RE: RNS13 Aug 2025 07:04
("Nativo" or the "Company")
Acquisition of 50% of Boku & Operations Update
Nativo Resources Plc (LON:NTVO), a gold-focused mining company with interests in Peru, provides the following updates on corporate and operational progress in Peru.
Boku Joint Venture
Nativo is pleased to announce it has entered into an agreement to acquire the remaining 50% of Boku Resources SAC ("Boku"), its Peruvian joint venture company, in order to own 100% of Boku (the "Transaction"). Boku's current assets are (i) the Bonanza Gold Mine on the Tesoro Gold Concession; (ii) an option to evaluate the opportunity to recover and sell gold and silver from the Toma La Mano tailings dump; (iii) permits for the establishment and operation of a gold ore processing plant; and (iv) the Ana Lucia polymetallic project.
There is no financial consideration payable for the Transaction, however, Nativo will transfer the 50% interest it holds in the REINFO (Registro Integral de Formalización Minera) company, Ecotopia Peru SAC, to the Boku sellers. REINFO is a formalisation registry for artisanal and small-scale miners. Nativo no longer requires Ecotopia Peru SAC in order to carry out its activities at the Tesoro Gold Concession following its direct acquisition announced on 10 April 2025 of Dydima E.I.R.L. ("Dydima"), the Peruvian licence-holding entity of the Morrocota Gold Mine, with REINFO status. Operations at Bonanza will therefore be carried out by Dydima, a 100%-owned subsidiary of Nativo. It is intended that Jorge Pinedo, who was appointed by Nativo in July 2025 as Operations Director in Peru, will additionally become General Manager of Dydima and Boku (and therefore of the project), replacing Erick Pegot-Ogier who resigns as General Manager of Boku as part of this Transaction.
The loss attributable to 50% of Boku for the year ended 31 December 2024 was US$157,133. The loss attributable to Ecotopia Peru SAC for the year ended 28 February 2025 was US$71,072 and the carrying value for Ecotopia Peru SAC as at 28 February 2025 was nil.
Bonanza and Morrocota Gold Mines
Further to the announcement on 3 July 2025, Inveritas Global Holdings Ingenieria S.A. ("IGH"), Nativo's engineering and geological consultants in Peru, will join Jorge Pinedo at Bonanza and Morrocota at the end of August to initiate the fieldwork, sampling and modelling studies defined with IGH as a precursor to starting production with revised mine plans. As previously reported, these works are estimated to take approximately one month, after which Nativo intends to tender for contract mining operators to restart production as soon as practicable.
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