VAT Upper-Tier Tax Tribunal Update

Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining

26 May 2021

Bluejay Mining plc ('Bluejay' or the 'Company')

VAT Upper-Tier Tax Tribunal Update

Bluejay Mining plc, the AIM, FSE listed and OTCQB traded exploration and development company with projects in Greenland and Finland, is pleased to announce an update on the ongoing VAT claims against HMRC. Further to the RNS dated 22 January 2021, the Company continues to maintain its consistently held position which was supported by the First-Tier Tax Tribunal's decision on 18 November 2020, that at all times, Bluejay was conducting legitimate overseas activity with respect to VAT reclamation.

The Company notes the announcement released by Tower Resources plc ('Tower') dated 21 May 2021, whereby Tower was successful in the Upper Tax Tribunal and HMRC's appeal against the lower tribunal findings were dismissed. With Bluejay's case similar to Tower's, the Company now awaits to hear if HMRC will continue their appeal against Bluejay given this most recent loss in the Upper-Tier Tax Tribunal.

The Company will update on new developments in connection with the matter as they arise.

For further information please visit http://www.bluejaymining.com or contact:

Notes

Bluejay is listed on the London AIM market and Frankfurt Stock Exchange and its shares also trade on the OTCQB Market in the US. With projects in Greenland and Finland, its most advanced project is the Dundas Ilmenite Project in Greenland, which is being developed towards production in the near term. 

The Company's strategy is focused on securing financing ahead of commencing commercial production at Dundas in order to create a company capable of self-funding exploration on its current projects and future acquisitions.

Bluejay holds three additional projects in Greenland - the 2,897sq km Disko-Nuussuaq Magmatic Massive Sulphide nickel-copper-cobalt-platinum group element-gold project, which has shown its potential to host mineralisation similar to the world's largest nickel-copper mining district at Noril'sk-Talnakh, northern Russia; the 692sq km Kangerluarsuk zinc-lead- silver project, and the 2,555 sq km Thunderstone project which has the potential to host large-scale base metal and gold deposits. In Finland, Bluejay has agreed a joint-venture agreement with Rio Tinto Mining and Exploration Ltd at its Enonkoski Project.

**ENDS**