Company Profile

About Us
Mayfox Mining Company Limited is an indige- referred to as the Nakalale Goldfields.
nous Kenyan owned mineral exploration company
which began operations in 2012. The company has To date, Mayfox Mining has carried out a successful
since been exploring for gold and other preciousand detailed airborne magnetic, radiometric and
minerals in Turkana County, Republic of Kenya. digital terrain survey with a total line coverage of
The company initially began with a reconnais- over 11,390km. This was done using Geotech Air
sance license approximately 22,000 sq. km (underborne Survey, Australia. Via this highly successful
Gazette Notice no. 529) which was subsequentlyairborne survey, coupled with highly skilled geo
converted to Special ProspectingLicense under chemical work, Mayfox Mining Company Limited
the registration SPL 281; this was divided into SPL
has identified 19 target areas of gold mineraliza
281 A and SPL 281 B (3,500sq. km and 2,400sq. tion and other precious metals. The target areas
km respectively). Through both geochemical andgeology discovered compares to the Niassa Gold
geophysical studies, in 2014, SPL 281 A and B Belt in Mozambique,which hosts estimated re
were further reduced to approximately 1,639 sq.serves of 4-5 million oz. of gold.
km and 451 sq. km respectively, as part of Mayfox
Mining’s relinquishment program. Late in the yearThe next phase of exploration encompasses
2015, SPL 281 B was 100% relinquished back to phased drilling of over 1000m within the SPL 221
the government of Kenya upon receiving unsatis- area. This shall facilitate exploration towards at
taining a JORC Mineral Reserve that will take them
factory results from the extensive exploration-pro
gram undertaken. In the same year Mayfox Mining into commercial mining.
acquired SPL 221, of approximately135 sq. km,

2
Our Philosophy
The philosophy of the company rests on three, solidly interrelated motives:

The development of a dedicated and sustainable relationship with the local communities

The contribution to the development of the country’s relatively ‘young’ mining sector

The integration between local investments and international financial markets.

These principles have driven, and will continue to drive, Mayfox Mining’s operations both locally and
globally. In terms of purporting a sustainable impact with the local community, Mayfox Mining is com
mitted on several fronts. Indeed the mining sector can be said to be relatively ‘young’ in Kenya, with all
social and professional consequences that follow.

3
Mineral reserve areas are left adrift, impacted only by occasional artisan miners, who find themselves
working not only as abusive professionals, but are also subject to harshly unsafe conditions; these work
ers are thus exposed not only to the operational risks typical of mining, but also to frequent aggression
and theft even for strictly marginal findings.

Having researched and witnessed these conditions alongside the existing communities, at Mayfox Min
ing we are firmly aware of the ethical and social need to an extensive inclusion of the latter in our opera
tions. Not only are we committed to ensuring extensive degrees of local content in our employment, but
we are also committed to a first-rate formation of local resources. The sustained training of local skills
in the operation and management of our fields is something in which Mayfox Mining believes strongly,
for an ever-increasing mutual benefit between the company and our close communities

Moreover, the current expansion of the mining sector, in which Mayfox Mining is proud to partake, will
likely imply a development of the legal and commercial infrastructure in the field, as recent governmen

4
tal initiatives suggest. At Prestige gems we hope we can contribute strongly, at any occasion, and for this
matter
we pride ourselves with being a prime and close affiliate to the Kenya National Chamber of Mines.

At any level, from that of financial regulation, to that of professional and safety standards, we are com
mitted to putting our experience at the service of public regulators. In the recent past we have proudly
represented, alongside the Chamber of Mines and other local companies, the interests and rights of the
Kenyan mining sector and national and international occasions, and we thus hope we can constructively
continue to do this, both locally and globally, to ensure that the fertile Kenyan Mining sector continues
to prosper, as it rightfully should.

Our third principle that of integrating our operations to international financial markets, evidently fol
lows from the abovementioned. As an international Board, with wide-ranging experience across differ
ent sectors, and throughout different regions, we are aware of the crucial relevance, and benefit, that the
leverage on international financial markets can bring to the local investments. Evidently this leverage
will thrive as the social, legal, and commercial infrastructure of the Kenyan mining sector pursues in its
consolidation. We thus aim to contributing to this growth, as our strategic intentions are to foster our
operations via both private and public placements of the company, with increasingly global reaches, as
operations proceed.

