26 January 2026

Unicorn Mineral Resources Plc

("Unicorn", or "the Company")

Update on metallurgical testing at Klein Aub

Unicorn Mineral Resources Plc, (LSE: UMR), is today pleased to announce positive results from the preliminary metallurgical testing of the samples from the Klein Aub Copper Mine, located in Namibia.  As previously noted, the metallurgy of the slimes and tailings is complex, with high concentrations of carbonates that render any acid leaching uneconomic.  Instead, the Company has been investigating the use of glycine to extract the copper in association with Draslovka (www.draslovka.com), a world leader in glycine leaching technology. 

The preliminary tests showed an initial recovery rate for the copper of between 60-70% from the slimes and 35-45% from the tailings.  Work will now be undertaken to optimise the reagent with aim of increasing the recoveries to enhance the economic value of the copper that may be extracted.  In addition and given the significant increase in the silver price in recent months, the Company will investigate the possibility of using a dual leaching process to extract the silver alongside the copper.

Historic drilling and assay work completed since 2020 has indicated a potential deposit of 5,587,000 tonnes of ore contained in the historic tailings and slimes dam at the Klein Aub Mine and with a potential total in situ metal content of up to 15,460 tonnes of copper and 1.4 million ounces of silver.  This in situ metal content is in addition to the several identified unmined parallel lodes extending along strike to the northeast to the former underground mine workings.

Encouraged by the initial testing, the Company will now commence work on the legal documentation for the transaction with the aim of completing the transaction and securing a 75% interest in the Klein Aub Copper Mine by April 2026.

Commenting on the initial tests, Paddy Doherty, Chairman, said:

"The potential value of the in-situ metal at Klein Aub has been clear from the initial due diligence by Unicorn.  The issue has been how to extract it economically.  We are delighted to now be working with a team of experts in environmentally friendly glycine extraction technology from Draslovka, which looks to be the key to unlocking the value at Klein Aub."

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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