30 May 2022                 
Blencowe Resources Plc
(“Blencowe” or the “Company“)

Highlights

• Blencowe commences exploration program at synergistic nickel sulphide project
• Substantial 3,200-line kilometres of survey to be conducted
• Partnering with highly regarded Airborne survey firm in SkyTEM Aps
• Targeting increased definition of several targets identified in project data review

Blencowe Resources Plc (“Blencowe Resources” or the “Company”) (LSE: BRES) is pleased to announce the commencement of an Airborne Electro-Magnetic (AEM) survey over leases associated with the Akelikongo Nickel Project in Uganda. As part of the farm-in arrangements for this highly prospective asset, Blencowe has commissioned SkyTEM Surveys Aps to undertake High Definition AEM over several prospective areas on the leases. The program will consist of approximately 3,200-line kilometres of survey to be flown by helicopter on a 200m spacing. The survey will add significant additional information to assist the company in targeting both extensions to the existing defined mineralised lenses and better define targets identified by the Company in view of the previous work undertaken in the region.

SkyTEM Surveys Aps has undertaken many similar projects in Africa and worldwide and this extensive experience is being leveraged by Blencowe to progress the project. The survey program is expected to run for 2 weeks.

Cameron Pearce, Executive Chairman commented;

“We are delighted to commence work on the Akelikongo nickel project so soon after picking up this asset in the first quarter 2022.  We are well aware of the increasing demand for nickel both now and forecast ahead.  Nickel is a key input metal to lithium-ion batteries and as a result it will likely remain in high demand for a long period ahead, and the current exceptional prices for nickel reflect that demand, as well as potential shortages that might emerge as a result of Russia, one of the worlds’ largest nickel producers, involved in a protracted war and resultant sanctions.

Our task at Akelikongo is to expand on the good work initially delivered by SIPA and Rio Tinto in order to broaden the mineralised zone.  This AEM work being conducted will highlight further areas of interest that our experienced team of geologists will then consider for a further drilling program expected in 3Q 2022.”