Pensana Plc Regulatory News (PRE)

For further information:

Pensana Rare Earths Plc

Website:

Paul Atherley Chairman / Tim George, CEO

www.pensana.co.uk

contact@pensana.co.uk

Buchanan (UK Financial PR)

Bobby Morse/ Augustine Chipungu /James Husband

+44 (0) 207 466 5000

pensana@buchanan.uk.com

Sampling techniques

· Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

· Soil samples are -180# sieved soils collected from below 30 centimetres depth.

· Rock samples are insitu representative rocks of approximately 4 to 5 kilogrammes collected from a single point of outcrop by experienced geologists.

· Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

· Soils: surface soil is removed before sampling at 30 centimetre depth to minimise contamination from recently transported material.

· A larger soil sampling of approximately 5 kilogrammes is sieved to -180# to remove coarse rock fragments and give a consistent sample

· Experienced geologists collect representative rocks from a outcrop point within a 50cm x 50cm area

· Aspects of the determination of mineralisation that are Material to the Public Report. In cases where 'industry standard' work has been done this would be relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.

· No drilling has been completed

· Rock samples are pulverised and riffle split to a 200g representative subsample that is submitted for assay.

· Rock and soil samples are split to produce a 25g charge for assay

· Samples are assayed at for Al, Ba, Ca, Ce, Dy, Er, Eu, Fe, Gd, Hf, Ho, K, La, Lu, Mg, Mn, Nb, Nd, P, Pb, Pr, S, Si, Sm, Sr, Ta, Tb, Th, Ti, Tm, U, Y, Yb, Zn by peroxide fusion followed by ICP analysis at Nagrom laboratories, Perth, Western Australia.

· All commercial laboratories used use industry best practise procedures and QAQC checks.

Drilling techniques

· Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

· No drilling is reported

Drill sample recovery

· Method of recording and assessing core and chip sample recoveries and results assessed.

· Measures taken to maximise sample recovery and ensure representative nature of the samples.

· Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

· No drilling is reported

Logging

· Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

· Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

· The total length and percentage of the relevant intersections logged.

· Rock chip samples are geologically logged

· Samples are not used for Mineral Resource estimation

· Logging is qualitative

Sub-sampling techniques and sample preparation

· If core, whether cut or sawn and whether quarter, half or all core taken.

· If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

· For all sample types, the nature, quality and appropriateness of the sample preparation technique.

· Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

· Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

· Whether sample sizes are appropriate to the grain size of the material being sampled.

· No core drilling is reported

· The preparation of samples follows industry practice. This involves oven drying of the full 4 to 5kg rock sample or 150g soil sample, pulverising to 85% passing 75 micron and splitting to a 100g sample pulp.

· Field duplicates, certified reference standards and blanks were inserted at random but on average every 27 samples for each as part of Pensana QAQC protocols as per industry best practise. Laboratories also have and report internal QAQC checks including assay and preparation duplicates

· The sample sizes are considered more than adequate for this disseminated style and grainsize of material sampled. Repeatability of assays is good.

Quality of assay data and laboratory tests

· The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

· For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

· Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

· The analysis was carried out by an accredited independent assay laboratory.

· Samples are assayed at for Al, Ba, Ca, Ce, Dy, Er, Eu, Fe, Gd, Hf, Ho, K, La, Lu, Mg, Mn, Nb, Nd, P, Pb, Pr, S, Si, Sm, Sr, Ta, Tb, Th, Ti, Tm, U, Y, Yb, Zn by peroxide fusion, hydrochloric leach and followed by ICP analysis at Nagrom laboratories, Perth, Western Australia.

· The assay technique is total.

· Laboratory data only. No geophysical or portable analysis tools were used to determine assay values stored in the database.

· Certified reference materials (CRM's) -standards and blanks - were submitted at random with the field samples on an average of 1 of each type every in 27 field samples basis, as well as the laboratory's standard QAQC procedures.

· Analysis of QAQC data results indicates acceptable levels of accuracy and precision

Verification of sampling and assaying

· The verification of significant intersections by either independent or alternative company personnel.

· The use of twinned holes.

· Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

· Discuss any adjustment to assay data.

· All samples are point samples, no intersections

· No drilling is reported.

