REG - Nativo Resources Plc - Maiden JORC Exploration Target for Tesoro, Peru

Nativo ResourcesAnnouncement

11/05/2026 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260511:nRSK7298Da&default-theme=true

RNS Number : 7298D  Nativo Resources Plc  11 May 2026

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

11 May 2026

Nativo Resources Plc

("Nativo" or the "Company")

 

Maiden JORC Exploration Target for Tesoro Gold Concession, Peru

Target highlights significant concession-wide upside potential across multiple
veins

Nativo Resources plc (LON: NTVO), the Peru-focused gold mining company, is
pleased to announce a JORC (2012)-compliant Exploration Target for the
Bonanza, Tesoro, Tesoro_1 and Morrocota vein systems within its wholly owned
Tesoro concession in southern Peru.

Highlights

•     Contained gold of approximately 6,686 - 195,434 oz

•     Tonnages between 79,051 to 316,200 t

•     Superficial vein lengths of 6,200m within the concession

Table 1: Exploration Target Summary

 Vein            Tesoro Project - Exploration Target
                 Tonnage Ranges (t)  Ore Grade Ranges (Au g/t)  Contained Gold  (Au oz)
 Bonanza Vein    12,750 - 51,000     0.15 - 0.72                61 - 1,181
 Tesoro Vein     40,800 - 163,200    4.89 - 31.6                6,415 - 165,824
 Tesoro_1 Vein   18,488 - 73,950     0.33 - 11.85               196 - 28,177
 Morrocota Vein  7,013 - 28,050      0.06 - 0.28                14 - 253
 Total                                                          6,686 - 195,434

The ranges presented in the table were derived from the following sources of
information and technical assumptions: recognised strike length mapped and
documented through surface cartography (IGH Ingeniería, 2025); thickness
ranges (m) identified within the Bonanza Vein from underground sampling
completed in 2026; recorded vertical extent ranges (m) interpreted from
underground sampling data (2026); chemical assay results (historical sampling
surface campaign and IGH Ingeniería surface sampling programme, 2025);
average density values determined through SGS laboratory (2,026) testing using
the Displacement Method, which reflects bulk density inclusive of interstitial
voids and inherent pore spaces within the in-situ material; and quartile
values derived from surface sampling datasets.

Figure 1: Tesoro Concession with Vein Locations (exclusively located within
Nativo's Tesoro concession)

The Exploration Target has been defined based on data collected by Nativo, as
well as calibration and integration with the historic database collected by St
Elias and used in its NI43-101 report of 2010 and the following reasonable
assumptions:

1.    6,200 m of outcropping vein mapped across the Tesoro concessions
(Bonanza at 1,000 m, Tesoro at 3,200 m, Tesoro_1 at 1,450 m, and Morrocota at
550 m).

2.    Downward projection of veins 100 m below surface. Veins in the region
are observed to extend to around 300m (e.g. the analogous Santa Catalina mine
exceeds 500 m, while geophysical data over the area suggests 300 m).

3.    Detailed underground mapping of the Bonanza vein shows that veins at
Tesoro range between 0.1 m and 0.4 m. The Exploration Target considers vein
ranges of 0.05m to 0.2m.

4.    A density of 2.55 g/cm³ was assumed for quartz vein material.

5.    Sample populations were used to determine grade ranges for each vein
- where the 25(th) and 75(th) percentile is used for the lower and upper grade
ranges.

JORC defines an Exploration Target as "a statement or estimate of the
exploration potential of a mineral deposit in a defined geological setting
where the statement or estimate, quoted as a range of tonnes and a range of
grade (or quality), relates to mineralisation for which there has been
insufficient exploration to estimate a Mineral Resource."

The Exploration Target reported today is based on limited data, is conceptual
in nature, and must not be relied upon as an indication of economic viability.
It is uncertain if further exploration will result in the estimation of a
Mineral Resource.

