Final Results

29 September 2016

BLENHEIM NATURAL RESOURCES PLC

("Blenheim" or the "Company)

Final Results for the year ended 30 April 2016

Blenheim is pleased to announce its final results for the year ended 30 April 2016.

Copies of the Company's annual report and financial statements for the year ended 30 April 2016 will shortly be sent to shareholders and will be available at the Company's website: www.blenheimnaturalresources.com

For further information please contact:

The information contained within this announcement is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.

CHAIRMAN'S STATEMENT

Challenging times persist for the natural resources sector, but I am pleased to report that Blenheim has finalised two transactions since the beginning of 2016 and the Company continues to explore opportunities for major transactions.

In February, the Company invested in IGS (International Geoscience Services) Limited ("IGS"). IGS is a company which was spun out of the British Geological Survey and, in addition to its global consulting business, has created IGS Xplore, a cutting-edge system for picking exploration targets from geoscientific data using a unique knowledge-based approach.

In August, Blenheim signed a Subscription Option Agreement with TAM Mining Limited, which holds the exclusive rights, via a local subsidiary, to a highly prospective large copper/gold project in the North Western Province of Zambia. At a cost to Blenheim of only £1, the option allows the Company to acquire 7.5% of TAM's equity by providing corporate and technical input.

The results for Blenheim for the year ended 30 April 2016 show a loss of £234,588 (2015: £252,123). A proportion of this loss relates to the further full impairment of the Company's investment in African Eagle Resources Plc ("AFE") of £82,345 (2015: £86,832). After AFE entered administration, as announced by Blenheim on 3 February 2016, the Company then endeavoured to acquire AFE as a shell and relist it in South Africa. After due diligence by the Company, it was not deemed economic to pursue this course of action.

Operating costs, including maintenance of the Company's AIM listing, were £175,227 (2015: £86,748), whilst changes in fair value of investments and profit on disposal of financial assets at fair value provided a net gain of £51,954 (2015: loss of £49,243).

We reiterate our stated strategy of making investments in "good value" companies and projects in the natural resources sector, technology associated with the natural resources sector, and in the agribusiness sector by way of cash and Blenheim stock. As an investment company, we are well positioned to take advantage of low valuations in these core sectors.

We continue to receive many investment propositions and we are confident that we will be able to make strategic investments to benefit Blenheim shareholders.

I look forward to providing the Company's shareholders with future updates.

Chris Ells

Chairman

28 September 2016

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 APRIL 2016

STATEMENT OF FINANCIAL POSITION

AS AT 30 APRIL 2016

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 APRIL 2016

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 APRIL 2016

NOTES TO THE FINAL RESULTS

1. ACCOUNTING POLICIES

General information

Blenheim Natural Resources Plc is a public limited company incorporated in England and Wales under the Companies Act (registered number 02956279). The Company is domiciled in the United Kingdom and its registered address is Hyde Park House, 5 Manfred Road, London, SW15 2RS. The Company's shares are traded on the AIM market of the London Stock Exchange.

Basis of preparation

These financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) and IFRS Interpretations Committee (IFRS IC) interpretations as adopted by the European Union and the Companies Act 2006 applicable to companies reporting under IFRS. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of available-for-sale financial assets and financial assets at fair value through profit or loss.

The Company is an investment entity and has therefore prepared its financial statement on this basis.

The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company's accounting policies.

The financial information set out in this announcement does not constitute the Company's statutory accounts for the year ended 30 April 2016 or the year ended 30 April 2015 under the meaning of Section 434 the Companies Act 2006 but is derived from those accounts. The annual report and financial statements for the year ended 30 April 2016 were approved by the Board of Directors on 28 September 2016 along with this announcement, but have not yet been delivered to the Registrar of Companies. The annual report and financial statements will be delivered to the Registrar of Companies following the Company's Annual General Meeting.

The auditor's report on the statutory accounts for the year ended 30 April 2016 is unqualified with an emphasis of matter paragraph. This emphasis of matter paragraph indicates the existence of a material uncertainty which may cast significant doubt about the Company's ability to continue as a going concern and notes that the ability to continue as a going concern is dependent on the Company's ability to raise funds, renegotiate the terms of its convertible loans, and generate returns from its investments.

The statutory accounts for the year ended 30 April 2015 have been filed with the Registrar of Companies. The auditor's report on the statutory accounts for the years ended 30 April 2015 was unqualified and did not contain a reference to any matters to which the auditors drew attention by way of emphasis without qualifying their report, and did not contain a statement under section 498(2) or 498(3) of the Companies Act 2006.

