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Blencowe Resources Plc (BRES) – Stage Two Drilling Program Commences

Stage Two Drilling Program Commences at Orom-Cross Graphite Project

Highlights:

  • Stage Two 2,200m (74 holes) diamond drilling program underway in Uganda.
  • Designed to define a +10Mt TGC Measured and Indicated Resource from existing 16.3Mt.
  • Fully funded through existing cash resources.
  • Previously drilled high grade zones in Northern Syncline and Camp Lode to be included in new upgraded resource.
  • Additional in-fill drilling to provide basis for mine planning, delivery of geotechnical and other information, for inclusion in Pre-Feasibility Study (PFS).

Blencowe Resources Plc (“Blencowe Resources” or the “Company”) (LSE: BRES) is pleased to announce the commencement of the Stage Two drilling program at Orom-Cross, designed to in-fill the recently announced JORC Resource and upgrade substantial tonnes into the Indicated and Measured categories. This additional program will progress Orom-Cross along its development path towards first production, and will be executed using the Company’s in-country technical partners, ADT Drilling and Minrom Consulting. Additional resources will also be targeted in the current programme, with drilling also focusing on proven high grade areas, as yet not included in the maiden JORC Resource.

On 13 April 2021, Blencowe announced its maiden JORC Resource estimate for Orom-Cross, less than one year after acquiring the Project. The commencement of Stage Two, so soon after the highly successful maiden drilling programme, underlines the Company’s focus to add significant value efficiently and cost-effectively within this development phase.  The drilling campaign will progress in parallel with the ongoing metallurgical test work, with leading graphite expert SGS Lakeside in Toronto/Canada, the results of which are expected later this quarter.  The drilling program will take approximately 2-3 months to complete, with a similar amount of time thereafter to prepare samples, complete all assaying and provide a JORC Resource update. The Company will provide updates during the drilling campaign as appropriate.

The maiden JORC Resource delineated a 16.3Mt TGC resource at Orom-Cross, almost twice the size as the originally targeted. This next phase of development will bring the drill spacing closer together to ensure continuity of both product and grade, as required for mine planning within the PFS that will follow.

The Stage One drilling program also located higher grade graphite in the Camp Lode, which was only partially explored. Stage Two will therefore also target parts of the Camp Lode to bring it into the overall JORC Resource for the first time, which is likely to have a material positive impact on both grade and tonnes.

Cameron Pearce, Executive Chairman commented;

“I am delighted to announce the commencement of our fully funded Stage 2 drilling program, which we expect will add further material value to the Orom-Cross graphite project in Uganda. We are moving quickly towards the feasibility studies phase and this current drill program is designed not only to expand the resource’s size, grade and classification, but also ensure that all necessary geological and mining information required for those studies is subsequently available.  We have already come a long way in a short period of time at Orom-Cross. We look forward to the results of this next phase of drilling and the results of the ongoing metallurgical studies with great optimism.

“We remain firm believers that the battery metals market is only just beginning its massive growth cycle over the next decade. We believe this once-in-a-generation transformation will continue to expand exponentially into the future.  Benchmark Minerals Intelligence recently announced that over two hundred lithium-ion battery Megafactories are now in the pipeline worldwide, a significant growth from just seventy factories three years ago. These represent millions of tonnes of future graphite demand in the years ahead and support the positive outlook for the graphite market.

Accordingly, we are resolute in our position that Orom-Cross offers significant value and the ability to play a substantial role in helping to ease the significant forecast deficit of graphite in the future.  We have already been issued a 21-year mining license at Orom-Cross, which not only considerably de-risks our work ahead, but also should help the Company advance the asset into production in an expeditious manner.

I look forward to updating the market on the results of the metallurgical test work later this quarter.”

 

For further information please contact:

  Blencowe Resources Plc

Sam Quinn

Investor Relations

Sasha Sethi

www.blencoweresourcesplc.com

Tel: +44 (0)1624 681 250

info@lionsheadconsultants.com

Tel: +44 (0)7891  677 441

sasha@flowscomm.com

Brandon Hill Capital Limited

Jonathan Evans

Tel: +44 (0)20 3463 5000

jonathan.evans@brandonhillcapital.com

 First Equity Limited                                                            Tel: +44(0)20 7330 1883

 Jason Robertson                                                                  jasonrobertson@firstequitylimited.com

Background

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of larger flakes identified from previous work performed. A 21-year Mining Licence was issued by the Ugandan Government in 2019 following extensive historical work on the deposit.

