HMRC withdraws Upper Tribunal appeal

15 July 2021

Bluejay Mining plc

('Bluejay' or the 'Company')

HMRC withdraws Upper Tribunal appeal

Bluejay Mining plc, the AIM, FSE listed and OTCQB traded exploration and development company with projects in Greenland and Finland, is pleased to announce that HMRC has formally written to the Upper Tribunal withdrawing its appeal on the First-Tier Tribunal's (Tax Chamber) decision.

The First-Tier Tax Tribunal's decision in respect to the VAT reclamation was made on 18 November 2020, and on the 19 November 2020 HMRC was granted permission to appeal to the Upper Tribunal which, on 14 July 2021, was withdrawn.

Bo Stensgaard, CEO of Bluejay Mining, commented: "I am pleased to give this update on the ongoing VAT claims against HMRC. Bluejay has always been confident in its position and has consistently held that it has, at all times, conducted legitimate overseas activities with respect to the VAT claims. We look forward to the repayment of the claims."

The Company is confident in its position which was supported by the First-Tier Tribunal's decision made on 18 November 2020.

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 one of the world's largest mining companies at its Enonkoski Project.