Update on Proposed Acquisition

Atlas Metals Group PLC

16 February 2026

 

16 February 2026

Atlas Metals Group plc

("Atlas Metals" or the "Company")

Update on Proposed Acquisition

Atlas Metals (LON: AMG), the natural resources and energy company is pleased to provide an update on the Company's proposed acquisition of Universal Pozzolanic Silica Alumina Ltd ("UPSA") (the "Proposed Acquisition").

As detailed in the Company's announcement on 22 December 2025, the Company engaged SLR Consulting Australia Pty Ltd ("SLR"), to conduct a confirmatory drilling campaign, commencing on Lots 7 and 8 at the Yammacoona Sand Quarry in New South Wales, Australia, with the intention of proving a measured resource, and a technical memorandum has been provided by SLR.  A total of 26 drillholes have now been completed using three drilling methods, diamond, percussion and blast hole, for a total of 1,265 metres.

From the samples collected during the drilling programme Quantitative X-Ray Diffraction (QXRD) and clay mineralogical analyses will be undertaken to characterise material properties relevant to assessing pozzolanic potential. Drill core pieces representing all lithological units were also selected for petrographic examination and X-ray Fluorescence (XRF) analysis to document mineralogical composition and textural features.

Initial volumes pending validation of drilling data, interpretation, geological modelling and material test results within Lots 7 and 8 indicate that the concept pit (see figure 1 below) covered by the areas of Lots 7 and 8 contains a total of 86.5 million tonnes of pozzolanic sandstone from a total volume of 151.75 million tonnes of material. Whilst these initial volumes are being assessed for resource status pending material testing and validation, the purpose of the update is to increase confidence in the volumes towards measured status. Volumes may vary based on further development of the geological model and validation.

Atlas Metals is expecting SLR to complete the updated Competent Person's Report ("CPR"), using data obtained from this drilling programme, which is expected to include certain JORC resources being upgraded from the inferred to measured category, prior to the completion of the Proposed Acquisition. The last published CPR on the Yammacoona Sand Quarry, as announced by the Company on 28 November 2025, may be found on the Company's website at:

https://atlasmetalsgroup.com/investors/reports

The Proposed Acquisition continues to progress in line with the Board's expectations and further announcements on the progress of the Proposed Acquisition will be made when appropriate.

Figure 1 - Concept Pit Design, showing the locations of blocks 7 and 8 (from SLR CPR 26 November 2025

Illustration: Recent SLR drilling on behalf of the Company at the Yammacoona Sand Quarry in New South Wales, Australia

For further information, please contact:

Atlas Metals Group plc:
Christopher Chadwick	[phone]
Strand Hanson - Financial Adviser and Sponsor:
Rory Murphy	[phone]
Abigail Wennington	[phone]
Edward Foulkes	[phone]
S I Capital Limited - Joint Broker:
Nick Emerson	[phone]
CMC Markets - Joint Broker:
Douglas Crippen	[phone]
Axis Capital Markets Limited - Joint Broker:
Richard Hutchison	[phone]
IFC Advisory Limited - Financial PR and IR:
Tim Metcalfe	[phone]
Graham Herring	[phone]

 

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