Investee Update
Summary by AI BETAClose X
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY EVRIMA PLC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED (“MAR”). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE (“RIS”), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Evrima Plc [AQSE: EVA]
(“Evrima” or the “Company”)
Eastport Intersects 47.5m at 0.64% TREO from 20m, including 7.5m at 2.52% TREO, within 330m at 0.21% TREO at Semarule
Evrima, the investment issuer focused on structuring investment transactions in the mining and junior exploration and development industries, notes the announcement released today by Eastport Critical Metals Corp. (TSXV: EVI) (OTCQB: EVIIF) (“Eastport”), the Company’s principal investment, reporting assay results from the first diamond drill hole at its Semarule rare earth elements project in south-central Botswana, approximately 40km north-west of the capital city, Gaborone.
Eastport is Evrima’s principal investment. The Company holds 1,184,310 ordinary shares in Eastport, representing approximately 3.83% of issued share capital, together with 440,095 warrants exercisable at C$0.68 and 63,275 warrants exercisable at C$1.02, consistent with the Company’s announcement of 20 November 2025. The shareholding is freely tradeable on the TSX Venture Exchange. Evrima has made no disposals and has exercised no warrants.
Highlights
• Drill hole SEM005 intersected 330m at 0.21% TREO from 20.0m downhole, including 47.5m at 0.64% TREO from 20.0m, 7.5m at 2.52% TREO from 22.5m and 2.5m at 5.95% TREO from 27.5m
• Magnetic rare earth oxides (“MREO”) – dysprosium, terbium, neodymium and praseodymium – account for an average 28% of total rare earth oxides (“TREO”), the fraction relevant to permanent magnet supply chains
• Mineralisation begins at 20m from surface and is continuous to the end of the reported interval, with a further mineralised zone returning individual samples of up to 0.75% TREO between approximately 205m and 250m downhole
• SEM005 tested the western side of the Semarule syenite, a target exposed over approximately 5km x 3km (~15km²), indicating the potential for material scale
• First results from an eight-hole Phase 1 diamond drilling programme; assays from the remaining seven holes, which target the gravity anomaly more directly, are pending
Drill hole SEM005 – significant intersections
|
Interval |
From (m) |
Width (m) |
TREO (%) |
LREO (%) |
HREO (%) |
|
Broad zone |
20.0 |
330.0 |
0.211 |
0.189 |
0.022 |
|
including |
20.0 |
47.5 |
0.637 |
0.573 |
0.065 |
|
including |
22.5 |
7.5 |
2.516 |
– |
– |
|
including |
27.5 |
2.5 |
5.950 |
– |
– |
TREO = total rare earth oxides; LREO = light rare earth oxides; HREO = heavy rare earth oxides. Rare earth oxides are calculated using element-to-stoichiometric oxide conversion factors published by James Cook University. Full assay tables are set out in Eastport’s announcement of today’s date.
Within the broad 330m zone, the 47.5m interval at 0.637% TREO from 20.0m comprises 0.573% LREO, 0.065% HREO and 0.183% MREO. Eastport has also reported a 10m interval averaging 0.46% TREO from 37.5m, illustrated in core photography accompanying its announcement, together with intervals of 7.5m at 0.428% TREO and 132.5m at 0.191% TREO deeper in the hole.
Geology and targeting
The Semarule project hosts several sizeable mineralised syenite intrusions, including the Semarule Syenite Hill, which is exposed over a 5km x 3km area and consists of syenite cut by carbonatite dykes. Archaean Gaborone granite underlies the Semarule area and hosts the syenite intrusions, suggesting that the Semarule syenite resulted from in situ metasomatism of the host granite, followed by intrusions of syenite. The syenites host the rare earth mineralisation, and results to date confirm that the more mafic syenite intrusions report elevated rare earth concentrations.
The eight-hole diamond drilling programme was designed to test both the syenite geology and a coincident ground gravity anomaly. SEM005 was collared to the western extent of the target and away from the gravity high, and was drilled at a dip of -50° to a downhole depth of 349.9m. Eastport has indicated that SEM005 appears to have cut through the edge of the gravity feature, and that the remaining holes target various aspects of the gravity anomalies.
