REG - Metals Exploration - Agreement with Artisanal Miners at La India

Metals ExplorationAnnouncement

08/08/2025 10:00

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RNS Number : 6029U  Metals Exploration PLC  08 August 2025

8 August 2025

 

METALS EXPLORATION PLC

 

Agreement with Artisanal Miners at La India

 

Metals Exploration plc (AIM: MTL) ("Metals Exploration", the "Company" or the
"Group"), a gold production, exploration, and development company with assets
in the Philippines and Nicaragua, is pleased to provide an update on the
status of  negotiations with artisanal miners operating within the La India
project area in Nicaragua.

 

Following the Group's acquisition of the Nicaraguan La India Project, which
completed in January 2025,  Metals Exploration commenced direct negotiations
with the artisanal miners occupying large portions of the mining area. These
artisanal miners were legally mining in the area under a co-operative
("Cooperativa") that owned a small portion of land within the project's mining
area. Some of the artisanal miners were also mining outside of this area by
encroaching into the proposed La India open-pit profile.

 

The negotiations, based on agreeing compensation for Metals Exploration to
acquire the relevant land parcel and the rights of occupation, were
successfully concluded in April of this year. The Company is pleased to
confirm that the Cooperativa has been in full compliance of the agreement, by
vacating the relevant land during July, and the agreements with the
Cooperativa were successfully enacted during this period. All mining areas
within the proposed La India main open- pit are now free of artisanal
miners.

 

Negotiations in relation to other areas occupied by artisanal miners are
ongoing.  Metals Exploration is working with the Nicaraguan government to
find an integrated solution whereby, small and larger scale mining, can
co-exist within a single tenement area for the benefit of the local community,
artisanal miners and the Company. This would involve the construction of small
scale facilities and the allocation of areas for artisanal miners to operate
within. These areas would be uneconomic for large scale development. Under
this programme the current uncontrolled environmental emissions from the
small-scale gold bearing ore processing plants can be dismantled and removed
thereby allowing the rehabilitation of the areas and ensuring the risks of
long term environmental damages are minimised or removed completely. This
programme will be carried out in accordance with international environmental
standards and in conjunction with government mandates.

 

Darren Bowden, CEO of Metals Exploration, commented:

 

"We are pleased to have reached a fair and constructive agreement with the
Cooperativa and appreciate their full compliance with the agreed terms. Our
continued collaboration with the Nicaraguan government and local communities
is aimed at establishing a sustainable framework where both artisanal and
large-scale mining can operate side-by-side, delivering long-term benefits to
all stakeholders while upholding the highest environmental and social
standards."

 

 

-END-

For further information, please contact or visit:

 

 Metals Exploration PLC
 Via BlytheRay                                   +44 (0) 207 138 3204

 Nominated & Financial Adviser:                  STRAND HANSON LIMITED
 James Spinney, James Dance, Rob Patrick         +44 (0) 207 409 3494
 Joint Broker:                                   HANNAM & PARTNERS
 Matt Hasson, Franck Nganou                      +44 (0) 207 907 8500

 Joint Broker                                    PANMURE LIBERUM

 Scott Mathieson, Amrit Mahbubani, Zak Wadud     +44 (0) 20 3100 2000

 Public Relations:                               BLYTHERAY
 Megan Ray, Said Izagaren                        +44 (0) 207 138 3204

metalsexploration@blytheray.com

 

Web:                      www.metalsexploration.com
(http://www.metalsexploration.com)

X:                            @MTLexploration
(https://twitter.com/MTLexploration)

LinkedIn:               Metals Exploration
(https://www.linkedin.com/company/metals-exploration-plc)

 

Forward Looking Statements

Certain statements relating to the estimated or expected future production,
operating results, cash flows and costs and financial condition of Metals
Explorations, planned work at the Company's projects and the expected results
of such work contained herein are forward-looking statementswhich are based on
current expectations, estimates and projections about the potential returns of
the Group, industry and markets in which the Group operates in, the Directors'
beliefs and assumptions made by the Directors. Forward-looking statements are
statements that are not historical facts and are generally, but not always,
identified by words such as the following: "expects", "plans", "anticipates",
"forecasts", "believes", "intends", "estimates", "projects", "assumes",
"potential" or variations of such words and similar expressions.
Forward-looking statements also include reference to events or conditions that
will, would, may, could or should occur. Information concerning exploration
results and mineral reserve and resource estimates may also be deemed to be
forward-looking statements, as it constitutes a prediction of what might be
found to be present when and if a project is actually developed.

 

These statements are not guarantees of future performance or the ability to
identify and consummate investments and involve certain risks, uncertainties
and assumptions that are difficult to predict, qualify or quantify. Among the
factors that could cause actual results or projections to differ materially
include, without limitation: uncertainties related to raising sufficient
financing to fund the planned work in a timely manner and on acceptable terms;
changes in planned work resulting from logistical, technical or other factors;
the possibility that results of work will not fulfil projections/expectations
and realize the perceived potential of the Company's projects; uncertainties
involved in the interpretation of drilling results and other tests and the
estimation of gold reserves and resources; risk of accidents, equipment
breakdowns and labour disputes or other unanticipated difficulties or
interruptions; the possibility of environmental issues at the Company's
projects; the possibility of cost overruns or unanticipated expenses in work
programs; the need to obtain permits and comply with environmental laws and
regulations and other government requirements; fluctuations in the price of
gold and other risks and uncertainties.

 

The Company expressly disclaims any obligation or undertaking to disseminate
any updates or revisions to any forward looking statements contained herein to
reflect any change in the Group's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statements are
based unless required to do so by applicable law or the AIM Rules.

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