REG - Mila Resources Plc - Result of GM, Yarrol Work Programme & TVR

Mila ResourcesAnnouncement

Mon 10:30

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RNS Number : 0044Q  Mila Resources PLC  07 July 2025

 

7 July 2025

Mila Resources Plc

("Mila" or the Company")

Result of General Meeting,

Issue of Equity,

Yarrol Work Programme

& Total Voting Rights

 

 

Mila Resources Plc (LSE:MILA), the post-discovery gold exploration
accelerator, is pleased to announce the following updates:

 

General Meeting Results

The Company confirms that both resolutions put to shareholders at this
morning's General Meeting (the "GM") were duly passed.

 

Issue of Equity

 

Accordingly, the Company announces that application has been made for
110,870,533 New Ordinary Shares of 0.1p ("New Ordinary Shares") in relation to
the placing of 108,013,391 and subscription of 2,857,142 by Mark Stephenson, a
director or the Company. The Company raised gross proceeds of £776,000 from
the placing and subscription to fully fund the next phase of exploration.

 

The Company has applied for the New Ordinary Shares to be admitted to trading
on the Equity Shares (Transition) category of the Official List and the main
market of the London Stock Exchange ("Admission").  It is expected that
Admission will come effective and that dealings in the New Ordinary Shares
will commence from 8.00 a.m. on 8 July 2025.

 

Yarrol Work Programme H2 2025 & Launch of work at Monal and Mt Steadman

 

The Company is now fully funded to undertake a comprehensive exploration
programme that will be underpinned by both infill and step out drilling along
the Yarrol fault to drive the Company towards building its maiden JORC
Compliant Mineral Resource Estimate.  Also, the Company is delighted to
commence work on the Monal and Mt Steadman licences.

 

 

 Specialist Mineral Resource Review - Q3  Consultants engaged to review to complete a gap analysis and helping to target
                                          further drilling campaigns

 Structural Review - Q3                   from the exploration work completed the team has confirmed that the
                                          mineralisation has a strong structural control, and the structural review is
                                          intended to define the high-grade shoots within the larger moderate grade
                                          orebody mass

 Infill Diamond Drilling - Q3             Following the recent RC drilling, the Company will use Diamond Drilling to
                                          commence by the end of Q3 2025 to support the structural review and will be
                                          shaped by the resource review.

 Extensions to geophysical surveys - Q3   To support the next phase of priority targets for the step out drilling

 Step out RC Drilling - Q4                RC drilling campaign in Q4 2025 to step out along 8km of the Yarrol fault, a
                                          ~20km geological feature.

 Monal & Mt Steadman Q3 & Q4              Prioritise drill targets to test historic the non-compliant resources, in

                                        addition to geophysical and geological targets.

 

Further updates regarding the Company's upcoming work programmes across
Yarrol, Monal and Mt Steadman will be issued in due course, in addition to
further reviews of the Kathleen Valley Project, as Mila looks to maximise its
value for shareholders.

 

Total Voting Rights

 

Following Admission, the total issued share capital of the Company will
consist of 652,835,116 Ordinary Shares each with one voting right. The Company
does not hold any Ordinary Shares in treasury. Therefore, the total number of
voting rights in the Company will be 652,835,116 and this 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 in
their interest in, the share capital of the Company under the FCA's Disclosure
Guidance and Transparency Rules.

 

**ENDS**

 

For more information visit www.milaresources.com or contact:

 

 Mark Stephenson                info@milaresources.com

 Mila Resources Plc

  
 Jonathan Evans                 +44 (0) 20 7100 5100

 Tavira Financial Limited

  
 Nick Emerson                   +44 (0) 20 3143 0600

 SI Capital

  
 Damon Heath                    +44 (0) 20 3971 7000

 Shard Capital Partners LLP

  
 Susie Geliher / Will Turner    +44 (0) 20 7236 1177

 St Brides Partners Limited

 

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