Trading update

The Board of Xtract Resources Plc ("Xtract" or the "Purchaser") is pleased to announce that it has agreed to purchase dump material, situated in the Zambian Copperbelt, for a consideration of US$300,000 to be funded from Xtract's existing cash resources. Xtract intends to conduct trial work testing and evaluation of the material.

Colin Bird, Executive Chairman of Xtract, commented

"There are numerous dump opportunities arising in Zambia from previous copper mining operations, both big and small. The Company has a number of potential opportunities to potentially process dump materials and this agreement will enable Xtract to determine grade, quantity and treatability prior to any further acquisitions of material depending on technical and commercial fundamentals."

Purchase of material

On 5 January 2025, Xtract agreed to purchase dump material and to conduct trial work testing and evaluation of the material from the Seller's sites in Zambia. Xtract has agreed to pay the seller US$300 000 in cash to for the material valued at US$1.15 per tonne, to be sourced from the seller's sites in Zambia and to be removed from the site by Xtract. The seller remains liable for and shall pay any statutory royalties or any other duties or charges due to the relevant authorities on the sale of any material to the Xtract. Xtract also plans to undertake trial, test work and sampling and evaluation at the site of the material purchased.