Fundraise of £1.12m and Exercise of Options at 6p

12 September 2025

Blencowe Resources Plc

("Blencowe" or the "Company")

Fundraise of £1.12m including the Exercise of Board Options at 6p

Funds Provide Clear Runway to DFS Completion and Project Financing

Blencowe Resources Plc (LSE: BRES), the natural resources company advancing the Orom-Cross graphite project in Uganda, is pleased to announce that it has completed an aggregate fundraise of £1,120,000 through a placing of £1,020,000 and the exercise of Board options to raise a further £100,000.

The Company completed a placing of 21,473,683 new ordinary shares at a placing price of 4.75p to raise £1,020,000 (the "Placing"). The Placing was undertaken by the Company's broker, Tavira Financial Limited.

The Board and Senior Executive Management have exercised options at 6p, a premium to the placing price, through the issue of 1,666,667 new ordinary shares raising a further £100,000.

Use of Funds

The Company will deploy funds towards:

· Completion of the DFS, scheduled for delivery in Q4 2025

· Project financing work streams; and

· General working capital

The Net Proceeds are more than sufficient to complete the Definitive Feasibility Study ("DFS"), scheduled for publication in Q4 2025, while also providing a clear runway to advance project financing immediately thereafter, following the recent appointment of the Company's project finance adviser.

Investor Warrants

The Company will grant 1 warrant per 1 placing share, exercisable at 6.5p for a period of two years from Admission.

Broker Warrants

The Company has granted Tavira 1,263,158 broker warrants, exercisable at 4.75p for a period of three years from Admission.

Board Options

Cameron Pearce, Executive Chairman commented:

"This fundraise provides Blencowe with a clear runway not only to complete the DFS, which is expected in Q4 2025, but also to move directly into our project financing work streams. We are now entering a critical phase of value creation, with a JORC Resource upgrade, DFS results, financing preparations, and subsequent development all aligned.

The Board and Senior Executives have underlined their confidence by exercising options at a premium to market, and we thank both existing and new shareholders for their continued support. 

We expect a strong period of newsflow ahead, including first drill results from our successful infill campaign, a material JORC resource upgrade, and the DFS itself. Together these milestones will reaffirm Orom-Cross as a world-class graphite project, well positioned to secure the project finance required to build a mine."

Admission of Shares and Total Voting Rights

Application has been made for an aggregate of 23,140,350 new ordinary shares relating to the Placing and exercise of options to be admitted to trading on the Equity (Transition) category of the Official List and the main market of the London Stock Exchange, with admission expected at 8.00 a.m. on 17 September 2025 ("Admission").

In accordance with the FCA's Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company's issued share capital will comprise 365,525,827 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury.

Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA's Disclosure Guidance and Transparency Rules.

For further information please contact:

Twitter https://twitter.com/BlencoweRes

LinkedIn https://www.linkedin.com/company/72382491/admin/

Background

Orom-Cross Graphite Project

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger coarse flakes within the deposit.

A 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 following extensive historical work on the deposit. Blencowe has already completed a successful Pre-Feasibility Study on the Project and is now within the final stage of the Definitive Feasibility Study phase as it drives towards first production.

Orom-Cross presents as a large, shallow open-pitable deposit, with an initial JORC Indicated & Inferred Mineral Resource of 24.5Mt @ 6.0% TGC (Total Graphite Content). This Resource has been defined from only ~2% of the total tenement area which presents considerable upside potential ahead. Development of the resource is expected to benefit from a low strip ratio and free dig operations together with abundant inexpensive hydro-electric power off the national grid, thereby ensuring low operating costs. With all major infrastructure available at or near to site the capital costs will also be relatively low in comparison to most graphite peers.