Update on Proposed Financing and TSX-V Listing

London, United Kingdom - 8 December 2023 - Landore Resources Limited (AIM: LND) ("Landore Resources" or the "Company") provides an update in respect of its proposed non-brokered private placement (the "Offering") and application to dual list the Company's ordinary shares on the TSX Venture Exchange (the "Exchange").

As announced on 9 November 2023, the Company launched the Offering seeking to raise gross proceeds of, in aggregate, up to C$5m to facilitate the dual listing application. Since that announcement, turbulent market conditions worldwide have created significant fund raising challenges, particularly for the junior natural resource sector. Accordingly, the Company has decided to terminate the Offering and defer its fund raising efforts until, inter alia, there is a sustained improvement in market conditions. Consequently, the Board of Directors has postponed the proposed dual listing on the Exchange until further notice.

The Company has already initiated a plan to reduce certain costs and preserve its cash resources as appropriate. The Company will revisit financing opportunities during Q1 2024 and is also exploring alternative funding options to enable it to, inter alia, proceed with a drilling campaign on its flagship BAM Gold Project at the Junior Lake property in Northwestern Ontario at the earliest opportunity. The Company will provide further updates in due course as appropriate.