Kendrick Resources Plc announced new vanadium assay results from its diamond drill programme over the Airijoki Vanadium Deposit in Vittangi, Sweden. The combination of a JORC Mineral Resource, new positive assay results and access to a further 5 contiguous exploration licences expected to generate additional vanadium (and copper) targets for follow up and possible future expansion of the current vanadium resource, has initiated the next step in the development of the Company's vanadium programme. The immediate emphasis will be to switch from further drilling to expanding the Mineral Resource, to focusing on the development and implementation of an appropriate strategy to build a sustainable vanadium business, this does not preclude future ongoing exploration.

But in the meantime will be looking to build strategic alliances with both iron ore and vanadium miners and processors, together with an alignment with end users of vanadium, principally in the Vanadium Redox battery sphere. Operating to the highest possible standards, the Company aims to become a significant contributor to the supply of vanadium in the Scandinavian battery arena. Kendrick Resources Plc has received geochemical results from all the diamond drill holes completed at Airijoki towards the end of 2023 with all but one hole intersecting Vanadium mineralisation.

The eight hole 1,394m scout diamond drilling program in the Airijoki 200 license is located immediately to the northeast of the Airijoki 100 license in which the 44.3Mt JORC compliant Inferred Vanadium resource is estimated. The whole rock, as well as results for vanadium magnetite concentrates, produced by Davis Tube Recovery, confirm the possibility to extend the current JORC compliant inferred Vanadium resource to the north for approximately a further circa 2 km. A subset of 712.7 metres was forwarded to ALS Scandinavia AB for processing.

After core logging, the selected drill core intervals were sent to the ALS laboratory in Malå, Sweden for preparation and analysed at ALS Loughrea, Ireland.