Blencowe Resources Plc provided an update on the progress of the Orom-Cross Definitive Feasibility Study ("DFS"), and some of the expected activities in the current quarter. Highlights: Further 600 tonne bulk sample completed for shipment to China for commercial scale testing and further OEM testing of processed 99.95% purified SPG product. Testing to be carried out in first quarter of 2024.

Interest in Orom-Cross product has been high from various tier one battery off-takers. Strong support for Orom-Cross from Government of Uganda and specifically Ministry of Mines and Energy. Tenements and licenses in good standing, relations remain strong.

Next milestone for further grant funding from the US Government Development Finance Corporation is close to completion and will be announced once funds have cleared. DFS work continuing with activities in four countries, including Uganda, China, US and Australia. Further environmental work continues in parallel to infrastructure studies.

Downstream processing options which may provide transformational value opportunities continue to be explored. A further 600 tonnes of bulk sample graphite was mined at Orom-Cross in late 2023 in order to provide significantly more product for commercial scale testing in China, using the same graphite expert (Jilin) who had successfully completed the testing on the 100 tonne sample previously. This product will be shipped to China and testing will be done in first quarter of 2024 and the resultant concentrate will then be further processed to 99.95% purified product for OEM testing thereafter.

This remains an important, non-dilutive, source of funding for project work. DFS work will continue with activities continuing in four countries, including Uganda., China, US and Australia. further environmental work is also underway and will continue in parallel to infrastructure studies in-country.

Orom-Cross benefits from substantial key infrastructure already in place near to the project, including roads, communications and access to hydro-electric energy from the national grid. Further announcements in relation to DFS progress will follow as key deliverables are achieved. Test work on expandability of purified coarse flake product will also be finalised in first quarter of 2024 with a leading graphite technical expert in Chicago, USA.

This will determine the quality and characteristics of purified coarse flake end products as opposed to purified smaller flake products which were successfully tested in late 2023. Orom-Cross project has a strong mix of both coarse (+195) and smaller flake (-195) products, all of which are in demand.