Operational Update

Alba Mineral Resources plc (AIM: ALBA), the gold and critical raw materials focused exploration and development company, is pleased to confirm the current state of progress at its core projects, the Clogau-St David's Gold Mine and Motzfeldt Critical Metals Project.

Clogau-St David's Gold Mine, Wales ("Clogau" or the "Mine") (Alba 100%)

As previously reported (see Alba RNS dated 12 February 2026), roof support measures have been implemented at the new development on Level 5 of the Clogau mine. Following the completion of that exercise, mucking out of the previous blast (blast 6) resumed in the week commencing 2 March, with a total of 54 bulk bags of ore recovered to surface. The cleared face was then drilled in the latter part of the week and a further blast (blast 7) successfully completed on Friday 6 March, advancing 1.7m. The total length of the new development on Level 5 now stands at 9.8m.

Figure 1: (Left) Completed blast holes for Blast 7; (Right) Ore pile post Blast 7.

Motzfeldt Critical Metals Project (Alba 25.5%, moving to 51%)

As announced on 16 February 2026, the first stage of the commissioned mineralogical and scoping test work on the Rare Earth ("REE"), Niobium ("Nb"), Tantalum ("Ta") and Zirconium (Zr) mineralisation at the Aries Deposit, part of the Motzfeldt Critical Metals Project in south Greenland, was successfully completed. This analysis has verified that all the minerals which host the critical metals at Aries have established extractive industries globally, highlighting a key advantage of the Motzfeldt project.

The next phase of test work has now begun and will assess the efficacy of separation techniques (gravitational and magnetic) on splitting the target minerals from gangue (or waste material) phases.

Alba's Chairman George Frangeskides and Principal Geologist Dr Curtis Rooks attended the PDAC Convention in Toronto, the world's largest annual mining conference. During the course of the Convention, they held a number of constructive meetings in relation to Motzfeldt. These included discussions with the Mayor and Principal Director of Kujalleq Municipality, where the project is located, and positive meetings with representatives of the Government of Greenland. The Company intends to establish a regular dialogue with local authorities and communities as it seeks to develop the Motzfeldt Project in partnership with all key stakeholders.

Alba's representatives also met with several technical contractors involved in the planned 2026 work programme, including hyperspectral survey providers, ecological consultants and contractors supporting the project's Mineral Resource review and proposed preliminary scoping study workstreams.

Alba's application to move to a majority 51% ownership of Motzfeldt has been through the statutory consultation process with the Government of Greenland and a formal decision is expected soon.

Figure 2: (Left) Alba's Principal Geologist Dr Curtis Rooks, left, and Chairman George Frangeskides, right, with the UK's High Commissioner to Canada, Mr Rob Tinline, at the UK Government's PDAC Reception at which the UK presented its new critical minerals strategy, Vision 2035; (Right) Alba's Principal Geologist Dr Curtis Rooks with the Mayor of Kujalleq Municipality, Malene Vahl Rasmussen

Company Comment

George Frangeskides, Alba's Executive Chairman, commented:

"I am pleased to report on the constructive meetings and dialogues held by us at the PDAC Convention in Toronto. We held very positive meetings throughout the Convention with Government stakeholders and key contractors as we seek to push the Motzfeldt Project forward this year. And it was great to see our investee company, GreenRoc, front and centre of the EU's programme at PDAC, including being formally presented with a certificate recognising Amitsoq's status as an EU Strategic Project.

"At Clogau, another successful blast was completed just last Friday, advancing another 1.7m. We are now halfway through our objective of completing 20m of new development down on Level 5 of Clogau, our priority gold target within the mine. Our team will be assessing the results of the latest blast from Monday onwards and continuing with plans to improve the throughput of ore through the Company's onsite processing plant.

"With our core work programmes at Clogau and Motzfeldt progressing well, our investee company GreenRoc currently in the process of constructing its pilot anode plant in Denmark, and a successful capital raise completed by us in the past week, Alba is in a strong position to push forward in the coming months."

About Reach announcements