06 March 2026                  

Blencowe Resources Plc

("Blencowe" or the "Company"),

Maiden 16.9 Mt JORC Mineral Resource for Iyan Deposit

Total Orom-Cross Mineral Resources increase 66% to 43.0 Mt and expands growth runway

Blencowe Resources Plc (LSE: BRES) is pleased to report the completion of a maiden JORC (2012) Mineral Resource Estimate Statement for the recently discovered Iyan deposit, part of the Company's 100% owned Orom-Cross Graphite Project in Uganda.

The maiden Iyan JORC incorporates assay results from the 87 shallow drill holes completed to date with an Inferred Mineral Resource of 16.9 Mt @ 6.0% TGC, confirming Iyan as a high-tonnage, near-surface extension of the wider Northern Syncline graphite system. The addition of Iyan materially increases the overall Orom-Cross Mineral Resource base and further demonstrates Orom-Cross as a multi-deposit, long-life, large-scale graphite development.

Highlights:

Iyan JORC Resource Orom-Cross 2026 Mineral Resource update;

·    Maiden Iyan Mineral Resource: 16.9 Mt @ 6.0% TGC (Inferred) at a 3.5% TGC cut-off

·    Total Orom-Cross revised JORC Mineral Resource (2026 update): 43.0 Mt @ 5.76% TGC (Measured + Indicated + Inferred) @ 3.5%TGC cut-off

o  Measured Resource: 1.20 Mt @ 5.13% TGC

o  Indicated Resource: 16.41 Mt @ 5.7% TGC

o  Inferred Resource: 25.40 Mt @ 5.82% TGC

Notes:

·    66% uplift in JORC Resource:

·    Open for growth: mineralisation remains open along strike and at depth at Iyan, with multiple holes ending in mineralisation

·    Beehive next: assays results are now being received for the other discovery, and these results will be incorporated into a future further JORC update

·    Funding advancing: the increased scale and deposit pipeline support ongoing strategic and funding discussions as the Company progresses development planning

Table 1: Orom-Cross Mineral Resource Summary by Deposit (reported; JORC 2012; 3.5% TGC cut-off).

Northern Syncline + Camp Lode + Iyan = 43.0 Mt.

*Totals subject to rounding. Beehive is not included in the reported Mineral Resource total; a Beehive Mineral Resource will be reported once drilling results have been received and modelled.

Iyan Deposit Block model: 

Block model of the Iyan Deposit. Mineralisation remains open along strike and at depth; multiple drill holes end in mineralisation.

Ore Reserves remain unchanged and are presented separately below.

Table 2: Orom-Cross Ore Reserve Summary (unchanged, JORC 2012)
Northern Syncline + Camp Lode only.

Ore Reserves are a subset of Mineral Resources and are not additive to the Mineral Resource total. The Iyan Deposit is currently reported as a maiden Mineral Resource only and has not yet been converted to Ore Reserve.  Further infill drilling is required to bring a portion of Iyan Resources into Reserves.

Key Results and Significance of the JORC Resource Upgrade

·    Step-change in Size and Scale: maiden Iyan MRE lifts total Orom-Cross JORC Mineral Resources to 43.0 Mt, strengthening project scale and development optionality

·    Confidence + Mineability: strong continuity over ~2.2 km strike; shallow drilling supports open-pit potential and a low strip ratio

·    Metallurgy aligned: consistent with prior testwork, supporting current processing assumptions

Exceptional growth runway remains

·    Beehive and step-outs: additional drilling results are being received and will be incorporated into future updates, providing scope for further Mineral Resource growth

·    Depth upside: deeper drilling has confirmed mineralisation to over 100 metres in all deep holes drilled to date at both Iyan and Beehive, indicating vertical expansion potential

·    Licence largely untested: only ~2% of the licence area has been drill tested to date

Blencowe CEO, Mike Ralston, interviewed with Vox Markets on this JORC upgrade and other current matters and the link is highlighted below:

http://www.voxmarkets.com/articles/q-a-with-blencowe-resources-ceo-mike-ralston-44f77bf

Blencowe Resources Executive Chairman, Cameron Pearce commented:

"Today's maiden Iyan JORC Mineral Resource is a major step forward for Orom-Cross. It defines 16.9 million tonnes at 6.0% TGC adding near-surface tonnes with strong continuity, and lifts total JORC Mineral Resources by 66% to 43.0 million tonnes across Northern Syncline, Camp Lode and Iyan deposits.

This increased scale and the growing deposit pipeline support our ongoing strategic and funding discussions as we progress development planning.

Importantly, we are not done. Mineralisation remains open along strike and at depth, and Beehive results are now coming through, which we expect to incorporate into a future JORC update."

Competent Person's Statement

The information in this release, which is related to Mineral Resource estimation, was compiled under the supervision of Mr Oscar Van Antwerpen who is the CEO of Minrom Consulting (Pty) Ltd; he is Member of the Geological Society of South Africa (GSSA) and a Registered Professional Natural Scientist (Pr.Sci.Nat) with the South African Council for Natural Scientific Professions (SACNASP).

Mr Oscar Van Antwerpen 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 (2012) Code. Mr Oscar Van Antwerpen consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Appendix

(Minrom tables and figures)

·      GC - Graphitic carbon, TC - Total carbon.                  

·      No geological losses applied.

·      A conservative cut-off grade of 3.5% GC has been applied based on metallurgical testing & preliminary mining parameters.

·      Mineralised tonnes have been rounded off and contained graphite tonnages have been rounded off to the nearest 1000 (Kt).

·      Contained graphite has been reported without the application of cut-off grades, loss factors, or beneficiation yields.

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

**ENDS**

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