W Resources PLC La Parrilla: Completion of the 500,000m3 dam (0203C)

TIDMWRES

RNS Number : 0203C

W Resources PLC

16 June 2021

16 June 2021

W Resources Plc

("W" or the "Company")

La Parrilla: Completion of the 500,000m(3) dam

W Resources Plc (AIM:WRES), the tungsten, tin and gold mining Company with assets in Spain and Portugal, is pleased to announce it has successfully completed the construction of a new water dam at the La Parrilla mine in Spain in order to resolve the issue of the high water levels. Dewatering of the mine pit is now underway and once water levels are reduced the team will be in a position to safely regain access to high-grade ore areas.

The 500,000m(3) dam is receiving water from the mine pit at a rate of 2,500m(3) per hour, which will enable access to the next level of fresh ore in the next few days. Construction of this dam has been hugely successful with staff and contractors working tirelessly to complete this stage of the project.

The final phase of the project to provide a permanent solution to the water issues at La Parrilla, comprising of a second dam, is currently at the design stage and is expected to be completed in Q4 2021.

Michael Masterman, Chairman of W Resources, commented: " After an arduous process we are delighted to have completed construction of the 500,000m(3) dam at La Parrilla enabling us to proceed with the full scale dewatering of the mine pit. This is a major milestone and importantly will lift the constraint to our mining operations enabling us to accelerate the process of regaining access to and recovery of the higher-grade ore."

"I would like to personally thank our Engineering Manager, Elías Perez who along with the whole team at La Parrilla, executed this important project on behalf of the Company in such an enthusiastic and professional manner."

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries:

 
 W Resources Plc                  Grant Thornton UK LLP 
  Paul Hailes, CFO                 Colin Aaronson / Harrison Clarke 
  [e-mail]          / Lukas Girzadas 
  www.wresources.com               T: [phone] 
 Joint Broker                     Joint Broker 
  Turner Pope Investments (TPI)    Alternative Resource Capital / 
  Ltd                              Shard Capital 
  Andy Thacker / James Pope        Alex Wood 
  T: [phone]          T:[phone] 
  www.turnerpope.com               www.altrescap.com 
                                   Damon Heath 
                                   T:[phone] 
                                   www.shardcapital.com 
 Alma PR 
  Justine James 
  T: [phone] 
  M: [phone] 
  [e-mail] 
 

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June 16, 2021 02:00 ET (06:00 GMT)