Silverking Project Drilling Update

2 May 2025

For immediate release

Xtract Resources Plc("Xtract" or the "Company")

Silverking Project Drilling Update

The Board of Xtract Resources Plc is pleased to report further assay results for the second batch of diamond drillholes completed on the Silverking Project located in the Mumbwa District of the Central Province of Zambia. Silverking is subject to an option and joint venture agreement ("Joint Venture") with Oval Mining Limited, enabling Xtract to earn-in up to a 70% interest in the Silverking copper mine and accompanying exploration licence located in the Mumbwa District of the Central Province of Zambia. 

Highlights

· Continued high-grade copper and silver intercepts over significant mineralised widths.

· Borehole SKIDD004: 1.50% Cu & 20.25g/t Ag over 40.2m from 71.80m

· Borehole SKIDD005: 4.73% Cu & 55.08g/t Ag over 3.7m from 68.0m.

· Borehole SKIDD005: 0.58% Cu & 2.31g/t Ag over 27.0m from 107.0m.

· Borehole SKIDD006: 0.56% Cu & 10.33g/t Ag over 3.3m from 69.0m.

· Strike length of the mineralised trend now extended to more than 160m in length.

· Metallurgical test work now extended to include upgrading and pre-concentration of lower grade footwall and hangingwall mineralisation using gravity processes (spirals and jigs) to generate a pre-concentrate for final processing at a centralised facility.

· Amenability of lower grade mineralisation has the potential to materially increase production tonnage and copper output subject to successful test work.

Colin Bird, Executive Chairman of Xtract, commented: "The latest results have doubled the strike extent of the high-grade mineralisation to more than 160m. We will continue to step out drilling until we reach the limits of mineralisation and at the same time will continue to test the depth of mineralisation with selected deeper drilling to approximately 400 vertical metres. The scope of the metallurgical test work has been expanded and we are working with metallurgical engineers that have had very exciting results upgrading lower grade copper mineralisation through conventional gravity processing to produce a pre-concentrate for suitable final concentration processes. This could be significant as our high-grade orebody is typically associated with a lower grade mineralised envelope that may be treatable offering additional copper production. We will continue to update shareholders as new assay data is generated".

Drilling Results

The assay results for the first 6 diamond drillholes completed on the Silverking Project located in the Mumbwa District of the Central Province of Zambia (including those notified on 29 April 2025) are set out in the Table below:

Qualified Person:

Colin Bird: The technical information contained in this announcement has been reviewed, verified, and approved by Colin Bird, C.Eng, FIMMM, South African and UK Certified Mine Manager and Director of Xtract Resources plc, with more than 40 years' experience mainly in hard rock mining.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). The person who arranged for the release of this announcement on behalf of the Company was Colin Bird, Executive Chairman and Director.

Further information is available from the Company's website which details the company's project portfolio as well as a copy of this announcement: www.xtractresources.com

For further information, please contact: Xtract Resources PLC

Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.

Technical glossary

ENDS