REG - Oracle Power PLC - Northern Zone Update

Oracle PowerAnnouncement

Today 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:20260225:nRSY2283Ua&default-theme=true

RNS Number : 2283U  Oracle Power PLC  25 February 2026

25 February 2026

Oracle Power PLC

("Oracle" or the "Company")

 

Gold Mine Development Plan and Drilling Update - Kalgoorlie Gold Project

 

Oracle Power PLC (AIM: ORCP), an international project developer, is pleased
to announce the completion of a further grade control 31 drill holes for 2,013
metres at the Northern Zone Intrusive Hosted Gold Project ("Northern Zone" or
the "Project"), located within the Company's Kalgoorlie Gold Project just 25
km east of Kalgoorlie in Western Australia (refer to Figure 1 for location).
Marking the commencement of the 2026 drilling campaign, the Company has
submitted 1,475 samples for assay with results expected in batches in the
coming weeks.

 

Highlights

·    31 new shallow drill holes (2,013m) have been completed at the
Northern Zone, between the central and eastern mineralisation zones

·    Samples submitted for analysis and results will be reported in
batches in coming weeks

·    Mine Development and Closure Plan (MDCP) and associated environmental
assessments progressing well in collaboration with Resources-WA and the joint
venture's production partner, MEGA Resources (MEGA)

·    MDCP work completed to date or underway includes:

·    Four geotechnical pre-collar drill holes to depths of ~70m for pit
slope stability assessment work

·    These four geotechnical holes will now be diamond-tail drilled to a
total depth of 100m each and structurally logged by Xirlatem in Kalgoorlie,
with compression strength testing to be undertaken in Perth

·    Water bore hole successfully completed and tested

·    Stakeholder engagement schedule completed

·    Flora and Fauna survey in progress

·    Ore/waste samples taken and characterisation analysis underway

·    Topsoil analysis for rehabilitation studies underway

·    Conversion of the tenement to a Mining Lease is well advanced and, as
previously announced, expected in the coming weeks

·    Right to Mine and Co-Operation Agreement with MEGA Resources for the
Project signed September 2025(( 1  (#_ftn1) ))

·    MEGA to provide all development and mining funding for Northern Zone
on a 50/50 profit share.

 

Naheed Memon, CEO of Oracle, commented:

"We continue to make excellent progress towards gold extraction from the
Northern Zone with mining expected to start later this year through our MEGA
Resources transaction, which was announced in September last year. Now that we
can see a clear path for the grant of the Mining Lease in the coming weeks, we
are actively engaged with our consulting teams to have the Mine Development
and Closure Plan ready for lodgment with the relevant WA Government
authorities, ticking another important box.

 

"Our first drill programme for the 2026 campaign has just been completed, and
results will be reported in the coming weeks."

 

As previously announced, all objections to the application for a Mining Lease
(M25/389) covering the Northern Zone have been resolved and the Company is
working to have the Mining Lease expeditiously granted by the Department of
Mines Petroleum and Exploration (DMPE).

 

The Northern Zone MDCP and the associated environmental assessments are
progressing well in conjunction with Resources-WA and the joint venture's
project development partner, MEGA Resources, with a number of activities
completed or underway:

 

·    Four geotechnical pre-collar drill holes to depths of ~70m for pit
slope stability assessment work

·    These four geotechnical holes will now be diamond-tail drilled to a
total depth of 100m each and structurally logged by Xirlatem in Kalgoorlie,
with compression strength testing to be undertaken in Perth

·    Water bore hole successfully completed and tested

·    Stakeholder engagement schedule completed

·    Flora and Fauna survey in progress

·    Ore/waste samples taken and characterisation analysis underway

·    Topsoil analysis for rehabilitation studies underway

 

The latest drill programme focused on a largely untested area between the
central and eastern mineralised zones. A key SW-NE cross-section derived from
3D Leapfrog software and gold grade shells will be updated shortly.

 

 

 END 

 

For further information on Oracle, visit the Company's website at
http://www.oraclepower.co.uk (http://www.oraclepower.co.uk) or contact:

 

Oracle Power PLC

Naheed Memon -
CEO
+44 (0) 20 3580 4314

 

Strand Hanson Limited (Nominated Adviser & Broker)

Rory Murphy, Matthew Chandler, Rob
Patrick
+44 (0) 20 7409 3494

 

St Brides Partners Limited (Financial PR)

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

 

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation No. 596/2014, which forms part of United Kingdom domestic law by
virtue of the European Union

(Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment)
(EU Exit) Regulations 2019.

 

Figure 1: Location of Northern Zone Project showing proximity to the
Kalgoorlie "Super Pit", Golden Mile/Fimiston.

 1  (#_ftnref1) Announcement dated 30 September 2025 - "Mining and
Co-Operation Agreement with Mega Resources."

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  DRLMZGZZVDNGVZM



            Copyright 2019 Regulatory News Service, all rights reserved