Graphite Outcrops Across 25km of Strike

26 October 2026

Blencowe Resources Plc

("Blencowe" or the "Company")

Graphite Found at Surface Across c.25km of Strike at Orom-Cross, with +20% TGC at Three Targets

Blencowe Resources Plc (LSE: BRES) is pleased to report that it has completed a second phase exploration programme over identified geophysical targets situated immediately north and south of its existing deposits at the Orom-Cross graphite project in northern Uganda. Graphite was found outcropping at surface across the targets tested, along some 25 kilometres of strike, all within the Company's own lease areas. Grab samples from three of those targets returned high grade results above 20% TGC.

Iain Wearing, Interim Chief Executive Officer, commented:

"A picture tells a thousand words. The map below is the clearest statement of scale we have published.

The blue line is 25 kilometres of strike, and all of it sits inside our own leases. This follow-up exploration programme confirms the potential of Orom-Cross as a major graphite region with the potential for continuous mineralisation over some 25km. To date every geophysical target identified has been marked with significant surface outcropping of graphite. This points clearly to multi-decade production potential, a key and constant message in the ongoing discussions with strategic groups seeking secure long-term supply.

The presence of potential high-grade zones throughout underlines the quality of this project. All areas sit within 10km of the proposed plant site, making it a strategically located addition to our development pipeline.

We anticipate significant newsflow ahead and remain confident of Orom-Cross 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."

Map 1: Orom-Cross deposits, including Camp Lode, Northern Syncline, Iyan (NS western limb) and Beehive, with mapping points on additional geophysical targets across the c.25km project trend.

How to Read the Map

The blue line: runs for approximately 25 kilometres. It is the interpreted graphite trend through the project.

The grey bodies: are the four deposits already drilled and carried through to Definitive Feasibility Study: Camp Lode, Northern Syncline, Iyan and Beehive. These also carry GT identifiers on the map, as each began as a geophysical target.

The outlined shapes: are the additional geophysical targets tested in this programme. These were identified by earlier survey work and have now been mapped, and in places sampled, on the ground for the first time.

The gold areas: mark where grab samples returned more than 20% TGC, at GT-02b, GT-03b and GT-04.

The small white dots: are mapping points, where the team walked and logged the geology. They cover approximately 95% of the identified targets. Grab samples were taken only from selected areas within them.

The red boundaries: are the Company's exploration licences. Every target shown sits inside ground Blencowe already holds.

The pink boundary: is the current Mining Licence, granted by the Ugandan Government for 21 years in 2019.

Highlights

·    7 geophysical targets identified in previous exploration programmes tested through surface mapping and sampling.

·    Several of the targets revealed extensive areas of surface outcrops similar to the current 4 deposits drilled by the Company.

·    Grab sampling of surface outcrops in GT-02b, GT-03b and GT-04 returned +20% TGC from several areas within the targets.

·    Potential for further deposits over the full c.25km strike within Company held leases.

·    The results are initially supportive of the identified project potential for 2-3 billion tonnes of graphite mineralisation.

The Second Phase Exploration Programme

Following the exceptional results from the exploratory drilling at the Iyan and Beehive deposits, the Company commissioned surface mapping and sampling of the remaining geophysical targets in September. This is the second phase of works, following geophysical survey, in the measured approach used successfully to bring the Northern Syncline and Camp Lode deposits through to DFS status.

This programme was preliminary work to establish whether the targets have the potential to host orebodies. Surface mapping covered approximately 95% of the identified geophysical targets. The result across all mapped targets was positive, based on surface outcropping and indicative soil characteristics.

The works identified extensive surface outcropping in several of the targets, and cover soils representative of the cover over the four drilled deposits. Grab samples were taken selectively from areas indicating high-grade potential, rather than across the full mapped area. Of these, GT-02b, GT-03b and GT-04 returned above 20% TGC.

Both GT-04 and GT-03b lie fully within the exploration licences currently held by the Company. The majority of GT-02b lies within the current Mining Licence, with a portion in the Company's exploration licences.

Photographs of surface outcrops mapped at the targets are included in the Appendix to this announcement.

Significance for Project Scale

The Definitive Feasibility Study published in December 2025 is built on an initial 15-year mine life drawn from the four deposits drilled to date. This programme indicates graphite at surface along the full c.25km trend, across targets that sit outside that mine plan entirely.

For strategic partners seeking security of supply, the length of that tail is central, and it has been one of the principal subjects of the Company's current discussions.

The Company's immediate focus remains securing Phase 1 project funding. Early-stage work on the wider targets will continue through the measured, staged approach applied to the existing deposits, and further updates will be provided as appropriate.

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 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 has recently completed the Definitive Feasibility Study phase as it drives towards first production.

Orom-Cross presents as a large, shallow open-pitable deposit, with a JORC Measured, Indicated and Inferred Mineral Resource of 64.3Mt @ 6.03% TGC and a Mineral Reserve of 23.08Mt at 5.18% TGC (Total Graphite Content). Resources and Reserves are reported separately and should not be added together. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.

Competent Person Statement

The information in this announcement that relates to Exploration Results is based on information compiled and reviewed by Mr Iain Wearing, AusIMM, Interim Chief Executive Officer of the Company. Mr Wearing has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the JORC Code (2012). Mr Wearing was the Competent Person for the Ore Reserve estimation reported on 30 November 2025. Mr Wearing consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

Appendix: Surface Outcrop Photographs

Figure 1: Example of surface outcrop mapped at the GT-04 target

Figures 2 to 8: Surface outcrops mapped in targets GT-02b, GT-02a, GT-03b, GT-03a and GT-06

**ENDS**

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