Alba Mineral Resources Regulatory News (ALBA)

Alba Mineral Resources plc

("Alba" or the "Company")

Clogau-St David's Gold Mine, North Wales

Update on Water Discharge Permit

Alba Mineral Resources plc (AIM: ALBA) provides this update on its ongoing work activities at the Clogau-St David's Gold Mine ("Clogau" or the "Mine") in North Wales in relation to its permitting application in relation to the proposed dewatering of the Llechfraith Shaft.

Details

Natural Resources Wales ("NRW") has given notice of its refusal of the Company's application requesting the grant of an environmental permit for a water discharge activity to allow treated mine water from the Llechfraith Shaft to discharge to the Afon Cwm-llechen (River Cwm-Llechen).

The decision to refuse the permit application is stated to be based on NRW's assessment of the potential environmental impact on the European Protected Species ("EPS")/Special Area of Conservation ("SAC") features of lesser horseshoe bat and otter as, in the opinion of NRW, it has not been demonstrated that the proposed discharge would not have an 'Adverse Effect' on lesser horseshoe bats and otter using the former Clogau adit/mine workings.

Importantly, the NRW's decision notice did, however, include confirmation that the information provided by the Company was sufficient to show that the water discharge itself would 'not have an adverse effect' on the estuary and integrity of Pen Llyn A'r Sarnau / Lleyn Peninsula and The Sarnau marine SAC, Cardigan Bay and Cardigan Bay/ Bae Ceredigion SAC and West Wales Marine / Gorllewin Cymru Forol SAC.

A related application for an EPS Licence has also been refused. The Company has not been notified yet of the outcome of its application for an abstraction licence in connection with the dewatering scheme, however, given the refusal of the discharge permit, it is expected that the abstraction licence will also not be granted.

The Company is disappointed by this outcome and considers that the scheme it has presented presents no adverse impact upon the environment including protected species. The Company and its environmental and ecological consultants will be considering the reasons given by NRW in greater detail in the coming days and considering the grounds to appeal the decision. Further information will be provided as and when it becomes available.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

ENDS

For further information, please visit www.albamineralresources.com or contact:

Alba Mineral Resources plc

George Frangeskides, Executive Chairman +44 20 3950 0725 

SPARK Advisory Partners Limited (Nomad) 

Andrew Emmott +44 20 3368 3555 

ETX Capital (Broker)

Thomas Smith +44 20 7392 1494

St Brides Partners (Financial PR)

Isabel de Salis / Catherine Leftley alba@stbridespartners.co.uk

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events.

Without prejudice to the generality of the foregoing, uncertainties also exist in connection with the ongoing Coronavirus (COVID-19) pandemic which may result in further lockdown measures and restrictions being imposed by Governments and other competent regulatory bodies and agencies from time to time in response to the pandemic, which measures and restrictions may prevent or inhibit the Company from executing its work activities according to the timelines set out in this announcement or indeed from executing its work activities at all. The Coronavirus (COVID-19) pandemic may also affect the Company's ability to execute its work activities due to personnel and contractors testing positive for COVID-19 or otherwise being required to self-isolate from time to time.

Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

All activities and timelines in this announcement are subject to the timely receipt of regulatory and other third-party consents and to the timely availability of contractors, plant and equipment.

Alba's Projects and Investments