Wowo Gap: Wardens Hearing

Corcel PLC

("Corcel" or the "Company")

Wowo Gap: Wardens Hearing

28 March 2022

Corcel, the natural resource exploration and development company with interests in battery metals and flexible energy generation and storage is pleased to announce that the Deputy Chief Mining Warden has attended the Warden's Hearing for the Company's Wowo Gap nickel-cobalt project in Papua New Guinea and at the meeting expressed support in relation to the project.

The Warden's Hearing is an important milestone in the license renewal process as it covers both the two past years of the EL1165 exploration license as well as the current two-year exploration period. The Warden's Hearing is considered a broad analogue to local community planning approval in the UK.

This support will now be added to technical assessment reports covering the Company's lease applications and will be submitted to the Mining Advisory Council ("MAC"). The MAC will then consider the application and make recommendations to the Mining Minister regarding formal exploration license renewal.

The Company will provide further updates on the renewal process in due course.

Corcel is currently progressing renewal of the existing exploration licences in parallel to ongoing JORC upgrade and Gap Analysis work in preparation for a bankable feasibility study and ultimately a mining lease over the project.

Scott Kaintz 020 7747 9960 Corcel Plc CEO 

James Joyce / Andrew de Andrade 0207 220 1666 WH Ireland Ltd NOMAD & Broker

Simon Woods 0207 3900 230 Vigo Consulting IR 

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.