Commentary
Daniel Major, Chief Executive Officer of Eastport, commented in Eastport’s announcement:
“These first drill hole assay results for Semarule show the strong grade continuity potential reveal; structure, continuity, grade and critically the opportunity for material scale over a target area of ~15km². This is a highly encouraging start to our Phase 1 Drill Campaign results. SEM005 highlights broad intersections of rare earth elements exceeding 320m, including a higher-grade 48m interval at 0.64% TREO from 20m depth and comprising 28% MREOs. We look forward to receiving the results from the remaining diamond drill holes, which target various aspects of the gravity anomalies.”
Simon Grant-Rennick, Executive Chairman of Evrima, commented:
“The results announced by Eastport today represent an encouraging start to the Phase 1 programme at Semarule. SEM005 has returned 330 metres of continuous rare earth mineralisation from 20 metres depth, including a higher-grade interval of 47.5 metres at 0.64% TREO, with magnetic rare earth oxides averaging 28% of total rare earth oxides. Grade at surface, continuity at depth and the scale of the target area are the principal considerations at this stage of exploration, and these results are supportive on each measure.”
“Eastport has made considerable progress since its admission to the TSX Venture Exchange in November 2025, and Semarule represents one of five critical metals projects within its portfolio. Evrima retains a freely tradeable interest of approximately 3.83% in Eastport, together with warrants over a further position, and the Board looks forward to the results of the remaining seven holes in due course.”
Sampling, assaying and Qualified Person
Drilling used NQ core (47.6mm diameter). Core was logged, XRF scanned, quarter cut and sampled in Lobatse, Botswana, with standard 2.5m samples taken over the full length of the hole and dispatched under Botswana government export permit to SGS South Africa Pty Ltd in Randfontein, an ISO 17025 accredited laboratory. Assays were completed using the ICP/IMS combination package (method codes ICP90A/IMS90A). Full sampling and QA/QC procedures are set out in Eastport’s announcement.
The technical information in Eastport’s announcement has been reviewed and approved by Nicholas O’Reilly MIMMM (QMR) MAusIMM MSc DIC, an independent consultant and a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Evrima has not independently verified the technical information reported by Eastport.
About Eastport
Eastport advances critical metals exploration and development in Botswana, targeting copper, nickel, uranium and rare earth elements including neodymium, praseodymium, dysprosium, terbium and yttrium. The company holds five critical-metals projects with cumulative historical and current expenditures approaching US$20 million, offering a balanced mix of near-term advancement and long-term discovery potential. Its most advanced asset is the Matsitama copper project, which hosts multiple sizeable targets across the Matsitama copper district. The wider portfolio comprises the Semarule rare earth elements project within the Gaborone-Molepolole corridor; Selebi East, a nickel-copper-cobalt project seven kilometres east of the historic Selebi mines; the Foley uranium project, adjoining the Letlhakane uranium deposit; and the Keng project, targeting nickel, copper and PGEs on the northern margin of the Molopo Farms Complex.
Botswana is widely regarded as one of Africa’s strongest mining jurisdictions, combining the continent’s highest GDP per capita with a fifty-year track record of large-scale mineral development since the Orapa diamond discovery in 1967. The country ranks among the top performers globally on the Fraser Institute’s Investment Attractiveness Index and is the highest-rated jurisdiction in Africa on its Policy Perception Index.
Eastport completed its qualifying transaction with Penbar Capital Ltd and was admitted to trading on the TSX Venture Exchange on 20 November 2025 under the ticker “EVI”.
Eastport separately announced that Herrick Lau has resigned as a director of Eastport with effect from 9 September 2026.
Evrima will update shareholders as appropriate.
The Directors of Evrima accept responsibility for this announcement.
Burns Singh Tennent-Bhohi serves as Chief Executive Officer and Director of both Evrima and Eastport, and David Eaton, a Director of Evrima, sits on the board of Eastport.
-Ends-
Enquiries:
Company
Burns Singh Tennent-Bhohi (CEO & Director) burns@evrimaplc.com
Simon Grant-Rennick (Executive Chairman & Director) simon@evrimaplc.com
Bowsprit Partners Limited (Corporate Adviser)
John Treacy / Luis Brime +44 (0) 203 833 4430
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