Company Announcements

7 November 2024

Bezant Resources PLC

("Bezant" or the "Company")

Commencement of Optimisation and Geotechnical Drilling at Hope & Gorob Copper - Gold Project, Namibia

Following the recent granting of a Mining Licence M246, subject to statutory approval (the "Mining Licence"), and the renewal of adjoining exploration licences Bezant Resources ("Bezant" or the "Company") is pleased to announce it has commenced a drill programme on the Hope & Gorob deposit located in Namibia in which Bezant holds a 70% interest.

Highlights

·     Large diameter diamond core drilling is aimed at providing fresh mineralisation samples for ore sorting optimisation and modulation work and the collection of drill core for geotechnical assessment.

·     Final external review of operating facilities has been completed by specialist consultants and subsequent reports are expected to confirm capital cost estimates and proposed metallurgical flow sheets.

·     External metallurgical engineers have also been requested to provide plant configuration, operation options that would allow for an increase in plant throughout capacity.   

·     The Company will be placing adverts nationally to ensure all Namibians are able to apply for a wide range of employment opportunities.

Colin Bird, Executive Chairman of Bezant, commented "Following the issuing of the Mining Licence and ahead of completion of other statutory requirements, we are advancing all the underlying matters required to bring a mine into production and we are taking the opportunity to closely define the start point for the initial pit entry onto the Hope deposit. The objective is to maximise early cash flow as much as possible by predicting ground conditions and associated factors that might impact on mining and the optimisation and modulation of the various ore sorting technologies that will be applied.

The tasks are numerous and intensive, and the team should be complemented on the pre-licence work completed. This excellent progress to date has condensed and focused our programmes and more importantly defined critical paths. We also look forward to continuing exploration on our southern Matchless exploration licences that total more than 70km strike length, 17km of which occur within the Hope and Gorob Licence".

For further information, please contact:

or visit http://www.bezantresources.com

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 as it forms part of UK Domestic Law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310).

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.