Drilling Results Northern Syncline

8 February 2022                                                Blencowe Resources Plc

          ("Blencowe" or the "Company")

Blencowe confirms Successful Infill Drilling on Northern Syncline Lode at Orom-Cross Graphite Project

Blencowe is pleased to provide a further update to the comprehensive JORC Resource diamond drilling program that was completed in 2H 2021 on its Orom-Cross Graphite Project in Uganda

Highlights

·    Drilling at the Northern Syncline Lode delivers some outstanding high grade graphite results in the oxide zone including:

o  ORNS-L902, 11 metres at 9.01%TGC from 4 metres

o  ORNS-L1502, 10 metres at 11.00% TGC from surface and 12m @10.91%TGC from 13 metres

o  ORNS-L1602, 17 metres at 8.97% TGC from surface

o  ORNS-L1206, 3 metres at 12.43%TGC from surface

o  ORNS-L1204, 6 metres at 10.12% TGC from 3 metres

o  ORNS-L1202, 20 metres at 9.24% TGC from 4 metres

·    These results will strengthen the updated JORC Standard Mineral Resource Estimate and

Reserve determination for the Northern Syncline Lode scheduled for release in late February

Blencowe Resources Plc ("Blencowe Resources") (LSE: BRES) is pleased to announce exceptional high-grade drilling results which will help to strengthen the updated JORC Mineral Resource and Reserve Estimate update at its Orom-Cross graphite project in Uganda, scheduled for release by end February 2022.

The results highlight the quality of the Project's mineralisation and ultimately its ability to be one of the lowest cost producers of graphite concentrate internationally.

The drilling targeted mainly infill zones the weathered zone of the Northern Syncline deposit, and was planned so as to provide a basis for upgrades in Resource classification as well as extensions to existing high-grade oxide mineralisation. The spectacular near-surface intercepts confirm existing geological interpretations as well as grade continuity over the strike length of the Northern Syncline in a similar way to the recent Camp Lode results as recently announced.

The Northern Syncline deposit has been subjected to a diamond drill hole program on a 25 metre by 12.5 metre grid. The drilling was specifically designed to provide sufficient information to enable the classification upgrade of resources at the Northern Syncline deposit into the Measured and Indicated categories and enable an updated JORC Resource Estimate on the Northern Syncline.

All the holes to date have returned visible grade graphite over the majority of 30m of intersection, with weathering extending to within 5m of the base of the holes in most cases. This may present Blencowe with further high-grade ore for initial mining which could have significant advantages to both mining costs and product quality.  Subsequent logging by the Company's geologists has identified zones of large to jumbo flakes in the core.

The core has been assayed at SGS in Perth, Western Australia using the method C-IR18. The method is appropriate for understanding graphite deposits and is a total method.

Blencowe Resources continues to review the sample assays and QA/QC checks are expected to be completed shortly enabling the company to proceed to finalising the revised and upgraded Mineral Resource Estimate.

Executive Chairman Cameron Pearce commented;

"Our drilling campaign for 2021 has returned very positive high grade results for both the Northern Syncline and Camp Lode deposits, which will assist Blencowe to complete a revised JORC Resource Estimate in the next few weeks.  We are also pleased to see options emerging for higher grade early stage mining which will positively impact operational costs."

He added "We are largely completed in terms of drilling at Orom-Cross and we do not require any further major campaigns in order to commence mining ahead."

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Background

Orom-Cross Graphite Project

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger coarse flakes within the deposit. A 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 following extensive historical work on the deposit and Blencowe is moving into the studies phase shortly as it drives towards first production.

Orom-Cross presents as a large, shallow open-pitable deposit, with a maiden JORC Indicated & Inferred Mineral Resource deposit of 16.3Mt @ 6.0% Total Graphite Content. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.