Orom-Cross presents as a large, shallow open pitable deposit, with an estimated resource in excess of 3 billion tonnes of graphite. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

Blencowe Resources #BRES – Director Dealings

Director/PDMR Share Purchase

Blencowe Resources Plc (“Blencowe” or “The Company”) (LSE: BRES) is pleased to announce that the Chairman, Cameron Pearce and the CEO Mike Ralston have purchased 100,000 ordinary shares each in the Company (“Ordinary Shares”) on market at a price of 6.45 pence per Ordinary Share.

Following this share purchase, Mr Pearce holds 7,016,667 Ordinary Shares (5.9% of the enlarged share capital) and Mike Ralston has a shareholding of 2,725,000 Ordinary Shares (2.3% of the enlarged share capital).

Further details are set out in the PDMR forms below.

For further information please contact:

Blencowe Resources Plc

Sam Quinn

Tel: +44(0) 1624 681 250

www.blencoweresourcesplc.com

info@blencoweresourcesplc.com

Investor Enquiries

Sasha Sethi

Tel: +44 (0) 7891 677 441

sasha@flowcomms.com

Brandon Hill Capital Limited

Jonathan Evans

Tel: +44 (0)20 3463 5000 jonathan.evans@brandonhillcapital.com

First Equity Limited

Jason Robertson

Tel: +44 (0)20 7330 1883

jasonrobertson@firstequitylimited.com

The Notification of Dealing Form provided in accordance with the requirements of the Market Abuse Regulation in relation to the transaction listed above is set out below.

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Mike Ralston ATF the Ralston Family Trust

 

2

 

Reason for the notification

a)

 

Position/status

 

Chief Executive Officer

b)

 

Initial notification /Amendment

 

Intial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Blencowe Resources PLC

b)

 

LEI

 

213800UX1HBIRK36GG11

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

 

Description of the financial instrument, type of instrument

Ordinary shares

Identification code

GB00BFCMVS34

b)

 

Nature of the transaction

 

Share Purchase

c)

 

Price(s) and volume(s)

Price(s)

Volume(s)

6.45 pence

100,000

d)

 

Aggregated information

– Aggregated volume

100,000

– Price

£6,450

e)

 

Date of the transaction

 

29 April 2021

f)

 

Place of the transaction

 

Outside a Trading Venue

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Cameron Pearce

 

2

 

Reason for the notification

a)

 

Position/status

 

Chairman

b)

 

Initial notification /Amendment

 

Intial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Blencowe Resources PLC

b)

 

LEI

 

213800UX1HBIRK36GG11

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

 

Description of the financial instrument, type of instrument

Ordinary shares

Identification code

GB00BFCMVS34

b)

 

Nature of the transaction

 

Share Purchase

c)

 

Price(s) and volume(s)

Price(s)

Volume(s)

6.45 pence

100,000

d)

 

Aggregated information

– Aggregated volume

100,000

– Price

£6,450

e)

 

Date of the transaction

 

29 April 2021

f)

 

Place of the transaction

 

Outside a Trading Venue

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

Blencowe Resources #BRES – Brandon Hill CEO Oliver Stansfield purchases 500k of shares, now holds 3.2% of share capital

The Company has been informed that following an additional on-market purchase of 500,000 shares on 26 April 2021, Oliver Stansfield’s interest in the voting rights of the Company has increased to 3.2% (3,771,667 shares) as detailed in the TR-1 here.

Mr Stansfield’s interest is a combination of ordinary shares of 0.1 pence each and financial instruments (as defined in the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority).

Oliver Stansfield is the Chief Executive Officer of Brandon Hill Capital, who own an additional 3,995,000 Blencowe Resorces ordinary shares, representing a further 3.4% of the outstanding issued share capital. 

