REG - Nativo Resources Plc - Operations Update: Bonanza Vein

Nativo ResourcesAnnouncement

16/04/2026 07:00

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RNS Number : 6664A  Nativo Resources Plc  16 April 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.

16 April 2026

Nativo Resources Plc

("Nativo" or the "Company")

Operations Update: Bonanza Vein

Further High-Grade Gold and Silver Results up to 73.4 g/t Au and 8.02 g/t Ag Confirm Bonanza Vein Upside

Nativo Resources plc (LON: NTVO), the Peru-focused gold mining company, is
pleased to announce the results of additional laboratory analyses from
underground selective vein chip samples collected during late March and April
2026 at the Bonanza Gold Mine ("Bonanza"), part of the Company's wholly owned
Tesoro Gold Concession in southern Peru.

These results build upon the high-grade underground sampling results announced
on 16 March 2026 (including bonanza grades up to 40.2 g/t Au) and the
operational update of 23 March 2026, further reinforcing the presence of
high-grade mineralisation within the Bonanza vein system.

Highlights

·      Exceptional high-grade gold assays returned up to 73.4 g/t Au,
including an additional high-grade sample of 11.8 g/t Au

·      Associated silver values of:

o  8.02 g/t Ag

o  3.03 g/t Ag

o  2.01 g/t Ag

·      Further confirmation of bonanza-grade mineralisation within a
structurally controlled vein system

·      Results support the Company's interpretation of high-grade shoots
within the Bonanza vein, consistent with previously reported underground
sampling

Summary of New Assay Results
 Sample ID  Au (g/t)  Ag (g/t)  Depth (BGL)

                                (m)
 900-004    73.40     8.02      5
 900-002    11.80     2.01      7
 900-001    1.44      3.03      7
 900-006    2.40      3.01      27
 900-005    2.32      1.01      22
 900-003    0.62      1.01      6

These results were generated from certified laboratory analysis of mineralised
material collected from the Bonanza mine workings.

Geological Interpretation

The newly reported results continue to demonstrate the variable but locally
very high-grade nature of mineralisation within the Bonanza vein system. The
presence of grades exceeding 70 g/t Au is characteristic of bonanza-style
shoots, typically associated with:

·      Localised dilation zones within shear-hosted quartz veins

·      Structural intersections and zones of enhanced permeability

·      Repeated hydrothermal mineralising events

The distribution of these high-grade samples, when viewed alongside the
updated vein model (see Figure 1), indicates:

·      Strong correlation between high-grade zones and interpreted ore
shoots, with high grades being seen in the S2 shoot between 15 to 25m below
ground surface

·      Continuity of mineralisation from surface into underground
workings

·      Potential for down-plunge extensions of high-grade shoots

Figure 1: Longitudinal section of the Bonanza vein and the geological
interpretation of the identified mineralised shoots.

 

Integration with Mine Development

These results complement:

·      The March underground channel sampling programme, which returned
grades up to 40.2 g/t Au

·      Material accumulated from earlier mine development grading up to
approximately 6 g/t Au (Poruña sampling* estimates)

Together, the datasets confirm:

·      A robust grade distribution with high-grade outliers

·      Suitability for selective narrow-vein mining (resue mining**)

·      Increasing confidence in targeting high-margin zones early in
production

* "Poruña" refers to a traditional field assay tool used for quick, visual
estimation of gold content in a sample - not a formal assay technique or
analytical result. It is a visual/empirical grade estimation tool used in
artisanal mining to quickly identity vein material that is worth mining or
not. These are preliminary estimates and actual lab results may differ
significantly from Poruña sampling.

** Resue mining is a Peruvian term for an underground selective mining
technique commonly used to extract very narrow, high-grade ore veins, such as
gold or polymetallic veins found in parts of Peru. It is especially useful
where the ore body is only a few tens of centimetres to about 1 m thick.

Surface Stockpile and Channel Sampling Context

Additional sampling programmes were conducted across:

·      Underground channels (typically low-grade background: ~0.06-0.34
g/t Au)

·      Surface stockpiles (averaging ~0.6-0.9 g/t Au)

The results of channel sampling highlight the strong grade contrast between
bulk material and high-grade vein shoots, reinforcing the importance of
selective mining. Nativo currently has accumulated over 20 tonnes of vein
material derived from mine development which is stockpiled at surface.

Implications for Mine Planning

The Company believes these results:

·      Strengthen the case for early-stage selective mining of
high-grade shoots

·      Support the current strategy of:

o  Minimising dilution

o  Prioritising high-grade zones near existing workings

·      Enhance the potential for early cash flow generation from limited
tonnage, high-grade production

Next Steps

The Company will:

·      Continue systematic underground sampling and development

·      Expand mapping of high-grade shoots along strike and at depth

·      Integrate all assay data into the evolving 3D geological model

·      Progress towards initial production and sales in Q2 2026

Stephen Birrell, Chief Executive Officer of Nativo Resources plc, commented:

"It's called Bonanza for a reason! These latest assay results continue to
demonstrate the exceptional grade potential of the vein system, with values of
up to 73.4 g/t gold confirming the presence of bonanza-grade mineralisation.
We have also been able to confirm the presence of silver within the veins, a
valuable by-product of the gold-dominant Bonanza deposit.

Importantly, these high-grade results are consistent with our geological model
of structurally controlled ore shoots and align closely with both historical
and recent underground sampling.

As we advance development, our focus remains on selectively targeting these
high-grade zones to maximise early production value while continuing to build
a comprehensive understanding of the system across the Tesoro concession."

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 scientific and technical information contained within this announcement
has been reviewed and approved by Harold Villena Carhuaricra, a geological
engineer with over 15 years' experience. 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 worked for Cerro de Pasco Resources and Compañía
Minera Volcan among other companies in Peru. He is a Qualified Person as
defined by the AIM Guidance Note on Mining and Oil & Gas Companies dated
June 2009.

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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

 Ag   Silver
 BGL  Below Ground Level
 Au   Gold
 cm   Centimetres
 g/t  Grams per tonne
 m    Metres

 

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