Company Announcements

Alba Mineral Resources Plc / EPIC: ALBA / Market: AIM / Sector: Mining

13 October 2025

Alba Mineral Resources Plc

("Alba" or the "Company") 

Operational Update

Alba Mineral Resources plc (AIM: ALBA), the gold and critical raw materials focused exploration and development company, is pleased to provide this operational update across its project portfolio.

Motzfeldt Critical Metals (Greenland)

As previously announced, Alba has agreed to acquire a 51% interest in the Motzfeldt Critical Metals Project in south Greenland. 

The current status of works in relation to Motzfeldt is as follows:

·      A mini-bulk sample (~300kg) has been selected from the 2.5t bulk sample previously collected from the Aries deposit. This has been crushed at SLR's Wheal Jane facility in Cornwall and now awaits shipment to South Africa for the start of a comprehensive mineralogical and metallurgical test programme.

·      The data from the hyperspectral drone survey carried out in the past summer is being worked on at St Andrews University, with whom Alba and the operator, Elemental Rare Metals Ltd, are collaborating, with results expected shortly. A student on the PhD programme at St Andrews University will be working exclusively on the Motzfeldt Project for the next three years, almost entirely funded by the UK's TARGET funding programme.

·      The Company has been reviewing the funding programmes for which Motzfeldt may be eligible, with a view to ensuring that applications are ready to be made as new funding rounds open.

Finnsbo (Sweden)

As previously announced, the Company is earning an interest in the Finnsbo copper-gold-rare earths project in Sweden.  The status of the drilling programme is as follows:

·      Applications for consent for drilling have been submitted to the Municipality and the landowner.

·      A pre-drilling site inspection is scheduled for the week of 13 October.

·      Subject to receipt of consents on a timely basis, mobilisation for drilling is anticipated by the first half of November.

Clogau Gold Mine (Wales, UK)

As previously announced, recent work at Clogau has focused on implementation of the recommendations of HM Mines Inspector following a recent periodic visit.

The status of these works is as follows:

(a) Works completed or due for completion w/c 13 October:

-     Independent survey, report & plans in respect of ventilation system.

-     Independent survey & report in respect of ground conditions and support design.

-     New ladderways and safety gates installed.

-     New safety platforms between L4 and L5.

-     Creation of new second egress.

-     Shaft 2 second winch installation and water inflow diversion.

(b) Works to be completed by the end of October.

-     Independent mine survey of lower levels and integration with ventilation plan.

-     Enclosure for shaft 1 hoist cable and interlock system.

-     Work on Shaft 1 doors and Shaft 1 remediation.

-     Shaft skip modifications.

-     Shaft 2 head sheave support modifications and testing.

The overall timeline for the completion of these works has had to be extended due to the limited availability of specialist contractors.

The Company is now anticipating the start of the next phase of blasting in the first half of November.

Company Comment

George Frangeskides, Alba's Executive Chairman, commented:

"We are pleased to report on progress across our project portfolio. We now enter into a key period of time where we anticipate both blasting at Clogau and drilling at Finnsbo in the coming month.

"As for Motzfeldt, in the past week China has announced new export controls on five additional rare earth elements. With China already refining over 90% of global rare earths, this latest development underscores the importance of secure and diversified supply chains for critical minerals vital to electric vehicles, wind turbines and defence technologies. At Alba, our move into rare earth and critical mineral projects in Greenland and Sweden is aligned with the UK and EU's strategy to build resilient and responsible sources of raw materials for the energy transition."

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market, financial and business conditions, competition for and availability of qualified staff and contractors, regulatory processes and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company's or any third party's ability to finance, execute and implement future plans and programmes, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

**ENDS**

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