CONAKRY, REPUBLIC OF GUINEA – An article published by Africa Intelligence on July 27, 2020, contains comments attributed to Mr. Mamady Youla, CEO of Société des Mines de Fer de Guinée (“SMFG”) and former Prime Minister of Guinea, regarding the Nimba iron ore project. This article misrepresents statements made by Mr. Youla during a webinar on July 16, and SMFG wishes to correct the record.

“Africa Intelligence distorted my comments and attributed statements to me that were the opposite of the ideas I expressed,” Mr. Youla said. “In addition, the title of their article was grossly misleading. The Nimba Iron Ore Project is an ambitious and challenging project that raises a lot of hope and expectations, not only from the communities of this region but also from the Guinean authorities. We are determined and have the capacity to turn expectations into reality as fast as we can.”

About SMFG
SMFG aims to responsibly develop and operate the high-grade Nimba iron ore project, located in the Forestière region of the Republic of Guinea. SMFG is a subsidiary of High Power Exploration Inc. (“HPX”), a privately owned U.S. corporation led by Founder, Chairman and Chief Executive Officer Robert Friedland and an experienced board and management team.