REG - Arkle Resources PLC - Uranium Targets Defined; Drilling Accelerated

Arkle ResourcesAnnouncement

22/05/2026 07:00

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RNS Number : 3614F  Arkle Resources PLC  22 May 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) 596/2014 (AS AMENDED) AS IT FORMS PART OF THE DOMESTIC
LAW OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT
2018 (AS AMENDED). UPON PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

22(nd) May 2026

Arkle Resources PLC

("Arkle" or the "Company")

Uranium Targets Defined; Drilling Accelerated

Multiple Paleochannel and Leucogranite-Hosted Uranium Targets Defined and
Drilling Programme Accelerated at Namibian Licences

 

Arkle Resources PLC (LSE:ARK), the energy metals explorer focused on uranium,
is pleased to announce that interpretation of its Phase 1 geophysical
programme is now complete across the Company's three northern Exclusive
Prospecting Licences ("EPLs") (8290, 8298 and 8995) at its Erongo uranium
project in Namibia, with highly encouraging results. These developments
combine data from the recent airborne radiometric and magnetic surveys, ground
horizontal loop electromagnetic ("HLEM") surveys and 2025 assay results.

Highlights

•     Two Distinct Mineralisation Styles Defined: paleochannel hosted
uranium (analogous to Trekkopje and Marenica) and uraniferous leucogranite
("ULG") hosted uranium (consistent with the broader Erongo alaskite uranium
province including Rössing, Husab and Etango)

•     Drilling Programme Accelerated: Arkle previously guided several
months of post-interpretation mapping and sampling work, but, on the strength
of these results, drilling on the Eastern EPL 8995 paleochannel target has
been accelerated to June 2026 (or at the earliest contractor availability)

•     1,500m of RC Drilling: planned to test parallel paleochannel
structures at the Eastern EPL 8995 target, with up to four individual
sub-paleochannels inferred from HLEM

•     Trenching and Sampling Commences Next Week: across a large ULG
target on EPL 8995 extending approximately 1Km by 700m and interpreted as a
potentially large assemblage of leucogranite sheets

•     2,500m ULG Drilling Programme to Commence in Q3 2026: subject to
the results of the trenching and sampling work

•     Multiple Additional Paleochannel and ULG Targets: identified
across EPLs 8290, 8298 and 8995, to be advanced in parallel through further
HLEM survey lines, mapping and sampling

•     Strong ULG Potential on EPL 8290: multiple ULG anomaly clusters
identified across both the Eastern and Western blocks of EPL 8290, with four
prominent uranium anomalies on the Eastern block (confirmed by
uranium-to-thorium ratios) and further confirmed anomalies on the Western
block; the ULG trend extends north-east into the eastern part of EPL 8298,
indicating an extensive ULG mineralisation pattern across the Company's
licence package

•     High Surface Sample Grades: 2025 surface sampling programme
returned uranium grades of up to 3,855 ppm U₃O₈ in alaskite (ULG-style)
samples and up to 2,782 ppm U₃O₈ in calcrete (paleochannel-style) samples
across EPLs 8995 and 8290

•     Downhole GRS Survey of Legacy Drillholes on EPL 8995 is Ongoing,
with approximately 50% of the planned 95 holes surveyed to date; results, when
received, are expected to lead to further refinement of drill targets

 

Rory Harding, Interim Chief Executive Officer, commented:

"Completion of the Phase 1 geophysics interpretation is a defining moment for
Arkle's uranium strategy. The integrated work, supported by 2025 surface
sampling and the input of our technical advisers, has fast-tracked a portfolio
of high-priority uranium drill targets across two of the most productive
mineralisation styles in the Erongo belt. The maps in Figures 1 and 2 speak to
the quality of the work and the scale of the opportunity in front of us."

"When we announced the start of the Phase 1 geophysics programme in February,
we guided to several months of post-interpretation mapping and sampling before
moving to drill. The quality of the data has allowed us to compress that
timeline. The Eastern paleochannel target on EPL 8995 is now drill-ready and
we are working to commence RC drilling in June. In parallel, trenching and
sampling across the large uraniferous leucogranite target on EPL 8995 begins
next week, leading into a 2,500-metre drilling programme during Q3 2026."

