Technology Minerals PLC Placement of licence boundary beacons in Cameroon

TIDMTM1

Technology Minerals PLC

02 May 2023

2 May 2023

Technology Minerals Plc

("Technology Minerals" or the "Company")

Field placement of licence boundary beacons and

community consultations in Cameroon completed

Field placement of beacons marking out the Company's five licences has been completed as well as local community engagements with villagers and businesses falling within the five licence areas

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce that the field placement of beacons marking out the corners of the Company's five licences has been completed in accordance with Cameroonian Law by a local company, Explorers 33 Consulting Group.

In addition, whilst carrying out the field placement of the beacons, consultations with all local villages falling within the five licences areas were carried out as required by the terms of the exploration licence agreements.

Above: Noticeboard marking out the entrance to one of the Company's five licences (in this case the Malene licence covering an area of 489 km (2) )

A report summarising all the above will be submitted to the Ministry of Mines, Industry and Technological Development this week.

Alex Stanbury, Chief Executive Officer of Technology Minerals, said: "We are delighted that our five licences are now formally marked out in the field in accordance with Cameroonian Mining Law. We can now look forward to beginning exploration work on the ground which will seek to target potential areas of high-grade cobalt-nickel laterite. Global demand for critical minerals such as cobalt and nickel are expected to increase in the coming years as they are key components in the manufacture of the technologies that will enable a lower carbon future. I would like to take the opportunity to thank the team at Explorers 33 Consulting for their great work in placing the beacons and look forward to working with them in the future."

Background:

The Company's land package consists of five exploration permits covering an area of 2,456 km(2) and are situated in the East Region of southeastern Cameroon. They are believed to be prospective for cobalt-nickel laterites.

Nickel laterites are known to occur in areas of intense tropical weathering of ultramafic rocks in equatorial regions. Nickel is typically dominant, but often appreciable quantities of cobalt and manganese are also present. Such is the case of Nkamouna in southeastern Cameroon, where a Measured and Indicated resource of 120.6 Mt @ 0.65% Ni, 0.23% Co and 1.35% Mn has been identified. The permits in the TMC Project are considered prospective for this style of mineralisation as they occur in the same geological belt as Nkamouna, 35 km to the south.

Enquiries

 
 Technology Minerals Plc 
 Robin Brundle, Executive Chairman       c/o [phone] 
  Alexander Stanbury, Chief Executive 
  Officer 
                                        ------------------------- 
 
 Oberon Investments Limited 
                                        ------------------------- 
 Nick Lovering, Adam Pollock             [phone] 
                                        ------------------------- 
 
 Gracechurch Group 
                                        ------------------------- 
 Harry Chathli, Alexis Gore, Rebecca 
  Scott                                  [phone] 
                                        ------------------------- 
 

Technology Minerals Plc

Technology Minerals is developing the UK's first listed company, providing a sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on extracting raw materials required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. As with the increasing global demand for battery metals to supply electrification increases, the group will explore, mine, and recycle metals from spent batteries. Further information on Technology Minerals is available at www.technologyminerals.co.uk

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May 02, 2023 02:00 ET (06:00 GMT)