mining Dept., Energy and Mineral Resources of Southeast
Minahasa Regency No. 04 / KP.1 / IX / 2008 About Provision of Exploration Mining
Authority dated September 3, 2008 (Area 1,923 Hectares)

4. Southeast Minahasa Regent's No. 26 Year 2010 About Approval of Mining Exploration
License to PT Sumber Energi Jaya Date 30 April 2010 (Area 1,923 Hectares)

5. Southeast Minahasa Regent's Decree no. 39 of 2010 concerning Approval of Mining

Exploration License into Mining Operation License of Production Operation to PT Sumber
Energi Jaya dated 30 July 2010 with an area of 842.5 Ha.

6. Southeast Minahasa Regent's Decree with no. 130 Year 2011 concerning Approval of
Mining Production Operation License to PT Sumber Energi Jaya as a revised of Mining
Production Operation License to PT Sumber Energi Jaya Number 39 Year 2010 dated
October 10, 2011.
ENVIRONMENTAL PERMIT
Decree of Southeast Minahasa Regent No. 35a Year 2010 on the Environmental Feasibility Plan
for Gold Mining Activities in Kalait Village, Touluaan District, Southeast Minahasa Province, North
Sulawesi Province by PT. Sumber Energi Jaya dated June 7, 2010.

CERTIFICATE
Clear and Clean Certificate Number: 75 / Min / 06/2012 on behalf of PT. Sumber Energi Jaya
dated June 7, 2012.

PERMIT FORESTRY
1. Letter of Approval of Principles of Use of Forest Areas for Operation Activities of Gold
Production and Supporting Facilities on behalf of PT. Sumber Energi Jaya in Permanent
Production Forest Area, in Southeast Minahasa Regency, North Sulawesi Province
covering ± 490 (four hundred and ninety) hectares from the Capital Investment
Coordinating Board, Number 13/1 / PP-PKH / PMDN / 2015 dated March 20, 2015.

2. Decision of the Head of the Capital Investment Coordinating Board Number 46/1 / IPPKH
/ PMDN / 2016 Concerning the License to Use Forest Lands for Operation Activities of
Gold Production and Supporting Facilities on behalf of PT Sumber Energi Jaya of 486.25
Hectares at Permanent Production Forest in Southeast Minahasa Regency, North
Sulawesi Province Date June 21, 2016.
 LICENSE OF PT SOURCE ENERGY JAYA - RATATOTOK
Ratotok Satu Village, Ratatotok District, Southeast Minahasa Regency
North Sulawesi Province
Gold Commodities, Area Area: 301.44Hectares

The licenses which have been owned by PT. Sumber Energi Jaya are as follows:

MINE LIMITED
1. Decision of Head of the Mining Dept., Energy and Environment Sector of South Minahasa
Regency Number 02 / KP.1 / 3/07 About Provision of Exploration Mining Authority Date
30 March 2007 (Area 693 Hectares)

2. The Decree of Head of the Mining Dept., Energy and Environment Sector of Southeast
Minahasa No. 08 / KP.1 / XII / 2008 Concerning First Renewal of Mining Exploration
Authority dated December 22, 2008 (Area 693 Hectares)

3. South Minahasa Regent Decree No. 41 of 2011 on Approval of Exploration Mining License
(IUP) to PT Sumber Energi Jaya Dated 4 March 2011

4. Decision of Southeast Minahasa Regent Number 128 Year 2011 About Approval of Mining
Exploration License to Mining Production Operation Licenses To PT Sumber Energi Jaya
Dated 26 September 2011

5. Decision of Southeast Minahasa Regent Number 221 Year 2014 about First revised of
Production Operation Area of IUP OP License PT Sumber Energi Jaya in District of
Ratatotok Date December 1, 2014.

CERTIFICATE
Clear and Clean Certificate Number: 540/541/DESDM on behalf of PT. Sumber Energi Jaya dated
June 7, 2012.

ENVIRONMENTAL PERMIT
Environmental Feasibility of PT Sumber Energi Jaya's Gold Mining Activities Plan in Ratatotok
District, Southeast Minahasa Regency, North Sulawesi Province No 126 of 2011 September 23,
2011.
 IUP PT SUMBER ENERGI JAYA – MOTOLING

IUP PT Sumber Energi Jaya - Motoling, South Minahasa, has several prospect areas, namely:

1. Sakong 1
2. Sakong 2
3. Sakong 3
4. Sakong 4
5. Paulingan
6. Kapitu
 SAKONG 1

* Calculations up to RL 70
Estimated Reserves Block Sakong 1 (cutoff grade 0.5 ppm)

