REG - Unicorn Mineral Res. - Expansion of Company’s Exploration Strategy

Unicorn Mineral Resources Public CoAnnouncement

02/04/2024 07:00

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RNS Number : 3884I  Unicorn Mineral Resources plc  02 April 2024

Unicorn Mineral Resources

("Unicorn" or "the company")

2 April 2024

 

Expansion of Company's Exploration Strategy

 

Unicorn Mineral Resources Plc (LSE: UMR), a mineral exploration and
development company based in Ireland and exploring for zinc, lead, copper and
silver, is pleased to announce that the Board of Directors has unanimously
supported a proposal by Executive Director, Jason Brewer, to expand the
Company's focus to include advanced and near-term production zinc, lead,
copper and silver projects located in East and Southern Africa.

At the time of Mr Brewer's appointment in December 2023, it was noted that he
brought a wealth of experience and contacts across the mining industry in
general and in Africa in particular, thus providing the Company with access to
new opportunities to expand and enhance the Company's portfolio of mineral
rights and licences.

In addition to the Company's continuing exploration plans and activities at
its wholly owned Kilmallock and Lisheen Projects in the Irish Midlands
Orefield, the Company's executive management team has been conducting initial
technical and legal due diligence review work on a select number of what it
considers to be high-value base metal exploration and development projects
located in East and Southern Africa.

The Board believes that targeted investments in these, or similar, mine
development and production opportunities, which are considered to demonstrate
an ability to be advanced through to production in a relatively short time
frame, could be capable of significant enhancements to shareholder value.

Patrick Doherty, Chairman Unicorn Mineral Resources, said:

"I am excited about what this expanded focus on new project opportunities in
Africa will bring to Unicorn and its shareholders.

The style of base metal mineralisation that we have been exploring for in our
various Irish Projects, has strong analogies to that found in many high-grade
copper, lead and zinc projects located in East and Southern Africa. And with
that in mind, I believe we have the necessary experience to both properly
review and assess such projects and with the experience of our African-based
Executive Director, Jason Brewer, be able to successfully advance them towards
production and bring value into the Company and to our shareholders.

I look forward to providing further updates, as we progress our due diligence
reviews and potential project acquisition and investments."

 

The Directors of Unicorn are responsible for the contents of this
announcement.

 

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

 

For further information, please visit www.UnicornMineralResources.com
(http://www.UnicornMineralResources.com)  or contact:

 

 Unicorn Mineral Resources Plc                     Novum Securities Limited - Financial Adviser and Broker

 John O'Connor, CFO                                David Coffman / George Duxberry

 Tel: +353 86 259 5123                             Colin Rowbury

 Email: John.OConnor@UnicornMineralResources.com   Tel: +44 (0)207 399 9400

 Gathoni Muchai Investments
 Faith Kinyanjui Mumbi

 info@gathonimuchaiinvestments.com

 

 

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