Interim Accounts, six months ended 30 June 2019

Herencia Resources plc

("Herencia" or the "Company")

Interim Accounts for the six months ended 30 June 2019

Herencia Resources plc is pleased to announce its interim accounts for the six months ended 30 June 2019 as set out below. A copy of the Interims is available on the Company's website www.herenciaresources.com.

Chairman's Statement

Dear shareholders,

It is with great pleasure to share with you the interim results for the six months ended 30 June 2019.

Firstly, I would like to thank the small but professional team at Herencia Resources for their ongoing hard work for our shareholders.

Our focus is to:

·; Use our available capital resources to fully explore the Group's copper projects in Chile;

·; Identify new exploration projects in South America;

·; Recapitalise the Company;

·; Review our current supplier and terms of business;

·; Turn around the Company's share price.

Financial and Statutory Information

The Group had an operating loss of £145,000 for the six months. The Group received continued financial support from our major shareholders throughout the year. The Group is committed to reduce its debts and invest as much capital as possible into exploration activities.

Outlook

The Group is focused on the development of its exploration projects in Chile. Management has also been searching for new exploration projects in South America in Copper and Gold.

We thank shareholders for their ongoing support and welcome any questions they may have.

Jeff Williams

Non Executive Chairman

23 August 2019

For further information please contact:

Jeff Williams, Herencia Resources plc +61 418 594 324

Carl Dumbrell, Herencia Resources plc +61 402 277 282

About Herencia Resources plc.

Herencia Resources plc. is a UK AIM quoted independent copper / gold exploration company focused on exploration in Chile. Further information is available on the company website: www.herenciaresources.com The Interims are set out below:

Herencia Resources Plc

Condensed Consolidated Statement of Comprehensive Income

For the period ended 30 June 2019

The results shown above relate entirely to continuing operations.

Herencia Resources Plc

Condensed Consolidated Statement of Financial Position

At 30 June 2019

Herencia Resources Plc

Condensed Consolidated Statements of Cash Flows

For the period ended 30 June 2019

Herencia Resources Plc

Condensed Consolidated Statement of Changes in Equity

For the period ended 30 June 2019

Herencia Resources Plc

Notes to the Financial Information

1. General Information and principal activities

Herencia Resources plc (The "Company") was incorporated in the United Kingdom with Company Number 05345029. The registered office of the company is 59-60 Russell Square, London WC1B 4HP

This financial information is for the company and its subsidiaries undertakings (together, the "Group"). The principal activities of the entities of the group are as follows:

The principal place of business of the group is in the United Kingdom. The interim consolidated financial information is presented in the nearest thousands of pounds sterling (£'000), which is the presentation currency of the group.

2. Basis of preparation

The interim consolidated financial information for the six months ended 30 June 2019 and 30 June 2018 has been prepared in accordance with IAS 34, interim Financial reporting which are unaudited and do not constitute a set of statutory financial statements.

The principal accounting policies used in preparing the interim results are the same as those applied in the Group's Financial Statements for the year ended 31 December 2018, which have been prepared in accordance with internationals financial reporting standards as adopted by the European Union ("IFRS"). The auditor's report on those accounts was unqualified with an emphasis of matter on going concern.

A copy of the audited consolidated financial statements for the period ended 31 December 2018 is available on the company's website.

Going concern

The consolidated financial information has been prepared on a going concern basis.

In considering the appropriateness of the basis of preparation, the directors have reviewed the group's working capital forecast for a minimum of 12 months from the date of the approval of these financial statements. As at 30 June 2019, the group had £6,833 of available cash. The company proposes to conduct further exploration activities at its Chilean projects and accordingly, will need to raise additional funds before the end of 2019 to maintain sufficient cash resources for its working capital and particularly, continue its efforts to reduce outstanding obligations.

The Directors have a reasonable expectation that the Group has adequate access to resources to continue in operational existence for the foreseeable future and continue to meet, as and when they fall due, its planned exploration and development activities and other liabilities for at least the next twelve months from the date of approval of these financial statements. For this reason, the Directors continue to adopt the going concern basis in preparing these financial statements.

The interim report for the six months ended 30 June 2019 was approved by the directors on 23 August 2019.

3. Critical accounting estimated and sources of estimation uncertainty

In applying the accounting policies, the directors may at times be required to make critical accounting judgments and estimates about the carrying amounts of assets and liabilities. These estimates and assumptions, when made, are based on historical experience and other factors that the directors consider are relevant.

The key estimated and assumptions concerning the future and other key sources of estimation uncertainty at the end of the financial year, that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are reviewed are as stated below:

4. Earnings per share

Basic EPS amounts are calculated by dividing the loss for the year attributable to equity holders of the Group by the weighted average number of ordinary shares outstanding during the period.

Diluted EPS amounts are calculated by dividing the loss for the year attributable to equity holders of the Group by the weighted average number of ordinary shares outstanding during the period plus the weighted average number of ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary shares.

The following reflects the income and share data used in the basic and diluted EPS computations:

The diluted loss per share was not applicable as there were no dilutive potential ordinary shares outstanding at the end of the reporting period.

Director Loans and Related Party Transactions

No other related party transactions have occurred during the period.

The ordinary shares have a par value of £0.0001 per share and are fully paid. These shares carry no right to fixed income and have no preferences or restrictions attached to them.

On 1 August 2019 the company has received financial support from its major shareholders as convertible loans for US$300,000. The conversion price into ordinary fully paid shares will be at the "Next Placement Price".

13. Contingent liabilities and capital commitments

There have been no changes to the contingent liabilities capital commitments as disclosed in the most recent annual financial report.