Stephen Birrell, Chief Executive Officer of Nativo, commented:

"The definition of this Exploration Target represents an important step in
advancing our understanding of the high-grade vein systems across Tesoro. The
results highlight the significant upside potential across multiple veins,
where strong grades support our belief in the project's capacity to deliver
meaningful gold production. The Exploration Target provides a clear framework
for the next phase of systematic appraisal aimed at defining a JORC-compliant
Mineral Resource Estimate and unlocking value for shareholders through gold
mining and processing in Peru."

For further information please contact:

 

  Nativo Resources                             Via Vigo Consulting

  Stephen Birrell, Chief Executive Officer     nativo@vigoconsulting.com (mailto:nativo@vigoconsulting.com)
  Zeus (Nominated Adviser and Joint Broker)    Tel: +44 (0)20 3829 5000

  James Joyce

  James Bavister
 Axis Capital Markets (Joint Broker)          Tel: +44 (0)20 3026 0320

 Richard Hutchison

 Lewis Jones
  Vigo Consulting (Investor Relations)         Tel: +44 (0)20 7390 0234

  Ben Simons                                   nativo@vigoconsulting.com (mailto:nativo@vigoconsulting.com)

  Seb Weller

 Anna Sutton

 

About Nativo Resources plc

Nativo has interests in gold projects in Peru. The Company's strategy is based
on three core activities: primary gold mining, gold ore processing, and the
recovery of gold from tailings. The Company has already acquired or optioned
several projects for development and has identified additional opportunities
for expansion. Nativo's nearest-term objective is to scale operations on the
Tesoro Gold Concession, focusing on the Bonanza and Morrocota mines. Nativo
may allocate portions of free cash flow from mining and processing activities
and future fundraises to Bitcoin purchases and may consider holding Bitcoin as
a long-term treasury reserve asset.

 

Qualified Persons Statement

The information in this report that relates to Exploration Results and
Exploration Targets is based on, and fairly represents, information compiled
by Mr Villena Carhuaricra, has a master's degree in Geological Processes and
Resources from The Complutense University of Madrid and is registered and
certified by AusIMM Chartered Professionals.

Mr Villena Carhuaricra has sufficient experience relevant to the style of
mineralisation and type of deposit under consideration and to the activity
being undertaken to qualify as a Competent Person as defined in the
Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves (JORC Code, 2012 Edition). Mr Villena Carhuaricra consents to the
inclusion in this report of the matters based on their information in the form
and context in which it appears.

 

Follow us on social media:

LinkedIn: https://uk.linkedin.com/company/nativoresources-plc
(https://uk.linkedin.com/company/nativoresources-plc)

X: https://x.com/nativoresources (https://x.com/nativoresources)

 

Glossary

 Au                Gold
 g/t               Grams per tonne
 oz                Ounces
 t                 Metric tonnes
 Mineral Resource  A 'Mineral Resource' is a concentration or occurrence of solid material of
                   economic interest in

                   or on the Earth's crust in such form, grade (or quality), and quantity that
                   there are reasonable

                   prospects for eventual economic extraction. The location, quantity, grade (or
                   quality), continuity and other geological characteristics of a Mineral
                   Resource are known, estimated or interpreted from specific geological evidence
                   and knowledge, including sampling. Mineral Resources are sub-divided, in order
                   of increasing geological confidence, into Inferred, Indicated and Measured
                   categories.
 Ore Reserve       An 'Ore Reserve' is the economically mineable part of a Measured and/or
                   Indicated Mineral

                   Resource. It includes diluting materials and allowances for losses, which may
                   occur when the

                   material is mined or extracted and is defined by studies at Pre-Feasibility or
                   Feasibility level as

                   appropriate that include application of Modifying Factors. Such studies
                   demonstrate that, at the time of reporting, extraction could reasonably be
                   justified.

                   The reference point at which Reserves are defined, usually the point where the
                   ore is delivered

                   to the processing plant, must be stated. It is important that, in all
                   situations where the reference point is different, such as for a saleable
                   product, a clarifying statement is included to ensure that the reader is fully
                   informed as to what is being reported.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDMZGMKRGDGVZM



            Copyright 2019 Regulatory News Service, all rights reserved