Licence Grant and Commencement

Amigo Resources PLC

29 April 2026

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE                                                                                                                  29 April 2026

Amigo Resources PLC

("Amigo" or the "Company")

Operational Update - Licence Grant and Commencement of Activities Kabete Gold Project, Tanzania

Amigo Resources PLC (LSE: AMGO) the London-listed mining development company focused on Africa, is pleased to provide an operational update on the Kabete Gold Project in Tanzania (the "Project"), in which the Group holds a 51% interest, further to its previously announced on 26 March 2026.

Licence Status

The Company confirms that the mineral licences comprising the Kabete Gold Project have now been formally granted and released by the Government of Tanzania, enabling the commencement of on-ground operational and exploration activities.

Commencement of Field Operations

Following receipt of the licences, Amigo has mobilised its technical, operational and mining geological teams to site and has commenced systematic verification and validation of historical exploration data across priority targets, in order to bring them into production.

Historical Geological Work Summary

Past data indicates that previous exploration programmes have established a strong technical foundation for the Project, including:

Geological Mapping & Geochemistry

Extensive geological mapping and a multi-phase soil sampling programme (~3,800+ samples) identified structurally controlled gold anomalism across multiple corridors.

Geophysical Surveys

Airborne magnetics and radiometrics, supported by ground-based Induced Polarisation (IP) and resistivity surveys, defined subsurface structures and continuity of mineralised zones, subsequently validated through trenching and channel sampling.

Drilling Programme

A total of 167 drill holes (~21,400 metres; RC and diamond drilling) confirmed gold mineralisation at depth, including:

•    High-grade intersections: e.g., 16 metres @ 6.4 g/t Au

•    Bulk-tonnage intervals: e.g., 23 metres @ ~2.3 g/t Au

Mineralisation Style

Interpretation indicates a combination of free gold and sulphide-associated gold (pyrite, arsenopyrite, pyrrhotite, with graphite association), occurring as high-grade shoots within kilometre-scale mineralised envelopes which remain open at depth.

Additional Mineral Indicators (Preliminary)

Select historical analyses indicate the presence of PGM signatures and rubidium occurrences within certain zones of the concession. These remain early-stage indications and will be subject to further validation and confirmatory analysis.

Application of Advanced Exploration Techniques

As part of its rapid verification and targeting strategy, the Group is deploying a hybrid exploration approach combining conventional and advanced methodologies, including:

•    Passive seismic and micro-seismic data acquisition;

•    Integrated modelling of geological, geophysical and geochemical datasets; and

•    AI-assisted, data-driven targeting for structural interpretation and drill prioritisation.

These techniques are intended to enhance past data verification, targeting efficiency and accelerating the delineation of mineralised zones.

Processing Plant Initiative

In parallel with exploration, the Group is advancing plans for a scale processing facility aimed at:

•    Processing tailings and historically mined material;

•    Supporting metallurgical test work and process optimisation; and

•    Generating early-stage production data.

The plant will incorporate a proprietary gravity-based concentration module designed to enhance recovery of fine and ultra-fine mineral fractions. This forms part of the Group's patent-pending technology programme under PCT Application No. PCT/IB2026/052808, developed by members of the Group's management team.

Next Steps

The Group's near-term objectives include:

•    Completion of ground validation of historical datasets;

•    Advancement toward a JORC-compliant exploration framework;

•    Expansion of target definition and drill planning;

•    Initiation of bulk sampling and metallurgical test work;

•    Development of processing capabilities; and

•    Bringing the Project into production rapidly.

CEO Comment

Anil Reddy, Chief Executive Officer - Mining Operations Africa, commented:

"The formal grant of licences and mobilisation of our team to site marks a significant operational milestone for Amigo. Kabete represents a technically compelling gold system within a well-established mineralised belt, and we are now focused on systematically advancing exploration activities on the ground.

Our approach combines established geological methods with the selective application of advanced data integration techniques, enabling us to rapidly refine targets and progress toward potential resource definition."

Chairman Comment

Craig Ransley, Chairman of Amigo Resources plc, commented:

"The transition to active operations at Kabete reflects the Company's disciplined and structured approach to project development. Securing licence tenure and initiating field activities are key steps in building long-term value.

The Board remains committed to maintaining high standards of governance, technical integrity and regulatory compliance as the Project advances."

Outlook

The commencement of field operations represents a key milestone in the development of the Kabete Gold Project. With licences secured and technical work underway, the Group is positioned to progress towards production.

Competent Person Statement

The technical information contained in this announcement has been reviewed by a qualified geologist with relevant experience in gold exploration. The information disclosed relates to exploration activities and results and does not constitute a mineral resource estimate.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014.

Contacts:

Amigo Holdings PLC	[e-mail]
Craig Ransley	Executive Chair
Nick Beal	Chief Executive
Sponsor	Beaumont Cornish 0207 628 3396

About Amigo Resources PLC

Amigo is a public limited company registered in England and Wales with registered number 10024479. Amigo is focussed on gold and rare earth mining opportunities in Africa, principally in Tanzania and Mauritania. The Amigo Shares are listed on the Official List of the London Stock Exchange

Additional Information

This announcement is not intended to, and does not, constitute or form part of any offer, invitation, or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell, or otherwise dispose of, any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to this announcement or otherwise.

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