The strong interrelations between the three main principles driving our company’s philosophy can thus
be resumed: we intend to grow with Kenya, a growth we very much believe in, and aim at contributing
to place its mining sector on the global financial map. In order to do so, for the long term ahead, Mayfox
Mining is all the more aware of the crucial relevance of developing a safer, sustainable, and skilled envi
ronment for all local content involved. We thus invite you to send us any consideration you might find
useful, and we very much hope you will join us in growing alongside this prosperous country, for the
prosperous future we foresee.

5
Our Licence
Operating under Special Prospecting License (SPL) B (East) was relinquished later in 2015.
281, Mayfox Mining has been carrying out explora
The former consisted of 14 target areas of gold
tion both via land and airborne surveys covering
mineralization and other precious metals; geolog
vast areas within Turkana County. As a result of
ical similarities discovered compare the site to the
mineral target identification, Mayfox Mining cur
Niassa Gold Belt in Mozambique, which hosts esti
rently implemented a reduction of the license from
mated reserves of 4-5 million oz. of gold.
the original 5,900 sq. km to 1,639 sq. km precise
ly. The licensed area initially covered two blocks:
Block A (West) and Block B (East), of which Block

Nakalale Goldfields Murulim hills and Kalimapus Goldfields

Kalobeyei

Aterika Town Centre

Nadwat Town Centre

Color Code
Color Code
High: 1053 Meters Low: 615 Meters
High: 1442Meters Low: 732Meters

6
Leadership
Board of Directors

Manga Mugwe
Chairman
Manga Mugwe is the founder and chairman of Mayfox Mining Company Limited
since 2008. He has achieved the recognition of a highly experienced and indepen
dent chairman across several sectors. His breadth of experience lies in manufac
turing, telecommunications, large scale agriculture, energy, media, insurance and
real estate in Eastern Africa. He has served in various parastatal boards e.g. Ken
ya Electricity Generating Company (KenGen), Kenya National Trading Company
(KNTC), Sports Stadia Management Board of Kenya and also in public company
boards e.g. Jubilee Insurance Company. He has also served as the chairman of
the Kenya Association of Manufacturers (KAM), in view of being an industrialist
-Morris & Co. Ltd (for Steel).

Paul Bugingo
Director

Paul Bugingo has been a director of the board at Mayfox Mining Company Lim
ited since 2014. Paul is a partner in the international law firm Dentons. He also
serves as the Relationship Chair of Denton’s Africa Steering Committee, which
formulates and implements the firm’s strategy for Africa. He is based in Dubai
and was instrumental in the establishment and growth of the firm’s network of
associate offices in Africa, currently in Algeria, Angola, Burundi, Cape Verde, Gha
na, Guinea Bissau, Kenya, Libya, Mauritania, Morocco, Mozambique, Namibia, Ni
geria, Rwanda, Saã o Tomeé and Principe, South Africa, Tanzania, Uganda and Zam
bia. Paul joined Denton’s Energy Infrastructure & Project Finance department in
1998and since then has advised Governments, Utilities, Regulators and private
companies on energy & infrastructure projects across Africa, including in South
Africa, Botswana, Kenya, Uganda, Ghana, Rwanda, Lesotho and South Sudan.

7
 Wagner Eleuteri
Director BSc. Hons (International Relations), GIA

Wagner Eleuteri has been a Director of the Board at Mayfox Mining Company
Limited since 2012. His academic back ground includes studies at the London
School of Economics (International Relations BSc) and at the Gemological Insti
tute of America (Graduate Gemologist). After significant experiences in the pre
cious metals and gems sectors in India and the United States, he moved to Italy
to run the Carlo Eleuteri firm, a prestigious and globally renowned entity in the
field of high-end vintage jewelry. Here, he has operated as Managing Director,
being chiefly exposed to responsibilities in the Procurement, Sales, and Public
Relations divisions.

8
Tommaso Picciotto
Director BA. Hons (Econ), MSc (Comparative Politics)

Tommaso Picciotto has been a Director of the Board at Mayfox Mining Compa
ny Limited since 2012. His academic background includes Philosophy and Eco
nomics (BA at University College London) and Comparative Politics (MSc at the
London School of Economics).He gained his main professional experience at the
management consulting firm Bain & Company. His involvement has ranged from
projects in the field of traditional and renewable energy to others in the financial
sector, though he specialized primarily with the exploration and production of
energy commodities, for which he personally followed initiatives of enhanced
project management, optimized procurement, and integrated commodity trad
ing.

