REG - Caracal Gold PLC - Exclusivity Agreement with Pumba Resources Limited

Caracal GoldAnnouncement

01/08/2025 12:30

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RNS Number : 6650T  Caracal Gold PLC  01 August 2025

Caracal Gold Plc

('Caracal' or the 'Company')

Exclusivity Agreement Signed with Pumba Resources Limited

Caracal Gold Plc, the East African focused gold company, is pleased to
announce that it has entered into an exclusivity agreement with Tanzanian
mining and exploration company, Pumba Resources Limited ("Pumba Resources"),
in respect to its portfolio of gold prospecting licence applications located
in the Geita and Singida Regions in the Republic of Tanzania.

Under the terms of the exclusivity agreement, Caracal has been granted a
four-month exclusivity period ending 30 November 2025, during which it will
conduct legal, technical and financial due diligence on the licences, projects
and associated assets. Upon completion of a satisfactory due diligence review,
Caracal has the exclusive rights to finalise commercial terms in respect to a
potential exploration and mine development joint venture agreement with Pumba
Resources.

The licenses are considered highly prospective for gold mining, extraction and
development, and are all located in the Geita and Singida Regions of Tanzania.
These regions are some of the country's largest gold mining areas in Tanzania
and are host to major gold mining operations operated by Anglogold Ashanti
Limited and by Shanta Gold.

Pumba Resources' portfolio of gold prospecting licenses extend over an area of
approx. 30km(2) and include PL 30889/2025, PL 30761/2025, PL 30759/2025 and PL
32143/2025.

The Company has agreed to issue Pumba Resources with ordinary shares to the
value of £50,000 at a price of 0.3 pence per share ("Exclusivity Shares") as
a fee for entering into the exclusivity agreement. The shares will be issued
on the resumption of trading in the Company's shares on the London Stock
Exchange.

Pumba Resources is an opportunity-driven company focused on building strategic
partnerships across East Africa. It is advancing both gold and critical
battery metal resources throughout East Africa. Caracal's management believe
the partnership with the team at Pumba Resources will create further gold
exploration and mining opportunities in the region.

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed
in accordance with the Company's obligations under Article 17 of MAR.

* * ENDS * *

For further information visit www.caracalgold.com or contact the following:

 Caracal Gold plc

 Jason Brewer            jason@gathonimuchaiinvestments.com

 Shareholder Enquiries   info@gathonimuchaiinvestments.com

 

Notes:

Caracal Gold plc is an expanding East African focused gold company with a
clear strategy to grow production and resources both organically and through
strategic acquisitions. Its immediate aim is to recommence and rapidly
increase production to +50,000ozs p.a. and build a JORC compliant resource
base of +3Moz. The Company is progressing a well-defined mine optimisation
strategy at its 100% owned Kilimapesa Gold Mine in Kenya, where there is
significant mid-term expansion potential and the ability to increase gold
production to 24,000oz p.a. and the resource to +2Moz (current JORC compliant
resources of approx. 706,000oz). Alongside this, Caracal is undertaking a
targeted exploration programme at the Nyakafuru Project in Tanzania, which has
an established high-grade shallow gold resource of 658,751oz at 2.08g/t
contained within four deposits over 280 km2 and appears amenable to
development as a large scale conventional open pit operation.

Caracal's experienced team has a proven track record in successfully
developing and operating mining projects throughout Africa.

The Company is a responsible mining and exploration company and supports the
positive social and economic change that it contributes to the communities in
the regions that it operates. It is a proudly East African-focused company: it
buys locally, employs locally, and protects the environment and its employees
and their families' health, safety, and wellbeing.

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