Going concern

The financial statements have been prepared assuming the Company will continue as a going concern. Under the going concern assumption, an entity is ordinarily viewed as continuing in business for the foreseeable future with neither the intention nor the necessity of liquidation, ceasing trading or seeking protection from creditors pursuant to laws or regulations.

The assessment has been made on the Company's anticipated activities which have been included in the financial forecast and in which Management has taken into account all available information for the foreseeable future, in particular for the 12 months from the date of approval of the financial statements. It also considers the Directors' assessment regarding the potential settlement of the convertible loan notes. The Directors carefully manage running costs and post year end, have reduced their fees in order to conserve cash resources.

Whilst the Directors remain actively cost conscious and value focused, the Company will still need to attract additional funding to meet its strategic goals.

To this end the Directors are in discussions with various parties in relation to potential acquisitions that have been identified and which are expected to contribute positively to cash flow in the short to medium term. The Directors are also looking at funding options, including the raising funds on the open market, to take advantage of acquisitions potentially available and to fund ongoing operations.

On this basis, the Directors have formed a judgement, at the time of approving the financial statements, that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason the Directors have adopted the going concern basis in preparing the financial statements.

Should the Company be unable to continue operations, adjustments would have to be made to reduce the value of the assets to their recoverable amounts, to provide for future liabilities which might arise and to reclassify non-current assets to current assets.

2. OTHER GAINS/(LOSSES) - NET

3. EARNINGS PER SHARE

Basic earnings per share is calculated by dividing the earnings attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the year.

Diluted earnings per share is calculated using the weighted average number of shares adjusted to assume the conversion of all dilutive potential ordinary shares.

Reconciliations are set out below.

On 30 October 2015 the Directors passed a resolution to undertake a sub division of the Ordinary Shares in issue at a rate of 100 for 1. Following the sub division the nominal value of each share became 0.10 pence per share from 10 pence per share. As a consequence the weighted average number of shares in the comparative has been restated.

In accordance with IAS 33 the share options in issue do not have a dilutive impact on earnings per share for the year ended 30 April 2016.

4. AVAILABLE FOR SALE FINANCIAL ASSETS

The above represents the Company's strategic equity holding in African Eagle Resources Plc and IGS (International Geoscience Services) Limited referred to in the Chairman's Statement.

5. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS

Financial assets at fair value through profit or loss are presented within 'operating activities' as part of changes in working capital in the Statement of Cash Flows.

Changes in fair values of financial assets at fair value through profit or loss are recorded in 'other gains/(losses) - net' in the Income Statement.

The fair value of all equity securities is based on their current bid prices in an active market.

6. CASH AND CASH EQUIVALENTS

7. SHARE CAPITAL

On 30 October 2015 the Directors passed a resolution to undertake a sub division of the Ordinary Shares in issue at a rate of 100 for 1. Following the sub division the nominal value of each share became 0.10 pence per share from 10 pence per share.

On 30 October 2015, 31,500,000 Ordinary Shares of 0.10p each were allotted as fully paid at a premium of 0.35 pence per share during the year.

On 17 December 2015, 80,000,000 Ordinary Shares of 0.10p each were allotted as fully paid at a premium of 0.70 pence per share during the year.

8. OTHER RESERVES

Merger relief reserve of £417,284 (2015: £417,284) arose in the period ended 31 December 1995 and relates to shares that were issued on a share for share basis in relation to the Langdon (Coffee & Tea) Limited transaction.

Shares to be issued comprise the equity component of the compound financial instruments issued in the past.

Share option reserve comprises the fair value at the date of grant share options and warrants issued in the year.

Borrowings represent convertible loan notes redeemable on or before 15 April 2017, following a change in the original redeemable date of 15 October 2016. The loan notes attract an interest charge of 6% per annum. If converted the loan notes can be exchanged for 1 ordinary share for every 0.65p of loan notes held.

The carrying amounts and the fair value of borrowings are as follows:

The carrying amounts of the Company's borrowings are denominated in UK sterling.

The convertible bond recognised at the year-end is calculated as follows:

The fair value has been calculated using discounted cash flows at a rate of 15% per annum.

10. SHARE-BASED PAYMENT TRANSACTIONS

The measurement requirements of IFRS 2 have been implemented in respect of share options that were granted after 27 May 2009. The expense recognised for share based payments made during the year is £8,163 (2015: £nil).

10,000,000 and 9,000,000 options were issued during the year ended 30 April 2016, exercisable at 0.80 pence and 0.65 pence, respectively. There are no vesting conditions and the options are exercisable any time up to 15 October 2018 and 5 April 2017 respectively.

Movement in issued share options during the year

The table illustrates the number and weighted average exercise price (WAEP) of, and movements in, share options during the year as follows:

The fair value of the options granted in the year have been calculated using the Black Scholes model assuming the inputs shown below: