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#POW Power Metal Resources PLC – Strategic Uranium Properties Staked – Athabasca

2nd February 2023 / Leave a comment

Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces an update concerning its uranium property portfolio focused on the Athabasca Basin area in Saskatchewan, Canada.

Paul Johnson, Chief Executive Officer of Power Metal Resources plc, commented:

“The uranium acquisitions by staking announced today are a further leap forward for Power Metal’s strategic uranium interests in and surrounding the prolific Athabasca Basin located in northern Saskatchewan, Canada.

The two new properties now secured are adjacent to and largely surrounded by major uranium companies and they demonstrate significant uranium prospectivity with geology considered by the Company to be analogous to major producing mines and other uranium deposits within the Athabasca Basin.

Power Metal started the move to build a uranium exploration business in September 2021 and we believe we are now in a particularly strong position. Our intentions do not stop here, with plans to further expand our uranium focused interests where suitable opportunities are identified.

Uranium has a strong following in capital markets and recently the spot uranium price has moved again above USD$50/lb. With the world dynamic shifting strongly in favour of nuclear power generation we believe that Power Metal should continue this push to build its uranium exploration and development business interests in the London financial markets.“

HIGHLIGHTS:

All claims were acquired by direct mineral claim staking by the Power Metal technical team. They were acquired during the most recent Mineral Administration Registry Saskatchewan (“MARS”) electronic registry system claim reopening on 31 January 2023. The staking acquisitions represent some of the most significant additions to the Company’s uranium portfolio. Further information on the staking process can be found in the further information section below.

The newly acquired Haresign Bay uranium Property (“Haresign Bay”) covers a total area of 3,189.2-hectares (31.89km²) located 35km south of the Athabasca Basin. Haresign Bay is surrounded by claims held by uranium focussed companies F3 Uranium Corp, Baselode Energy Corp, CanAlaska Uranium Ltd and Skyharbour Resources Ltd.

The newly acquired Kernaghan uranium Property (“Kernaghan”) covers a total area of 4,566.2-hectares (45.66km²) within the northeastern edge of the Athabasca Basin. Kernaghan is bordered on three sides by claims held by uranium focussed companies including Standard Uranium Ltd., IsoEnergy Ltd., and Purepoint Uranium Group Inc.

During the most recent claim reopening, Power Metal also staked an additional 1,982-hectare (19.82km²) claim area bordering the western extension of its Thibault Lake uranium Property (the “Extension”). Significantly, the Extension covers a historical showing which returned a trenching result of 1.09% U₃0₈ over 10.7m, greatly increasing the overall prospectively of the extended Thibault Lake uranium Property. ²

With the addition of the Kernaghan and Haresign Bay uranium properties, as well as the additional staking at Thibault Lake, the Power Metal Athabasca uranium portfolio now consists of fourteen properties, including two conditional disposals¹, with a combined total area of 940km².

FURTHER INFORMATION

Mineral Claim Staking Process

The mineral claims constituting the Haresign Bay and Kernaghan Uranium Properties as well as the Thibault Lake Extension were acquired directly through the Mineral Administration Registry Saskatchewan (“MARS”) electronic registry system.

Where a previous claim owner is unable to satisfy the claim maintenance requirements, that ground is reopened to third party staking at a set time each month. Select reopening’s are often highly competitive with many parties attempting to acquire the newly available land.

The total cost of staking was CAD$5,842.34. The newly staked licences come with a two-year term with no minimum spend requirement and which can then be extended for subsequent years by spending a minimum of CAD$146,059 per annum.

The Haresign Bay Property

Haresign Bay is located 43km south of Cameco Corporation’s Key Lake Uranium Mine which is the third largest deposit within the Athabasca Basin – with an average mineable grade of just over 2% U₃O₈.¹ Haresign Bay is located 35km south of the Athabasca Basin, along the Key Lake trend, which is defined by a cluster of northeast-southwest trending electromagnetic conductors which extend to the northeast over the Key Lake Mine. The Key Lake trend is a defining geophysical and geological trend within the Athabasca Basin, and Haresign Bay represents a significant position held within this important uranium-rich corridor.

The Upper Roberta Lake Target (“Upper Roberta Lake” or the “Target”) is located in the southwestern part of the Haresign Bay Property and is defined by a gravity low anomaly which is coincident with elevated Radon²²²-in-lake water results. This Target area is further intersected by multiple electromagnetic conductors of part of the Key Lake Trend. Upper Roberta Lake represents a highly compelling target for future work.

The Kernaghan Property

Kernaghan is located within the prolific Athabasca Basin approximately 13km from the Basin’s edge. Based on nearby borehole’s drilled by Denison Mines Corp., the sandstone-basement unconformity on the Property is expected to be at around 100m depth.

The Kernaghan Property covers multiple anomalous Radon²²²-in-lake water results which are oriented within a northeast-southwest trending belt. This trend is coincident with a magnetic low feature. Kernaghan represents the Company’s third property which is located entirely within the Athabasca Basin.

Thibault Lake West Extension

The Extension covers an additional four Saskatchewan Mineral Deposit Index (“SMDI”) points. These SMDI points cover multiple high-grade uranium showings including a north trending zone of strong uranium mineralisation from which historic trenching returned 10.7m of 1.09% U₃0₈.² Several other high-grade uranium showings are covered by the Extension including grab and/or channel samples which returned 4.8%, 1.75%, 0.71%, and 0.66% U₃0₈.^3,4

Next Steps

The Company is preparing fact sheets which will include further information and maps for newly acquired staking. These will be released to the market once ready. Furthermore, detailed data rooms are being prepared.

URANIUM PROPERTIES – HOLDING STRUCTURE

Power Metal has a 100% subsidiary Power Metal Canada Inc (“Power Canada”), which acts as the holding Company for certain Canadian project operations. Power Canada has a wholly-owned subsidiary, 102134984 Saskatchewan Ltd, which is the holder of the Company’s Athabasca uranium portfolio.

The Power Metal Canada Uranium Property Map is available to view at the following link:

https://www.powermetalresources.com/power-metal-canada-uranium-map/

Table 1: 102134984 Saskatchewan Ltd., Athabasca Basin Property Holdings

Project	Licence ID	Area (Hectare)	Area (km²)
Clearwater Uranium Property	MC00015079	1,110	11.1
	MC00015083	563	5.63
	MC00015082	3,191	31.91
	MC00015151	760	7.6
	MC00015646	761	7.61
	MC00015658	1,541	15.41
Tait Hill Uranium Property	MC00015078	1,576	15.76
	MC00015081	968	9.68
	MC00015153	1,530	15.3
	MC00015152	1,886	18.86
	MC00015647	725	7.25
	MC00015648	1,129	11.29
	MC00016158	3,242	32.42
Thibault Lake Uranium Property	MC00015077	2,206	22.06
	MC00015659	2,195	21.95
	AC00018709	1,982	19.82
Soaring Bay Uranium Property	MC00015080	1,255	12.55
	MC00015155	3,375	33.75
	MC00015874	748	7.48
	MC00015875	2,529	25.29
Cook Lake Uranium Property	MC00015212	984	9.84
E-12 Uranium Property⁵	MC00015213	1,323	13.23
Reitenbach Uranium Property⁶	MC00015214	2,135	21.35
	MC00015474	1,235	12.35
	MC00015655	4,570	45.7
	MC00015656	5,322	53.22
	MC00015657	886	8.86
	MC00015824	528	5.28
	MC00016155	1,333	13.33
Reindeer Lake	MC00015522	3,336	33.36
Porter Lake	MC00015561	5,656	56.56
Porter Lake	MC00015562	5,198	51.98
Old Woman Rapids	MC00015563	4,851	48.51
	MC00015564	5,063	50.63
	MC00015565	3,044	30.44
Durrant Lake	AC00018000	5,866	58.66
Badger Lake	MC00016253	1,671	16.71
Haresign Bay	AC00018692	3,189	31.89
Kernaghan	AC00018694	4,566	45.66
Total Licence Holding Area		93,998	939.98km²

#SVML Sovereign Metals Ltd – ASX Trading Halt Update

30th January 2023 / Leave a comment

Sovereign Metals Limited (ASX:SVM; AIM:SVML) (“Sovereign” or the “Company”) announced on 27 January 2023 that following movements in its share price on the Australian Securities Exchange (“ASX”)and a price query from ASX, the Company’s ordinary shares were placed in a trading halt on the ASX. The ASX has informed Sovereign that the trading halt has been lifted and trading of the Company’s ordinary shares has resumed on the ASX.

The trading halt did not affect trading in the Company’s shares on the AIM market of the London Stock Exchange plc, where normal trade continued.

In response to the ASX price query dated 27 January 2023 regarding an increase in the Company’s share price and in the volume of trading securities, the Company noted that it is not aware of any information that has not been announced which, if known, could be an explanation for recent trading in the securities of the Company, however it does note that:

(a) On 26 January 2023, Mkango Resources Limited (AIM/TSX-V: MKA) (“Mkango”) announced the receipt of Environmental Social Health Impact Assessment (“ESHIA”) approval from the Malawi Environmental Protection Authority (“MEPA”) for their Songwe Hill Rare Earths Project. The approval of the ESHIA is a significant milestone in the Mining Development Agreement (“MDA”) approvals process as it is fundamental requirement for obtaining a mining licence in Malawi.

(b) On 7 December 2022, the Company announced that the Company is to demerge its standalone Graphite Projects (being the Nanzeka, Malingunde, Duwi and Mabuwa Projects) into a wholly owned subsidiary, NGX Limited (“Demerger”). The Company expects to publish a Notice of Meeting for the Demerger in the coming weeks.

(c) In September 2022, the Company completed a 6,865 metre, 438-hole air-core and push-tube infill mineral resource drilling program at Kasiya Rutile Project (“Kasiya”). The infill drilling results from this program are consistent with previous announced drilling results (refer to announcements dated 08/09/2022 and 26/10/2022) and are confirmatory of these previous infill results released to the market. An updated Kasiya Mineral Resource Estimate is targeted for completion in Q1 2023.

The final infill drill hole was completed on 16/09/2022. The final batch of infill drill hole samples was sent to Australian laboratories on 9/11/2022. The final batch of assay results was received by the Company on 8/12/2022 but as stated above the results from the program are consistent with previous announced drilling results.

In any event, the Company has released the infill assay results following a request from ASX (see announcement entitled ‘Kasiya Resource Infill Drilling Results’ dated 30 January 2023).

The Company has strict procedures to maintain confidentiality of assay results with two directors and two senior management employees only having access to drill results prior to announcement drafting and circulation to the board for final approval.

The Company expects that its shares will trade as normal on ASX from opening of trade on 31 January 2023. Trading will continue as normal on the AIM market.

ENQUIRIES

Dylan Browne
Company Secretary

+61(8) 9322 6322

Nominated Adviser on AIM
RFC Ambrian
Bhavesh Patel / Andrew Thomson	+44 20 3440 6800

Joint Brokers
Berenberg	+44 20 3207 7800
Matthew Armitt
Jennifer Lee

Optiva Securities	+44 20 3137 1902
Daniel Ingram
Mariela Jaho
Christian Dennis

#SVML Sovereign Metals Ltd – ASX Trading Halt

27th January 2023 / Leave a comment

Sovereign Metals Limited advises that the Company announced a voluntary trading halt to the Company’s securities on the Australian Securities Exchange (“ASX”), pending an announcement regarding a response to an ASX price query.

