Zanaga Launches Bulk Sampling

15 September 2026

Zanaga Iron Ore Company Limited

("ZIOC" or the "Company")

Zanaga Launches Bulk Sampling - Next Step Towards a Final Investment and Construction Decision

Zanaga Iron Ore Company Limited ("ZIOC" or the "Company") is pleased to provide an update on the bulk sampling programme ("Programme") at its Zanaga Iron Ore Project ("Zanaga" or the "Project") in the Republic of Congo ("RoC").

As part of the Programme, approximately 30,000 tonnes of ore is being extracted to assemble 100 tonnes of composite sample of the hematite zone targeted for Stage 1's 12Mtpa operations. This 100 tonne sample will be sent for subsequent metallurgical testing in order to conduct pilot scale test work to confirm Zanaga's revised DRI[1] processing flowsheet at a larger scale, and provide adequate quantities of concentrates for specification characterisation, process engineering design, and product testing with steel mill customers, independent laboratories and offtakers.

This Programme marks the first major equipment mobilisation at the Project site since 2014, and is an important activity towards completing the FEED programme and progressing to a Final Investment Decision (FID) and full project construction.

Highlights

·      Mobilisation of equipment and personnel commenced in July 2026, involving a prominent RoC-based civil earthworks contractor, following deployment of proceeds from the Company's May 2026 equity raise.

·      Excavation continues in accordance with the required environmental and mining permits, following the mandated RoC state and community consultation processes.

·      Composite samples from the principal hematite ore types will provide an advanced view of process feed for the first 5-10 years of Stage 1 operations.

·      The samples will support metallurgical test work and pilot-scale validation of Zanaga's revised DRI processing flowsheet, including concentrate specification characterisation and customer testing.

·      The bulk sampling programme is critical to enabling a large scale pilot test work programme to be completed:

o  Establishes appropriate crushing, grinding and screening configuration for the proposed Stage 1 processing plant.

o  Enables large scale product testing to be launched with steel mill customers and independent laboratories and offtakers.

Importance of the Bulk Sampling Programme in Republic of Congo

The bulk sampling programme comprises site preparation, excavation, sample extraction and compositing, and comprehensive material characterisation. Successful permitting consultations were completed with stakeholder Ministries, Prefecture, Project communities and traditional custodians, in accordance with the appropriate permits granted by the respective RoC Ministries of Environment and Mining Industries and Geology.

Expected Outputs

The bulk sampling and associated metallurgical test programme are expected to support:

·      a revised Stage 1 base-case processing flowsheet targeting a DRI-specification product;

·      definition of primary and secondary process equipment;

·      updated mass, energy and water balances; and

·      the definitive basis for process capital and operating cost estimates, together with the OEM and constructor enquiry, which will be completed during the FEED programme

The Company considers this Programme to be a critical step in progressing Zanaga's Stage 1 development and strengthening the technical basis for future strategic investment and partnership discussions.

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Figure 1: Bulk sampling pit being prepared at Zanaga Project

Figure 2:  Samples being excavated at Zanaga Project

Martin Knauth, CEO of Zanaga Iron Ore Company Ltd, commented:

"Having spent significant time in-country and on-site over recent months, I've been highly encouraged by the progress our project team is making with the bulk sampling programme, which remains on schedule. This programme is aimed at enabling us to define the revised Stage 1 base-case flowsheet targeting a DRI-specification product, while further informing the inputs required to definitively map the pathway to mine construction and production.

"I look forward to updating our stakeholders as the Programme progresses."

For further information, please contact:

ENDS

About ZIOC:

Zanaga Iron Ore Company Limited (AIM ticker: ZIOC) is an iron ore exploration and development company, with its flagship asset being the 100% owned Zanaga Iron Ore Project, located in the Republic of Congo. The Government Mining Licence, Environmental Permit and Mining Convention are all in place for the Project.

The Zanaga Iron Ore Project is a globally significant asset with a 6.9 billion tonne resource and a 2.1 billion tonne reserve, targeting 30Mtpa production of high-grade DRI pellet feed with very low impurity levels. When fully developed, Stage One (12Mtpa) and Stage Two (18Mtpa expansion) together could establish Zanaga as one of the world's largest iron ore mines. With all key permits secured, Zanaga is well positioned to benefit from increasing demand for high-quality, low-impurity iron ore, supported by low operating costs and an efficient slurry pipeline to port.

In the context of the global transition towards lower-carbon steel production, the Zanaga Project is well positioned to become one of the largest producers of high-grade, premium DRI pellet feed iron ore concentrate.

The Zanaga Iron Ore Company Limited LEI number is 21380085XNXEX6NL6L23.