REG - Caracal Gold PLC - Group Mineral Resource Estimate

Caracal GoldAnnouncement

Wed 14:00

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RNS Number : 4513P  Caracal Gold PLC  02 July 2025

Caracal Gold Plc

('Caracal' or the 'Company')

Group JORC Compliant Mineral Resource Estimate

Caracal Gold Plc, the East African focused gold company is pleased to provide
its Mineral Resource Estimate for its gold projects located in Kenya and
Tanzania.

The Mineral Resource Estimate has been completed in accordance with the
Australasian Joint Ore Reserves Committee Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves 2012 (the "JORC Code" or "the
Code").

Over the past 12 months, there has been no significant exploration or mining
activities conducted by the Company and no updates have been made to the
Mineral Resource Statement that was previously released in an RNS dated 13
July 2023.

 2024 Group Mineral Resource Estimate
 Summary   Measured and Indicated                      Inferred                                    Total
           Tonnes (Mt)  Grade (g/t)  Ounces ('000ozs)  Tonnes (Mt)  Grade (g/t)  Ounces ('000ozs)  Tonnes (Mt)  Grade (g/t)  Ounces ('000oz)
 Kenya     7.8          1.59         398               6.25         1.53         308               14.06        1.56         706
 Tanzania  8.1          1.67         436               4.3          1.61         223               12.3         1.67         659
 GROUP     15.9         1.63         834               10.55        1.57         531               26.36        1.61         1,365

 

The Group Mineral Resource Estimate has been signed off by the Company's
Interim-Exploration Manager, who previously oversaw the exploration and
resource drilling programs completed by the Company in 2022 and has reviewed
the previous Group Mineral Resource Estimate prepared by Mr. Franck Bizouerne,
P.Geo., the former Group Mineral Resource Manager and Competent Person of the
Company.

 

The Company is planning to recommence gold exploration activities in East
Africa later in 2025 once it has completed its proposed balance sheet
recapitalisation and debt and equity refinancing plans.

 

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).

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.

Glossary of Terms:

"g/t" - grammes per tonne, equivalent to parts per million

"Inferred Resource" - that part of a Mineral Resource for which tonnage,
grade and mineral content can be estimated with a low level of confidence. It
is inferred from geological evidence and assumed but not verified geological
and/or grade continuity. It is based on information gathered through
appropriate techniques from locations such as outcrops, trenches, pits,
workings and drill holes which may be limited or of uncertain quality and
reliability

"Indicated Resource" - that part of a Mineral Resource for which tonnage,
densities, shape, physical characteristics, grade and mineral content can be
estimated with a reasonable level of confidence. It is based on exploration,
sampling and testing information gathered through appropriate techniques from
locations such as outcrops, trenches, pits, workings and drill holes. The
locations are too widely or inappropriately spaced to confirm geological
and/or grade continuity but are spaced closely enough for continuity to be
assumed

"JORC" - The Australasian Joint Ore Reserves Committee Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves 2012 (the "JORC Code"
or "the Code"). The Code sets out minimum standards, recommendations and
guidelines for Public Reporting in Australasia of Exploration Results, Mineral
Resources and Ore Reserves

"Measured Resource" - that part of a Mineral Resource for which tonnage,
densities, shape, physical characteristics, grade and mineral content can be
estimated with a high level of confidence. It is based on detailed and
reliable exploration, sampling and testing information gathered through
appropriate techniques from locations such as outcrops, trenches, pits,
workings and drill holes. The locations are spaced closely enough to confirm
geological and grade continuity

"Mineral Resource" - a concentration or occurrence of material of intrinsic
economic interest in or on the Earth's crust in such form, quality and
quantity that there are reasonable prospects for eventual economic extraction.
The location, quantity, grade, geological characteristics and continuity of a
Mineral Resource are known, estimated or interpreted from specific geological
evidence and knowledge. Mineral Resources are sub-divided, in order of
increasing geological confidence, into Inferred, Indicated and Measured
categories when reporting under JORC

"Mt" - million tonnes

"oz" - troy ounce (= 31.103477 grammes)

"Reserve" - the economically mineable part of a Measured and/or Indicated
Mineral Resource

"t" - tonne (= 1 million grammes)

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