Blencowe Resou. Regulatory News (BRES)

Date: 13 January 2022

Blencowe Resources Plc

("Blencowe" or the "Company")

Blencowe Appoints Battery Limits to lead PFS on Orom-Cross Graphite Project in Uganda

Blencowe appoints Experienced Technical firm Battery Limits to provide Specialised Engineering Services and Project Management Expertise to its Orom-Cross Graphite Project Pre-Feasibility Study.

Blencowe Resources Plc ("Blencowe" or the "Company") (LSE: BRES) is pleased to announce the appointment of highly regarded Australian Engineering firm Battery Limits to assist the Company in the completion of the Orom-Cross Graphite Project Pre-Feasibility Study.

Highlights

· Battery Limits is a highly experienced graphite project development engineering firm.

· Battery Limits has completed Feasibility Studies for several tier one graphite projects internationally.

· Extensive graphite project experience in East Africa.

Battery Limits is one of the most experienced graphite project development engineers internationally, with extensive experience in East African graphite projects. Battery Limits has been selected to assist the Company on the basis of this relevant project experience which includes:

· Armadale Capital - Lindau Mahenge Tanzania Graphite feasibility study

· MRC - Munglinup Graphite Australia DFS

· International Graphite - downstream processing DFS

· Graphex Chilalo Graphite - PFS update, PFS and scoping studies and DFS metallurgy and process engineering

· Volt Resources - Bunyu Graphite Tanzania FS, PFS, scoping studies

· Armadale Capital - Lindau Mahenge Tanzania Graphite scoping study

· BlackEarth Minerals - Maniry Graphite Madagascar scoping study

· Black Rock Mining - Mahenge Graphite Tanzania PFS

· Magnis Resources - Nachu Graphite Tanzania PFS

· Triton Mineral - Ancuabe Graphite Mozambique scoping study 

Blencowe considers this previous project experience, and in particular the East African graphite knowledge, highly beneficial to Battery Limits assisting in the development of Orom-Cross project.

Battery Limits will lead the Pre-Feasibility Study and will ultimately sign off on the Study, thus providing key credibility to all parties concerned. Study aspects of process engineering and process plant design, capital and operating cost estimates, management of ongoing metallurgical testwork, infrastructure and project implementation will all be undertaken by Battery Limits.

Specialised sub-consultants in Uganda and South Africa will be assisting with tailings storage design, geotechnical and hydrological studies under supervision of Battery Limits.

Executive Chairman Cameron Pearce commented:

"We are both pleased and privileged to have a technical partner with the capabilities and experience of Battery Limits helping us to deliver the PFS, due for completion around mid-2022. Our Orom-Cross graphite project continues to move towards first production in the medium term and their involvement will help provide a stronger operational and commercial model."

For further information please contact:

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Background

Orom-Cross Graphite Project

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger coarse flakes within the deposit. A 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 following extensive historical work on the deposit and Blencowe is moving into the studies phase shortly as it drives towards first production.

Orom-Cross presents as a large, shallow open-pitable deposit, with a maiden JORC Indicated & Inferred Mineral Resource deposit of 16.3Mt @ 6.0% Total Graphite Content. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.