Date: 17 August 2026                     

Blencowe Resources Plc

("Blencowe" or the "Company"),

Successful Development of Anti-Radar Coatings Opens Additional High Value Offtake Potential

Orom-Cross graphite advances into high-value defence applications with further offtake potential

Blencowe Resources Plc (LSE: BRES) is pleased to report an update on the progress of the ongoing application component testing utilising Orom-Cross graphite concentrates produced from its 100%-owned Orom-Cross Graphite Project in Uganda.

In July, Iain Wearing, the Company's COO, visited development and testing partner American Energy Technologies ("AETC") in Chicago for an update on several important programmes currently underway using Orom-Cross graphite products.

The latest work further demonstrates the potential for Orom-Cross graphite products to access specialist, high-value markets beyond conventional concentrate sales. This supports Blencowe's strategy to continually optimise its product and sales mix towards higher-value applications as the Project advances towards production.

Highlights

·      Orom-Cross graphite products being tested in advanced anti-radar / electromagnetic interference ("EMI") shielding applications for Unmanned Aerial Vehicles ("UAV") and other defence-related platforms

·      Blencowe currently engaged with three manufacturers of advanced aerial platforms in Europe

·      One potential offtake relationship now at an advanced commercial stage, subject to completion of ongoing flight testing and finalisation of documentation

·      Specialist ultra-fine M635 97% Total Graphitic Carbon ("TGC") material used in this application has indicative market pricing approaching US$20,000/tonne FOB manufacturing plant

·      Latest UAV and anti-radar coating programmes build on previous successful aerospace and rocket propulsion testing, demonstrating continued progression from technical validation towards commercial end-use adoption

·      Orom-Cross material currently being used in high-fidelity demonstration projects in real application environments

·      Further evidence of Blencowe's strategy to continually upgrade its sales mix towards higher-value graphite products and specialist Western markets

·      Existing non-binding offtake coverage already exceeds planned P1 production of 20,000tpa, while the Company continues to build the broader sales book required for P2 production

·      P1 funding discussions continue to advance in parallel, with the Company focused on securing the optimal project-level funding structure

Blencowe Resources is working with its development partners and several manufacturers of UAV technology platforms in Europe to develop formulations for EMI shielding coatings on top of advanced mobile aerial platforms.  This anti-radar pigment is very topical for drone manufacturing as well as other defence applications.

In addition to its superb electrical conductivity, testing indicates that Orom-Cross graphite exhibits preferential naturally occurring characteristics of particular relevance to reducing the electromagnetic signature on objects to which this graphite is applied. 

Experimental work has also demonstrated highly pronounced hydrophobic properties within natural crystalline flake graphite from Orom-Cross. These characteristics are beneficial for advanced aerial platforms applications where equipment may be exposed to fog, rain and other adverse atmospheric conditions.

Advanced Offtake Discussions

Blencowe Resources has engaged with three manufacturers of advanced aerial platforms, with one offtake relationship now at an advanced stage for application-ready dry powder pigment based on ultra-fine M635 97% TGC flake originating from Orom-Cross.

Commercial documentation is being progressed, with completion subject to final technical inputs and the outcome of ongoing flight testing.

Indicative market pricing for material used in this specialist application approaches US$20,000/tonne FOB manufacturing plant, demonstrating the potential value available from niche applications compared with conventional graphite concentrate sales.

Material from Orom-Cross is currently being used in high-fidelity demonstration projects in real application environments. The Company will update the market as this potential offtake progresses towards execution.

This opportunity represents the latest stage in a broader commercialisation pathway that has seen Orom-Cross graphite successfully tested across multiple aerospace, defence and advanced materials applications.

Offtake and Funding Strategy

Blencowe has already secured non-binding offtake coverage exceeding the planned 20,000tpa P1 Production volume and continues to optimise its sales portfolio as higher-value applications and counterparties emerge.

The Company's strategy is to progressively replace lower-value sales opportunities with higher-value product pathways where appropriate, while simultaneously building the broader offtake book required to support the planned 70,000tpa P2 Production target.

In parallel, P1 funding discussions continue to advance. The Company remains focused on securing a project-level funding structure that supports development of Orom-Cross while minimising dilution at plc level and will update the market when there is substantive progress suitable for announcement.

Separately, as previously referenced, the Company continues to advance discussions around a potentially strategically significant tier one offtake. This process is now well advanced, with final technical and commercial inputs being completed. The Company will provide a further update if and when appropriate.

Photo: Blencowe COO, Iain Wearing holding sample of dry-powder pigment prior to shipment

Executive Chairman Cameron Pearce commented:

"This latest work further demonstrates the quality and versatility of Orom-Cross graphite products and the value that can be captured by moving beyond conventional concentrate sales into specialist, higher-value applications.

Blencowe has already more than covered the 20,000tpa P1 Production volume through existing non-binding offtake agreements. Our strategy now is to continually optimise that sales portfolio as higher-value opportunities emerge, while at the same time building the broader offtake book required to support P2 Production.

This particular defence application is a good example. Our Orom-Cross graphite is already being used in real-world testing environments, and the potential offtake relationship has progressed to an advanced commercial stage, subject to completion of the remaining technical work and documentation.

Funding remains the key gatekeeper to first production and we continue to advance P1 funding discussions in parallel. Our focus remains on securing the right project-level structure for Orom-Cross, rather than simply the quickest capital available.

Western customers are increasingly seeking high-quality graphite products from non-Chinese sources to reduce geopolitical and supply-chain risk. We believe Orom-Cross is exceptionally well positioned for this shift, and the emergence of specialist opportunities such as these further strengthens the commercial case for the Project."

**ENDS**