"With approximately 4,000 metres of fully funded drilling now planned across
both of the major uranium mineralisation styles in the Erongo belt, and
multiple additional targets being advanced behind these, Arkle's shareholders
should expect a sustained period of news flow through the year."

 

Further Details

Geophysical Interpretation Complete

The geophysical interpretation of recent airborne radiometric and magnetic
surveys, ground HLEM surveys and 2025 assay results, has generated multiple
high-priority uranium drill targets of two distinct mineralisation styles:
paleochannel hosted uranium analogous to the adjacent Trekkopje and Marenica
deposits, and uraniferous leucogranite host rocks, of a mineralisation style
ubiquitous within the broader Erongo alaskite uranium province which includes
the major established deposits at Rössing, Husab and Etango.

Orano's Trekkopje Mine is one of the most significant calcrete-hosted uranium
deposits globally while a doubling of resource grade was recently confirmed at
Marenica by Elevate Uranium. The interpretation is illustrated in Figures 1, 2
and 3 below.

The interpretation integrates the Xcalibur airborne radiometric and magnetic
survey, HLEM ground surveys, and assay results from the 2025 surface sampling
programme. A downhole gamma ray spectrometer ("GRS") survey of legacy
drillholes on EPL 8995 is also ongoing.

Figure 1: Integrated interpretation of the airborne radiometric/magnetic
surveys with surface sampling and HLEM surveys across Arkle's three s northern
EPLs (8290, 8298 and 8995) showing the location of paleochannel and
uraniferous leucogranite (ULG) targets

 

Next Steps and Indicative Timeline

•     June 2026: Trenching, mapping and sampling commences on the
centre-north EPL 8995 primary ULG target

•     June 2026: c. 1,500m RC drilling programme to commence on the
Eastern EPL 8995 paleochannel target (at the earliest contractor availability)

•     Q2 / Q3 2026: Completion of the ongoing downhole GRS survey of
legacy drillholes on EPL 8995 (c. 50% surveyed to date; c. 50 of 95 planned
holes) and integration of results into the target interpretation

•     Q3 2026: c. 2,500m RC drilling programme to commence on the ULG
target, subject to the results of the trenching and sampling work

•     Q3 and Q4 2026: Additional HLEM survey lines, mapping and sampling
across further paleochannel and ULG targets on EPLs 8290, 8298 and 8995, to
develop the next generation of drill targets

 

Eastern EPL 8995 Paleochannel

Figure 2: Zoomed view of EPL 8995, showing the Eastern paleochannel targets (drill-ready)

 

Interpretation of the Xcalibur Smart Mapping airborne survey, combined with
HLEM ground surveys completed in March 2026, has confirmed and extended the
paleochannel targets first identified at the Eastern margin of EPL 8995. The
HLEM data has resolved parallel paleochannel structures, with up to four
individual sub-paleochannels inferred along the surveyed lines, interpreted as
extending north-easterly toward and being contiguous with the channel systems
which host the adjacent Trekkopje (Orano) and Marenica (Elevate Uranium)
deposits.

Sediment transport directions interpreted from the channel architecture
indicate eastward flow toward the Trekkopje deposit on the Orano Mining
Licence 151 immediately to the east, supporting the interpretation of a
contiguous paleochannel system between Arkle's licence and the deposit
currently under recommissioning at Trekkopje.

The Eastern target on EPL 8995 is supported by the recent airborne geophysics,
26 surface samples from the 2025 mapping programme and the two HLEM lines
completed in March 2026. The HLEM data has provided useful information toward
interpreting channel geometry, depth and basement architecture, and has
identified channel-margin dykes which are interpreted as potential structural
controls on paleochannel flow, and consequently uranium mineralisation. Once
complete, the downhole GRS survey results will be integrated into the
interpretation and refinement of the drill programme, with twin-holes to
selected historic drillholes a potential element of the planned drilling
programme.

