Drilling commences on the Ongombo Project

African Pioneer PLC

16 October 2026

 

16 October 2026

African Pioneer Plc
(“African Pioneer” or the “Company”)

Drilling commences on the Ongombo and Ongeama Mine Development Programme

African Pioneer Plc (“AFP”), the exploration and resource development company is pleased to announce that drilling as part of the mine development programme has commenced on the Ongombo Project in Namibia under the terms of the conditional financing and technical services agreement (the “Definitive Agreement”) signed between the Company and Hong Kong Xinhai Mining Services Limited (“Xinhai”) and announced on 30 July 2026.

Highlights

• The progamme has commenced with one drill rig to ensure that the technical personnel required to oversee and manage the estimated volume of core to be generated are properly trained.  In conjunction planning has started for the construction of an onsite facility for core to be received, logged, cut and sampled before it is tested and to provide a secure core facility for the long term. 
• The programme is for 119 holes for approximately 7,000 metres will last for several months with an additional period thereafter for the receipt of final assays.
• The Ongombo project which is 85% owned already has a 29Mt @ 1.1% CuEq JORC (2012) Mineral Resource Estimate defined by external resource consultants for the Ongombo Project (see 16 May 2023 announcement for further details)
• The drill programme has multiple objectives which include;
  • Open pit Resource extensions delineated by external engineering consultants validating the estimated potential of 3 to 4 years of open pit mining
  • explore the potential up-dip extensions of known mineralised bodies at the neighbouring Ongeama project offers scope for additional early years open pit feed
  • provide additional data to inform mine design and long-term planning of underground development together with geotechnical assessment at both Ongombo and Ongeama
  • provide additional grade and mineralised width data for parts of the East – Ost shoots where drill density can be improved and historically (1980’s) gold assays were not completed. The East – Ost shoots are notably thicker in some parts of the two bodies potentially offering more substantial tonnage subject to ongoing infill drilling
  • developing a single Mineral Resource for mining and processing purposes from the two deposits

Colin Bird, Chairman of African Pioneer, commented: “I am pleased to be able to confirm that work is underway that will lead to the development of a new mining operation at Ongombo – Ongeama. Our partners at Xinhai have been working closely with our Namibian-based team and we are providing the in-country technical skills required to manage the drilling programme including logging, sampling and sample custody for certified assays. We will keep shareholders updated with progress as we increase the number of drill rigs on-site to fast-track the programme”.

For further information, please contact:

African Pioneer Plc Colin Bird, Chairman	Tel [phone]
Beaumont Cornish Limited (Financial Adviser) Roland Cornish/Asia Szusciak	Tel [phone]
AlbR Capital Limited (Joint Broker) Jon Belliss	Tel [phone]
Shard Capital Partners LLP (Joint Broker) Damon Heath	Tel [phone]

or visit  https://africanpioneerplc.com/

Qualified Person:

The technical information contained in this announcement has been reviewed, verified, and approved by Colin Bird, CC.ENG, FIMMM, South African and UK Certified Mine Manager and Director of African Pioneer plc, with more than 40 years’ experience mainly in hard rock mining.

Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is Financial Adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it. Distribution: This announcement has been notified via a Regulatory Information Service and it is not authorised for distribution into North America or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of that jurisdiction.

Glossary

A ‘Mineral Resource’ is a concentration or occurrence of solid material of economic interest in or on the Earth’s crust in such form, grade (or quality), and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade (or quality), continuity and other geological characteristics of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling. Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories.

An ‘Indicated Mineral Resource’ is that part of a Mineral Resource for which quantity, grade (or quality), densities, shape and physical characteristics are estimated with sufficient confidence to allow the application of Modifying Factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit.

An ‘Inferred Mineral Resource’ is that part of a Mineral Resource for which quantity and grade (or quality) are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade (or quality) continuity. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.

“Au” Gold

“Cu” Copper

“CuEq*” copper equivalent grade using the copper prices and gold prices indicated in the text 

“g/t” grammes per tonne

"Kt” thousand tonnes

“Mt” million tonnes

 

END