RCS - Alba Mineral Resrcs. - Operational Update

Alba Mineral ResourcesAnnouncement

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RNS Number : 8432V  Alba Mineral Resources PLC  09 March 2026

Alba Mineral Resources Plc / EPIC: ALBA / Market: AIM / Sector: Mining

9 March 2026

Alba Mineral Resources Plc

("Alba" or the "Company") 

 

Operational Update

Alba Mineral Resources plc (AIM: ALBA), the gold and critical raw materials
focused exploration and development company, is pleased to confirm the current
state of progress at its core projects, the Clogau-St David's Gold Mine and
Motzfeldt Critical Metals Project.

Clogau-St David's Gold Mine, Wales ("Clogau" or the "Mine") (Alba 100%)

As previously reported (see Alba RNS dated 12 February 2026), roof support
measures have been implemented at the new development on Level 5 of the Clogau
mine. Following the completion of that exercise, mucking out of the previous
blast (blast 6) resumed in the week commencing 2 March, with a total of 54
bulk bags of ore recovered to surface.  The cleared face was then drilled in
the latter part of the week and a further blast (blast 7) successfully
completed on Friday 6 March, advancing 1.7m.  The total length of the new
development on Level 5 now stands at 9.8m.

Figure 1: (Left) Completed blast holes for Blast 7; (Right) Ore pile post
Blast 7.

Motzfeldt Critical Metals Project (Alba 25.5%, moving to 51%)

As announced on 16 February 2026, the first stage of the commissioned
mineralogical and scoping test work on the Rare Earth ("REE"), Niobium ("Nb"),
Tantalum ("Ta") and Zirconium (Zr) mineralisation at the Aries Deposit, part
of the Motzfeldt Critical Metals Project in south Greenland, was successfully
completed.  This analysis has verified that all the minerals which host the
critical metals at Aries have established extractive industries globally,
highlighting a key advantage of the Motzfeldt project.

The next phase of test work has now begun and will assess the efficacy of
separation techniques (gravitational and magnetic) on splitting the target
minerals from gangue (or waste material) phases.

Alba's Chairman George Frangeskides and Principal Geologist Dr Curtis Rooks
attended the PDAC Convention in Toronto, the world's largest annual mining
conference.  During the course of the Convention, they held a number of
constructive meetings in relation to Motzfeldt. These included discussions
with the Mayor and Principal Director of Kujalleq Municipality, where the
project is located, and positive meetings with representatives of the
Government of Greenland. The Company intends to establish a regular dialogue
with local authorities and communities as it seeks to develop the Motzfeldt
Project in partnership with all key stakeholders.

Alba's representatives also met with several technical contractors involved in
the planned 2026 work programme, including hyperspectral survey providers,
ecological consultants and contractors supporting the project's Mineral
Resource review and proposed preliminary scoping study workstreams.

Alba's application to move to a majority 51% ownership of Motzfeldt has been
through the statutory consultation process with the Government of Greenland
and a formal decision is expected soon.

Figure 2: (Left) Alba's Principal Geologist Dr Curtis Rooks, left, and
Chairman George Frangeskides, right, with the UK's High Commissioner to
Canada, Mr Rob Tinline, at the UK Government's PDAC Reception at which the UK
presented its new critical minerals strategy, Vision 2035; (Right) Alba's
Principal Geologist Dr Curtis Rooks with the Mayor of Kujalleq Municipality,
Malene Vahl Rasmussen

Company Comment

George Frangeskides, Alba's Executive Chairman, commented:

"I am pleased to report on the constructive meetings and dialogues held by us
at the PDAC Convention in Toronto. We held very positive meetings throughout
the Convention with Government stakeholders and key contractors as we seek to
push the Motzfeldt Project forward this year. And it was great to see our
investee company, GreenRoc, front and centre of the EU's  programme at PDAC,
including being formally presented with a certificate recognising Amitsoq's
status as an EU Strategic Project.

"At Clogau, another successful blast was completed just last Friday, advancing
another 1.7m. We are now halfway through our objective of completing 20m of
new development down on Level 5 of Clogau, our priority gold target within the
mine.  Our team will be assessing the results of the latest blast from Monday
onwards and continuing with plans to improve the throughput of ore through the
Company's onsite processing plant.

"With our core work programmes at Clogau and Motzfeldt progressing well, our
investee company GreenRoc currently in the process of constructing its pilot
anode plant in Denmark, and a successful capital raise completed by us in the
past week, Alba is in a strong position to push forward in the coming months."

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Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market, financial and business conditions, competition
for and availability of qualified staff and contractors, regulatory processes
and actions, technical issues, new legislation, uncertainties resulting from
potential delays or changes in plans, uncertainties resulting from working in
a new political jurisdiction, uncertainties regarding the results of
exploration, uncertainties regarding the timing and granting of prospecting
rights, uncertainties regarding the timing and granting of regulatory and
other third party consents and approvals, uncertainties regarding the
Company's or any third party's ability to finance, execute and implement
future plans and programmes, and the occurrence of unexpected events. Actual
results achieved may vary from the information provided herein as a result of
numerous known and unknown risks and uncertainties and other factors.

**ENDS**

Engage with Alba by asking questions, watching video summaries and reading
what other shareholders have to say. Navigate to our interactive Investor Hub
here:

https://albamineralresources.com/link/eYNLxr
(https://albamineralresources.com/link/eYNLxr)

 

For further information, please visit the Alba Mineral Resources plc investor
website (www.albamineralresources.com (http://www.albamineralresources.com) )
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Subscribe to our news alert service
(https://alba-l.investorhub.com/auth/signup
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(formerly Twitter).

 Alba Mineral Resources plc                 +44 20 3950 0725

 George Frangeskides, Executive Chairman
 SPARK Advisory Partners Limited (Nomad)    +44 20 3368 3555

 Andrew Emmott
 CMC Markets plc (Broker)                   +44 20 3003 8632

 Thomas Smith / Douglas Crippen

 

 Alba's Projects & Investments

 Projects Operated by Alba                            Location   Ownership
 Clogau (gold)                                        Wales      100%
 Dolgellau Gold Exploration (gold)                    Wales      100%
 Gwynfynydd (gold)                                    Wales      100%
 Investments Held by Alba                             Location   Ownership
   Motzfeldt Critical Metals Project                  Greenland  25.5%
 GreenRoc Strategic Materials Plc (graphite - anode)  Greenland  25.04%
 Horse Hill (oil)                                     England    11.765%
 Earn-in Projects                                     Location   Earn-in Rights
 Finnsbo (rare earths, copper, gold)                  Sweden     Up to 100%

 

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