REG - Cadence Minerals PLC - Corp Update - EG1 commences exploration at Leonora

Cadence MineralsAnnouncement

09/07/2025 15:00

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RNS Number : 4127Q  Cadence Minerals PLC  09 July 2025

Cadence Minerals Plc

 

("Cadence Minerals", "Cadence", or "the Company")

 

Corporate Update - EG1 commences exploration at Leonora Goldfields Project,

WA

 

Cadence Minerals (AIM: KDNC) is pleased to note that ASX listed Evergreen
Lithium ("EG1") (ASX: EG1) has announced that it is advancing exploration at
its wholly-owned Leonora Goldfields Project (LGP) in Western Australia's
prolific central goldfields. The Company's geology team recently conducted a
multi-day site visit, completing detailed mapping across key prospects -
Craig's Rest, Victor Bore, and Great Northern - to finalise targets for an
upcoming drilling campaign with the aim to expand the project's 63,000oz gold
resource.

 

The Leonora Goldfields Project (LGP), acquired by Evergreen in May 2025, is
located near multimillion-ounce gold deposits including Red 5's >4Moz King
of the Hills and Northern Star's Thunderbox operations. The project hosts a
JORC 2012-compliant inferred resource of 63,000oz of gold across three key
prospects: Craig's Rest (48,600oz), Victor Bore (11,700oz), and Great Northern
(2,700oz).

 

Highlights:

·      Evergreen's wholly-owned Leonora Goldfields Project in WA hosts a
JORC 2012-compliant inferred gold resource of 63,000oz, with high-grade
intercepts up to 5m at 57.9 g/t Au

·      A recent site visit by Evergreen's geology team has confirmed
high-grade potential, paving the way for a drilling campaign to expand and
upgrade the resource

·      Strategically located in WA's prolific central Goldfields, the
project benefits from proximity to two large-scale gold processing plants
within 40km, offering clear pathways to production

 

Link here
(https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02965923-6A1272278&v=4a466cc3f899e00730cfbfcd5ab8940c41f474b6)
to view the full EG1 ASX announcement

 

EG1 Chairman Simon Lill commented: "Our geology team has hit the ground
running, with a successful site visit providing critical insights to formulate
the inaugural drilling campaign. The Board believes there is considerable
scope to create significant value for shareholders as we unlock the full
potential of the Leonora Goldfields Project, leveraging its existing 63,000oz
Au resource and historical high-grade drill results."

 

Cadence's Holding in EG1

As of the date of this announce Cadence holds approximately 5.1% of EG1's
issued share capital.

 For further information contact:

 Cadence Minerals plc                                         +44 (0) 20 3582 6636
 Andrew Suckling
 Kiran Morzaria

 Zeus Capital Limited (NOMAD & Broker)                        +44 (0) 20 3829 5000
 James Joyce
 Darshan Patel

 Fortified Securities - Joint Broker                          +44 (0) 20 3411 7773
 Guy Wheatley

 Brand Communications                                         +44 (0) 7976 431608
 Public & Investor Relations
 Alan Green

 

Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information
contained in this announcement. Kiran holds a Bachelor of Engineering
(Industrial Geology) from the Camborne School of Mines and an MBA (Finance)
from CASS Business School.

 

Cautionary and Forward-Looking Statements

Certain statements in this announcement are or may be deemed to be
forward-looking statements. Forward-looking statements are identified by
their use of terms and phrases such as "believe", "could", "should",
"envisage", "estimate", "intend", "may", "plan", "will", or the negative of
those variations or comparable expressions including references to
assumptions. These forward-looking statements are not based on historical
facts but rather on the Directors' current expectations and assumptions
regarding the company's future growth results of operations performance,
future capital, and other expenditures (including the amount, nature, and
sources of funding thereof) competitive advantages business prospects and
opportunities. Such forward-looking statements reflect the Directors' current
beliefs and assumptions and are based on information currently available to
the Directors.  Many factors could cause actual results to differ materially
from the results discussed in the forward-looking statements, including risks
associated with vulnerability to general economic and business conditions,
competition, environmental and other regulatory changes actions by
governmental authorities, the availability of capital markets reliance on key
personnel uninsured and underinsured losses and other factors many of which
are beyond the control of the company. Although any forward-looking statements
contained in this announcement are based upon what the Directors believe to be
reasonable assumptions. The company cannot assure investors that actual
results will be consistent with such forward-looking statements.

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