REG - Imara Gold PLC - MOU Signed with Geowise Resources (Pty) Limited

IMARA GoldAnnouncement

26/11/2025 10:45

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RNS Number : 1066J  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')

Memorandum of Understanding Signed for Major Botswana Gold Strategic
Partnership

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
Geowise Resources (Pty) Limited ("Geowise") which formalises a strategic
partnership over exploration licenses with Geowise, with the key objectives of
identifying high-value gold exploration and near-term mine development
projects in Botswana.

Geowise is a well established and highly experienced exploration, geological
and geosciences company, with a broad portfolio of gold and precious metal,
base metal, critical minerals and bulk commodity projects located throughout
Botswana.

Under the terms of the MOU, Imara and Geowise, have identified an initial two
exploration licenses (the "Projects"), that Imara will be granted a 90-day
exclusive period of time to complete its preliminary technical due diligence
on. In return for being granted this exclusivity, Geowise 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 satisfactory due diligence by Imara on the Projects, it is
proposed that Imara and Geowise will then agree the key commercial terms and
relevant shareholding in new gold joint ventures to be established over the
Projects. The parties will at that point in time also agree on a schedule of
activities and a budget to carry out the entire gold exploration, resource
estimation and planning for feasibility studies to facilitate gold mining
activities to commence on the Projects. These exploration programs will
include amongst other things, remote sensing studies, geological mapping,
systematic trenching and channel sampling followed by planning of boreholes
and core drilling, core logging and analysis of cores and fire assay for gold
and silver.

Imara has agreed to appoint Geowise as the Project Manager of each of the
proposed gold exploration joint ventures and to carry out the entire
exploration work and ascertain feasibility of the Projects to commence
commercial mine development and gold production.

The Company and Geowise have agreed that the MOU will focus initially on the
prospecting licences PL002146/2025 and PL00222/2025 which are located in the
Tati Greenstone Belt and in Serule respectively and which extend over an area
of 1,616km(2).

The strategic partnerships with Geowise reinforce Imara's commitment to
achieving its strategy of positioning itself as a leading and diversified
gold-focused mining and exploration company in Africa.

The decision to expand the Company's activities into Botswana, in addition to
its activities in Kenya, Tanzania and Zambia, is based on the highly
attractive and proven gold endowment in the country's greenstone belts and the
country's stable government, pro-mining policies and established
infrastructure which makes it a highly attractive and secure location for gold
mining operations, with strong regulatory support and reduced operational and
investment risks.

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 2,679,911,925.

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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