Re RMI Nickel Project Acquisition

Corcel PLC

("Corcel" or the "Company")

Resource Mining Corporation: Nickel Project Acquisition

10 February 2021

Corcel Plc, ("Corcel" or "the Company"), the natural resource exploration and development company with interests in battery metals and flexible grid solutions, announces further to the RNS of 17 November 2020, an update in relation to its investment in Resource Mining Corporation Ltd. ("RMI").    

RMI made the following announcement today to the Australian Stock Exchange (ASX), the full text of which is also available at www.tinyurl.com/57fd6zaw . 

            "Nickel Project Acquisition - Tanzania"

Resource Mining Corporation Limited (ASX:RMI) is pleased to announce that it has expanded its nickel portfolio by acquiring a controlling interest in a nickel project in Tanzania. 

RMI's Chairman, Mr. William Mackenzie, said "While the Wowo Gap project in PNG has been the focus for RMI, the expansion into Tanzania with the acquisition of the prospective KNP represents a significant step forward for the Company."

Completion of the acquisition is subject to RMI completing due diligence and is expected to occur within the next week. 

Further Information:

RMI is the 100% owner of the Wowo Gap nickel/cobalt project located 250km from the Company's existing Mambare nickel/cobalt project in Papua New Guinea.  Corcel owns a AUD 4.76m senior debt position in RMI repayable in in September 2021 and January 2022.  

For further information, please contact:

Scott Kaintz 020 7747 9960                                                         CEO Corcel Plc

Roland Cornish/ Rosalind Hill Abrahams 020 7628 3396        NOMAD Beaumont Cornish Limited

Thomas Smith 020 7392 1432                                                     Broker Monecor (London) Ltd (ETX Capital)

Simon Woods 0207 3900 230                                                     IR Vigo Communications               

This announcement contains inside information under Article 7 of Regulation (EU) 596/2014.