Alba Mineral Resources plc

("Alba" or the "Company")

Clogau Gold Mine Operational Update

Alba Mineral Resources plc (AIM: ALBA) is pleased to confirm, in respect of its 100 per cent owned Clogau-St David's Gold Project ("Clogau" or the "Project"), the submission of renewed permit applications to dewater the Llechfraith Shaft and associated workings.

Situated within the Dolgellau Gold Field in north Wales, United Kingdom, the Project comprises the Clogau Gold Mine (the "Mine"), where Alba has identified a number of high priority gold targets through extensive exploratory drilling in 2020-21, as well as a large number of gold targets and former gold workings outside of the footprint of the Mine, within a total licence area of 106.94 km².  

Details

The Company's primary target within the Mine is the projected Llechfraith Shaft lode extension in the Lower Llechfraith workings, situated below the Llechfraith Adit level. This target was identified through Alba's surface drilling campaigns in 2020 and 2021, by which Alba was able to confirm vein (or lode) continuity up to ~122 m below the existing Lower Llechfraith workings (Fig. 1).  In order to gain access to that target, the Company must first dewater the flooded Llechfraith Shaft (Fig. 2).

Following the refusal by the competent regulator, Natural Resources Wales ("NRW"), in November 2021 to grant the Company's application to dewater the Llechfraith Shaft, in March 2022 Alba submitted additional data and analysis to the regulator and, following the receipt of further feedback, proceeded to implement an extension to the Company's programme of ecological and species surveys in order to expand the ecological dataset generated during the past 3-4 years.

Following the completion of those surveys, analysis of the survey results and their integration into the Company's overall dataset, Alba is pleased to report that it has now submitted to NRW an updated version of its previous, extensive "Report to Inform a Habitat Regulations Assessment", together with renewed applications for a water discharge permit and a European Protected Species licence in respect of the proposed dewatering exercise and subsequent safety and exploratory works.

The Company was also pleased to host recently a site visit at Clogau for senior NRW personnel.

Further material updates in respect of the permitting process will be provided as and when they become available.

Figure 1: Llechfraith 3D geological model, integrating all surface drilling programmes completed by Alba to date, showing the projected Llechfraith Shaft lode extension some 122m below the flooded workings.

Figure 2: Cross-section of Lower Llechfraith area showing flooded Llechfraith Shaft ("Main Shaft") and its associated workings.

Also shown is the location of proposed pumps and pipelines to draw water up to Mine Yard for treatment   via sediment settlement tanks prior to discharge.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

**ENDS**

For further information, please visit www.albamineralresources.com or contact:

Alba Mineral Resources plc

George Frangeskides, Executive Chairman                   +44 20 3950 0725 

SPARK Advisory Partners Limited (Nomad) 

Andrew Emmott                                                         +44 20 3368 3555 

OvalX (Broker)

Thomas Smith                                                          +44 20 7392 1494

St Brides Partners (Financial PR)

Isabel de Salis / Catherine Leftley                              [email protected]

Alba's Projects and Investments