The Company requested that the trading halt remain until the earlier of an announcement to the market regarding the above or the opening of trade on ASX on 31 January 2023.

The Company also notes the recent share price rise in the trading of its securities on AIM, and observes that on 26 January 2023, Mkango Resources Limited (AIM/TSX-V: MKA) (“Mkango”) announced the receipt of Environmental Social Health Impact Assessment (“ESHIA”) approval from the Malawi Environmental Protection Authority (“MEPA”) for their Songwe Hill Rare Earths Project. The approval of the ESHIA is a significant milestone in the Mining Development Agreement (“MDA”) approvals process as it is a fundamental requirement for obtaining a mining licence, and while not directly associated with Sovereign’s Kasiya Rutile Project (“Kasiya”) in Malawi, could be perceived as an encouraging regulatory sign.

The Company also notes that it intends to release infill drilling results at Kasiya shortly, which would be incorporated into the next iteration of Kasiya’s Mineral Resource Estimate, and the impending release of the Notice of Meeting for the demerger of its standalone graphite projects (see RNS dated 7 December 2022).

ENQUIRIES

Dylan Browne
Company Secretary

+61(8) 9322 6322

Nominated Adviser on AIM
RFC Ambrian
Bhavesh Patel / Andrew Thomson	+44 20 3440 6800

Joint Brokers
Berenberg	+44 20 3207 7800
Matthew Armitt
Jennifer Lee

Optiva Securities	+44 20 3137 1902
Daniel Ingram
Mariela Jaho
Christian Dennis

#TYM Tertiary Minerals plc -Update -Copper Projects, Zambia

25th November 2022 / Leave a comment

Tertiary Minerals plc is pleased to announce that it’s local partner and licence holder Mwashia Resources Ltd (“Mwashia”) has now received approval of Environmental Project Briefs (“EPBs”) from the Zambian Environmental Management Agency (“ZEMA”) for the Konkola West and Lubuila Copper Projects where the Company is earning up to a 90% interest.

The Company is also providing a project update for the Mukai and Mushima North Projects following a preliminary data review and first meetings with global copper producer First Quantum Minerals Ltd (“FQM”) with whom the Company has a data sharing and technical cooperation agreement (the “Data Sharing and Technical Cooperation Agreement”) .

Key Points:

EPB Approvals

· ZEMA has now approved EPBs for the Konkola West & Lubuila Licences.

· The approval process for the Mukai & Mushima North Project EPBs is at an advanced stage.

· EPB approval is required before exploration can take place.

Project Updates

· Initial prospectivity reviews completed by consultant Remote Exploration Services (RES) of South Africa, based on historical data.

· First meetings held with FQM under the Data Sharing and Technical Cooperation Agreement. Data transfer from FQM to the Company is currently in progress.

· Exploration targeting underway with initial priority areas already defined by RES at:

Ø Mukai, where the host stratigraphy for FQMs nearby Enterprise Nickel Mine and giant Sentinel Copper Mine can be traced into the Mukai Licence where there are both copper and nickel geochemical anomalies.

Ø Mushima North, where historical drilling in the 1960s encountered wide zones of low-grade copper-sulphide mineralisation and which is prospective for iron-oxide-copper-gold (“IOCG”) deposits.

Commenting today, Executive Chairman Patrick Cheetham said:

“I am delighted to report that, following a recent series of positive updates for the Jacks Copper Project in Zambia where we have now earned a 90% interest, the necessary EPBs are now starting to be issued for the other Zambian projects where we have similar earn-in rights.

I am also pleased and excited to be reporting progress in our data sharing and technical cooperation agreement with FQM along with the definition of several exploration targets from a desktop study of historical exploration results commissioned with RES prior to our agreement with FQM.“

For more information please contact:

Tertiary Minerals plc:
Patrick Cheetham, Executive Chairman		+44 (0) 1625 838 679
SP Angel Corporate Finance LLP Nominated Adviser and Broker
Richard Morrison		+44 (0) 203 470 0470
Caroline Rowe
Peterhouse Capital Limited Joint Broker
Lucy Williams	+ 44 (0) 207 469 0930
Duncan Vasey

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (‘MAR’). Upon the publication of this announcement via a Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.

Additional Information

Background

Tertiary is exploring in Zambia through its local subsidiary Tertiary Minerals (Zambia) Limited (“TMZ”) which is 96% owned by Tertiary Minerals plc. TMZ now holds 90% of the Jacks Copper Project with the remaining 10% held by local company and licence holder Mwashia Resources Ltd (“Mwashia”). TMZ holds an option to purchase Mwashia’s 10% interest in the Jacks exploration licence for US$3.5 million at any time.

TMZ also holds options to earn up to a 90% interest in four other licences held by Mwashia, namely the Mukai, Mushima North, Lubuila and Konkola West exploration licences. Further details of Tertiary’s agreements with Mwashia are given in the Company’s news releases of 2 August 2021 and 18 November 2021.

The Mukai and Mushima North licences are covered by a Data Sharing and Technical Cooperation Agreement with First Quantum Minerals Limited (“FQM”). Further details of the Agreement can be found in in the Company’s news release of 15 September 2022.

EPB Approvals

Before exploration can be carried out on a licence in Zambia, an Environmental Project Brief (“EPB”) must be submitted for approval by the Zambian Environmental Management Agency (“ZEMA”).

An approved EPB is already in place for the Jacks Copper Project and Mwashia has now advised that EPBs have been approved for the Lubuila and Konkola West Licences and that the process for EPB approvals for Mukai and Mushima North is at an advanced stage within ZEMA.

Project Updates

The Company and FQM have now held their first meeting and data transfer is underway from FQM’s proprietary regional exploration programmes that included the Mukai and Mushima North project areas. This includes extensive geological, geophysical and geochemical data.