Alan Green talks Coinbase & Mast Energy #MAST IPOs and markets, plus ECR Minerals #ECR, Blencowe Resources #BRES & Open Orphan #ORPH on UK Investor Magazine podcast

Alan Green joins the UK Investor Magazine Podcast as we await trading in Coinbase, the cryptocurrency dealing platform which could be valued at $100bn.

The Coinbase IPO marks the move of cryptocurrencies to the mainstream and we question what it could mean for assets such as Bitcoin if investors view Coinbase’s listing as a ‘buy the rumour, sell the fact’ moment.

Major investment banks and institutional investors have changed their stance on Crypto with this IPO, many who warned against investing in the assets, or even called them a Ponzi scheme, are now showing interest and working them into their business models.

After the busiest quarter for IPOs on the London Stock Exchange since 2007, we touch on Mast Energy Developments who began trading today, changing hands at 15p having set an IPO price of IPO.

The three UK equities we explore in this episode are ECR Minerals (LON:ECR), Open Orphan (LON:ORPH) and Blencowe Resources (LON:BRES)

Blencowe Resources #BRES – Investor Webinar – 19 April 2021

Blencowe Resources (BRES:LON), the graphite explorer developing the Orom-Cross jumbo flake graphite project in Uganda, is pleased to announce that it will host a shareholder webinar and Q&A via Zoom video conferencing at 12:00pm BST / 7:00pm WST on Monday 19 April 2021.

The call will be hosted by Blencowe’s CEO Mike Ralston who will discuss the recently announced maiden JORC Resource Statement for the Company’s Orom-Cross graphite project in addition to the forward work programme for the Orom-Cross for 2021. Please see RNS also released on 13 April 2021 further details upon the Orom-Cross maiden JORC. 

Interested participants are invited to pre-register for the conference using the link below. Please note that registration is a pre-requisite to access the webinar:  

https://us02web.zoom.us/webinar/register/WN_rKWakxGxQBONys_xiR-xeg

The Company also invites shareholders who may wish to, to submit questions in advance via email to info@blencoweresourcesplc.com

The Company’s corporate presentation can be found at the following link:

https://blencoweresourcesplc.com/presentation/

Please note that until the Q&A session has begun that all participants will initially be muted without audio with the exception of Company management. Telephone only dial-ins from UK and international locations can be provided upon request. 

A recording of the call will also be made available on the Company’s website following the call.

**ENDS**

For further information please contact:

 

Blencowe Resources Plc

Sam Quinn

Tel: +44(0) 1624 681 250

www.blencoweresourcesplc.com

info@blencoweresourcesplc.com

Investor Enquiries

Sasha Sethi

Tel: +44 (0) 7891 677 441

sasha@flowcomms.com

Brandon Hill Capital Limited

Jonathan Evans

Tel: +44 (0)20 3463 5000 jonathan.evans@brandonhillcapital.com

First Equity Limited

Jason Robertson

Tel: +44 (0)20 7330 1883

jasonrobertson@firstequitylimited.com

Background

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of larger flakes identified from previous work performed. A 21-year Mining Licence was issued by the Ugandan Government in 2019 following extensive historical work on the deposit.

Orom-Cross presents as a large, shallow open pitable deposit, with an estimated resource in excess of 3 billion tonnes of graphite. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.

Blencowe Resources #BRES – Maiden JORC Mineral Resource delivered at Orom-Cross Project

Blencowe Resources Plc is pleased to announce its maiden JORC Mineral Resource Estimate at its 100% owned Orom-Cross graphite project in Uganda: 

Highlights

  • JORC Indicated & Inferred Mineral Resource for Northern Syncline deposit of 16.3Mt @ 6.0% Total Graphite Content (4% TGC cut off), approximately double the targeted 8-10Mt.
  • Includes higher grade zones of 3Mt @ 8.1% TGC (7% TGC cut off).
  • Resources commence from surface to a depth of 30m, where drilling ended in mineralisation.
  • Drill results from higher grade Camp Lode deposit to be added into a further Orom-Cross JORC Resource statement ahead, further boosting both tonnes and average grade.

