REG - Switch Metals PLC - Spodumene Lithium Discovery at Issia

Switch MetalsAnnouncement

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RNS Number : 2700R  Switch Metals PLC  02 February 2026

Prior to publication, the information contained within this announcement was
deemed by the Company to constitute inside information as stipulated under the
UK Market Abuse Regulation. With the publication of this announcement, this
information is now considered to be in the public domain.

2 February 2026

 

Switch Metals plc

("Switch Metals" or the "Company")

Spodumene Lithium Discovery at Issia

Switch Metals (AIM: SWT), the critical metals company focused on battery
minerals and technology metals in Côte d'Ivoire, is pleased to announce the
discovery of a first spodumene bearing pegmatite at its Issia Project. The
discovery, named "Kabore" was made during a pitting and mapping programme near
a tantalum-rich drainage basin.

Highlights

·    Lithium discovery is in addition to the near-term tantalum ("Ta")
mineral resource estimate ("MRE") and our early Ta cash flow development
plans.

·    Grades between 1.00% and 2.58% lithium oxide ("Li(2)O") tested on
spodumene-rich zones using a portable Laser-Induced Breakdown Spectroscopy
analyser (pLIBS) in multiple grab samples.

·    Coltan occurrences showing the presence of tantalite endmember in
grab samples (82% Ta) using portable X-ray Fluorescence device (pXRF) were
also identified within the same discovery trench.

·    Discovery indicates Issia pegmatites' potential for both tantalum and
lithium mineralisation.

·    Issia district-scale project covers multiple hard rock pegmatites to
test for tantalum and lithium.

The Kabore discovery is located within the north-west trending Issia pegmatite
corridor, near previously mapped pegmatite occurrences and tantalum rich HM
anomalies (figures 1 & 2).

Issia is located approximately four hours north of the port of San Pedro
mineral port where lithium spodumene concentrate from neighbouring Mali (more
than 17 hours' drive north) is currently exported.

The discovery has been exposed in a 10 x 20-metre trench where multiple
altered grab samples have been collected and analysed using a LIBS and pXRF
analyser (figures 3, 4 and table 1).

Samples were immediately expedited to Thin Section Lab in Nancy, France, who
confirmed the spodumene visual observations using X-Ray Diffraction (XRD)
analysis for detailed mineral characterisation.

Karl Akueson, CEO of Switch Metals commented:

"As we focus on the delivery of our first tantalum MRE, targeting shallow
free-digging deposits, Issia is already exceeding our expectations with this
lithium discovery.

"Whilst we knew the tantalum rich area could be associated with other critical
elements, as it occurs with certain pegmatites, we did not expect to unveil a
hard rock discovery at this early stage and at no additional cost.

"With the improving lithium price environment, the timing is encouraging. We
will look to accelerate the work at Issia on this new lithium prospect in
parallel to the ongoing tantalum MRE definition and the drainage basin
exploration programme.

"Elsewhere in the portfolio, we are completing soil sample analysis at both
the Bouaké Tantalum project and the Tiassalé Lithium project where our
neighbours Atlantic Lithium plc and Lithium Africa Resources Corp (partnered
with Ganfeng, the world's third largest and China's largest lithium compounds
producer) are also active."

Qualified Person Statement

The technical information contained in this disclosure has been reviewed and
approved by Dr Christophe Bonnetti (PhD, EurGeol), who is a qualified
geologist and meets the criteria of a qualified person under the AIM Note for
Mining and Oil & Gas Companies. Dr Bonnetti is a Senior Consultant
Geologist working for Arethuse Geology Sarl which has been retained by Switch
Metals plc to provide technical support.

Figure 1: Location of Kabore Spodumene discovery

Figure 2: Altered spodumene-rich sample from Kabore discovery trench

 

Figure 3: Tantalum-rich coltan grab sample from Kabore discovery trench
containing 82% Tantalum (using pXRF)

 

Figure 4:  LIBS analysis on altered spodumene pegmatite grab samples

 

Table 1: LIBS Analyser results on spodumene grab samples

 Sample #  LIBS Analyser result

           in Li(2)O

           (2.153x Li reading)
 Sample 1  1.28%
 Sample 2  2.14%
 Sample 3  1.00%
 Sample 4  1.63%
 Sample 5  1.92%
 Sample 6  2.58%

 

For further information, please contact:

 

 Switch Metals plc                                                              Via IFC Advisory

 Karl Akueson, CEO

 Andy Yeo, CFO

 Allenby Capital Limited (Nominated Adviser & Joint Broker)                     +44 (0) 203 328 5656

 Corporate Finance: Nick Harriss / James Reeve

 Sales: Kelly Gardiner / Lauren Wright/ Matt Butlin

 OAK Securities (Lead Broker)                                                   +44 (0) 203 973 3678

 Jerry Keen, Head of Corporate Broking

 jerry.keen@oak-securities.com (mailto:jerry.keen@oak-securities.com)

 Henry Clarke, Head of Sales

 henry.clarke@oak-securities.com (mailto:henry.clarke@oak-securities.com)

 IFC Advisory Limited (Financial PR and IR)                                     +44 (0) 203 934 6632

 Tim Metcalfe / Graham Herring / Zach Cohen

 switchmetals@investor-focus.co.uk (mailto:switchmetals@investor-focus.co.uk)

About Switch Metals

Switch Metals plc, admitted to trading on AIM in April 2025, is a mining
company focused on critical technology and battery minerals in Côte d'Ivoire,
one of the most attractive mining jurisdictions in Africa. The Company is the
largest land holder covering tantalum, lithium and other critical metals
prospects in the country (and potentially in West Africa) today.

Its core assets include Issia (Ta + Nb + Li), Bouaké (Ta + Nb + REE) and
Tiassalé (Li) projects. Issia is the current focus for the Company as it
exhibits potential for early cash flow through ethical tantalum production
from shallow coltan placer deposits with significant scale-up potential (from
both placers and hard rock pegmatites).

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