Announcement • Aug 16

Xtract Resources Plc Announces Positive Phase 2 Metallurgical Test Work Results For Amghas Antimony Mine

Xtract Resources Plc announced positive Phase 2 metallurgical test work results for the Amghas antimony mine development, confirming further technical progress and supporting the Company's strategy to advance Amghas towards commercial production. Wildstone SARL, Xtract's 80% owned venture, completed the programme through the Afrilab Group, a Moroccan-based specialist in mineral analysis, which undertook a comprehensive suite of flotation-based test work designed to optimise antimony recovery and improve final concentrate quality. The results indicate that Amghas has the potential to produce a high-grade antimony concentrate exceeding the required 55% Sb threshold. Lead ("Pb") present in the host mineralisation, which could otherwise be treated as a deleterious element and attract penalties in the final concentrate, has been successfully removed from the antimony stream and converted into a separate saleable product. The flotation study tested the impacts of pH, depressants, collectors, desliming and hydrometallurgy on representative ore from Amghas. The Phase 2 flotation studies have been undertaken in parallel with the ongoing development of a gravity plant at Amghas. The gravity plant is expected to provide early cash flow and a practical proof of concept while the Company progresses the environmental permitting, construction and commissioning requirements for a flotation plant. Upon commissioning of the flotation plant, the gravity plant will be relocated to other licences held and operated by Wildstone to provide an interim processing solution and to treat and upgrade low-grade antimony-bearing ore sold to the Company by regional artisanal mining groups. Alkaline leaching using sodium sulphide ("Na2S") solubilised antimony while leaving lead ("Pb") mineralisation in the leach residue, removing more than 99% of Pb from the antimony stream. Antimony recovery in the final concentrate was not dependent on ore grind size, with no material difference observed between 160- and 100-micron grind sizes. The test work routinely produced an antimony concentrate grading more than 55% Sb. Further test work to optimise recovery will include pH studies to activate antimony, additional desliming and increasing the alkaline leach residence time. Studies will take place in a pilot plant located in Rabat, Morocco and managed by the Afrilab Group. The Phase 2 results provide the Company with sufficient confidence to advance a conceptual flowsheet design for submission to its preferred engineering group, supporting the next stage of float plant design and the preparation of estimated capital and operating costs based on the Company's preferred throughput rate for future Amghas mine production.

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Xtract Resources Plc has filed a Follow-on Equity Offering in the amount of £2.1 million.

Xtract Resources Plc Announces Positive Phase 2 Metallurgical Test Work Results For Amghas Antimony Mine

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