Unicorn Mineral Resources Plc

("Unicorn", or "the Company")

23 January 2026

Results of 3D Gravity Modelling at Lisheen Licence

Unicorn Mineral Resources Plc, (LSE: UMR), is today pleased to announce the encouraging conclusions of the recently completed 3D modelling of the results from last year's gravity survey at the Company's Lisheen Project.  The modelling shows a series of interesting anomalies that are untested by historic drilling and lie close to the Galmoy Zinc mine, which is currently in the process of being re-opened by Shannon Resources.

Unicorn's Lisheen Project consists of two contiguous prospecting licences (PL754 and PL4056) located along the highly prospective Rathdowney Trend immediately north of the Lisheen and Galmoy deposits, occupying a strategic location immediately along strike and up dip from both of these deposits. The licences are underlain by well developed and regional dolomitised Waulsortian Reef (the main ore host rock in the Irish Midlands Orefield) that dips gently to the south. The area is cross-cut by Caledonian faults orientated ENE-WSW and NW-SE. Extensions of the main controlling fault systems at both the Lisheen and Galmoy deposits can be traced onto these licences.

The Unicorn Lisheen Project is in a highly prospective region with the historic Lisheen and Galmoy mines producing approximately 22Mt of 12% Zn / 2 % Pb and 9Mt of 13.5% Zn / 2% Pb respectively.  Shanoon Resources is in the process of reopening the Galmoy mine, expected in H1 2026. Minco Ireland have an exciting project at Rapla, c.6km to the east and, in late 2025, Minco announced an intersection of 16.5m, grading 10.99% Zn / 3.12% Pb, 1.39% Cu and 294g/t Ag.

Map showing the Company's two licences) covering 71km² and their position relative to the work under way at Galmoy and Rapla, as well as the old mining at Lisheen.

80% of the Block is underlain by Prospective Waulsortian Reef.

Target is base of Waulsortian Reef Hosted, Stratiform, Massive Sulphide deposits.

Depth to target ranges from 0 to 300m.

 

The unconstrained density model derived from the inverted gravity data indicates a series of density anomalies on a NW-SE axis (purple line) on PL754 which parallel the K Zone trend at Galmoy.  In addition, there are four zones along the West - East Section that show a clearly anomalous density responses at depth that is untested by historic drilling.

The surveys to the south of PL754 are on a nominal 100m by 100m grid, whereas those to the north of PL754 and in PL4056 are on a nominal 200m by 200m grid spacing, and hence are not as well constrained.  The next step will be to conduct some infill surveying on a nominal 100m by 100m grid with a view to then carrying out some test drilling on the most interesting targets in PL754.

Commenting on the results of the modelling, Paddy Doherty, Chairman, said:

"Zinc is a critical metal and, sitting between two old zinc mines, Unicorn's Lisheen licences have always had the potential to be very exciting.  The re-opening of the Galmoy mine next door to Unicorn's block, provides us with a great opportunity that is now further underpinned by the interesting anomalies, which are untested by drilling, identified by the modelling using the recent gravity survey work.  Further encouragement is gained by the drilling that is being carried out further to the east by Minco. 

Zinc / lead exploration in the Irish Midlands Orefield continues to discover new mineralised zones. In addition to Minco Irelands Rapla discovery, Group Eleven has recently drilled a 29.9m intersection of 15.3% Zn+Pb, 552 g/t Ag and 0.67% Cu at Ballywire, just 8km along strike from our Kilmallock licences.

Whilst further survey work needs to be carried out before we commit to drilling expenditure, we continue to be confident in the value of our Irish operations and it is greatly encouraging that third party operations that are contiguous to both our Lisheen and Kilmallock properties are showing such good promise."

Competent Person Statement

The information in this release that relates to exploration results is based upon information reviewed, assessed and compiled by EurGeol Dave Blaney, B.Sc., M.Sc., P.Geo. who is a Professional Geologist accredited by the Institute of Geologists of Ireland. Mr Blaney is a Director, COO and shareholder of Unicorn Mineral Resources Plc. Mr Blaney has sufficient relevant experience with the style of mineralisation and types of deposit under consideration and to the activity which has been undertaken, to qualify as a Competent Person as defined by the Pan-European Standard for Reporting of Exploration Results, Mineral Resources and Reserves (The PERC Reporting Standard).

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).

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