31 January 2023

Kendrick Resources Plc
("Kendrick" or the "Company")

Commencement of Espedalen Drill Programme

and appointment of Director

Kendrick Resources Plc (LSE: KEN), the mineral exploration and development company with nickel, vanadium and copper projects in Norway, Sweden and Finland is pleased to inform shareholders of;

·    the commencement of a maiden diamond drill programme at the Espedalen nickel project in central southern Norway and

·    the appointment of Martyn Churchouse as Managing Director of the Company with immediate effect and the addition to the Company's exploration team of Vassilios Carellas as Operations Director and Edine Bakker as Exploration Manager.

Highlights

·    Drilling of 17 drill holes for approximately 1,700m four holes completed with visible sulphite mineralisation observed on three of the holes. 

·    Drilling will focus on the Stormyra ore body that currently contains a JORC (2012) Inferred Mineral Resource of 1.16Mt @ 1% Ni, 0.42% Cu and 0.04% Co

·    A public meeting was held with the Local Community in January to brief them on the Company's upcoming exploratory activities

·    Completion of the recently commissioned geophysical review for the Espedalen project area identified a potential southerly extension to the Stormyra ore body that is to be followed up with a confirmatory ground-based electromagnetic survey

·    Martyn Churchhouse is a Geologist and consultant with over 40 years of experience working in the mining industry and will lead the Company's exploration activities in Scandinavia

Colin Bird, Executive Chairman of Kendrick Resources Plc, commented:

"We are very pleased to announce the commencement of drilling in Norway and to welcome Martyn Churchouse as a director of the company and Vassilios and Edine to our exploration team and the three of them will be working on all aspects of the Company's exploration program, including designing, permitting, and coordinating of all key activities required to advance the Company's portfolio of early-stage and advanced exploration projects.

Scheduling of exploration in Norway is predicated by the need to comply with local legislation aimed at minimising any impact on the environment. For this reason drilling at Espedalen is largely confined to mid-winter when frozen ground improves access for plant and equipment and avoids potential damage to soil cover and vegetation.

A review of historic geophysical data by an external consultant highlighted that a historic helicopter EM survey showed an increase in bedrock conductivities to the southeast of Stormyra that are to be followed up with a ground based EM survey to firm up on its extents.

A public meeting was held at the Heimly Assembly Hall in Svatsum on the 11 January 2023. The meeting, which was also live-streamed, was well attended providing information about the Company and its upcoming exploratory activities to a large number of people, both locally and nationally."

Appointment of Martyn Churchouse:

Martyn Churchhouse is a Geologist and consultant with over 40 years experience working in the mining industry. He graduated from the University of London with a BSc in Geology and also has a MSc in Mining & Exploration from the Camborne School of Mines. Martyn has had experience as a board director and founder of many AIM listed mining and resource companies. Since the beginning of 2022 Martyn has been a consultant to an exploration company with oversight of exploration and mine development programmes covering multiple targets and resources on the African sub-continent.

The following information is disclosed about Mr. Martyn Churchouse:

Exploration Team

Vassilios Carellas has been appointed as operation director and is a natural resources professional with over twenty-five years of corporate and operations experience in the mining and exploration industry. Corporate experience includes the executive management and financing of publicly listed exploration and development companies, while operating experience gained in the general management of producing mines, mining operations and exploration activities.

Vassilios is currently the COO for AIM listed Arc Minerals Ltd which is actively exploring for copper and cobalt in Zambia and Botswana as well as on the board of an Ivory Coast focused lithium exploration company Firering Strategic Minerals. 

Edine Bakker is a geologist with a decade's experience in mineral exploration, covering multiple commodities across the European continent, as well as extensive experience in both greenfield and near-mine exploration programmes. Edine holds a Bachelor of Science degree in Geology from Vrije Universiteit Amsterdam, as well as a Master of Science (MSc) degree in Economic Geology from Eidgenössische Technische Hochschule Zürich.

Edine commenced her professional career in exploration in central and south-eastern Europe, before moving to Sweden. She has worked in all the prolific mining districts in Sweden, having held geologist positions with Boliden and Mandalay Resources. Most recently she held the position of exploration manager for Gold Line Resources managing a portfolio of assets in Fennoscandia.

In addition to her hands-on field experience, Edine has done project management for several multi million-dollar international applied research projects developing innovative exploration and mining technology. Edine has also held the reputable position of Geologist for the Economic Geology Unit, for the Mineral Resources department at the Geological Survey of Sweden. She has working proficiency in the English, Swedish, Dutch, and German languages.

Further information on the Company's projects can be found on the Company's website at: https://www.kendrickresources.com/   

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

Qualified Person:

The technical information contained in this announcement has been reviewed, verified, and approved by Colin Bird, CC.ENG, FIMMM, South African and UK Certified Mine Manager and Director of African Pioneer plc, with more than 40 years' experience mainly in hard rock mining.

About Kendrick Resources Plc

Kendrick Resources Plc is a mineral exploration and development company with projects primarily based across Scandinavia. The principal of its business is to explore the opportunities within the natural resources sector with a focus on battery, base, and precious metals including but not limited to nickel, vanadium and copper. In doing so, the Company is looking to build a long-term energy metals business in Scandinavia which delivers energy metals to Europe to help enable its renewable energy transformation by building a top tier energy metals production business.