The 2025 surface sampling programme returned uranium grades of up to 2,782 ppm
U₃O₈ in calcrete-hosted samples across EPLs 8995 and 8290, confirming
surficial uranium mineralisation analogous to that hosted within the adjacent
Trekkopje and Marenica calcrete-hosted paleochannel deposits.

The additional surface mapping and sampling work previously envisaged on this
target is continuing in parallel with the design of the drilling programme.
The location and spacing of drillholes, and the indicative number of holes,
are currently being finalised by the Company's geological team together with
its consultants, with the optimum design intended to test the channel
architecture identified by the HLEM survey.

ULG Target - EPL 8995 - Trenching, Sampling and Follow-On Drilling

Figure 3: Zoomed view of EPL 8995 showing the centre-north uraniferous leucogranite(ULG) target and the additional Central target

 

A target has been defined over a large body of leucogranites in the
centre-north of EPL 8995 through integrated interpretation of the airborne
radiometric and magnetic data, supported by results from the 2025 surface
mapping and sampling programme, which returned encouraging assay grades of up
to 3,855 ppm U₃O₈.in ULG samples. The typical host style for hard-rock
uranium mineralisation in Namibia is uraniferous leucogranite, or, as it is
more commonly referred to in the district, "alaskite". ULGs are the host rock
for a number of the largest uranium deposits in the Erongo Region, including
Rössing, Husab, and Bannerman Energy's Etango Project. These type localities
are guiding the ongoing geological interpretation of the ULGs found on the
Company's Licences.

The primary ULG target identified extends across an area of approximately 1 km
by 700 m in the Central-north portion of the EPL and the target is defined by
coincident radiometric and magnetic anomalies, surface mapping of ULG outcrop,
and the absence of overlying marbles which are interpreted as a stratigraphic
control on the preservation of the ULG sequence. The size and character of the
anomaly are consistent with a potentially large assembly of leucogranite
sheets, and the target remains open along strike to both the north and the
southwest.

The ULG target is flanked by two further paleochannels mapped from the HLEM
and ASTER multispectral remote sensing data;  a smaller far-western
paleochannel of approximately 41 hectares and a larger western paleochannel of
approximately 631 hectares, both of which show encouraging elevated uranium
and uranium-to-thorium ratio responses in the airborne radiometric data.

A follow-up, on-ground programme  commences next week, comprising detailed
surface mapping, trenching along the length of the ULG target with systematic
sampling to characterise the extent, grade and continuity of the ULG-hosted
mineralisation. The results of this work will support the design and
refinement of a fully funded c. 2,500 metre RC drilling programme, designed to
provide initial vertical control on the ULG sequence and to test grade and
continuity at depth.

Further Targets - Additional Paleochannels and ULGs

Interpretation of the Xcalibur dataset has identified multiple further
paleochannel and ULG targets across all three contiguous northern EPLs (8290,
8298 and 8995), which will be advanced in parallel with the drilling
programmes described above.

Additional Paleochannel Targets - EPLs 8290 and 8298

Additional paleochannel potential exists on EPL 8290, where surface mapping
has indicated mineralised paleochannel sequences not fully resolved by the
recent airborne survey, and across the north-east of EPL 8298, which hosts
surficial sediment cover with drainage patterns immediately downstream of the
Marenica deposit on Elevate Uranium's Mineral Deposit Retention Licence 3287.
The Company plans to advance these targets through additional HLEM survey
lines, surface mapping and sampling during Q3 and Q4 2026.

Additional ULG Targets and Analogues

Additional ULG analogues have been identified at several locations across the
northern EPLs from coincident radiometric and magnetic signatures consistent
with the primary centre-north ULG target of EPL8995. These include a second
Central target on EPL 8995 focused on two prominent dome structures, where
ULGs are present in outcrop and interpreted in the subsurface, and a potential
paleochannel occurrence identified between the two domes which has been
surveyed by a single HLEM line. The Western portion of EPL 8995 contains dome
and fold structures within Swakop Group metasediments and outcropping
syn-tectonic Damaran granitoids (Salem Suite), with several encouraging,
localised, occurrences of elevated eU:eTh ratios mapped, by radiometric suvey
across the western and south-western portions of the licence for follow-up
sampling.