Blencowe’s 2020 drilling program focused on a small part of the estimated 3 billion tonnes graphite deposit at Orom-Cross, with the objective of identifying a maiden JORC Mineral Resource of around 8-10Mt, being sufficient to provide the basis for an initial 25Kt per annum mining operation for the first ten years. The maiden JORC Mineral Resource, which covers only one of the two deposits drilled, being the Northern Syncline lode, has yielded almost double the targeted tonnage. These numbers will be further boosted by inclusion of the previously reported higher grade drilling results from the Camp Lode deposit to be reported in a further JORC Mineral Resource update in 2H 2021.These results, which come from the weathered, close to or at surface, zone of the deposit, highlight the quality of the Project’s mineralisation and the potential for Orom-Cross to become a low-cost graphite producer. These resources were identified in an area adjacent to the proposed plant site, thereby expected to further boost the project economics of any subsequent development.

Blencowe will conduct a further geotechnical drilling programme to commence shortly for inclusion within the Pre-Feasibility Study (PFS) later this year. At the same time Blencowe will add further holes on the Camp Lode deposit to enable this higher grade portion of the deposit to be included in the next upgraded JORC Mineral Resource, along with some additional drilling in the Northern Syncline to convert more of the existing Inferred resources into an Indicated category.

The Company is pleased to report good progress is being made by globally respected consultants SGS Lakefield with respect to its metallurgical studies and expects to be in a position to release the results from this test work towards the end of the current quarter. These metallurgical studies are a key input into the upcoming Feasibility Study and also to progress a Preliminary Economic Assessment (PEA) for the project, for which work is set to begin imminently and which will be delivered prior to the Pre-Feasibility Study.

The objective of the metallurgical test work is to fully understand the quality of the end-product that Orom-Cross can deliver, as well as the process flow to achieve that. Blencowe believes Orom-Cross has the potential to deliver a high grade graphite concentrate which would prove desirable to potential offtakers and the broader market.

Cameron Pearce, Executive Chairman commented:

“Following our acquisition of the project less than one year ago I am delighted to announce our maiden JORC Mineral Resource at Orom-Cross and at a time when the global market for graphite is set to grow exponentially.

This resource has provided almost double the tonnes we set out to deliver from just one of the two deposits we explored, being the Northern Syncline. When coupled with the higher grade Camp Lode drill results and their expected inclusion in a further resource update, it will enable Blencowe to either high grade any mining activities or to increase our production targets.

Additional drilling at Orom-Cross is set to begin shortly as is work towards delivery of a Preliminary Economic Assessment as a pre-cursor to the Pre-Feasibility Study. We also look forward to the results of the met-test work from the SGS Lakeside (Canada) labs during this quarter.

As we move through exploration into the studies phase Orom-Cross remains on course to become a significant developer of flake graphite, which is one of the key input materials into the highly sought-after lithium-ion batteries for electric vehicles. With an active programme of work and news flow ahead we look forward to continued progress in 2021″

Mineralization Zones

The Orom Graphite Project is located in the Kitgum District in north-eastern Uganda. The exploration activity identified and named at least five (5) major graphite mineralised zones within the project property underpinned by Mining Licence (ML) 1959, namely:

1.  Northern Syncline

2.  Camp Lode

3.  Central Anticline

4.  Synformal Saddle

5.  Southern Anomaly

The Phase 5 Resource Delineation Programme aimed at investigating the near surface, free dig graphite mineralised material within a portion of the Northern Syncline and Camp Lode mineralised zones. Therefore, each mineralised zone was divided into four sub-zones based on the subsurface level of oxidation and weathering. Field observations and preliminary analyses suggest a mean global weathering depth of ~15m with a range of ~9m to ~25m in some instances.

The Graphitic Carbon (GC) grade population within the investigated mineralised zones indicates that the in situ graphite grade for the deposit ranges from 0.01% to 24.1% GC with a mean grade of 5.6% GC and a mode of 6.2% GC.  The JORC compliant resource estimate for these two graphite mineralised areas has been completed and is based on the drill hole spacing, grade variability and geological confidence. The result of the modelling and estimation process is the initial Mineral Resource below.

Resource Estimates

Geostatistical analysis of the data allowed for the Northern Syncline to be estimated and reported according to the into JORC (2012) code. A Resource block model was therefore constructed for the Northern Syncline. The block size for the model was dependant on the data spacing and a final block size of 10m x 20m x 3m was selected with a rotated grid to match the orientation of the graphite mineralisation zones.