Prior to reaching its agreement with FQM the Company had commissioned South African company Remote Exploration Services (“RES”) to conduct a desktop study on the exploration history and prospectivity of the four Mwashia licences held under option.

The following information is intended as a preliminary update of the prospectivity of the two licences that are covered by the FQM agreement and is based on the earlier RES project review which has already defined priority targets. Target generation is ongoing and will incorporate the FQM data. The Company aims to be in a position to commence field exploration as soon as possible.

Mukai Copper Project, 27066-HQ-LEL

Exploration Licence 27066-HQ-LEL covers 55.4 sq. km. and is located 125km west of Solwezi in the north-western Province of Zambia. Geologically it is in the Domes Region of the Central African Copperbelt and it encompasses Lower Roan Group rocks on the southern flank of the highly prospective Kabompo Dome.

The licence is directly adjacent to FQM’s Trident Project licences which includes the recently opened Enterprise Nickel Mine and the giant producing Sentinel (Kalumbila) Copper Mine, located 8km south and 18km southeast of the licence, respectively. FQM has invested US$2.1 billion in the Sentinel copper mine where the plant has the capacity to treat 55 million tonnes of ore per annum.

Enterprise is a sediment-hosted nickel-sulphide deposit with a total measured and indicated resource of 40 million tonnes of ore containing 431,000 tonnes of nickel from which FQM envisages processing some 4 million tonnes per year of nickel ore making Enterprise the largest nickel mine in Africa.

Just west of Mukai is Arc Minerals Ltd.’s Zambia Copper-Cobalt Project where Anglo American plc has the option to earn a 70% interest from Arc Minerals through expenditure of US$88.5 million including US$14.5 million in cash payments to Arc Minerals.

Historic exploration in the Mukai licence area has been carried out for copper by Roan Selection Trust (“RST”) in the 1960s, for uranium by Agip in the 1980s, and by an Equinox- Anglo American JV (“Zamanglo”) in the early 2000s. Most of this work was of a regional nature comprising stream sediment sampling and soil sampling.

To date, FQM has provided Tertiary with licence-wide geophysical data including magnetic data, radiometric data and electromagnetic data. FQM’s mapping, in part based on this data, has traced the Enterprise and Sentinel host rocks into the Mukai Licence where they occur in similar proximity to the deep seated Kalumbia Fault Zone.

A copper soil anomaly was identified within the Mukai licence by RST in the 1960s close to the boundary with FQM’s licences and is seen to continue into FQM’s adjacent licence as a copper and copper:scandium anomaly (high copper:scandium ratios are seen as an indicator of copper sulphide mineralisation as opposed to enhanced background level of copper in the rock). This is a high priority target for follow-up exploration.

Nickel anomalies have also been identified in the licence area, in soils by Zamanglo and in stream sediments by the Zambian Geological Survey. Data interpretation and targeting is ongoing.

The Mukai Licence contains an area of designated forest, which, although affording a higher level of environmental protection, does not exclude exploration or mining.

Mushima North Copper Project, 27068-HQ-LEL

Exploration Licence 27068-HQ-LEL covers 701.3 sq. km. and is located 100km east of Manyinga.

The licence encompasses basement rocks outside of the traditional Copper Belt and the region is a focus of exploration for copper-gold in so called Iron-Oxide-Copper-Gold (“IOCG”) deposits, best exemplified by the giant Olympic Dam copper-gold-uranium deposit in South Australia.

The past producing Kalengwa Copper Mine is situated approximately 20km west of the licence and is believed to be one of the highest-grade copper deposits ever mined in Zambia. In the 1970s high grade ore in excess of 26% copper, making up approximately 20% of the orebody, was trucked for direct smelting at Copper Belt mines.

Historical exploration at Mushima North has been carried out by RST in the 1960s, African Minerals Corporation in the early 2000s and by BHP Group Limited later in the 2000s. BHP flew their proprietary Falcon gravity gradiometer over the licence area, defining geological structures and targets for further exploration.

Historical exploration has focused on the eastern margin of a series of syenitic-granitic intrusives. A number of historic copper prospects occur within the licence and soil anomalies have been identified in RST soil sampling programmes in the 1960’s. One of these anomalies was followed up with a 154m deep drill hole, RKN 800, which intersected pyritic siltstone and sandstone containing chalcopyrite (copper sulphide) in association with calcite veins. Sampling of drill cores was very rudimentary with random samples taken at the end of each core run. Nevertheless, copper values were anomalous throughout with many samples grading more than 0.3% copper (0.3% being the upper limit on the graphical scale of analytical results presented with the drill log). This is an immediate target for follow-up exploration.

FQM has so far provided the Company with airborne magnetic and VTEM electromagnetic survey data for the Mushima North licence. This data will be processed with a view to additional target generation and data compilation and reviews are ongoing.

#KAV Kavango Resources Plc – Publication of Prospectus

18th November 2022 / Leave a comment

Further to the announcement of 24 October 2022 in which Kavango announced it had conditionally raised £3,000,000 before expenses by the issue of 166,666,660 new ordinary shares of £0.001 each in the capital of the Company (the “New Ordinary Shares”) at a price per share of 1.8 pence, the Company is pleased to announce that the Financial Conduct Authority has approved its prospectus dated 18 November 2022 (the “Prospectus”) issued in connection with:

– the placing of 158,555,555 New Ordinary Shares (the “Placing Shares”);

– the subscription of 8,111,105 New Ordinary Shares (the “Subscription Shares”);

– the issue of 60,000,000 New Ordinary Shares to Power Metal Resources PLC (further to the announcement of 8 July 2022) (the “Kanye Consideration Shares”);

– the issue of 2,000,000 New Ordinary Shares to LVR GeoExplorers (Pty) Ltd (further to the announcement of 16 September 2022) (the “LVR Shares”);

– the issue of 13,478,951 New Ordinary Shares to Mindea Exploration and Drilling Services (Pty) (further to the announcement of 10 June 2021) (the “Fee Shares”); and

– admission of the enlarged share capital and up to 395,918,682 New Ordinary Shares.