Beyond EPL 8995, the recent airborne radiometric and magnetic survey has
identified extensive ULG prospectivity on EPL 8290, with multiple ULG anomaly
clusters distributed across the licence. The Eastern block of EPL 8290 hosts
four prominent uranium anomalies, three of which are confirmed by elevated
uranium-to-thorium ratios consistent with ULG-style mineralisation. The
Western block of EPL 8290 hosts further uranium anomalies, with all anomalies
confirmed by uranium-to-thorium ratio analysis to represent true uranium
occurrences. The pattern of multiple distributed anomaly clusters on EPL 8290
contrasts with the single, large, concentrated target on EPL 8995 and adds
materially to the Company's ULG target inventory.

On EPL 8298, a prominent uranium anomaly has been identified in the east of
the licence, confirmed by U:Th ratio analysis and interpreted as the
north-east extension of the ULG-mineralised trend identified on EPL 8290. The
continuation of this trend across two contiguous licences indicates an
extensive ULG mineralisation pattern within the Company's licence package and
provides further encouragement for follow-up exploration across the broader
Northern EPL portfolio.

Regional Context and Analogues

The Erongo uranium province is one of the most productive uranium regions
globally, containing approximately 1.2 Blb U₃O₈ in Measured and Indicated
Resources and approximately 235 Mlb U₃O₈ in Inferred Resources, and having
produced in excess of 350 Mlb U₃O₈ over the past 45 years. Arkle's
northern EPLs are contiguous with the Trekkopje (Orano) and Marenica (Elevate
Uranium) paleochannel uranium deposits and sit within the same regional
geological framework as the leucogranite and alaskite-hosted uranium deposits
which have defined the district.

The major established deposits of the Erongo uranium district include Rössing
(the world's longest continuously operating open-pit uranium mine), Husab (one
of the world's largest uranium mines by production), Bannerman Energy's Etango
project (ASX: BMN), which has supported the definition of a substantial
uranium resource and has advanced to development decision stage, and Forsys
Metals' Valencia project advancing toward pre-feasibility stage. Each of these
is an alaskite-hosted (leucogranite-hosted) uranium deposit. Arkle's targets
sit within the same broader Erongo uranium district and with established
mining and processing infrastructure.

The region is host to a third operating uranium mine at Langer Heinrich which
exploits a paleochannel system; and a uranium mine at Trekkopje, adjacent to
Arkle's Licences, that is progressing toward recommissioning and eventual
production from an extensive paleochannel-type deposit. Reptile Uranium are
developing a mine project at their Tumas deposits, located to the southwest of
Langer Heinrich and southeast of the Etango Project.

Stratigraphic and Structural Framework

Valencia, Rössing, Husab and Etango sit at the centre of a NE-SW trend known
within the district as "alaskite alley", situated within the metamorphic core
of the Damara Orogen Central Zone. Regional occurrences of ULG-hosted uranium,
such as those identified on Arkle's licences, continue to be prospective
targets that expand the known extent of this style of uranium mineralisation.
Etango is situated at the base of the Nosib Group, close to Abbabis MMC
basement rock, which represents a somewhat different stratigraphic setting to
that mapped to date on the Northern EPLs; however, the licences host complex
structural features which are analogous to those interpreted as structural
pathways, or plumbing systems, that facilitated granite dyke and sill
intrusions in the broader district. These structural settings, together with
the ULG and paleochannel targets defined to date, are a primary focus of the
Company's exploration programme. The surficial type deposits such as Langer
Heinrich and Trekkopje are hosted in near surface paleochannels, that have
accumulated uranium mineralisation through erosion of uraniferous (granitoid)
bedrock and episodic drainage and deposition in 'recent' geologic time. These
structural- and morphological settings, together with the ULG and paleochannel
targets defined to date, are a primary focus of the Company's exploration
programme.

Technical Team and Advisers

The Phase 1 interpretation, and the design and execution of the ongoing
exploration programme on the ground in Namibia, are led by the Company's
Namibia Exploration Manager, Willem Kotzé, supported by an experienced team
of independent technical advisers. Dr Guy Freemantle of The MSA Group has been
engaged as the Company's Uranium Qualified Person and independent consultant,
bringing extensive uranium geology and exploration expertise to the project.

