Blencowe Resources Plc (LSE: BRES) is pleased to provide an update on further assay results from shallow drilling at the company’s new Beehive deposit.  Both Beehive and Iyan are substantial new exploration finds within the most recent 2025 drill programme and both will contribute significantly to the size and scale of the Orom-Cross graphite project.

As part of the Stage 7 drilling programme, the Company completed 110 shallow drill holes at Beehive, designed to test the continuity, thickness and near-surface extent of graphite mineralisation. This announcement reports further assay results from 36 holes (including additional coverage toward the northern extent), following the Company’s previous Beehive assay update.

The shallow programme was designed to define near-surface, bulk mineable graphite mineralisation, with holes drilled to a planned depth of approximately 30 metres. The majority of reported holes intersected graphite mineralisation from near surface to end-of-hole, with many holes ending in mineralisation, highlighting potential for continuation below the current shallow drilling depth.  This is consistent with previously reported deeper drilling at Beehive, which demonstrated graphite mineralisation continuing to approximately 100 metres depth.

Whilst the drilling was intended to close out the northern extent of the deposit, results also indicate potential for additional extensions of up to ~400m – particularly toward the northern and western end of the deposit – within the broader target area.

Beehive Drilling Highlights

An additional 36 assay results were received and compiled from the Stage 7 programme:

• Thick near-surface mineralisation: multiple holes deliver ~30–32 meters mineralisation from surface, supporting depth continuity and bulk mining potential.
• Strong bulk grades across the batch: 12 holes average ≥5.0% TGC and 8 holes average ≥6.0% TGC over the drilled intervals highlighting strong in situ grades within Beehive.
• High-grade frequency: all holes are mineralised and grades are consistently higher than overall average grades for other deposits within Orom-Cross.

Selected Beehive Significant Shallow Intercepts Include:

• BHDD-L101: 31.5 meters @ 8.19% TGC from surface
• BHDD-L111: 31.4 meters @ 8.00% TGC from surface
• BHDD-L327: 31.2 meters @ 7.67% TGC from surface
• BHDD-L113: 31.92 meters @ 7.59% TGC from surface, including 9.32m @ 11.14% TGC
• BHDD-L133: 31.4 meters @ 6.83% TGC from surface
• BHDD-L102: 29.61 meters @ 6.11% TGC from surface
• BHDD-L325: 31.3 meters @ 6.21% TGC from surface

Interpretation and Next Steps

These additional shallow results continue to support a thick graphite system at shallow depths, while previously reported deeper drilling has demonstrated mineralisation continuing to approximately 100 metres depth. Together, this work is building the dataset required to define the near-surface component and progress modelling toward a maiden Beehive JORC Mineral Resource scheduled for Q2 2026.

Further Beehive assay batches are being passed directly to the Company’s independent geological consultants, Minrom, for validation and quality assurance. Results will be reported progressively as batches are cleared and, subject to modelling, are intended to support a future Beehive JORC Mineral Resource update and provide further clarity on overall scale and development readiness as Blencowe continues to progress strategic and funding discussions in parallel.

Beehive has been defined over approximately 1,200 metres of strike and 480 metres of width to date, with scope for extensions beyond the current drill lines.

Blencowe Resources Executive Chairman, Cameron Pearce commented:

“We are pleased to report a further batch of Beehive assay results and appreciate shareholders’ patience as results move through laboratory reporting and independent validation. We expect a further set of assay results to become available shortly and will provide updates as batches are cleared.

Beehive continues to build momentum. This further batch reinforces continuity at shallow depths, with multiple plus-30 meter intercepts from surface and standout results including 31.5m @ 8.19% TGC and 31.4m @ 8.00% TGC.

Following the recent maiden Iyan JORC Mineral Resource of 16.9 million tonnes, which increased total Orom-Cross JORC Mineral Resources by 66% to 43.0 million tonnes, Beehive remains the next clear growth lever as we progress toward a maiden Beehive JORC Mineral Resource update this quarter. We would expect the continuity and thickness being demonstrated at Beehive to translate into a material increase in overall tonnage, subject to completion of assay flow, modelling and JORC reporting.

With access to renewable hydroelectric power and an expanding resource base, Orom-Cross continues to be positioned as an integral part of the western markets’ drive for secure, non-China critical mineral supply chains, supporting downstream pathways and longer-term offtake discussions.”