REG - 80 Mile PLC - Government Approves Transfer of Ownership of Disko

80 MileAnnouncement

31/07/2025 07:01

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RNS Number : 3635T  80 Mile PLC  31 July 2025

31 July 2025

Government Approves Transfer of Ownership of Disko

80 Mile PLC ('80 Mile' or the 'Company'), the AIM, FSE, and OTC listed
exploration and development Company, announces that the Company has now
received government approval for the indirect transfer of ownership of Nikkeli
Greenland A/S ("Nikkeli"), the company which holds the licences for the
Disko-Nuussuaq Ni-Cu-Co-PGE-Au project in West Greenland ("Disko"). On 1
January 2025, 80 Mile increased its ownership interest in Nikkeli, and by
extension, Disko, from 49% to 100%.

The Company is committed to advancing the Disko-Nuussuaq project, and remains
confident of its potential. 80 Mile is currently in discussion with multiple
partners in order to advance the project further, and this remains a priority.
The Company hopes to make a further announcement on this in due course.

 

For further information please visit http://www.80mile.com
(http://www.80mile.com/)  or contact:

 Eric Sondergaard                                  80 Mile plc                          enquiry@80mile.com
 Ewan Leggat / Adam Cowl                           SP Angel Corporate Finance LLP       +44 (0) 20 3470 0470

(Nominated Adviser and Broker)
 Harry Ansell / Katy Mitchell / Andrew de Andrade  Zeus Capital Limited (Joint Broker)  +44 (0) 20 3829 5000
 Megan Ray / Said Izagaren                         BlytheRay                            +44 (0) 20 7138 3204

(Media Contact)

                                                                                        80mile@blytheray.com (mailto:80mile@blytheray.com)

 

About 80 Mile Plc:

80 Mile Plc, listed on the London AIM market, Frankfurt Stock Exchange, and
the U.S. OTC Market under the ticker BLLYF, is an exploration and development
company focused on high-grade critical metals in Tier 1 jurisdictions. With
multiple projects in Greenland, as well as a developing industrial gas and
biofuels business in Italy, 80 Mile offers both portfolio and commodity
diversification focused on base metals, precious metals, and industrial gas
while expanding into sustainable fuels and clean energy solutions in Tier 1
jurisdictions. 80 Mile's strategy is centred on advancing key projects while
creating value through partnerships and strategic acquisitions.

80 Mile's recent acquisition of White Flame Energy and the Jameson licenses
expands its portfolio into the energy and gas sector, adding large-scale
licenses for industrial gas, natural gas, and liquids in East Greenland.
Approved by shareholders in July 2024, this acquisition diversifies the
Company's assets and aligns with its strategy to contribute to sustainable
energy solutions, while also exploring conventional energy resources.

The Disko-Nuussuaq nickel-copper-cobalt-PGE project in Greenland is a primary
focus for 80 Mile, 100% owned by 80 Mile PLC. Seven priority targets
exhibiting spatial characteristics indicative of potential deposits on a scale
comparable to renowned mining operations such as Norilsk, Voisey's Bay, and
Jinchuan, will be advanced by the Company.

The Dundas Ilmenite Project, 80 Mile's most advanced asset in northwest
Greenland, is fully with a JORC-compliant Mineral Resource of 117 Mt at 6.1%
ilmenite and an offshore Exploration Target of up to 530 Mt. Dundas is poised
to become a major supplier of high-quality ilmenite. Recent discoveries of
hard rock titanium mineralisation, with bedrock samples showing nearly double
the ilmenite content of previous estimates, further enhance the project's
world-class potential. 80 Mile owns 100% of the Dundas Ilmenite Project under
its subsidiary Dundas Titanium A/S in Greenland.

In June 2025, 80 Mile entered into a definitive agreement to divest its 100%
interest in the Kangerluarsuk zinc-lead-silver project in Greenland to Amaroq
Minerals Ltd. Under the terms of the agreement, 80 Mile will receive
US$500,000 in Amaroq Minerals shares upon completion, and US$1,500,000 in cash
or shares upon the discovery of an economic deposit, as defined by a JORC or
NI 43-101 compliant resource that supports development.

 

 

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