The Prospectus has been published in electronic form and will shortly be available on the Company’s website at:

https://www.kavangoresources.com/investor-relations/admission-document

A copy of the Prospectus has also been submitted to the National Storage Mechanism and will shortly be available for inspection at

https://data.fca.org.uk/#/nsm/nationalstoragemechanism

Warrants

In connection with the publication of the prospectus and as announced by the Company previously, the following warrants have been issued, subject to Admission:

· 166,666,660 warrants to the placees and the subscribers of the placing and subscription announced on 24 October 2022, as applicable, and 27,777,777 warrants to Arigo Capital Limited, as announced on 25 October 2022. The warrants are exercisable at 3p per share for a term of 24 months from the date of issue. These warrants are conditional upon the approval of shareholders and details of a general meeting at which such approval will be sought will be sent to shareholders in the near future.

· The issue to Power Metal Resources PLC of the following:

o 30,000,000 warrants at an exercise price of 4.25p per share for a period of 30 months from 8 July 2022;

o 30,000,000 warrants at an exercise price of 5.5p per share for a period of 30 months from 8 July 2022; and

o 15,000,000 variable price warrants (“VP Warrants”) with a six-month life to expiry, with a minimum exercise price of 3p and an actual exercise price at a 15% discount to the volume-weighted average share price on the date of exercise per share. Should all VP Warrants be exercised by 8 January 2023, Power Metal Resources PLC will receive 15,000,000 replacement warrants, on the same exercise terms and with a 12-month life to expiry from the issue date.

· 2,000,000 warrants to LVR GeoExplorers (Pty) Ltd, exercisable for two years from the date of issue and with an exercise price of 8.5p per share.

· 8,333,334 warrants to Tamesis Partners LLP, exercisable for two years from the date of issue and with an exercise price of 3p per share.

Admission and Total Voting Rights

Application will be made for the Placing Shares, the Subscription Shares, the Kanye Consideration Shares, the LVR Shares and the Fee Shares to be admitted to the Standard List segment of the Official List and to trading on the main market of the London Stock Exchange plc (“Admission”). It is expected that Admission will become effective and that dealings in the Placing Shares, the Subscription Shares, the Kanye Consideration Shares, the LVR Shares and the Fee Shares will commence at 8.00 am on 25 November 2022.

Following Admission, the total issued share capital of the Company will consist of 705,569,314 Ordinary Shares*. Therefore, the total number of voting rights in the Company is 705,569,314 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest, in the share capital of the Company.

*This figure is inclusive of the 27,777,777 shares which are being admitted on 30 November 2022, as announced on 25 October 2022.

Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.

For further information please contact:

Kavango Resources plc

Ben Turney

bturney@kavangoresources.com

+46 7697 406 06

First Equity (Joint Broker)

+44 207 374 2212

Jason Robertson

SI Capital Limited (Joint Broker)

+44 1483 413500

Nick Emerson

#POW Power Metal Resources PLC – Kalahari Key Botswana – Acquisition Update

28th October 2022 / Leave a comment

Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces an update in respect of the acquisition of an additional 58.7% interest in Kalahari Key Mineral Exploration PTY Limited (“Kalahari Key” or “KKME”) (the “Transaction”).

Kalahari Key has a single project 60% interest in the Molopo Farms Complex Project (the “Project’ or “Molopo Farms”) targeting a large-scale nickel – platinum group metal (“PGM”) discovery in southwest Botswana.

The conditional acquisition was originally announced on 18 May 2022 which may be viewed through the following link:

https://www.londonstockexchange.com/news-article/POW/kalahari-key-botswana-acquisition/15458701

HIGHLIGHTS:

– The Company has received written confirmation that all Botswana regulatory approvals required to enable the Transaction to proceed have now been received.

– Following receipt of the approvals the Company is now working with the Kalahari Key Board and advisers in Botswana to complete the Transaction.

– Following Transaction completion, Power Metal will hold an 87.71% interest in Kalahari Key which will hold a 100% interest in Molopo Farms.

– A further announcement to follow shortly including confirmation of the issue of equity consideration to Kalahari Key shareholders disposing of their interest to Power Metal.

Paul Johnson, Chief Executive Officer of Power Metal Resources PLC, commented:

“The receipt of all Botswana regulatory approvals for the Transaction is a significant event for the Company, and after the various administrative tasks are completed Power Metal will hold an 87.71% interest in Kalahari Key.

On behalf of Power Metal I would like to thank the authorities in Botswana and our advisers for their handling of the approvals process, and the Kalahari Key team who are working with us to complete the Transaction.

Shareholders will be aware we are currently undertaking the largest drill programme the Company has conducted at Molopo Farms and to complete the Transaction at this juncture is particularly significant.

Further announcements will follow with regard to Transaction completion and with operational updates from the Molopo Farms ongoing drill programme.”

Further information in respect of Molopo Farms may be viewed on the Company’s website through the following link:

https://www.powermetalresources.com/project/molopo-farms-complex/

In addition photographs and videos from the Project are and will be available on the Company’s website gallery section, through the following link:

https://www.powermetalresources.com/investors/gallery/molopo-farms-complex-botswana/

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc
Paul Johnson (Chief Executive Officer)	+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)
Ewan Leggat/Charlie Bouverat	+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)
Nick Emerson	+44 (0) 1483 413 500

First Equity Limited (Joint Broker)
David Cockbill/Jason Robertson	+44 (0) 20 7330 1883

NOTES TO EDITORS

Power Metal Resources plc – Background

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.

The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.

Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.

Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work.

Value generated through disposals will be deployed internally to drive the Company’s growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.

Exploration Work Overview

Power Metal has multiple internal exploration programmes completed or underway, with results awaited. The status for each of the Company’s priority exploration projects is outlined in the table below.

Project	Location	Current POW %	Work Completed or Underway	Results Awaited

Athabasca Uranium	Canada	100%	Ground exploration programme complete at 3 properties. Preliminary planning for work in Spring/Summer 2023 is ongoing.	Assay results from samples collected during fieldwork.
Molopo Farms	Botswana	87.71%^#	T1-6 conductor target drilling underway. Further MLEM surveys planned over additional AEM targets identified.	Drill programme updates and findings from further MLEM survey work.
Tati Project	Botswana	100%	RC drilling and sampling of mine dumps complete.	Review of mine dumps sampling and assay results from RC drill programme.

^# following completion of administrative processes for share transfer and restructuring

Exploration work programmes may also be underway within Power Metal investee companies and planned IPO vehicles where Power Metal has a material interest, the findings from which will be released on their respective websites, with simultaneous updates through Power Metal regulatory announcements where required. These interests are summarised in the table below:

#POW Power Metal Resources PLC – FDR Australia – Wallal Drill Clearance & Update

27th October 2022 / Leave a comment

Power Metal Resources plc (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio, provides an update to shareholders in respect of its interests in the Paterson Province of Western Australia (the “Paterson Interests”) held through its 62.12% subsidiary First Development Resources PLC (“FDR”) which is seeking a planned listing on the London capital markets.

This update relates specifically to the Wallal Project (“Wallal” or the “Project”), one of three Paterson Province projects held by FDR and includes the Wallal Tenements (E45/5816, E45/5853 and E45/5880) (the “Tenements”).

Highlights

· The Heritage Clearance Survey at Wallal, completed under the supervision of the Yamatji Marlpa Aboriginal Corporation and the Nyangumarta people in September 2022 has confirmed site establishment works for drilling may now proceed.

· FDR have immediately mobilised an operational team to site to the eastern magnetic bullseye anomaly identified during the in-depth desktop review (the “Eastern Anomaly) to establish access and to prepare the drilling pad, enabling the commencement of diamond drilling which is expected to follow immediately after the listing of FDR in the London capital markets.

· The Phase I diamond core drilling programme has been designed to initially test the Eastern Anomaly, which is interpreted to consist of two lobes which result in a distinct target area of approximately 2.5km x 2.5km, targeting a large-scale gold-copper discovery.

Tristan Pottas Chief Executive Officer of First Development Resources plc commented:

“The completion of the Heritage Clearance Survey provides FDR with the final approval required to proceed with the Phase I diamond core drilling programme at FDR’s flagship Wallal Project in the Paterson province.

I would personally like to thank all the key stakeholders and consultants who have helped us get to this decisive point in the evolution of FDR, particularly the Nyangumarta people and Yamatji Marlpa Aboriginal Corporation.

On receipt of the final report, we have immediately engaged the services of an earthworks contractor to prepare the site to enable our drilling partner DDH1 to commence drilling at the earliest convenience following our planned UK listing.”

Paul Johnson Chief Executive Officer of Power Metal Resources plc commented:

“Without question this is an exciting time for the Power Metal and FDR teams as we close in on listing, an event which will be followed with drilling at Wallal targeting a large-scale gold-copper discovery.

From day one to date, FDR have demonstrated their intention to deploy capital immediately into the ground to improve the understanding of the various targets across their project portfolio. This is a mindset that I expect to continue after the planned UK listing.”

FURTHER INFORMATION

FIGURE 1: Paterson Province Tenement Map

FIGURE 2: Wallal Geophysical Anomaly Map

Diagram, map Description automatically generated

FIGURE 3: 3D View to the North of the Eastern Anomaly

The diagrams and images presented above may be viewed on FDR’s website and may be reached through the following link:

https://firstdevelopmentresources.com/project/wallal-project/

Further photographs and videos are and will be available on FDR’s website gallery section, through the following link:

https://firstdevelopmentresources.com/investor-centre/gallery/

WALLAL HERITAGE CLEARANCE SURVEY

The Heritage Clearance Survey (the “Survey”) was completed at Wallal between 12-15 September 2022. The original Survey request which included a detailed description of the Phase I diamond core drilling programme and site-specific maps was submitted to Yamatji Marlpa Aboriginal Corporation (“YMAC”) by the Company’s appointed Exploration Manager on 31 January 2022. The Survey is a required precursor to the planned Phase I diamond core drilling programme at the company’s Wallal project located in the Paterson Province of Western Australia.

The Survey was completed in accordance with Section 18 of the Aboriginal Heritage Act 1972 and in accordance with the terms of the Heritage Agreement in place with YMAC as agent for the Nyangumarta Warrarn Aboriginal Corporation. The Survey was undertaken with the full involvement of Nyangumarta representatives. As native title holders the Nyangumarta possess rights and interests according to traditional law and custom including the right to be fully informed about activities on their country and to speak about their country.

The Survey team, appointed by YMAC, included representatives from Nyangumarta, a YMAC archaeologist, a consulting anthropologist, and members of FDR senior management team. Two 400m x 400m areas were surveyed covering the two planned drill locations designed to initially test the Eastern anomaly (“Area A”) and the secondary target, the Border anomaly (“Area B”). In addition to the drill sites, the Survey also covered the route of new tracks necessary to access the drill locations. At both drill locations additional east-west orientated survey grids (measuring 2.73km x 4km at Area A and 1.27km x 4km at Area B) were delineated to facilitate potential future on-ground geophysical surveys.

Following the Survey, the Nyangumarta representatives asserted that the work programme proposed at Area A and Area B, was clear of ethnographic and archaeological sites or concerns and that the proposed works programme could proceed.

