Investee Company Update: Peak Nickel

Ormonde Mining PLC

30 July 2026

 

30 July 2026

Ormonde Mining plc

("Ormonde" or the "Company")

Investee Company Update: Peak Nickel

Metallurgical testwork confirms marketable copper and attractive nickel concentrates

Ormonde Mining plc (AQSE: ORM), the natural resources company with investment exposure to outstanding gold and battery metal exploration assets in Newfoundland, Spain and Scotland, notes the recent update by Winshear Metals Corp. ("Winshear") (TSX-V: WINS, FRA: 9HR0), regarding successful metallurgical testwork conducted on the nickel-copper-cobalt mineralisation at the Rodburn Target, part of the Portsoy Project in Aberdeenshire, Scotland.

The Rodburn Target is owned by Peak Nickel Limited, in which Ormonde holds an 18.9% equity interest, and is being advanced under an option agreement with Winshear, which is fully funding exploration at the project.

The full announcement from Winshear follows below.

Brian Timmons, Chair of Ormonde, commented:

"These are encouraging early results that reinforce the quality of the Rodburn mineralisation and the potential of the Portsoy Project. The ability to produce marketable copper and highly attractive nickel concentrates using conventional processing methods is an important validation point for the project. With exploration now fully funded by Winshear, we look forward to the results of further metallurgical and drilling work as the project continues to develop."

Winshear Portsoy Project - Successful Metallurgical Testwork Produces Marketable Copper and Hightly Attractive Nickel Concentrates

July 27, 2026

Winshear Metals Corp.  (TSX-V: WINS, FRA: 9HR0) reports positive results from the first ever metallurgical testwork conducted on the nickel - copper - cobalt mineralization from the Rodburn Target, Portsoy Project, NE Scotland.   

The testwork was conducted by Blue Coast Research Ltd of British Columbia, Canada, under the supervision of Rob Thorpe (VP Innovation and Technology) and Tony Tran, P.Eng. (Project Metallurgist).

Highlights

·      Metallurgical studies were conducted on a composite sample of massive to disseminated sulphide mineralisation from drill holes completed in 2023 / 2024.

·      The objective was to determine the amenability of the mineralisation to respond to conventional sequential flotation methods and produce marketable copper and nickel concentrates.

·      Head assays were 0.82% copper, 1.64% nickel (1.38% nickel in sulphide), and 0.11% cobalt.

·      Based on the batch tests, copper recoveries of 75-80% and nickel of 60-65% can be expected. Further testwork, including locked-cycle studies (LCT), is anticipated to improve recoveries.

·      Nickel concentrate grades of 14-16% were produced and included in excess of 1% cobalt. Such a concentrate would be considered 'highly attractive to nickel smelters' (Blue Coast).

·      The nickel concentrate contained 0.54% copper which would be payable.

·      Copper concentrate grades of ~25% with <1% nickel content are considered typical of this style of mineralisation. The low nickel content falls below the penalty charge levels.

 
Richard Williams, CEO of Winshear, commented; "These are very positive results at this stage of the Portsoy Project.  It was key for us to understand the metallurgical characteristics of the mineralisation and to ensure the recoverability of the copper, nickel and cobalt and the quality of the concentrates produced at an early stage.

"The results provide confidence that the Rodburn mineralisation can be processed using conventional methods, with the potential to produce saleable copper and nickel concentrates, supporting the case for further optimisation testwork as the project advances."

A report entitled 'Rodburn Project - Cu-Ni Flotation' authored by Rob Thorpe of Blue Coast can be viewed here.

Qualified Person

J. Patricio Varas, P.Geo., a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and also Winshear's President and Director, has read and approved all technical and scientific information contained in this news release.

Tony Tran, P.Eng, Project Metallurgist for Blue Coast has also read and approved the technical disclosure in this news release.

About Winshear Metals Corp

Winshear Metals Corp. is a Canadian-based minerals exploration company with a nickel-copper-cobalt project in Scotland (the Portsoy Project) and gold / critical minerals project in Ontario (the Thunder Bay Project).

For more information, please visit www.winshear.com or contact:

Irene Dorsman	Winshear Metals Corp. Communications	[phone] [e-mail]
Megan Ray / Said Izagaren	BlytheRay (Public Relations)	[phone] [e-mail]

ON BEHALF OF THE BOARD OF DIRECTORS

"Richard D. Williams"
Richard D. Williams, CEO

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Caution Regarding Forward Looking Statements

Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws, including statements regarding the metallurgical studies conducted at the Portsoy Project, the ability to continue to meet the metallurgical recoveries presented in this new release, and the timing, scope, completion and results of the 2026 field program. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. With respect to forward-looking statements contained in this press release, assumptions have been made regarding, among other things, the reliability of information prepared and/or published by third parties that are referenced in this press release or was otherwise relied upon by the Company in preparing this press release. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include but are not limited to: variability of the style of sulphide mineralisation; the risk that future drilling may not intersect massive sulphide mineralization or mineralization comparable to historical results; uncertainty regarding continuity, grade, true thickness and extent of mineralization; delays or challenges in planning, permitting, financing or completing exploration; access, weather, logistical, contractor and community-related risks in Scotland; changes in commodity prices, exchange rates, capital markets, laws or government policy; risks inherent in early-stage mineral exploration; and the other risks described in the Company's public disclosure record. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Enquiries:

Ormonde Mining plc

Brian Timmons, Chairman / Brendan McMorrow, CEO

Tel: +via Vigo Consulting

Vigo Consulting (Investor Relations)

Ben Simons / Fiona Hetherington

Tel: [phone]

AlbR Capital Limited (Aquis Corporate Adviser)

David Coffman

Tel: [phone]

About Ormonde Mining

Ormonde is a natural resources company delivering exposure to outstanding gold and battery metal exploration projects. Ormonde's portfolio comprises:

·    A 36.3% equity interest in TRU Precious Metals (TSXV: TRU), which is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt in Canada, funded by Eldorado Gold Corporation (NYSE: EGO, TSE: ELD - US$5 billion market cap) which has optioned the project

·    A 100% interest in two gold exploration licences in the Zamora province in western Spain, for which the Company is advancing value enhancing options

·    An 18.9% equity interest in Peak Nickel Limited, which is exploring for battery metals at the Rodburn Project in Aberdeenshire with indications of a significant deposit, fully funded by Winshear Gold Corp. (TSXV: WINS) which has optioned the project

Ormonde's shares are quoted on the Aquis Stock Exchange Growth Market under the symbol AQSE: ORM.

For more information, visit the Company's website at www.ormondemining.com.  

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The Directors of the Company accept responsibility for the contents of this announcement.

 

END