Processing and interpretation of the airborne radiometric and magnetic data
acquired by Xcalibur Smart Mapping has been delivered by Arrow Geosciences,
with Theo Aravanis (formerly Chief Geophysicist of Rio Tinto for over 20
years) supporting the geophysical interpretation work that has contributed to
the definition of the paleochannel and ULG drill targets announced today.

In addition, leading Namibian uranium experts Dr Paul Nex and Professor Judith
Kinnaird visited several uraniferous leucogranite outcrop and paleochannel
sites on the Northern EPLs during the Phase 1 programme, providing technical
input on the mapping and classification of the ULGs and on the broader
geological framework of the licences. Their input has been integrated into the
interpretation announced today and will continue to inform the design of
follow-on mapping, sampling and drilling programmes.

Investor Webinar and Q&A

The Company intends to convene an investor webinar and live Q&A session in
June 2026, at which the Chief Executive Officer will present the results of
the Phase 1 geophysical interpretation, the maps and the planned Phase 2
drilling programme. Further details, including registration information, will
be announced in due course.

Enquiries

 Arkle Resources

 Rory Harding, Interim CEO       +44 (0)20 3051 5348

 John Teeling, Chairman          +353 (0)1 833 2833

 Strand Hanson Limited           Nominated & Financial Adviser

 Ritchie Balmer / Imogen Ellis   +44 (0)20 7409 3494

 First Equity Limited            Joint Broker

 Jason Robertson                 +44 (0)20 7374 2212

 Vigo Consulting                 UK Media & IR

 Ben Simons / Seb Weller         +44 (0)20 7390 0234

                                 arkle.ir@vigoconsulting.com

 Teneo                           Ireland Media

 Luke Hogg / Molly Mooney        +353 (0)1 661 4055

About Arkle Resources

Arkle Resources PLC (AIM: ARK) is a multi-commodity exploration company
focused on metals which are essential for the generation and storage of clean
energy: uranium, lithium and zinc. Its projects are in tier-1 mining
jurisdictions in Namibia, Botswana and Ireland, adjacent to world-class
deposits.

Founded in 2004 by John Teeling and Jim Finn, the Company co-discovered the
Stonepark zinc deposit in County Limerick, now Ireland's second largest
undeveloped resource, in joint venture with Teck Ireland. Teck's interest was
acquired by Group Eleven Resources (TSX-V: ZNG), who continue to advance the
project alongside Arkle.

In January 2026, the Company announced a transformative deal to acquire
Namibia Uranium Pty Ltd, which has introduced four highly prospective uranium
licences contiguous to major producing and development assets in what is a
world-class uranium jurisdiction. This acquisition, alongside the Company's
existing licence portfolio and the introduction of new management, repositions
Arkle to become a leading explorer in energy metals.

For more information visit: www.arkleresources.com

Follow us on social media:

www.x.com/ArkleResources

www.linkedin.com/company/arkle-resources-plc
(http://www.linkedin.com/company/arkle-resources-plc)

Competent Person Statement

The technical and scientific information contained in this announcement has
been reviewed and approved by Dr Guy Freemantle, an independent consultant to
the Company through The MSA Group (Pty) Ltd., Johannesburg, South Africa. Dr
Freemantle holds a Bachelor of Science in Geology and a PhD in Geology, both
at the University of the Witwatersrand. He is a member of the Society of
Economic Geologists (892905) and current Vice President for the Africa Region;
a Fellow of the Geological Society of South Africa (965392); and is registered
with SACNASP (Registration 117527). Dr Freemantle has practised his profession
continuously for 16 years and has sufficient experience and knowledge that is
relevant to the style of mineralisation and type of deposits under
consideration as well as to the activity that is being undertaken to fulfil
requirements of a Qualified Person as per NI 43-101 / PERC Reporting Standard
(2021). Dr Freemantle consents to the inclusion in this announcement of the
technical and scientific information in the form and context in which it
appears.

 

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