SITE ESTABLISHMENT AND ACCESS

Following receipt of the Heritage Clearance Survey Report a team led by the FDR’s Exploration Manager has been mobilised to Wallal to prepare the site in preparation for drilling which is scheduled to commence immediately following FDR’s proposed UK listing.

To enable site works to proceed efficiently, the existing access track which links the drilling sites to the well-maintained Nyangumarta Highway, will require minor earthwork improvements and the drill pads and camp accommodation areas will be levelled and prepared ahead of drill contractor mobilisation

Both the access and the drill pad location were surveyed during the recent Heritage Clearance Survey. Site clearance is expected to take approximately three days to complete.

WALLAL PHASE I DIAMOND CORE DRILLING PROGRAMME

FDR’s Phase I diamond core drilling programme has been designed in conjunction with Perth based consultancy Resource Potentials Pty Ltd (“Resource Potentials”). The programme is targeting the Proterozoic basement rocks below the Permian Grant Group which are believed to host the sources of the magnetic bullseye anomalies identified during the completion of an in-depth review of all geological and geophysical data associated with the Wallal project area.

Three magnetic bullseye anomalies were identified in the review, the Western, Eastern and Border anomalies. The magnetic bullseye anomalies are of particular interest due to their possible geological similarities to the regionally significant Havieron discovery (Greatland Gold – Newcrest Joint venture).

The Havieron deposit is coincident with a magnetic bullseye anomaly detected by an airborne magnetic survey and has a similar amplitude to Wallal, approximately 100nanoTesla (“nT”) for the Eastern Anomaly and 80nT for Havieron.

The Phase I diamond core drilling programme has been designed to initially test the Eastern Anomaly. The Eastern Anomaly is interpreted to consist of two lobes which result in a distinct target area of approximately 2.5km x 2.5km. An estimate of depth of the cover sequence has been used to constrain the modelled depth of approximately 800 metres to the top of the Eastern magnetic source body.

The Phase I diamond core drilling programme will consist of a minimum of two sub-vertical boreholes totalling approximately 2,720 metres, which will be drilled using rotary open hole to about 150 metres downhole depth and then full core drilling techniques there onwards.

Depending on ground conditions encountered, it is expected that the holes will be commenced using reverse circulation drilling techniques, followed by 83mm (PQ3) or 61.1mm (HQ3) diameter core with a 50.5mm (NQ2) tail to total depth. The parameters for the planned boreholes are set out in Table 1:

Table 1: Planned Wallal Phase I diamond core drillhole parameters

DRILLHOLE ID	EASTING	NORTHING	AZIMUTH (°)	DIP (°)	NOMINAL DEPTH (m)
DH1	260325	7780690	90	80	1,220
DH2	259850	7780772	270	80	1,500

QUALIFIED PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Qualified Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc
Paul Johnson (Chief Executive Officer)	+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)
Ewan Leggat/Charlie Bouverat	+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)
Nick Emerson	+44 (0) 1483 413 500

First Equity Limited (Joint Broker)
David Cockbill/Jason Robertson	+44 (0) 20 7330 1883

#GRX GreenX Metals – Notice of AGM

6th October 2022 / Leave a comment

DATE OF ANNUAL GENERAL MEETING

GreenX Metals Limited (GreenX or the Company) advises that the Annual General Meeting (AGM) of the Company will be held at the Conference Room, Ground Floor, 28 The Esplanade, Perth, Western Australia on Wednesday, 16 November 2022 at 10.00am (AWST).

Further information relating to the AGM, including the resolutions proposed and explanatory information in respect of such resolutions, is set out in the Notice of AGM which is available for download on GreenX’s website at: https://greenxmetals.com/investors/announcements/.

A Form of Instruction will be sent to all depository interest holders allowing them the opportunity to vote via proxy at the AGM.

For further information please contact:

Dylan Browne

Company Secretary

+61 8 9322 6322

info@greenxmetals.com

#TEK Tekcapital Plc – Lucyd – Global Licensing Agreement Nautica Brand

3rd October 2022 / Leave a comment

Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group is pleased to announce Innovative Eyewear, Inc. (“Innovative Eyewear”) (NASDAQ: LUCY; LUCYW), a developer and retailer of cutting-edge smart eyewear and a subsidiary of portfolio company Lucyd Ltd, has licensed the global lifestyle brand Nautica® for smart eyewear.

“The Nautica smart eyewear line will stay true to the brand essence of bringing the inspiration of the sea into smart eyewear that is modern and innovative,” says Harrison Gross, CEO of Innovative Eyewear, Inc. “Our Nautica® smart eyewear collection, powered by Lucyd®, will align perfectly with today’s lifestyle, as we believe consumers are looking for designer eyewear that allows them to reman connected to their digital lives.”

The Nautica smart eyewear collection is expected to launch for Holiday 2022 or soon thereafter.

About Nautica®

Nautica is a leading global lifestyle brand for men, women, and children, which includes home bedding collections. As a nautical-influenced classic American sportswear brand, we inspire and enable people to experience the joy of water. Nautica is one of the most recognized American brands throughout the world, with over 35 categories available in more than 65 countries with 76 Nautica stores and 291 International stores, and over 1,400 Nautica branded shop in shops worldwide. For more information, please visit https://www.nautica.com/.

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer and retailer of smart eyewear, which are designed to allow the users to remain connected to their digital lives, while also offering prescription eyewear and sun protection. The Company believes that traditional frames, no matter how attractive, do not possess the functionality that many eyeglass wearers need and want. Smart eyewear is a multifunctional product that addresses the needs of the optical, hearables and digital assistant markets. We believe that the Company’s products are well positioned in this rapidly growing wearables ecosystem, with the mission to Upgrade Your Eyewear®. For more information, please visit www.lucyd.co .