Mugwe Manga
Commercial Director BA. Hons (Econ), MIB

Mugwe Manga has served as commercial director of Mayfox Mining Company

Limited since 2009. He manages the company’s business development strategy
and has been integrally involved in the implementation of its mineral exploration
programs. He holds a BA in Economics from the University of Nottingham and a
Masters in International Business (MIB) from Grenoble EÉ cole de Management.
He has gained experience in the banking industry working at Goldman Sachs
International, London under the Private Wealth Management division specializ
ing in institutional portfolios. He has gained over 9 years’ experience working in
Kenya, where he sits on various boards in the IT and renewable energy sectors
and is an executive committee member of the Lake Naivasha Ripirian Associa
tion.

9
 Julius Thindi
Chief Accountant CPA(K); ICPAK, MBA (Finance)

Julius Thindi brings more than 10 years in diverse tax, financial, and business
consulting experience to his role as a Certified Public Accountant. Prior to this he
worked as a supervisor at BDO East Africa a position he held for 3 years. His ex
perience and accounting work has seen him carrying out audits, financial due dil
igence at the likes of Brookside Dairy Limited, ALS Limited, Mtibwa Sugar Com
pany (Tanzania) and Kenya Roads Board (KRB). He is a member of the Institute of
Certified Public Accountants of Kenya and holds a practicing certificate coupled
with an MBA in Finance from the Kenya Methodist University.

Our Team
Rita Gathigia
Operations Manager

Rita Gathigia joined Mayfox Mining Company Limited in 2015 and is responsible for the efficient execu
tion of Mayfox’s strategy by overseeing smooth running of projects, building cohesion between both in
ternal and external stakeholders, administration of the company’s Enterprise Resource Planning (ERP)
system and proper data management of the company’s geological results to international standards;
quality assurance quality control (QA/QC). She holds a Bachelor’s degree in Mathematics and Computer
Science from Jomo Kenyatta University of Agriculture & Technology (JKUAT); Statistics Major. She is
also undertaking Association of Chartered Certified Accountants (ACCA) at Strathmore University. Rita
brings on board brief experience from Britam Kenya and is working with various non-governmental
organizations in Kenya.

10
Malidzo Chidzugwe J.
Junior Exploration Geologist

Malidzo joined Mayfox Mining in 2015 and is responsible for the company’s mineral exploration pro
gram designs. He brings on board exploration experience from Turkana, Kilifi and Kitui Counties (Ken
ya) in addition to the technical skills involved in geochemistry, surface exploration in geology, geophys
ics along with GIS mapping and interpretation. He holds a BSc. Geology from the University of Nairobi
(Kenya) and is a professional member of the Geological Society of Kenya (GSK). Malidzo is an earth
enthusiast who aims to play a vital role in the economic growth of Kenya and Africa as a whole.

11
Exploration Projects

Murulim Hills
Eleven (11) target areas have been identified within Murulim Hills. The area lies on the Block 281A
(West) where Neoproterozoic Mozambiquan belt rocks of Archean age are exposed that are favorable
for gold mineralization. Detailed stream sediment sampling and trenching on the target areas will need
to be carried in order to identify drilling targets that will eventually prove a resource. The minerals of
interest include: Gold (Au), Copper (Cu), Nickel (Ni), Lead (Pb) and Uranium (U)

Kalimapus Goldfields
Three (3) target areas have been established in Kalimapus goldfields. The area is geologically regarded
to have the best gold potential due to its positive sample results (2.3 g/ton Au) and well defined (K)
alteration zones in association with the NNW-SSE shear zones. The tectonic setting is similar to that of
the Niassa Gold Belt in Northern Mozambique and possibly even better, given the possibility that the
rocks here are comprised of reworked Neoproterozoic crust and possibly also of juvenile Neoprotero
zoic crust. Such structures play host to reserves of 3-5 million oz of gold (Au).

Lapur Ranges
Artisanal gold mining in the renowned Sesame area just north of the Lapur Range has been ongoing for
many years. The geological similarities of Sesame and Lapur ranges gave positive indications of gold
occurrence in the previously owned licensed area. An in-fill soil sampling program on 5 target areas was
undertaken in order to define further identified anomalies and to choose more accurately trenching and
drilling sites. However, the areas did not test positive for further operations and was hence relinquished.
12
Nakalale Goldfields
This area lies under Special Prospecting License (SPL) 221, covering an area of approximately 135sq.
km. Several gold occurrences are quite evident in the license area, such as the Makutano (“Gold”) area
situated about 35 Km NW of Lodwar town and in Lomeguro. Previous rock samples taken by Mayfox
have tested positive for gold (Au) with highs of up to 15g/ton.

