REG - East Star Resources - Verkhuba - Offers Received

East Star ResourcesAnnouncement

04/07/2024 07:00

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RNS Number : 0451V  East Star Resources PLC  04 July 2024

4 July 2024

East Star Resources Plc

("East Star" or the "Company")

Verkhuba - Offers Received

 

East Star Resources Plc (LSE:EST), the Kazakhstan focused copper exploration
and resource development company, is pleased to announce that it has received
a number of verbal and written offers pursuant to the formal process announced
on 3 April 2024 with regards to the Company's 100%-owned Verkhuba copper
deposit ("Verkhuba") in the Rudny Altai VMS Belt. While the Board has not
formally accepted an offer, the process of vetting counterparties has begun.

 

While there is no guarantee an offer will be accepted and agreement completed,
it is the Company's intention to finalise the process as soon as practicable.
 

 

Alex Walker, CEO, commented:

"We're pleased with the level of interest in the Verkhuba asset, with some
parties' interest going beyond Verkhuba to working with East Star more
broadly. We now look forward to finalising this offer process.

 

Our field teams have been working since early June, conducting mapping and
litho-geochemical sampling over priority targets in the Rudny Altai VMS
licences to ensure the best are selected for drill testing this year. We look
forward to providing a more detailed update on this work in the near future."

 

East Star Resources Plc

Alex Walker, Chief Executive Officer

Tel: +44 (0)20 7390 0234 (via Vigo Consulting)

 

SI Capital (Corporate Broker)

Nick Emerson

Tel: +44 (0)1483 413 500

 

Peterhouse Capital Limited (Corporate Broker)

Peter Greensmith

Tel: +44 (0) 20 7469 0930

 

Vigo Consulting (Investor Relations)

Ben Simons / Peter Jacob

Tel: +44 (0)20 7390 0234

 

About East Star Resources Plc

 

East Star Resources is focused on the discovery and development of strategic
minerals required for the energy revolution. With eight licences covering
>1,000 km² in three mineral rich districts of Kazakhstan, East Star is
undertaking an intensive exploration programme, applying modern geophysics to
discover minerals in levels that were not previously explored. East Star's
most advanced project is a copper deposit on the world-class Rudny Altai VMS
Belt where the Company is working towards the delivery of a JORC compliant
open pit copper resource close to infrastructure, within trucking distance of
third-party mills with excess capacity. East Star's management are based
permanently on the ground, supported by local expertise, a joint venture with
the state mining company on certain projects, and grant funding from BHP
through the BHP Xplor programme for copper porphyry exploration.

 

Visit our website:

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

 

Follow us on social media:

LinkedIn: https://www.linkedin.com/company/east-star-resources/
(https://www.linkedin.com/company/east-star-resources/)

 

X (formerly Twitter): https://twitter.com/EastStar_PLC
(https://twitter.com/EastStar_PLC)

 

Subscribe to our email alert service to be notified whenever East Star
releases news:

 

www.eaststarplc.com/newsalerts (http://www.eaststarplc.com/newsalerts)

 

The person who arranged for the release of this announcement was Alex Walker,
CEO of the Company.

 

This announcement contains inside information for the purposes of Article 7 of
Regulation 2014/596/EU which is part of domestic UK law pursuant to the Market
Abuse (Amendment) (EU Exit) Regulations (SI 2019/310) ("UK MAR"). Upon the
publication of this announcement, this inside information (as defined in UK
MAR) is now considered to be in the public domain.

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