Site for Downstream Processing Operations

Date: 29 June 2026

Blencowe Resources Plc

("Blencowe" or the "Company")

Orom-Cross Secures Site for Downstream Processing Operations

Further De-risking for the Company's Graphite Beneficiation Strategy

Blencowe Resources Plc (LSE: BRES) is pleased to announce that it has selected the preferred site for the future downstream operations associated with its Orom-Cross Graphite Project in Uganda.

Following an extensive search and evaluation process, the Company has secured, by way of an option to purchase, a site of 100 acres located approximately 35km north of Gulu in Northern Uganda, as the future base for downstream processing operations to further beneficiate its graphite concentrate into purified products.

The agreed purchase price for the site is US$70,000, with a 30% down payment payable to secure the option. The option runs for an initial six-month period, with a further three-month extension available. The Company considers the cost to be modest and aligned with its staged downstream development strategy.

The infrastructure surrounding the site is particularly strong, with direct access to a large modern electrical substation connected to Uganda's hydroelectric power network, including generation from the Karuma Falls Hydropower Station, as well as access to a permanent water source. Downstream beneficiation requires reliable and cost-competitive energy, and the Company believes the selected location provides an optimal platform to support a low operating cost profile as downstream capacity is developed.

The scale of this site supports future anticipated growth as both Orom-Cross and the beneficiation facility ramp up together. Site selection is consistent with previously announced planned downstream development strategy and ongoing engineering work.

Highlights

· 100-acre site selected for downstream processing operations near Gulu, Northern Uganda

· Site secured by way of an option to purchase, with a total purchase price of US$70,000

· Site provides access to hydro-linked grid power and a permanent water source

· Planned facilities to support spheronised graphite and expandable graphite product pathways

· Supports Blencowe's strategy to move up the value chain beyond graphite concentrate sales

· Strengthens Uganda in-country beneficiation strategy and Western non-China graphite supply chain positioning

· ESIA and infrastructure costings now being progressed

The planned downstream facility is expected to support the Company's long-term strategy to move beyond graphite concentrate sales into higher-value upgraded graphite products, including spheronised graphite and expandable graphite. These product pathways form a central part of Blencowe's strategy to increase product optionality, improve realised pricing and position Orom-Cross within Western supply chains seeking scalable, non-China graphite supply.

Spheronisation is a key processing step used to shape graphite into spherical particles suitable for downstream battery-related applications, subject to further purification, coating, customer qualification and commercial requirements. Expandable graphite is used across a range of industrial, fire-retardant, thermal management and energy-related applications, and provides an additional higher-value product pathway for suitable flake material.

The Company believes the selected site offers several strategic advantages:

· Power: direct access to national grid infrastructure connected to Uganda's hydroelectric generation network

· Water: access to a permanent water source for downstream processing requirements

· Location: proximity to Gulu, supporting workforce, logistics (roads and rail) and regional infrastructure access

· Scale: 100 acres, providing space for phased expansion as downstream capacity is developed

· In-country value-add: supports Uganda's objective of increasing local beneficiation and industrial development

The downstream project is expected to include what the Company believes would be the first spheronisation/purification plant and expandable graphite processing facilities of their kind in Africa.

The Company is now progressing the Environmental and Social Impact Assessment (ESIA) for the site and confirming infrastructure costings.

Blencowe Resources Executive Chairman, Cameron Pearce commented:

"Securing a preferred downstream processing site near Gulu is an important step in Blencowe's strategy to build Orom-Cross into more than a conventional graphite concentrate project.

Our long-term objective is to capture more of the value chain in Uganda through the production of upgraded graphite products, including spheronised purified graphite and expandable graphite. The selected site provides access to key infrastructure, including hydro-linked power and water, and gives us the land footprint required to develop downstream capacity in phases as demand and commercial agreements progress.

This is strategically important for Blencowe, for Orom-Cross and for Uganda. In-country beneficiation has the potential to support higher-value product sales, local skills development, industrial growth and stronger alignment with Western markets actively seeking secure, scalable non-China graphite supply.

We are now progressing ESIA work and infrastructure costings for the site and will update the market as these workstreams advance."

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