The Nadwat shear zone is the most prominent geological structural feature in SPL 221. It consists of two
parallel quartz veins that have been exploited by artisanal miners for years. The veins potentially extend
towards the South West across a seasonal stream in an area where the Mozambiquian substratum is
covered by a thin layer of quaternary sediments, anticipated to be 5 to 20m thick. The structural char
acteristics of the shear zone are yet to be determined. Other known primary gold occurrences include a
shear zone at Lolupe, and a quartz vein at Aterika.

Mayfox is in the process of undertaking a rapid assessment of the gold production potential over SPL
221.

13
Geological Consultants
Since 1987, Snowdenhas delivereda comprehensiverange of
technical consulting services and independent advice to explora
tion and mining companies, as well as legal and financial institu
tions with interests in the mining sector. Offering a wide range
of integratedskills to managetasks of any natureand level of
complexity, throughout the mining life cycle. Snowden now em
ploys more than 150 talented staff in offices based in Australia,
Africa, Europe, and the Americas, with plans for further expan
sion.

Established in 2010 and founded with both local and foreign ex

ploration and mining companies in mind, AMS facilitates and pro
vides grass roots geological exploration quality services to May
fox Mining Company Limited.

Vancouver-basedPhotoSathas developeda technologyto pro

duce highly accurate topographic base maps. The geophysicists
at PhotoSat work with Mayfox Mining Company in high quality
ASTER images of the licenced area.

14
15
Nominated Advisor (NOMAD)

KestrelCapitalis an independentstockbrokerlicensedby the

Kenyan Capital Markets Authority (CMA) and a member of the
Nairobi Securities Exchange (NSE). Kestrel is the leading stock
broker and bond trader on the Kenya stock market for foreign
and local institutional investors, with a strong focus on market
and company research. Kestrel Capital is Mayfox Mining Compa
ny Limited’s appointed NOMAD for the anticipated GEMS listing.

16
Financial Auditors
PKF in Kenya is part of PKF in Eastern Africa which comprises PKF
International member firms operating in Kenya, Uganda, Rwanda,
Burundi, Tanzania, Zambia, Somalia and associates in The Repub
lic of Southern Sudan & Ethiopia. PKF and its associates provide
a wide range of services including audit and assurance, business
and financial advisory, information technology, human resources
consulting,taxationand corporationsecretarialservices,across
diverse industry and client profiles. Across the Eastern Africa Re
gion, the firm comprises 40 partners/directors and a staff force of
almost 800. In Kenya, PKF has offices in Nairobi, Mombasa, Nakuru,
Kisumu and Malindi.

Legal Consultants
Established in 1927 Kaplan & Stratton is a premier law firm pro
viding a comprehensive range of legal services and solutions for
domestic and international clients. The firm is reputed as a leading
law firm in the East African region and represents Mayfox Mining
Company Limited in all legal processes.

17
Technical Support

Sage is a supplier of accounting and payroll software to the small to

medium sized business community worldwide. gives
It businesses
around the world the information, insight and tools they need to
succeed today. Sage combines social, mobile, real-time technology
to put live information at your fingertips so you can make fast, in
formed decisions. Sage also recently createdSage
the Foundation
and through it launched a bold new 2+2+2 model for corporate
philanthropy.

Mayfox Mining Company Limited is a proud user

SageofEvolution
as a Business Management Solution

18
Investor Relations
GEMS Listing

Compliance with Capital Market Authority standards for listing on to the Growth Enterprise Market
Segment (GEMS) of the Nairobi Securities Exchange (NSE) is currently under way with Kestrel Capital as
the appointed NOMAD. As an indigenous Kenyan mineral prospecting company this will give the Kenyan
public the opportunity to buy in to a flourishing company in this sector, which will be the first of its kind.
We are offering shareholders the ability to trade in stock that would be beneficial in creating liquidity
and realizing capital gains as the property continues to get de-risked

19
Contacts

Mayfox Mining Company Limited

Garden Road, off Riverside Drive
Nairobi

E: info@mayfoxmining.com
T: +254 (0) 20 239 2472
W: www.mayfoxmining.com