Teufelskuppe – Channel Sample Results

Kendrick Resources Plc is pleased to report strong portable X-ray fluorescence ("pXRF") surface channel sample results from five carbonatite bodies (TKCH001 to TKCH005) at Teufelskuppe ("TK"), confirming extensive and continuous, high-grade light rare earth oxide ("LREO") mineralisation over substantial widths.

The results reinforce TK's potential as a significant rare earth element ("REE") project, with representative channel sampling across all five exposed carbonatite bodies demonstrating continuous and pervasive LREO mineralisation consistent with the Company's drilling results.

Channel and drilling data will now support the Company's initial mineral resource estimate for TK, including the above-ground exposed mineralised carbonatite recently delineated by Digital Elevation Model ("DEM") survey and estimated at approximately 14Mt.

Highlights

• Channel TKCH004 delivered the strongest headline grade, returning 2.94 wt% LREO over 53.5m.
• Other exceptional continuous mineralised widths returned, including 1.42 wt% LREO over 197m at TKCH002, 1.91 wt% LREO over 84.5m at TKCH003 and 1.80 wt% LREO over 64m at TKCH001 and 1.31 wt% over 140m in TKCH005.
• High-grade, continuous LREO mineralisation confirmed across all five carbonatite bodies, with peak internal intercepts including 3.20 wt% over 32.5m, 3.20 wt% over 6.5m, 2.95 wt% over 5.5m, 2.64 wt% over 9.5m and 2.26 wt % over 15m.
• Results highlight the scale, continuity and grade potential of TK ahead of the Company's initial mineral resource estimate.
• Exposure of continuous high-grade LREO mineralisation at surface reinforces the Company's original observation that a low-cost easily accessible resource can be exploited subject to completion of the current assessment.
• A third drill rig, a reverse circulation ("RC") rig has arrived on-site at TK and commenced drilling.

Colin Bird, Chairman of Kendrick Resources commented "The more results we receive the more I become impressed with the continuity and consistency of both grade and mineralisation which in this case are quite remarkable.

Having been involved in a number of mine project designs, erratic grade and distribution of mineralisation can often led to difficulty in designing the ultimate mine and processing complex. Grade and mineralisation continuity at TK are ideally suited to an optimised mine design. We eagerly await the results of our petrological and mineralogical test work which will form the basis of our flow sheet design. We are busily ticking the tonnage box, the grade box speaks for itself, and clarification of a metallurgical flow sheet will position this project in the world's top 3 undeveloped REE projects. I am pleased that we can report that the RC drill rig is on site and this will fast track us to maiden resource and thus progression to a Preliminary Economic Assessment."

Development Plan Progress

Economics and Markets

Rare earths are critical to specific modern technologies where no effective substitutes exist. Sustained demand for super magnets in electronics, renewable energy, and electric vehicles continues to push prices upwards and manufacturing need shows no sign of slowing. The global metals market is valued at approximately $18.2 billion with a Compound Annual Growth Rate (CAGR) of 7.6% (Intnl. Energy Agency, 2026). The present trends are further underpinned by demands for rare earths used in defence systems, medical imaging, telecommunications and advanced visual displays. All these sector demands underpin the commercial potential of the TK project.

Near-Term Development Plan for TK

Glossary:

Cone sheet: A type of ring intrusion with margins which dip inwards.

MRE: Mineral Resource Estimate

Parisite: A group of fluorcarbonates with typical mineral formula Ca(Ce/La/Nd/REE)2(CO3)3F2.

TREE: Total Rare Earth Elements; sum of LREE and HREE to a total of 17 elements.

LREO: Light Rare Earth Oxides including La2O3, CeO2, Nd2O3, Pr6O11, Sc2O3, Sm2O3, Eu2O3.

TREO: Total Rare Earth Oxides.

Wt % = Weight Percentage