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Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining

6 August 2025

Kodal Minerals plc

("Kodal Minerals", "Kodal" or the "Company")

Bougouni Lithium Project Update

Mali Minister of Mines and Bougouni Governor Visit Bougouni Project

Kodal Minerals, the mineral exploration and development company, provides an update on progress at the open pit mining and Stage 1 Dense Media Separation ("DMS") processing plant at the Bougouni Lithium Project ("Bougouni" or the "Project") in Southern Mali. The Project is operated by the local Mali registered mining company, Les Mines de Lithium de Bougouni SA ("LMLB") (a subsidiary of Kodal Mining UK Limited ("KMUK"), in which Kodal has a 49 per cent. shareholding.

The Company also notes the recent site visit by the Mali Minister of Mines, Professor Amadou Keita, and the Governor of the Bougouni Region, General Ousmane Wele.

Highlights:

·      DMS processing plant continuing to process pegmatite ore and improvements to the DMS processing plant are ongoing.

·      Spodumene concentrate production currently exceeds 45,000 tonnes of product available for export.

·      Open-pit mining is continuing at Ngoualana. However, access to the lower levels of the open pit is restricted due to heavy rainfall typical of the wet season, and excess water in the pit.  Mining is continuing with the removal of free-dig material to final pit boundaries.

·      Mineralised pegmatite ore on the run-of-mine stockpile ensures that the DMS processing plant continues to operate.  The LMLB operation team is planning a shut down and maintenance period commencing late August to complete a final systematic check of the plant and complete improvements.

·      Mali Minister of Mines and Bougouni Regional Governor completed a successful site visit to the Bougouni operations last week - with positive feedback provided by the Minister.

·      The Bougouni team emphasised to the delegation the need for the export permit to be issued as soon as possible and demonstrated the significant volume of spodumene concentrate product available for immediate shipment.

·      The Project team continues site preparations for first export and are liaising with the ports of Abidjan and San Pedro in Côte d'Ivoire to ensure readiness for first shipment.

Bernard Aylward, CEO of Kodal Minerals, remarked: "I am pleased to confirm that the LMLB team are continuing to work closely with the government of Mali to finalise the requirements for an export permit. Once granted, the export permit will allow, inter alia, the transportation of the large stockpiles of spodumene concentrate to ports for shipment to China. The recent visit by the Malian Minister of Mines, Professor Amadou Keita, and the Governor of the Bougouni region, General Ousmane Wele, was received positively and highlighted the team's excellent work to reach this stage. During the visit, the LMLB team highlighted the large volumes of spodumene concentrate stored at the site along with the risk of running out of storage space. The LMLB team also emphasised the need for the Project to expedite exports, which was noted by the delegation."

"Positively, the DMS processing plant continues to operate well, and the team has continued the training and development of the local Mali workforce for the various operating shifts, highlighting the Project's ongoing adherence to the local content legislative requirements and strong support of the local region in which we operate."

"The open-pit mining at Ngoualana has been impacted by the wet weather, with the lower levels of the pit unable to be accessed due to excess water. Pumping is ongoing and access is expected to be restored, and mining continues with the removal of overburden and weathered material to the final pit outline.  Mining operations have also been impacted by delays in the delivery of explosives to the site, which was highlighted during the recent ministerial visit, and is expected to be remedied soon to minimise delays."

For further information, please visit www.kodalminerals.com or contact the following: