REG - Nativo Resources Plc - Operations Updates: Bonanza Mine

Nativo ResourcesAnnouncement

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RNS Number : 0955L  Nativo Resources Plc  11 December 2025

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 December 2025

 

Nativo Resources Plc

("Nativo" or the "Company")

 

Operations Updates: Bonanza Mine

 

Nativo Resources plc (LON:NTVO), a gold-focused mining company with interests
in Peru, is pleased to provide an update on ongoing field activities at the
Bonanza Gold Mine on the fully owned Tesoro Gold Concession.

 

Construction and Rehabilitation of Mine Access

 

Following the initial workstreams reported on 18 November 2025, temporary
access to the Bonanza underground workings is now available. This has enabled
the engineering team to re-enter the existing shaft and galleries to assess
stability and collect detailed underground samples to confirm the geological
model. Full rehabilitation of the mine access is expected to be completed by
the selected mining contractor once mobilised.

 

Mining Contractor Appointment

 

The tendering process initiated in October 2025 has progressed well, with
several qualified contractors having completed site visits to assess
logistics, conditions and equipment requirements.

 

A contractor is expected to be formally appointed next week, with mobilisation
to site expected in January 2026. This represents a modest scheduling delay,
driven primarily by the Christmas period and the exceptionally high activity
levels across Peru's mining sector due to record gold prices, which has made
securing specialised labour more challenging than anticipated.

 

Explosives Permitting

 

Recent modifications to the Peruvian government's REINFO process have required
a re-application for explosives permits. The Company has completed all
necessary submissions, and approvals are forecast to be in place in time for
the contractor's arrival.

 

Camp Refurbishment and Operational Readiness

 

Work to upgrade the central operations camp - supporting both Bonanza and
Morrocota - has been delayed due to issues with contractors and is now
advancing in parallel. As reported on 18 November 2025, capacity is being
expanded from 20 to 40 personnel. Refurbishment is now expected to progress
according to the revised schedule and is expected to be completed in time for
the mining contractor's mobilisation. Key works include:

 

·      Finalisation of upgraded accommodation facilities

·      Restoration of water distribution and sanitation systems

·      Commissioning of the new onsite generator and electrical load
centre

·      Installation of Starlink communications

·      Preparation of storage, workshop, fuel and reagent areas

·      Implementation of HSE zones and controlled-access protocols

 

These upgrades will provide full operational continuity throughout the mining
restart.

 

Bonanza & Tesoro Geological Studies

 

Underground and Surface Sampling

 

As noted in the 18 November 2025 update, surface trenching, mapping and sample
preparation along the Bonanza Vein have been completed with 100 samples
already collected and dispatched to the Certimin laboratory in Lima. A further
40+ underground samples will be taken over December and into January.
Processing capacity constraints at the laboratory have extended turnaround
times beyond original expectations.

 

Laboratory backlogs have created delays in the broader geological study
programme at Bonanza, Morrocota and the concession-wide evaluation across
Tesoro. The final geological report is now forecast to be ready by February
2026.  The new reporting date is not expected to delay returning to mining,
as the mine contractor will begin mining at the existing faces and developed
blocks while the final geological model is completed.

 

Exploration Upside Potential

 

Preliminary findings from both the new sampling effort and the concession-wide
study (as outlined in the November 2025 announcement) continue to indicate
additional zones with strong potential for initiating mining. These include
multiple veins in the "Zona Central" and "Zona Este" areas, where mapping and
historical data integration have confirmed targets that may support future
small-scale operations.

 

Stephen Birrell, Chief Executive Officer of Nativo, commented:

 

"Preparations to re-open the Bonanza Mine continue to advance, despite
industry-wide labour tightness and minor delays in laboratory workflows. With
contractor mobilisation scheduled for early January and the camp nearing
completion, Nativo remains well positioned to resume small-scale mining at
Bonanza in early 2026, while simultaneously maturing additional targets that
may provide further production capacity in the medium term.

 

The Company looks forward to providing further updates upon confirmation of
the mining contractor appointment, receipt of laboratory results and
completion of the geological studies."

 

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

  AlbR Capital Limited (Joint Broker)          Tel: +44 (0)20 7469 0930

  Duncan Vasey

  Lucy Williams

 Rose Greensmith

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

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

  Peter Jacob

 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
intends to allocate portions of free cash flow from mining and processing
activities and future fundraises to Bitcoin purchases, and to hold Bitcoin as
a long-term treasury reserve asset.

 

Follow us on social media:

 

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

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

 

 

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