Oscillate PLC

("Oscillate" or the "Company")

27 November 2025

Soil sampling results for the Duékoué Molybdenum-Copper Project

in Côte d`Ivoire indicate Anomalous Concentrations of Gold

Highlights 

·      Multiple soil samples with moderately anomalous concentrations of gold ("Au"), and one sample with moderately-high concentrations of Au at 45 parts per billion ("ppb")

·      The distribution of Au and its coincidence with elevated concentrations of other metals provide valuable insight into the possibility of the Duékoué Project having gold as part of its mineralisation system

·      The Company will now incorporate ongoing testing within its rigorous exploration programme to establish whether Duékoué could be confirmed as a copper-gold project in due course

News Announcement 

The Company is pleased to announce that the results of 187 soil samples resubmitted for analysis have confirmed the potential for gold to be a part of the mineralisation system of the Duékoué Project in Côte d`Ivoire.

CEO, Robin Birchall, commented: 

"I am delighted with these results and the analysis and interpretation, from a relatively small and early-stage exploration programme. We have demonstrated that with modern exploration techniques and analysis, we are already seeing indications for potential multi-commodity mineralisation systems at Duékoué. The purpose of testing the system for gold and the results we received was to establish whether or not going forwards we should continue to test for gold. This has been established by this test work and we will continue to apply our rigorous method in search of a copper-gold mineralised system."  

About the soil sampling analysis

Geochemical soil samples were collected at 20 metre intervals with only every other sample being submitted to ALS Laboratories. Samples were analysed using the Inductively Coupled Plasma ("ICP") analytical method and reporting of molybdenum ("Mo"), copper ("Cu"), lead ("Pb"), tungsten ("W"), zinc ("Zn") and barium ("Ba"), with the Mo-Cu results being the most critical. The results for this were announced on 24 September 2025.

Subsequently, the Company decided to resubmit 187 of the 204 soil samples for assays using the Atomic Absorption Spectroscopy method, also with ALS Laboratories. The results were interpreted using log-normalisation to define anomalism in the dataset, with up to 1-Standard deviation ("SD") above the mean, considered to be background, and all values more than 1-SD above the mean, to be anomalous.

A total of seven samples returned moderately anomalous Au concentrations (defined as concentrations of Au in soil of more than 2-SD above the mean of the log-normal dataset, being concentrations above 21 ppb for this dataset). One sample returned a concentration of 45 ppb Au, which is considered moderately-high for areas where Iron-Oxide Copper Gold ("IOCG") deposits are to be expected.

Important for the Duékoué Project is not only the absolute concentration of Au in soil, but also the relationship of Au concentration with that of the other metals, in specific Cu. Five of the seven samples with moderately anomalous Au values coincide with elevated Cu concentrations within the same sample. The table below shows the five soil samples with both moderately anomalous Au and elevated Cu concentrations.

The map below shows the location of the lines and concentrations of Au in soil as graduated symbols, as well as graphs for lines 1, 2, 4 and 5, showing the relationship between elevated Au and Cu in soil.

Even though the primary objective of the phase 1 soil sampling programme was to re-establish and geo-locate the historic soil anomalies (as announced on 24 September 2025), the results from these Au assays, albeit for only a small dataset, provide valuable information as to the possible mineralisation system that might be active at the Duékoué Project. The association of Cu and Au in soil samples is indicative of a possible IOCG setting. The Company will keep a close eye on this metal association moving forward with new exploration programmes.  

Duékoué Project Geology

The Duékoué Project is located on the West African Shield, mainly well-known for shear-hosted, orogenic lode gold deposits in both the Archean and Lower Proterozoic terranes. In general, the Proterozoic Birimian Terranes have been the more productive terrains. This style of gold mineralisation extends to the Birimian terranes in northern South America as well. To the north of the West African Shield, similar-aged rocks and gold deposits are present in Mauritania and Western Sahara.

The Directors of the Company accept responsibility for the contents of this announcement. 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. 

Enquiries: 

About Serval Resources 

Serval Resources is focused on unlocking value across a high-potential portfolio to become a leading mid-cap copper and future metals explorer and developer.  

By securing exploration and development assets in the upcoming copper belts of Namibia, Botswana and Côte d'Ivoire, the Company will be strategically positioned to capitalise on the rising demand for sustainable copper and associated metals, driven by the global energy transition and the need for responsible, independent supply chains.  

These regions remain relatively under-explored in contrast to their high potential. Serval will look to apply modern and rigorous exploration techniques, as well as the depth of experience of its management team, in order to systematically evaluate, secure  and develop  prospective opportunities to the benefit of all its stakeholders. 

Serval Resources is a brand operated by Oscillate PLC, which is listed on the UK's AQSE Growth Market Exchange under the ticker AQSE: SRVL.  The Company will officially change its name to Serval Resources upon moving up to AIM, expected in Q1 2026.