REG - Metals Exploration - Commencement of Construction at La India

Metals ExplorationAnnouncement

08/05/2025 07:01

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RNS Number : 8566H  Metals Exploration PLC  08 May 2025

8 May 2025

METALS EXPLORATION PLC

Commencement of Construction at La India

Metals Exploration plc (AIM: MTL) ("Metals Exploration", the "Company" or,
together with its subsidiaries, the "Group"), a gold production, exploration,
and development company with assets in the Philippines and Nicaragua, is
pleased to announce that it has commenced infrastructure construction at the
Group's La India project in Nicaragua (the "Project").

The official opening ceremony to celebrate the commencement of construction at
the Project was attended by special guests including Metals Exploration
Executives, local employees, leaders of the mining and economic sectors in
Nicaragua, and the important representation of the municipal mayors of Santa
Rosa del Peñón and El Jicaral, in the department of León.

During the ceremony, Darren Bowden, CEO of Metals Exploration, gave a speech
which highlighted the importance of the La India Mine, and emphasised the
Company's commitment to sustainable development, ensuring long-term
environmental, social and economic value for the communities surrounding the
Project, and for the country as a whole. The Project aims to provide a
positive point of reference for the future of mining in Nicaragua and the
Central American region.

In his speech, Darren Bowden explained that during the construction phase, the
Project will employ more than 1,600 people. Once in operation, the Project
will generate over 1,000 local jobs. The La India Mine is expected to commence
production in December 2026.

"We are proud to be delivering this important Project, which will have a
highly positive impact on the development and economic growth of the
surrounding communities, and for the entire Nicaraguan nation," said Mr.
Bowden.

The Country Manager, Aiser Sarria, reported that, to date, there has already
been in excess of US$40 million invested in the execution of environmental and
geological studies, exploration work, and a series of social, environmental
and economic programmes for the benefit of the communities surrounding La
India Mine. In particular, the Community Training Programme, which was
initiated in June 2021, continues to promote the participation of young
professionals in the Project.

"Metals Exploration is committed to a vision of sustainable development as it
progresses the construction of the La India Mine. An example of this can be
seen in the Community Training Programme, as we believe that contributions
from young professionals will help ensure a positive future for the Project,"
emphasised Mr Sarria.

Mr Sarria also mentioned that, since its inception in Nicaragua, the Company
has been working at high environmental and social standards, ensuring that, at
all stages of development, the Project complies with the plans duly authorised
by the different government agencies; with national and international
standards; and with Nicaraguan laws, including with regards to human rights
and environmental, social and industrial safety.

The La India Mine has reserves of approximately 2.2 million ounces of gold,
and an initial annual production target of 145,000 ounces of gold.

 

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
 Broker:                                  HANNAM & PARTNERS
 Matt Hasson, Franck Nganou               +44 (0) 207 907 8500

 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)

 

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