Armadale Capital Plc announced further information on the assets relating to Africao American Incorporated ("AAI"), a company incorporated under the laws of the State of Idaho, the holding company of the Canyon Silver lead, zinc and silver exploration asset based in Northern Idaho, USA ("Canyon Silver"), as well as the Board's plan for future development of this asset. Historic production prior to the mine ceasing operations in 1972 was focused on the number three shaft which produced 25,000 tonnes of ore at a grade of 4 to 6 oz per tonne of silver, 6-13% lead and 2-4% zinc and exposed a further 48,000 metric tonnes of mineralisation within the main vein. The project has an additional three to four more veins to assess.

In 1984 four truckloads of hand sorted ore were trucked to a local mill and returned exceptionally high grades as follows: Three 25t truck loads averaged. 36 oz/t Ag, 66% Pb and 10% Zn; One 25t truck load averaged. 50% Zn, 8 oz/t Ag, and 8% Pb.

The high grade mineralisation near existing mine infrastructure presents a possible opportunity to unlock future cashflow for Armadale as the company progress renovations of the existing mine infrastructure and advance the exploration prospects. Work Programme: The management of AAI will approve a detailed work programme and budget with mining contractors. who have all the equipment, personnel, licenses, training programs and contacts to cater for all the work planned at Canyon Silver, including small underground and surface drill rigs which drill to 150m; which is more than sufficient for Phase 1 drilling.

The main objectives at this time are to fully open and renovate the two main ore carrying tunnels. Tunnel No. 2 was a Formosa vein only and extends 97 Metres into the mountain side with the last 67 Metres believed to have lead, zinc and silver mineralisation.

This may be confirmed when the tunnel is opened and extensive samples have been taken. Armadale's first task is to clean out any loose rock and sample, measure and model the vein seen in the hanging and footwall to ascertain the grades. Tunnel No.

3 went 137 Metres into the mountain before intersecting the Formosa vein it followed for over 60 Metres, stopping much of the ground above it along the way. Eventually No. 3, which was still following mineralisation, encountered an additional large, low grade orebody about 30 metres inside the mountain - demonstrating additional potential for the deposit.

Canyon Silver has three tunnels, with shafts extending to veins located below surface at the following depths: 42 Metres, 73 Metres, 124 Metres, 182 Metres, 243 Metres. With the shaft vein being the only part previously mined, Armadale is in position to take advantage of the available development, whilst further exploring for additional resources. The East and South veins remain open, with four more veins above adit level.

Armadale recently announced the addition of Greg Entwistle to the Board, who has a tremendous track record in building and operating mining projects - experience that will help move towards production, and a cashflow positive position for shareholders. Armadale continues to look at ways to reduce the burden on shareholders, as continue to benefit from material cost savings on infrastructure at Mahenge. The Canyon Silver Project is another string in bow to help reduce reliance on future dilutions to build cashflow.