Total Volume : 264,321 m3

Total Tonnage : 607,938.3 Ton
Total Reserves : 3,193,003.71 gram
Avg. Grade : 5.25 gr/ton

SAKONG 2, 3, 4

Under Exploration Process

 Estimated Reserves
PIT SAKONG 1
Cut Off Grade 0.5 pm

BJ: 2.3 gr/cm3

 ORE RESERVE ESTIMATION PAULINGAN AND KAPITU VEIN (NEWMONT) RANOYAPO
DISTRICT

Paulingan Vein I

Average grade : 5.40 g/t Au

Average thickness : 2.06 m
Volume : 109,450 x 2.06 = 225,467 m3
Tonnage : 225,467 x 2.3 = 518,574 ton
Ore : 518,574 x 5.40 x 0.03 = 84,009 oz AU

Kapitu Vein

Average grade : 1.96 g/t Au

Average thickness : 4.38 m
Volume : 97,737.5 x 4.38 = 428,090.25 m3
Tonnage : 428,090.25 x 2.3 = 984,607.58 ton
Ore : 984,607.58 x 1.96 x 0.03 = 57,895 oz AU

Total Ore Pauling Vein I and Kapitu Vein

= 84,009 + 57,895
= 141,904 oz Au
Pauling Vein I : 109450 m2
1.50 m @ 3.34 g/t Au
1.00 m @ 24.35 g/t Au
2.00 m @ 5.94 g/t Au
5.00 m @ 10.8 g/t Au
3.00 m @ 8.17 g/t Au
1.80 m @ 7.65 g/t Au
0.50 m @ 4.09 g/t Au
6.00 m @ 5.24 g/t Au
3.35 m @ 0.23 g/t Au
6.00 m @ 0.40 g/t Au
0.45 m @ 0.38 g/t Au
0.60 m @ 4.40 g/t Au
Average grade
Average thickness : 2.06 m
Volume
Tonnage
Ore
`
0.10 m @ 37.7 g/t Au
0.35 m @ 0.99 g/t Au
6.00 m @ 8.80 g/t Au
0.50 m @ 2.86 g/t Au
0.50 m @ 13.55 g/t Au
0.45 m @ 47.94 g/t Au
1.60 m @ 2.23 g/t Au
3.00 m @ 0.52 g/t Au
1.33 m @ 3.26 g/t Au
1.00 m @ 3.08 g/t Au
1.30 m @ 1.02 g/t Au
: 5..40 g/t Au
: 109,450 x 2.06 = 225,467 m3
: 225,467 x 2.3 = 518,574 ton
: 518,574 x 5.40 x 0.03 = 84,009 oz AU
 Kapitu Vein: 97737.5 m2

1.00 m @ 2.31 g/t Au

4.00 m @ 0.67 g/t Au
5.00 m @ 2.44 g/t Au
2.20 m @ 1.00 g/t Au
2.00 m @ 1.41 g/t Au
2.20 m @ 1.00 g/t Au
6.00 m @ 8.72 g/t Au
9.00 m @ 1.12 g/t Au
11.0 m @ 1.48 g/t Au
4.50 m @ 0.29 g/t Au
5.00 m @ 0.32 g/t Au
4.00 m @ 0.50 g/t Au

Average grade : 1.96 g/t Au

Average thickness : 4.38 m
Volume : 97,737.5 x 4.38 = 428,090.25 m3
Tonnage : 428,090.25 x 2.3 = 984,607.58 ton
Ore : 984,607.58 x 1.96 x 0.03 = 57,895 oz AU
 IUP PT SUMBER ENERGI JAYA – TOULUAAN

IUP PT Sumber Energi Jaya - Touluaan, Southeast Minahasa, has a prospect area that is called
“Ular Hijau”.
 IUP PT SUMBER ENERGI JAYA – RATATOTOK

The PT Sumber Energi Jaya - Ratatotok IUP, Southeast Minahasa, has several prospect areas,
namely:

1. Leon Hill
2. Yance Hill

ORE RESERVE ESTIMATION YANCE AND LEON (NEWMONT)

RATATOTOK PROSPECT

Leon Hill
Average grade : 4.2 g/t Au
Tonnage : 707,908 ton
Ore : 707,908 x 4.2 = 2,973,213.6 gram Au

Yance Hill
Average grade : 2.5 g/t Au
Tonnage : 618,802 ton
Ore : 618,802 x 2.5 = 1,547,005 gram Au

Total Ore Leon Hill and Yance Hill

= 2,973,213.6 + 1,547,005
= 4,520,218.6 gram Au
Map of drill points distribution of Yance and Leon regional Prospects
Geological map of the Yance area.