REG - Imara Gold PLC - MOU Signed with Corestone Minerals (Pty) Limited

IMARA GoldAnnouncement

26/11/2025 11:00

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RNS Number : 1068J  Imara Gold PLC  26 November 2025

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE
REGULATION(EU) NO. 596/2014, AS AMENDED WHICH, BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018, FORMS PART OF UK LAW. ON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Imara Gold Plc

('Imara Gold' or the 'Company')

Second Memorandum of Understanding Signed to Further Expand Strategic Gold
Partnerships in Botswana

Imara Gold Plc (LSE: IGLD), the African focused gold company, is pleased to
announce that it has entered into a Memorandum of Understanding ("MOU") with
Corestone Minerals (Pty) Limited ("Corestone") over several exploration
licenses in Botswana, which further expands the Company's strategic
partnerships in the country targeting high-value gold exploration and
projects.

The signing of the MOU with Corestone, follows the Company's earlier
announcement of today, of a further Memorandum of Understanding and strategic
partnership that has already been signed with Geowise Exploration (Pty)
Limited over gold exploration licenses located in the Tati Greenstone Belt and
in Serule respectively.

Corestone is an experienced Botswana based and owned exploration, geological
and geosciences company, that holds exploration licenses across a broad
portfolio of gold and precious metal and other minerals located throughout
Botswana.

Under the terms of the MOU with Corestone, Imara will be granted a 90-day
exclusive period of time to complete a preliminary technical due diligence on
the initial several exploration licenses under the MOU. These licences include
PL002920/2025, PL003027/2025, PL003028/2025, PL002945/2025, PL003075/2025 and
PL003089/2025, and which extend over an area of 5,416km(2) of what is
considered highly prospective gold, precious metals and other minerals within
the Molopo Farms Complex, Kraipan Belt, Letlhakane, Tsetseng Complex and Xade
Complex

In return for being granted this exclusivity, Corestone will be issued with
ordinary shares in Imara to the value of GBP 50,000 at a price of 0.3 pence
per share (the "Exclusivity Shares").

On completion of a satisfactory due diligence, the key commercial terms and
respective shareholdings in the proposed new gold joint ventures over the
Projects are to be agreed by Imara and Corestone, along with finalisation of a
detailed exploration program and budget to take the Projects through to
completion of gold resource estimation and feasibility study work. All
exploration work is to be completed by Corestone, whom the Company has agreed
to appoint as Project Manager of the proposed gold exploration joint ventures
on the Projects.

This second strategic partnership in Botswana demonstrates the Board of
Directors focus on delivering value to its shareholders and establishing the
Company as a leading and diversified gold-focused mining and exploration
company in Africa.

Botswana is rated the number one mining jurisdiction in Africa by the Fraser
Institute, and the Company has very quickly established strategic partnerships
with two established and proven gold exploration and geological and
geosciences companies in the country and further secured options over several
exploration licenses extending over 7,000km(2) of what is considered highly
prospective exploration ground.

Exclusivity Shares and Total Voting Rights:

The Exclusivity Shares will be freely tradable, not subject to any trading
restrictions or lock-in provisions and free of any encumbrances.

The Exclusivity Shares, when issued, will be fully paid and will rank pari
passu in all respects with the existing ordinary shares, including the right
to receive all dividends and other distributions declared, made or paid after
the date of issue.

Following issuance of the Exclusivity Shares, the total number of ordinary
shares with voting rights in issue in the Company will be 2,696,578,592.

The above figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.

 

* * ENDS * *

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

For enquiries contact:

 Imara Gold plc

 Jason Brewer                                       jason@imaragoldplc.com

 Shareholder Enquiries                              info@imaragoldplc.com

 Bowsprit Partners Limited (Financial Adviser)      +44 (0) 203 833 4430

 

Notes:

Imara Gold plc is an expanding African focused gold company with a clear
strategy to grow gold production and gold resources both organically and
through strategic acquisitions and partnerships in East Africa.

Headquartered in Nairobi, Kenya, Imara 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 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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