REG - Aterian PLC - Positive Study Results – Kalahari Copperbelt

AterianAnnouncement

15/01/2026 07:00

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RNS Number : 9631O  Aterian PLC  15 January 2026

15 January 2026

 

Aterian plc

("Aterian" or the "Company")

 

Positive Study Results - Kalahari Copperbelt

 

Aterian Plc (AIM: ATN), the Africa-focused critical metals exploration
company, is pleased to announce encouraging results from an independent
geophysical study completed over Prospecting Licence PL265/2025 ("Licence") in
the Kalahari Copperbelt ("KCB"), in the Republic of Botswana ("Botswana"). The
Licence is wholly owned by Atlantis Metals (Pty) Ltd, in which Aterian has a
90% interest. The award of the Licence was previously announced on 15 December
2025.

 

The study confirms that PL265/2025 is located within a proven, world-class
copper-silver district, directly along strike from operating and advanced
deposits in the Kalahari Copperbelt, including Sandfire Resources' Motheo
Mine. Importantly, the work has identified multiple priority targets that
materially enhance the potential scale, quality, and future value of the
Licence.

 

With copper prices strengthening on the back of accelerating electrification,
energy-transition demand, and constrained new supply, the Board believes the
KCB represents one of the most attractive global jurisdictions for long-term
copper exposure and value creation.

 

Highlights

·      Three priority target areas on the Licence have been designated
as critical for follow-up exploration and drill targeting.

·      Interpretation of airborne magnetic data identifies multiple
sub-parallel ENE-WSW trending thrust structures and associated folding,
considered favourable for copper mineralisation targeting.

·      Structural interpretation indicates truncation of Lower D'Kar
Formation sediments against basement units, a recognised geological setting
for copper deposits in the region.

·      Historical copper-in-soil anomalies exceeding 18 ppm Cu coincide
with key thrust structures.

·      Legacy airborne EM data highlights near-surface conductive
horizons, interpreted as carbonaceous units of the Lower D'Kar Formation.

·      Licence located approximately 60 km south of the Motheo copper
mine, along strike of the Kalahari Copperbelt.

 

 

 

Interpretation

Figure 1. Regional airborne magnetics First Vertical Derivative of TMI. Hot
colours (yellow to red) designate magnetic highs and cool colours (below
green) designate magnetic lows. Interpreted target areas in white circles.

 

Target Area A.

There is a tight folding structure in the inferred D'Kar formation, truncating
against the southernmost thrust. The area around the intersection of the tight
fold and the thrust could be prospective for chalcocite-dominated copper
sulphides.

 

Target Areas B and C.

The copper-in-soil geochemical anomalies cluster along the northernmost
thrust.

 

Charles Bray, Chief Executive Officer of Aterian plc, commented:

"We are very encouraged by the results of the independent geophysical study
over Prospecting Licence PL265/2025 in the Kalahari Copperbelt.  The study
confirms that the licence lies within a proven copper-silver district,
approximately 60 kilometres south of Sandfire Resources' Motheo mine, and
identifies a compelling coincidence of favourable structures, copper-in-soil
anomalies and conductive stratigraphic units that are known to host copper
mineralisation elsewhere in the belt.

 

The delineation of three priority target areas provides a clear and focused
pathway for follow-up exploration and materially reduces early-stage technical
risk. The Board believes these results significantly strengthen the investment
case for the project and justify advancing to the next phase of systematic
exploration. PL265/2025 represents a high-quality opportunity in a stable,
mining-friendly jurisdiction and aligns well with the Company's strategy of
building meaningful exposure to prospective copper assets, especially given
the backdrop of rising critical metal prices."

 

Planned Exploration

Based on the study's recommendations, the Company is planning a first-phase
exploration programme comprising detailed ground or drone-based magnetic
surveys across the three target areas, followed by targeted electromagnetic
surveys to delineate conductive horizons and refine future drill targets.

 

Further updates will be provided as exploration planning progresses.

 

- ENDS -

 

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

Engage directly with the Aterian PLC management team by asking questions,
watching video summaries, and seeing what other shareholders have to say.
Please navigate to our interactive investor
hub here:
https://aterianplc.com/s/fcf8eb (https://aterianplc.com/s/fcf8eb)

 

For further information, please contact:

 Investor questions on this announcement

 We encourage all investors to share questions   https://aterianplc.com/s/fcf8eb (https://aterianplc.com/s/fcf8eb)

 on this announcement via our investor hub

Aterian Plc:

Charles Bray, Executive Chairman - charles.bray@aterianplc.com
(mailto:charles.bray@aterianplc.com)

Simon Rollason, Director - simon.rollason@aterianplc.com
(mailto:simon.rollason@aterianplc.com)

 

Financial Adviser and Joint Broker:

AlbR Capital Limited

David Coffman / Dan Harris

Colin Rowbury

Tel: +44 (0)207 7469 0930

 

Joint Broker:

SP Angel Corporate Finance LLP

Ewan Leggat / Adam Cowl

Tel: +44 20 3470 0470

 

Financial PR:

Bald Voodoo - ben@baldvoodoo.com (mailto:ben@baldvoodoo.com)

Ben Kilbey

Tel: +44 (0)7811 209 344

 

Subscribe to our news alert service: https://atn-l.investorhub.com/auth/signup
(https://atn-l.investorhub.com/auth/signup)

Notes to Editors:

 

About Aterian plc

 

www.aterianplc.com (http://www.aterianplc.com)

 

Aterian plc is an LSE-listed exploration and development company with a
diversified African portfolio of critical metals projects.

Aterian plc is actively seeking to acquire and develop new critical metal
resources to strengthen its existing asset base while supporting ethical and
sustainable supply chains as the world transitions to a sustainable, renewable
future. The supply of these metals is vital for developing the renewable
energy, automotive, and electronic manufacturing sectors, which are
increasingly important in reducing carbon emissions and meeting global climate
ambitions.

 

Aterian has a portfolio of multiple copper-silver (+ gold) and base metal
projects in Morocco. Aterian holds a 90% interest in Atlantis Metals, a
private Botswana-registered company holding eleven mineral prospecting
licences for copper-silver in the world-renowned Kalahari Copperbelt and three
for lithium brine exploration in the Makgadikgadi Pans region. The Company
also holds an exploration licence in southern Rwanda, where it is evaluating
the tantalum and niobium opportunity, in addition to further exploring for
pegmatite-hosted lithium.

 

The Company's strategy is to seek new exploration and production opportunities
across the African continent and to develop new sources of critical mineral
assets for exploration, development, and trading.

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