An Ordinary Kriged estimation was performed and resulted in both Inferred and Indicated Resources being reported for the Northern Syncline. The Resources for the Northern Syncline have been tabulated at various cut-off grades starting at 3% GC. A 4% GC cut-off was determined to be appropriate based on preliminary economic analysis. The Resources are presented as follows:

The Resources declared can be summarised as follows:

Mineral Resources – Block Models

Area

Material

Resource

Category

Cut-off

Grade

Tonnage (t)

Mt

SG

%GC

%TC

 

 

 

 

Northern Syncline

 

Weathered

Inferred

4% GC

3 517 350

3.5

2.18

5.86

6.09

Indicated

4% GC

1 941 840

1.9

2.18

5.60

5.82

Measured

Not reported

Subtotal

4% GC

5 459 190

5.4

2.18

5.77

5.99

 

In situ

Inferred

4% GC

8 979 330

8.9

2.70

5.83

6.06

Indicated

4% GC

1 911 300

1.9

2.69

5.52

5.80

Measured

Not reported

Subtotal

4% GC

10 690 650

10.7

2.70

5.78

6.01

 TOTALS

All

Inferred

4% GC

12 496 700

12.5

2.56

5.84

6.07

All

Indicated

4% GC

3 353 140

4.3

2.43

5.56

5.81

TOTAL

Inf.+ Ind.

4% GC

16 349 840

16.3

2.53

5.77

6.01

GC – Graphitic carbon, TC – Total carbon

** Tonnes have been rounded off

In conclusion it can be seen that significant mineralisation was identified and delineated by the exploration programme. Although not all the mineralisation identified had sufficient geological confidence to be classified as a Mineral Resource (JORC, 2012), approximately 75% of the mineralisation was classified as such after applying a cut-off grade of 4% GC. 

Competent Person’s Statement

The information in this release, which is related to Mineral Resource estimation, was compiled under the supervision of Mr JP van den Berg who is an employee of Minrom Consulting (Pty) Ltd, Member of the Geological Society of South Africa (GSSA) and a Certified Professional Natural Scientist (Pr.Sci.Nat) with the South African Council for Natural Scientific Professions (SACNASP). 

Mr Van den Berg has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity that he has undertaken to qualify as a Competent Person as defined by the JORC (2020) Code. Mr Van den Berg consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. 

For further information please contact:

 

Blencowe Resources Plc

Sam Quinn

Tel: +44(0) 1624 681 250

www.blencoweresourcesplc.com

info@blencoweresourcesplc.com

Investor Enquiries

Sasha Sethi

Tel: +44 (0) 7891 677 441

sasha@flowcomms.com

Brandon Hill Capital Limited

Jonathan Evans

Tel: +44 (0)20 3463 5000 jonathan.evans@brandonhillcapital.com

First Equity Limited

Jason Robertson

Tel: +44 (0)20 7330 1883

jasonrobertson@firstequitylimited.com

Background

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of larger flakes identified from previous work performed. A 21-year Mining Licence was issued by the Ugandan Government in 2019 following extensive historical work on the deposit.

Orom-Cross presents as a large, shallow open pitable deposit, with an estimated resource in excess of 3 billion tonnes of graphite. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.

Blencowe Resources #BRES raises £37,866 in warrant exercises

Blencowe Resources, the natural resources company focused on development of the Orom-Cross Graphite Project in Uganda, is pleased to announce that it has received warrant exercise notices in respect of 686,667 ordinary shares (the “Warrant Shares”) from warrant holders. The aggregate proceeds from the exercise of the Warrant Shares are £37,866.69. 

An application has been made for the 686,667 ordinary shares of 0.5p to be admitted to trading on the London Stock Exchange with effect from 8.00 a.m. on 14 April 2021 (“Admission”).

In accordance with the FCA’s Disclosure Guidance and Transparency Rules, the Company confirms that following the issue of the Warrant Shares, the Company’s enlarged issued ordinary share capital will comprise 118,004,950 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA’s Disclosure Guidance and Transparency Rules. 

