Keras Resources Regulatory News (KRS)

12th April 2022

Keras Resources plc ('Keras' or 'the Company')

Operational Update

Keras Resources plc (AIM: KRS) today provides an operational update on the high-grade Diamond Creek organic phosphate mine ('Diamond Creek') in Utah, USA. Management recently hosted the annual inspection and site visit from the Utah State mining and environmental departments and received all ongoing approvals in line with the project's licence obligations. The team will now commence the annual rehabilitation on the access roads and start trucking the approximately 5,200 tons of run-of mine phosphate rock remaining at the lay-down area from last year's mining campaign to the Spanish Fork processing facility. An additional 1,500 tons of blasted ore will similarly be excavated and hauled from the pit to Spanish Fork during the early summer months.

Russell Lamming, CEO of Keras, commented, "Post acquiring 100% ownership of this asset it is great to have all our permits and authorisations in place and be back on the mountain as we move into Spring. As part of the operational cycle of our project we will now ensure safe access for the mining season as we do each year and then start trucking additional run of mine ore to Spanish Fork as we start to ramp up our Spring marketing programme. We appreciate the ongoing support from the State authorities and we look forward to ongoing progress as we continue our value engineering processes across the business for the rest of the year."

The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under Article 7 of the Market Abuse Regulation (EU) No. 596/2014 (as amended) as it forms part of the domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (as amended). Upon the publication of this Announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

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