REG - Amigo Resources PLC - Mojimoto Project Update

Amigo ResourcesAnnouncement

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RNS Number : 4427C  Amigo Resources PLC  30 April 2026

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE
 
                                   30 April
2026

 

Amigo Resources PLC

("Amigo" or the "Company")

 

Mojimoto Project Update - Exploration Progress, PML Engagement &
Processing Initiative, Tanzania

 

Amigo Resources PLC (LSE: AMGO) is pleased to provide an update on the
Mojimoto Project (the "Project"), located in the Lake Victoria goldfield
region of Tanzania.

 

Exploration Programme Update

The Group has successfully completed a phased exploration programme across the
Project area. The programme included:

•    Deployment of proprietary micro-seismic survey techniques integrated
with AI-assisted subsurface modelling;

•    Systematic geochemical soil sampling and multi-element analysis; and

•    Trenching and surface validation work across identified anomalies.

Following integration of these datasets, the Company has identified nine (9)
Primary Mining Licence ("PML") areas demonstrating encouraging geological and
geochemical signatures consistent with potential gold mineralisation.

Multi-element geochemical analysis has identified anomalous gold (Au)
responses across the Project area, supported by elevated pathfinder element
signatures consistent with structurally controlled gold systems typical of the
Lake Victoria goldfield.

In addition, preliminary sampling of tailings and previously worked material
from nearby artisanal mining operations has confirmed the presence of residual
gold values, indicating potential for both primary exploration and the
re-treatment of historic material.

 

Geochemical Results Summary

Laboratory analysis was completed on 624 samples collected across the Project
area. A summary of gold and key pathfinder element results is presented below:

 Element   Range      Peak  Samples
 Au (ppb)  20 - 580   580   624
 As (ppm)  5 - 180    180   624
 Cu (ppm)  30 - 240   240   624
 Ag (ppm)  0.1 - 4.5  4.5   624

 

Notes:

•    Gold values reflect surface geochemical sampling and provide
first-pass guidance for follow-up exploration.

•    Pathfinder elements (As, Cu, Ag) support the interpretation of
structurally controlled gold mineralisation.

•    Surface geochemical results are indicative only and are not
representative of subsurface grade or continuity.

 

PML Engagement & Planned Drilling Programme

Afri Core Resources Limited, the Group's Tanzanian subsidiary has commenced
engagement with holders of the identified PMLs and is progressing formal
agreements to support further exploration and development.

Under these arrangements:

•    The Company intends to fund and execute a structured drilling
campaign;

•    The programme will test priority gold targets generated from
integrated datasets; and

•    Results will support potential resource delineation and technical
evaluation.

Subject to satisfactory exploration results and receipt of all requisite
regulatory approvals, the company intends to form joint venture arrangements
in respect of Mining Licences ("MLs") derived from the underlying PML areas,
pursuant to which the company may hold up to an 80% participating interest.

 

Processing Plant Initiative

Encouraged by the exploration results and the presence of historically worked
material, the Group is advancing plans to establish a gold processing
facility.

The pilot plant is intended to:

•    Process tailings and previously mined material;

•    Support metallurgical test work and process optimisation; and

•    Generate early-stage operational data and revenue.

In addition, the Group is incorporating a proprietary gravity-based
concentration module, designed to enhance the recovery of fine and ultra-fine
gold particles from both fresh ore and historic tailings.

 

Strategic Context

The Mojimoto Project represents a key component of Amigo's strategy to:

•    Apply AI-driven exploration methodologies to identified gold-bearing
terrain;

•    Combine primary exploration with the re-treatment of historic
artisanal material; and

•    Integrate exploration, processing, and proprietary technology under
a single operational platform.

The Company is evaluating the potential to advance Mojimoto as an integrated
gold exploration, development and processing project, subject to further
technical validation.

 

Cautionary Statement

The information contained in this announcement is based on preliminary
exploration results.

Geochemical results are derived from early-stage surface sampling and do not
constitute evidence of economic mineralisation. Further drilling and
metallurgical testing are required.

There is no certainty that economically recoverable mineral resources will be
defined, or that Mining Licences will be granted.

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014.  The person responsible for this
announcement is Nicholas Beal, Chief Executive.

 

Contacts:

 Amigo Holdings PLC         investors@amigo.me
 Craig Ransley              Executive Chair
 Nick Beal                  Chief Executive

 Sponsor                    Beaumont Cornish

                            0207 628 3396

 

About Amigo Resources PLC

Amigo is a public limited company registered in England and Wales with
registered number 10024479. Amigo is focussed on gold and rare earth mining
opportunities in Africa, principally in Tanzania and Mauritania. The Amigo
Shares are listed on the Official List of the London Stock Exchange

 

Additional Information

This announcement is not intended to, and does not, constitute or form part of
any offer, invitation, or the solicitation of an offer to purchase, otherwise
acquire, subscribe for, sell, or otherwise dispose of, any securities, or the
solicitation of any vote or approval in any jurisdiction, pursuant to this
announcement or otherwise.

 

-ENDS-

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