For further information please contact:

Blencowe Resources Plc

Sam Quinn (London Director)

www.blencoweresourcesplc.com

info@blencoweresourcesplc.com

+44 (0)1624 681 250

Investor Enquiries

Sasha Sethi

Tel: +44 (0) 7891 677 441

sasha@flowcomms.com

Brandon Hill Capital Limited

Jonathan Evans

Tel: +44 (0)20 3463 5000 jonathan.evans@brandonhillcapital.com

First Equity Limited

Jason Robertson

Tel: +44 (0)20 7330 1883

jasonrobertson@firstequitylimited.com

Background

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of larger flakes identified from previous work performed. A 21-year Mining Licence was issued by the Ugandan Government in 2019 following extensive historical work on the deposit.

Orom-Cross presents as a large, shallow open pitable deposit, with an estimated resource in excess of 3 billion tonnes of graphite. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.

Blencowe Resources #BRES – Result of AGM

Blencowe Resources Plc (“Blencowe Resources”) (LSE: BRES) is pleased to announce that at the Company’s Annual General Meeting held earlier today, all resolutions were duly passed .

Ends

For further information, please visit https://blencoweresourcesplc.com   or the following:  

Blencowe Resources Plc

Sam Quinn (London Director)

www.blencoweresourcesplc.com

Tel: +44 (0)1624 681 250

info@blencoweresourcesplc.com

 

Brandon Hill Capital Limited

Jonathan Evans (Corporate Finance)

Tel: +44 (0)20 3463 5000

jonathan.evans@brandonhillcapital.com

 

Blencowe Resources #BRES warrant exercise raises £26,250

Blencowe Resources, the natural resources company focused on development of the Orom-Cross Graphite Project in Uganda, is pleased to announce that it has received warrant exercise notices in respect of 437,500 ordinary shares (the “Warrant Shares”) from warrant holders. The aggregate proceeds from the exercise of the Warrant Shares are £26,250.

An application has been made for the 437,500 ordinary shares of 0.5p to be admitted to trading on the London Stock Exchange with effect from 8.00 a.m. on 30 March 2021 (“Admission”).

In accordance with the FCA’s Disclosure Guidance and Transparency Rules, the Company confirms that following the issue of the Warrant Shares, the Company’s enlarged issued ordinary share capital will comprise 117,318,283 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA’s Disclosure Guidance and Transparency Rules.

For further information please contact:

Blencowe Resources Plc

Sam Quinn (London Director)

www.blencoweresourcesplc.com

info@blencoweresourcesplc.com

+44 (0)1624 681 250

Investor Enquiries

Sasha Sethi

Tel: +44 (0) 7891 677 441

sasha@flowcomms.com

Brandon Hill Capital Limited

Jonathan Evans

Tel: +44 (0)20 3463 5000 jonathan.evans@brandonhillcapital.com

First Equity Limited

Jason Robertson

Tel: +44 (0)20 7330 1883

jasonrobertson@firstequitylimited.com

Background

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of larger flakes identified from previous work performed. A 21-year Mining Licence was issued by the Ugandan Government in 2019 following extensive historical work on the deposit.

Orom-Cross presents as a large, shallow open pitable deposit, with an estimated resource in excess of 3 billion tonnes of graphite. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.

Blencowe Resources #BRES – Notice of AGM

Blencowe Resources Plc (“Blencowe Resources”) (LSE: BRES) is pleased to announce that the Annual General Meeting (“AGM”) of the Company will be held at 55 Athol Street, Douglas, Isle of Man at 10.00 am on 31 March 2021.  A Notice of AGM and Form of Proxy is today being posted to shareholders.

Due to the current Government guidance regarding Covid-19,  the AGM will be held as a closed meeting and shareholders should not seek to attend the meeting in person and are instead strongly encouraged to complete and return the Form of Proxy in accordance with the instructions printed thereon.

Ends

A copy of the AGM Notice and Form of Proxy will shortly be available at  https://blencoweresourcesplc.com

Enquiries:

Blencowe Resources Plc

Sam Quinn (London Director)

www.blencoweresourcesplc.com

Tel: +44 (0)1624 681 250

info@blencoweresourcesplc.com

 

Brandon Hill Capital Limited

Jonathan Evans (Corporate Finance)

Tel: +44 (0)20 3463 5000

jonathan.evans@brandonhillcapital.com

 

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