Date: 18 December 2025                              

Blencowe Resources Plc

("Blencowe" or the "Company"),

Further Strong Deep-Hole Results at Iyan Confirm Major New Deposit at Orom-Cross

Final Deep hole results at Iyan validates long, continuous intersections demonstrated at first hole

Blencowe Resources Plc (LSE: BRES) is pleased to report the remaining deep-hole assay results from the newly identified Iyan Deposit, located immediately adjacent to the Northern Syncline at the Orom-Cross graphite project in Northern Uganda.

Following Iyan's exceptional debut hole (L909B), assays from two further deep holes L908B and L910B confirm continuous, thick graphite mineralisation from or near surface to ~100 metres, with all deep holes ending in graphite. This indicates a robust, open system with clear multi-decade production potential, extending well beyond the initial 15-year mine life defined in the DFS.

Highlights

·    Remaining deep holes at Iyan deliver thick, continuous graphite from surface to ~100m, with all holes ending in mineralisation.

·    Results strongly support multi-decade production potential, far beyond current 15-year DFS mine life.

·    Iyan confirmed as a major new deposit, not included in the current Orom-Cross JORC Resource.

·    High-grade internal zones up to 13.9% TGC strengthen overall grade and development quality.

·    First deep-hole assays from Beehive, the second new deposit identified in Stage 7, are expected by Christmas, with first Iyan shallow and step-out assays expected early into the New Year.

·    186 remaining shallow and step-out assays from both Iyan and Beehive prospects are pending, and these will underpin a JORC Resource upgrade in early 2026.

Iyan is a major new deposit adjacent to existing mineable deposit at Northern Syncline and not included in our recent JORC Resource reported in November 2025. Iyan will be included in the forthcoming 2026 JORC resource upgrade. 74 holes of the remaining 186 shallow and step-out holes completed in Stage 7 were drilled at Iyan, and these assays will help define further near-surface tonnage required to expand life of mine and project scale.

Assays from the three deep holes at the Beehive Deposit, the second newly identified mineralised zone in this programme, are expected shortly.

Iyan Deep Holes: L908B and L910B Confirm Continuity and High-Grade Zones

Hole L908B (Iyan):

·      12.05m (TW) @ 5.61% TGC from surface to 16.63m,

including 2m @ 9.56% TGC and 3m @ 11.55%TGC

·      54.50m (TW) @ 4.54% TGC from 46.1m to 118m,

including 5m @7.89%TGC and 6m @7.34%TGC (higher-grade internal zones)

These long mineralised intervals demonstrates both scale and grade consistency at depth, with multiple high-grade internal zones. The thickness and continuity closely match the structural trends observed within the Northern Syncline, reinforcing Iyan as its western extension.

Hole L910B (Iyan):

·      14.27m @ 4.22% TGC from 19.46-38.07m,

including 6m @ 6.97%TGC and 2m @ 8.57%TGC

·      16.15m (TW) @ 5.56% TGC from 99.98m to end-of-hole,

including 2m @ 13.92% TGC and 3.6m @ 9.74%TGC

The presence of repeated high-grade internal zones, including a standout 2m @ 13.92% TGC,  highlights the high quality of the Iyan mineralisation. As with the other Iyan deep holes, L910B ended in graphite, confirming that the system remains open at depth and extends beyond current drilling limits.

Executive Chairman Cameron Pearce commented:

"These follow-up deep-holes confirm Iyan as a major new graphite deposit alongside Northern Syncline, with continuous mineralisation to ~100 metres and every hole ending in graphite. This points clearly to multi-decade production potential which is a key message in ongoing discussions with strategic groups seeking secure long-term supply.

The presence of high-grade zones, including 2m at 13.92% TGC, underlines the quality of this discovery. Iyan sits within our 21-year Mining Licence and close to the proposed plant site, making it a strategically located addition to our development pipeline.

With more than 180 shallow and step-out holes still being processed, we anticipate significant newsflow ahead and remain confident of a material resource upgrade in early 2026.

The Beehive deep holes are next in line, and we are hopeful they will mirror the exceptional continuity and grade seen at Iyan. Orom-Cross is fast emerging as one of the most significant long-life graphite projects globally, and these results further enhance engagement with strategic groups focused on multi-decade supply security."

**ENDS**

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Map 1: Showing the 4x Orom-Cross deposits, including Camp Lode, Northern Syncline, and new Iyan (NS western limb) and Beehive (GT 01a) deposits.