Announcement • Jul 23
Xtract Resources Plc, Annual General Meeting, Aug 14, 2026 Xtract Resources Plc, Annual General Meeting, Aug 14, 2026. Location: the offices of druces llp, 6th floor, 99 gresham street, ec2v 7ng, london United Kingdom Announcement • Jul 10
Xtract Resources plc Commences Production At Silverking Copper-Silver Project Xtract Resources Plc announced the commencement of initial production at the Silverking copper-silver project in Zambia. The Project is operated through a joint venture with Oval Mining Limited, holder of Small-Scale Mining Licence 34544-HQ-SML in the Mumbwa District of Zambia, and Cooperlemon Consultancy Limited. Oval, the operator, has commenced the processing of mixed oxide-sulphide ore through the Joint Venture's flotation plant. Oval has recently upgraded the plant to support increased capacity and is targeting an optimised throughput rate of 28 tonnes per hour. Sufficient sulphide mineralisation is present within the near-surface mineralised section of the orebody to support direct flotation. The oxide component is also proving treatable through the addition of reagents, making the run-of-mine feed amenable to flotation. Further reagent trials are underway with the objective of stabilising concentrate grade, which is currently fluctuating between 20% and 35% Cu, at an optimised target grade of 28% Cu. Run-of-mine grade from the upper section of the orebody is currently between 0.80% and 1.1% Cu and 11 to 68 g/t Ag. High-grade bornite-rich vertical plug defined by drilling from 60m to at least 140m depth, enveloped by a 200m by 110m chalcopyrite-rich envelope projected to about 170m depth. Two substantial chalcocite-bornite vein systems identified crosscutting the main body, with potentially mineable widths. Oxide/sulphide mineralisation extends from surface to 60m over the deposit centre and to 135m northwest of the core mineralised zone. Mineralisation remains open at depth, with drilling intersections including 4m at 7.67% Cu and 63.5g/t Ag in hole SKIDD018 from 228m downhole supporting planned deeper drilling to approximately 350m vertical depth. A decline is under evaluation based on in-house deposit modelling to access the high-grade core at depth, with final mine planning to be informed by upcoming drilling results. A total of 895 diamond drill hole core samples, 131 partial assays from trench sampling and 281 partial assays from blast hole sampling was utilised in modelling of the deposit, with 81 trench samples and 312 blast hole sample results still outstanding. Total copper assays were determined by ICP-OES and reported up to an upper detection limit of 10%. Of the total samples, 19 samples reported greater than 10% total copper. Seven of these samples were send for high grade analysis by AAS, returning values up to 41.96% total copper. Silver assays were also determined by ICP-OES and reported to an upper detection limit of 100ppm (g/t). 21 samples returned values greater than the upper limited of detection. Further potential exists that will be evaluated by the Company. This will include testing depth extension to the main body and ground geophysical studies to define the limits of other discrete mineralised bodies that have been identified within the licence. Information in this announcement related to drilling results has been reviewed by Edward (Ed) Slowey, BSc, PGeo, Technical Advisor to Xtract. Silverking is subject to operational risks in respect of the performance of the plant and grade of run-of-mine ore. Shareholders should note that production at Silverking has only just commenced, and accordingly, until optimisation including further reagent trials have been completed, there can be no assurance of what the steady state production will be in terms of throughput rate per hour, or production of concentrate tonnage and grade. A further announcement will be made in due course. New Risk • Jul 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (UK£14.0m market cap, or US$18.6m). 
