Blencowe Resources Plc reported significant progress on the Definitive Feasibility Study ("DFS") works for the 100%-owned Orom-Cross graphite project in Uganda including commencement of the 600 tonne bulk sample test work at the Jilin Huiyang New Material Technology Company Ltd. ("Jiliin") facility in China. Highlights: Bulk Sample Processing - commencement of the 600-tonne commercial scale processing at Jilin in China marks a significant step forward for Orom-Cross DFS. Off-take Agreements Progress - senior management and potential offtake partners to meet during April 2024 to advance off-take discussions following strong interest in the large-scale test work, samples delivered to date, and Orom-Cross products across the board.

Final Sample Delivery - both 96% concentrate and 99.95% spheronised purified graphite ("SPG") provided from this latest bulk sample testing are expected to be delivered in second quarter of 2024 to potential off-taker parties in sufficient quantity for review, leading to product qualification and ultimately contracts. Following the delivery of the 600 tonne bulk sample materials to China, processing has commenced at the Jilin facility. This same facility previously conducted successful bulk metallurgical test work for Blencowe on the 100-tonne Orom-Cross sample in 2023.

Blencowe plans to utilise this product to generate large volumes of both 96% concentrate and 99.95% uncoated SPG product for final qualification with potential off-take partners. This process aims to maintain the same consistently high quality as previously delivered via this commercial-scale production process in 2023. Senior management will visit both China and South Korea over the next few weeks to continue discussions on offtake agreements.

Strong interest has been shown to date and Blencowe is confident that this will continue with the ongoing large-scale test work.