· Field data was logged onto field data collection sheets and entered into Excel before being uploaded to the main, secure, database in Perth once complete. The data collection package has built in validation settings and look-up codes. All field data and assay data was verified and validated upon receipt. The database is managed by an independent and professional database manager offsite

· Data collection and entry procedures are documented and training given to all staff

· Scans of original field data sheets are stored digitally and never altered

· Digital data entry is checked and validated against original field sheets if not entered directly

· Laboratory assay data for rare earths is received in element form and converted to oxides for the reporting of rare earth results using molecular weight conversion and the oxide states factors:

La to La2O3 - 1.1728

Ce to CeO2 - 1.2284

Pr to Pr6O11 - 1.2082

Nd to Nd2O3 - 1.1664

Sm to Sm2O3 - 1.1596

Eu to Eu2O3 - 1.1579

Gd to Gd2O3 - 1.1526

Tb to Tb4O7 - 1.1762

Dy to Dy2O3 - 1.1477

Ho to Ho2O3 - 1.1455

Er to Er2O3 - 1.1435

Tm to Tm2O3 - 1.1421

Yb to Yb2O3 - 1.1387

Lu to Lu2O3 - 1.1371

Y to Y2O3 - 1.2699

Location of data points

· Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

· Specification of the grid system used.

· Quality and adequacy of topographic control.

· No drilling is reported

· Rock and soil samples are located using a hand held GPS with an observed accuracy of +/-5 metres

· The grid system used is WGS84 UTM Zone 33S. All reported coordinates are referenced to this grid.

Data spacing and distribution

· Data spacing for reporting of Exploration Results.

· Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

· Whether sample compositing has been applied.

· Rock samples are single point grab samples

· Soil samples are collected along a single east west traverse at approximately 100 metre intervals.

· The data is not designed to support a Mineral Resource estimate

· No sample compositing is applied

Orientation of data in relation to geological structure

· Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

· If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

· The single soil sampling traverse crosses the centre and entire diameter of the Coola carbonatite circular ring structure

· No drilling is reported

Sample security

· The measures taken to ensure sample security.

· Sample security is managed by the Company. After collection in the field the samples are stored at camp in locked sea containers.

· A customs officer checks and seals the samples before transportation by the Company directly to the preparation laboratory. The preparation laboratory submits the samples to the assay laboratory by international air freight - the samples again being inspected by customs and sealed prior to despatch.

· The laboratories audit the samples on arrival and reports any discrepancies back to the Company. No such discrepancies occurred.

Audits or reviews

· The results of any audits or reviews of sampling techniques and data.

· No external audit has been completed. The database is compiled by an independent consultant and is considered by the Company to be of sufficient quality to support the results reported. In addition, from time to time, the Company carries out its own internal data audits.

Mineral tenement and land tenure status

· Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

· The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.

· Prospecting License 059/02/01/T.P/ANG - MIREMPET/2020 covers an area of 7,456 square kilometres. Pensana holds a 90% beneficial interest in the licence with two Angolan partners each holding 5%. The licence was granted for a period of two years, renewable to 7 years.

· The concession is in good standing and no known impediments exist.

Exploration done by other parties

· Acknowledgment and appraisal of exploration by other parties.

· Academic research workers named in the text have completed limited rock sampling and geological mapping at Coola and Monte Verde.

Geology

· Deposit type, geological setting and style of mineralisation.

· The targets tested consist of alkaline-carbonatite volcanic and / or intrusive centres and associated fenite alteration forming ring structures several kilometres in diameter.

· These geological features are prospective for disseminated heavy rare earth (HREE); light rare earth (LREE); niobium; fluorspar; phosphate / phosphorus, hafnium, tantalum and scandium mineralisation.

Drill hole Information

· A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:

o easting and northing of the drill hole collar

o elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar

o dip and azimuth of the hole

o down hole length and interception depth

o hole length.

· If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

· No drilling is reported

Data aggregation methods

· In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.

· Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

· The assumptions used for any reporting of metal equivalent values should be clearly stated.

· No grade cuts are applied

· No intersections are reported and no data aggregation is applied

· No metal equivalent values have been used for the reporting of these exploration results.

Relationship between mineralisation widths and intercept lengths

· These relationships are particularly important in the reporting of Exploration Results.

· If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.

· If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. 'down hole length, true width not known').

· No drilling or intersections are reported. Results are point samples

Diagrams

· Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

· Appropriate plans are included in this release.

Balanced reporting

· Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.

· All new exploration results are reported.

Other substantive exploration data

· Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

· Geological descriptions are included in the text of the alkaline - carbonatite systems investigated

· No exploration data is excluded

Further work

· The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).

· Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

· Systematic gridded soil sampling programmes have been completed at the Coola and Monte Verde carbonatite - alkali complexes and assay results are awaited.

· Wide spaced soil sampling is planned at Sulima.

· Regional stream sediment sampling and geological reconnaissance has just commenced over the sider region

· Geological mapping and rock sampling will accompany the regional sampling.

· Trenching and drilling programmes will be implemented to test priority targets once assay data from the above programmes is received

· Appropriate diagrams accompany this release.