Objectives

Guinor Gold Corporation’s primary objective is to become a long-term leading West African mid-tier gold producer, achieving growth through expansion of its resources and reserves in order to support a large tonnage CIL operation by the end of 2006. At the same time we aim to secure the safety and health of the personnel in and around the operations, by adhering to high operating standards as well as maintaining a concern for the environment in accordance with best industry practice.

Strategy

Guinor will maintain a strategic focus on those areas where the company is presently or will become a leading operator, by applying core skills, and by using the best industry systems and technologies. This strategy requires continued focus on operational efficiencies running parallel to business development efforts in core business and related areas.

The premier growth strategy is through organic growth. We have announced substantial resource and reserve increases for the Lero-Fayalala (LEFA) gold project. An exploration program commenced in September 2002, followed by a LEFA Corridor feasibility study examining the construction of a CIL plant. The feasibility was finalised in March 2005.With a production target of 320,000 ounces of gold annually, Guinor is on its way to achieving the target of becoming a mid-tier gold producer by 2007.

A second growth strategy revolves around strategic alliances, mergers, acquisitions and joint ventures which will take advantage of the strength and knowledge base of all employees in the company.

Finally, efforts will be made to further develop human resources, by employing high quality professionals with the required qualifications to execute the corporate objectives and strategies outlined above.