/Equities/AQSG/SRVL/Announcement

Serval Resources commences 2026 Exploration Programme in the Kalahari Copper Belt

Disseminated via PRN on 27 February 2026

Oscillate PLC

("Oscillate" or the "Company")

27 February 2026

Serval Resources commences 2026 Exploration Programme

in the Kalahari Copper Belt

Highlights

First field work programme underway on Licence PL061/2021 (“PL061”) to detect and better spatially define the presence of regionally mapped Ngwako Pan and D’Kar Formation contact
Work is complementary to the Q4 2025 geophysical programme conducted on PL082/2020 (“PL082”), with both licences being along strike of Cobre Limited’s (“Cobre”) Ngami Project
Programme forms part of the initial investigation together with other geophysics techniques and/or soil sampling required to ultimately define drill targets

The Company is pleased to announce that it has, with approval from Kalahari Copper Limited (“KCL”), commenced its first exploration work programme for 2026 on KCL’s Botswana assets in the Kalahari Copper Belt (“KCB”), which is considered one of the most prospective areas in the world for new sedimentary copper discoveries (source: US Geological Survey). PL061 is held by Dalsu Investment Proprietary Limited, a wholly owned subsidiary of KCL (“Dalsu”). As announced on 9 February 2026, the Company has entered into a conditional share purchase agreement to acquire all the shares in KCL (“Acquisition”).

This programme will incorporate a ground magnetic geophysical survey on Licence PL061 to evaluate the regionally mapped Ngwako Pan (oxidised sandstone) and D’Kar Formation (reduced shale) contact, being the primary reduction-oxidation (“Redox”)-controlled target for significant sediment-hosted copper-silver mineralisation in the KCB.

This ties in with the Q4 2025 geophysical programme conducted on PL082 with approval from KCL, with both PL061 and PL082 being located along strike of Cobre’s Ngami Project – see Figure 1 below. The results of the PL082 geophysical programme will be released as soon as available. PL082 is also held by Dalsu.

CEO, Robin Birchall, commented :

"I am delighted to report that our first work programme with KCL in the KCB is underway, and I commend the field team's swift mobilisation and their continued engagement with authorities and the local representative of the areas in which we operate.

PL061 and PL082 are both high priority targets given their location on strike to Cobre’s Ngami project, which is a significant and growing deposit that has been delineated using a combination of geophysical techniques and fieldwork, followed by extensive drilling, which is a model we aim to follow at the KCL licences.”

About the work programme:

The ground magnetic geophysical survey can identify magnetic intensity with high resolution in order to recognise underground geological features, which will assist the Company in better spatially defining the presence of the regionally mapped Ngwako Pan and D’Kar Formation contact.

Clearing of lines is currently underway on PL061, which will be followed with surveying using a GSM19-magnetometer. The planned field work will cover a total of ca. 62-line kilometres and will continue till the middle of March 2026, with the processed data, interpretation and reporting of results expected in Q3 2026.

Figure 1: location of exploration licences in the KCB:

A map of a mining areaAI-generated content may be incorrect.

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

Enquiries:

Oscillate Plc/Serval Resources	Company	Robin Birchall	+ 44 (0) 7711 313 019 [email protected]
	IR	Cathy Malins	+44 (0) 7876 796 629 [email protected]
Tavistock Communications	PR	Charles Vivian Eliza Logan	+44 (0) 20 7920 3150
AlbR Capital Limited	Aquis Corporate Adviser	Guy Miller	+44 (0) 20 7469 0930
SP Angel	Broker	Richard Morrision Charlie Bouverat Devik Mehta	+44 (0) 20 3470 0470

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.

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 in 2026.