REG - Halo Minerals PLC - Filing of Maritime Concession Application

Halo MineralsAnnouncement

01/05/2026 07:01

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RNS Number : 6863C  Halo Minerals PLC  01 May 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE UK MARKET ABUSE REGULATION

 

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR
IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF
AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED
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DISTRIBUTION WOULD BE UNLAWFUL.

1 May 2026

Halo Minerals PLC

("Halo Minerals", the "Company" and, together with its subsidiaries, the
"Group")

Filing of Maritime Concession Application - Offshore Extension at Playa Verde

Halo Minerals PLC (AIM: HALO), the copper development company focused on
extracting critical minerals from legacy mining waste, is pleased to announce
it has commenced the procedure to file a formal maritime concession
application with the Chilean maritime authority (Subsecretaría para las
Fuerzas Armadas, Dirección General del Territorio Marítimo y de Marina
Mercante, "DIRECTEMAR") and Ministry of National Defence (Subsecretaría para
las Fuerzas Armadas, "SSFFAA"). The maritime concession will cover the
shoreline and offshore area immediately adjacent to the Company's flagship
Playa Verde Project in Chañaral, Atacama Region. Based on historic
bathymetric surveys, academic research, and company investigations, Halo
estimates that approximately 100 million tonnes of copper-bearing
tailings-originating from the same source as the 53 million tonne
JORC-compliant resource and 32 million tonnes of ore reserves owned by Halo
onshore-remain within its mining licenses. These licenses extend into the bay
area and may be suitable for hydraulic recovery and reprocessing.

As part of the application process, the field work for the high-water line
survey was completed last week, marking the first step of the procedure.

Andrew Dennan, Chief Executive Officer, commented:

"Halo Minerals was admitted to trading on AIM on the strength of its 53Mt
onshore resource and the filing for the maritime concession is a natural and
material extension. This secures potential access to more than double the
tonnage we already have sitting onshore in shallow water and are highly
synergistic materials to process through the plant that will be installed to
re-treat the onshore Ore Reserves.

Our model has always been focused on the development and production of key
strategic and battery metals from legacy mine waste through responsible
reprocessing. Recovering these offshore tailings would significantly boost
copper production, extend mine life, and directly address a 50-year legacy
issue for the community of Chañaral. We will progress the application
transparently with the authorities and local stakeholders."

Background - Playa Verde

·     The Group's principal asset comprises six mining concessions
covering approximately 13.57km² of copper-bearing tailings located in the
coastal town of Chañaral

·   JORC (2012) Mineral Resource of 53Mt at 0.24% Cu, including Proved and
Probable Ore Reserves of 32.2Mt at 0.25% Cu containing 79,359 tonnes of fine
copper in situ covers the "on-shore" beach and surf-zone areas only

·     Ore Reserves-only economics (CPR): post-tax NPV10 of US$154.1
million and IRR of 50.9% at US$5.30/lb Cu and US$4,300/oz Au

Maritime Concession - Key Points

·     Application area: contiguous offshore block contained within
existing mining licenses extending from the low-water mark to approximately
1.5km seaward, covering the historic submarine tailings footprint at Chañaral
Bay.

·     Historical context: an estimated 250 million tonnes of tailings were
discharged into Chañaral Bay by the former El Salvador and Potrerillos mines
between the 1930s and 1978, forming artificial beaches over 5km long and
extending out into the bay area.

·    Based on historic bathymetric surveys, academic research, and company
investigations, Halo estimates that approximately 100 million tonnes of
copper-bearing tailings-originating from the same source as the 53 million
tonne JORC-compliant resource and 32 million tonnes of ore reserves owned by
Halo onshore-remain within its mining licenses. These licenses extend into the
bay area and may be suitable for hydraulic recovery and reprocessing. The
maritime concession, if granted, would provide Halo with exclusive rights to:

1.   conduct marine surveys, sampling and environmental baseline studies;

2.   undertake pilot-scale recovery trials; and

3.  ultimately, subject to approval of a separate environmental impact
assessment study, integrate offshore material into the planned Playa Verde
processing flowsheet.

The application is consistent with Chile's policy encouraging remediation of
historic coastal deposits. Reprocessing removes a source of marine
environmental liabilities while recovering copper and gold without new
hard-rock mining.

Figure 1 - Location of mining concessions

Next Steps

·      DIRECTEMAR and SSFFAA public notice period (expected by end of Q2
2026)

·      Baseline environmental studies and community consultation in
Chañaral, in parallel with onshore DFS optimisation work

·      Subject to the granting of the maritime concession application, a
phased offshore resource definition programme to upgrade the potential ~100Mt
historic estimate to a JORC-compliant Exploration Target and, in due course,
Mineral Resource

The Company will provide further updates as the application progresses. The
maritime concession remains subject to grant by SSFFAA and subsequent
environmental permitting; there is no guarantee of timing or outcome, and the
~100Mt figure is currently a historic, non-JORC estimate that requires
verification.

The Directors of the Company are responsible for the release of this
announcement.

Enquiries:

 Halo Minerals PLC                        Via Tavistock below

 Andrew Dennan, Chief Executive Officer

 Frank Jackson, Chief Financial Officer
 Information@HaloMinerals.co.uk
 www.halominerals.co.uk

 Cairn Financial Advisers LLP (NOMAD)     +44 20 7213 0880
 Ludovico Lazzaretti

 Liam Murray

 James Western

 Global Investment Strategy (Broker)      +44 20 7048 9045
 Christopher Kipling

 Tavistock (Public Relations)             +44 20 7920 3150
 Nick Elwes

 Josephine Clerkin

 Gareth Tredway

 

 

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market and business conditions, competition for qualified
staff, the regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political jurisdiction,
uncertainties regarding the results of exploration, uncertainties regarding
the timing and granting of prospecting rights, uncertainties regarding the
Company's ability to execute and implement future plans, and the occurrence of
unexpected events.   Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.

Notes to Editors

Halo Minerals PLC is the 100% owner of the Playa Verde project, an advanced
copper tailings project focused on reprocessing metal rich historic tailings
which have accumulated onto a beach located in the Atacama region of Chile.
The project is a technically de-risked and in October 2025 received unanimous
approval for its EIA from the Chilean Government's Ministerial Committee.

Playa Verde has a JORC compliant resource of 53.4 Mt @ 0.24% Cu, which
includes reserves of 32.2 Mt @ 0.25% Cu, and is updating its DFS for dredging
and retreatment initially targeting the reserves of ore located on the beach
followed by up to a further 21 Mt of ore contained in the western berm and
shoreline area. The project is well placed with significant upside in securing
the rights to process up to a further ~100Mt of offshore potential resource
which originated from the same historical mining operations as the onshore
resource.

Halo Minerals plans to advance the Playa Verde project on an accelerated
timeline to production with funds raised expected to take the project to a
final investment decision. Financial analysis estimates operating costs of
only $2.19 per pound of copper produced, with the processing of the reserves
having an NPV10 of US$ 154.1 million and an IRR of 50.9% after tax from a 7
year life of mine to produce the 32.2 Mt of reserves (based on static
commodity price assumptions of $5.30/lb Cu and $4,300/oz Au).

The Company's philosophy is "Mining with a difference" working with the
community to detoxify the region, returning the re-treated beach back to the
local community whilst economically producing key strategic and battery metals
to the benefit of all stakeholders.

 

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