REG - Red Rock Resources - Lithium Update

Red Rock ResourcesAnnouncement

06/05/2022 13:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220506:nRSF6565Ka&default-theme=true

RNS Number : 6565K  Red Rock Resources plc  06 May 2022

Red Rock Resources PLC

("Red Rock" or the "Company")

Lithium Update

 

6 May 2022

Red Rock Resources Plc, ("Red Rock" or "the Company"), a natural resource
development company with interests in gold and base metals, principally in
Africa and Australia, announces an update to the announcement of 30 March
2022, in relation to its interests in lithium in Zimbabwe, held through Red
Rock's 75% owned subsidiary African Lithium Resources Pvt Ltd ("the Project"
and "ALR").

Highlights:

Ø A group of high net worth investors has acquired from the Company a 10%
early stage interest in the Project for a consideration of US $100,000.

Ø The consideration funds will be applied to the development of the business
of ALR.

Ø Recent additions to the ground position include an application for 46 ha
near Arcturus and the agreed acquisition of a net 25 ha of claims East of
Bikita.

Ø Work continues on additional applications within and outside the registered
area of interest.

Red Rock Chairman Andrew Bell comments: "Zimbabwe, the biggest lithium
producer in Africa, continues to be a focus of investor interest, with several
lithium-related announcements in the last month. In one, a joint venture
expected to lead to a listing of Zimbabwe lithium assets on the Canadian
exchange was announced by one AIM-listed company. In another, the start of
lithium exploration at its Zimbabwe prospect was announced by another
AIM-listed company. And in Australia Prospect Resources Ltd announced the
completion of its sale of the Arcadia lithium project to Zhejiang Huayou
Cobalt.

We welcome the new investors in our lithium assets, and welcome their energy
and commitment in driving this Project forward."

 

For further information, please contact:

Andrew Bell 0207 747
9990
Chairman Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396           NOMAD
Beaumont Cornish Limited

Jason Robertson 0207 374
2212
  Broker First Equity
Limited
 

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  UPDSSSFEMEESEDI