Teufelskuppe Delivers Compelling New Drill Results

Kendrick Resources Plc is pleased to announce a further important validation milestone at the Teufelskuppe ("TK") Project, where X-ray fluorescence ("pXRF") measurements of Light Rare Earth Oxide ("LREO") grades in drill core have demonstrated an exceptionally strong positive correlation with certified laboratory assays. This compelling result provides confidence in the reliability of pXRF analysis at Teufelskuppe and highlights its value as a fast, effective exploration tool. Certified laboratory assays have now been received for three drill holes (TKDD002-4), each returning highly impressive LREO grades over significant widths and further reinforcing the scale, continuity and high-grade potential of the Teufelskuppe mineralised system.

Highlights

pXRF - Certified Assay Correlation

• The full assay batch of 100 samples, excluding QA/QC samples, returned an impressive Simple or Pearson's Correlation Coefficient (r) of +0.82. r is a statistical number that measures the strength and direction of the connection between two variables and here provides strong statistical evidence of a close and predictable linear relationship between pXRF readings and certified laboratory assays.
• On average, field-derived pXRF values are marginally lower than certified laboratory assays
• The strong positive correlation provides clear support for the use of pXRF as an early, reliable and cost-effective indicator of LREO grade, strengthening Kendrick's ability to make informed exploration decisions, and optimise drill-hole planning.

New Certified Assay Results

• TKDD002 intersected multiple sub-parallel dykes, delivering notably high-grade results of 3.16 wt% LREO over 5.4m and an exceptional 3.14 wt% LREO over 38.2m, demonstrating the strength and scale of mineralisation encountered.
• TKDD003 further underlines the potential of the system, intersecting sub-parallel dykes that returned outstanding grades of 3.83 wt% LREO over 3.75m, 3.4 wt% LREO over an impressive 59.78m, and 3.97 wt% LREO over 4.35m.
• TKDD004 intersected the near-surface exposure of a sill, returning a strong grade of 3.12 wt% LREO over 3.97m. The sill continues to dip below surface, where it reaches an average width of approximately 40m and where pXRF grades are consistently around 3 wt% LREO, highlighting attractive follow-up potential.
• Targeting a Resource of not less than 40 million tonnes at a grade of 3.0 wt% LREO

Colin Bird, Chairman of Kendrick Resources, commented "We have now been able to directly compare pXRF values with certified laboratory analyses, and the correlation is highly satisfactory. The strong positive correlation offers practical benefits allowing us to continue our accelerated drilling programme as we have a high confidence in the pXRF data and we can continue to build our geological model and commence resource estimation replacing pXRF analyses with certified results as new data is received. Our target at Teufelskuppe remains a 40 million tonne resource at a grade of greater than 3.0 wt % LREO and the current programme is expected to continue to deliver impressive results on the ground allowing us to move towards a JORC (2012) Resource underpinned by ongoing petrological studies and metallurgical test work being undertaken in the United States and Europe, respectively. We look forward to providing shareholders with further updates as new data becomes available".

pXRF Sampling procedure

The strong linear relationship between certified assays and pXRF field analyses reflects the quality and consistency of Kendrick's field procedures. The Company uses a high-quality handheld XRF unit, supported by regular calibration using fresh samples collected from the Teufelskuppe site and independently validated by an external certified laboratory. Strict field protocols are applied throughout sampling, with four measurements taken on each 1m length of core at 25cm intervals and, as far as practicable, in the same location on every metre of core. The process is also designed to avoid sampling bias by preventing selective measurement of visually obvious high-grade mineralisation, thereby supporting confidence in the reliability and repeatability of the pXRF dataset.

Correlation Coefficient (r)

Correlation between pXRF and SGS Certified Laboratory assays for LREO

n = 100 (number of samples)

r (Simple or Pearson's correlation coefficient) = 0.82 with n-2 degrees of freedom

Using r to calculate t for the statistical significance level

t = 0.82 x Ö98 (n=2) ÷ 0.344

t = 23.3 with 98 degrees of freedom so the 2-tailed p-value is <0.0001(99.999 significance)

p = <0.0001 indicates the correlation is strongly positive.

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

About Anzaplan

ANZAPLAN is well equipped to develop flowsheet and process design following different processing routes for REE bearing minerals. Evaluation of tailored programs for the physical processing of REE ores to REE mineral concentrates can be performed at various scales. Specific processing unit operations include comminution, sensor-based sorting, electrostatic separation, flotation and dry or wet magnetic separation, precipitation, crystallization, purification (solvent extraction, ion exchange) and filtration processes which are essential parts in the development of hydrometallurgical processes concerned with the production of REE specialty chemical products.

ANZAPLAN's hydrometallurgical facilities can achieve light, medium and heavy rare earth specialty chemicals including the removal of radionuclides (U, Th).

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