Tekcapital currently owns 100% of the share capital of Lucyd Ltd and 5,189,086 shares (approximately 71%) of its U.S. operating subsidiary, Innovative Eyewear, Inc.

For further information, please contact:

Tekcapital Plc		Via Flagstaff
Clifford M. Gross, Ph.D.

SP Angel Corporate Finance LLP (Nominated Adviser and Broker)		+44 (0) 20 3470 0470
Richard Morrison/Charlie Bouverat (Corporate Finance)/Abigail Wayne / Rob Rees (Corporate Broking)
Flagstaff Strategic and Investor Communications		+44 (0) 20 7129 1474
Tim Thompson/Andrea Seymour/Fergus Mellon

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed discoveries that can enhance people’s lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com .

#TYM Tertiary Minerals plc – Collaborative Agreement – Zambia Copper Projects

15th September 2022 / Leave a comment

Tertiary Minerals plc is pleased to announce that it has signed a Technical Cooperation Agreement (the “Agreement”) with First Quantum Minerals Limited (“FQM”) in connection with two of its copper exploration projects in Zambia.

Key Points:

· The Agreement covers Tertiary’s Mukai and Mushima North Project Interests (the “Projects”).

· The Mukai Project Exploration Licence is located in Zambia’s North-western Province and is directly adjacent to FQM’s Trident Project which includes the large Sentinel Copper Mine and the recently opened enterprise Nickel Mine.

· The Mushima North Exploration Licence, in the Kasempa District, is also in an active exploration area for FQM and is prospective primarily for iron-oxide-copper-gold (IOCG) mineralisation.

· FQM & Tertiary will establish a Technical Committee with the objective to work collaboratively with respect to advancing exploration and development of the Projects.

· The Technical Committee will advise and assist Tertiary in relation to all technical matters relating to the Projects.

· FQM will provide Tertiary with all of its historical exploration data for the two licence areas and Tertiary will submit its exploration results to the Technical Committee on an ongoing basis.

Commenting today, Executive Chairman Patrick Cheetham said:

“This Agreement will turbo-charge Tertiary’s Zambian exploration in these two key licence areas. We are set to benefit from FQM’s extensive and in-depth country experience, gained over many years of exploration and mine development in Zambia and, importantly, its site-specific historical exploration in and around these two exciting projects.

“For Tertiary, the Agreement will effectively harness the expertise of one of the world’s largest copper producers without the associated cost, and in return FQM will gain first-hand knowledge of any new discoveries that we make, and will be in pole position, should we seek an exploration or development partner in future. Nevertheless, it is important to stress that the Agreement does not bind either company to any further agreement or grant FQM any first rights of refusal and so is not commercially restrictive for Tertiary.

“We are grateful to FQM for proposing such a free-thinking arrangement and we look forward to working with their team.”

For more information please contact:

Tertiary Minerals plc:
Patrick Cheetham, Executive Chairman		+44 (0) 1625 838 679
SP Angel Corporate Finance LLP Nominated Adviser and Broker
Richard Morrison		+44 (0) 203 470 0470
Caroline Rowe
Peterhouse Capital Limited Joint Broker
Lucy Williams	+ 44 (0) 207 469 0930
Duncan Vasey

Market Abuse Regulation (MAR) Disclosure

Additional Information.

Tertiary is exploring in Zambia through local subsidiary Tertiary Minerals (Zambia) Limited (“TMZ”) which is 96% owned by Tertiary Minerals plc. TMZ has the right to acquire up to a 90% interest in the Mukai and Mushima North exploration licences from local company and licence holder Mwashia Resources Ltd.

Further details of Tertiary’s agreements with Mwashia are given in the Company’s news releases of 2 August 2021 and 18 November 2021.

Mukai Copper Project, 27066-HQ-LEL

Exploration Licence 27066-HQ-LEL covers 55.4 sq. km. and is located 125km west of Solwezi in the north-western Province of Zambia. Geologically it is in the Domes Region of the Central African Copperbelt and it encompasses Lower Roan Subgroup rocks which are part of the southern flank of the highly prospective Kabompo Dome.

The licence is directly adjacent to FQM’s Trident Project licences which include the recently opened Enterprise nickel mine and the large producing Sentinel (Kalumbila) copper mine, located 8km south and 18km southeast of the licence, respectively.

FQM has invested US$2.1 billion in the Sentinel copper mine where the plant has the capacity to treat 55 million tonnes of ore per annum.

The project is also located west of Arc Minerals project area on the opposite flank of the Kabompo Dome where Anglo American plc can earn a 70% interest from Arc Minerals plc through expenditure of US$88.5 million including US$14.5 in cash payments.

Mushima North Copper Project, 27068-HQ-LEL

Exploration Licence 27068-HQ-LEL covers 701.3 sq. km. and is located 100km east of Manyinga.

The licence encompasses basement rocks outside of the traditional Copper Belt and the region is a focus of exploration for copper-gold in so called Iron-Oxide-Copper-Gold (“IOCG”) deposits best exemplified by the giant Olympic Dam copper-gold-uranium deposit in South Australia.

The past producing Kalengwa copper mine is situated approximately 20km west of the licence and is believed to be one of the highest-grade copper deposits ever to be mined in Zambia. In the 1970s high grade ore in excess of 26% copper, making up approximately 20% of the orebody, was trucked for direct smelting at Copper Belt mines.

First Quantum Minerals Ltd (“FQM”)

FQM is a global copper company operating long life mines in several countries. It employs approximately 20,000 people world-wide.

FQM is ranked the sixth largest copper producer in the world and is forecasting global copper metal production of at least 790,000t in 2022.

Just under half of FQM’s copper production is expected to come from its Kansanshi and Sentinel mines in Zambia which together represent approximately 50% of total Zambian copper output.

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