Blackstone Investment - Mankayan Project Update

Bezant (AIM: BZT), the copper-gold exploration and development company, notes that ASX listed Blackstone Minerals Ltd ("Blackstone") has on 10 October 2025 announced, inter alia, that it has achieved several significant milestones as Blackstone advances its exploration and development strategy at the world class Mankayan Copper- Gold porphyry project in northern Luzon, Philippines.

As per the Company's announcement on 2 October 2025 Bezant's shareholding of Blackstone shares is now 80,574,880 Blackstone shares.

Start of key highlights announced by Blackstone (the "Company")

• Two year work programme approved: Blackstone has secured regulatory support from the Philippine government. The Mines and Geosciences Bureau (MGB) has approved a two-year extension of the Mankayan Project's work program, under the existing Mineral Production Sharing Agreement (MPSA). This extension allows Blackstone to continue critical exploration and study activities to maximise the potential of this globally significant asset.
• Drill rug drill rig mobilised to site: The Company's drill rig has arrived on site and is currently being commissioned.
• Land and community access secured: Land access for the initial drill holes has been secured and pad and access road construction has commenced with community engagement underway. In parallel to the land access agreement a Community Access agreement with Maggangan village in the Barangay of Guinaoang has been signed. The Company has committed to numerous community projects that will be delivered over a 2 year period.
• NCIP certificate of precondition granted: The National Commission on Indigenous Peoples (NCIP) has issued its Certificate of Precondition attesting that Free, Prior and Informed Consent (FPIC) has been obtained from the Mankayan Indigenous Peoples. This certificate formally ratifies the memorandum of agreement (MoA) signed in December 2024, completing Blackstone social licence to operate. It is a historic first - Blackstone (in conjunction with Crescent Mining & Development Corp (CMDC) is the first mining company to obtain indigenous consent in the Mankayan region, underscoring the significance of the achievement for both the company and the local community.
• Registered office to be established in Mankatyan: The Company has initiated the process of relocating CMDC's registered office to Mankayan, in line with its commitment under the MoA. This move underscores the Company's dedication to ensuring that the Mankayan community directly benefits from their natural resources. The initiative has been possibly received by the Mankayan Municipal Government.

End of key highlights announced by Blackstone

Below is a link to the Blackstone announcement;

10 October 2025 titled "Mankayan Copper Gol Project - Work Program Approved" is at