Initial Vatomina Drilling Results

Total Graphite PLC

17 August 2026

 

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17 August 2026

Total Graphite plc

('Total Graphite' or the 'Company')

Initial Vatomina Drilling Results

Deliver High-Grade Near-Surface Graphite Intersections

Peak assay of 18.62% TGC as drilling supports Vatomina Optimisation Programme and near-term mine planning

Total Graphite plc ("Total Graphite", "TG" or the "Company"), the specialist graphite company developing an integrated mine-to-materials supply chain for the global energy transition, is pleased to provide an initial update on drilling results from the Madagascar Optimisation Programme initiated in July 2026.

Initial drilling at the highly prospective Tarandava Block within the Vatomina Mining Licence has returned encouraging near-surface graphite mineralisation, including a peak individual assay of 18.62% Total Graphitic Carbon ("TGC").

The programme forms part of the Company's wider Vatomina optimisation strategy, which is focused on improving geological confidence, strengthening near-term mine planning and progressively evaluating the wider mineral potential surrounding the Company's existing mining and processing infrastructure.

Highlights

·      587 metres across 17 boreholes drilled in saprolite and weathered material at the Tarandava Block;

·    drilling has tested an expanding area of approximately 1.16 km², with graphite mineralisation intersected across the programme;

·      Hole VAT-DD26-015 returned 6.5m at 9.44% TGC from 15.5m down hole, including 5.0m at 11.30% TGC from 16.0m and a peak individual one-metre assay of 18.62% TGC from 19.0m;

·      Hole VAT-DD26-009 returned 5.0m at 6.83% TGC from 6.0m down hole, including 4.0m at 7.89% TGC from 7.0m and individual assays of up to 9.91% TGC;

·      Carbon content ranging from 2.1% TGC to 18.62%TGC with graphite rich bands ( >3%TGC) being identified with average thickness of 5M to 20M.

·      the next phase of drilling is expected to focus on the Old Mine, Old Mine Extension and BK6 areas, with the objective of increasing confidence in known mineralisation and supporting the near-term Vatomina mine plan;

·      the Company's second diamond drill rig is expected to be recommissioned during August, providing additional drilling capacity; and

·      the current optimisation drilling programme is expected to continue through Q4 2026, with further drilling planned thereafter as part of the Company's longer-term programme to develop the Vatomina resource base.

Vatomina Drill Programme

The objective of the Vatomina drilling programme is to improve the Company's confidence in the existing mineral resource, support near-term mine planning and progressively evaluate opportunities to expand the resource base.

While geological work on the design of the broader infill drilling programme has been ongoing, the Company took the opportunity to undertake an initial programme at Tarandava, one of a number of prospective areas within the Vatomina Mining Licence.

A total of 587 metres across 17 boreholes has now been completed at Tarandava. The results demonstrate the presence of graphite mineralisation within shallow saprolite and weathered material, with the majority of holes intersecting graphite-bearing horizons.

Of particular significance are the results from VAT-DD26-015 and VAT-DD26-009.

VAT-DD26-015

VAT-DD26-015 intersected 6.5 metres at an average grade of 9.44% TGC from 15.5 metres down hole, including a higher-grade interval of 5.0 metres at 11.30% TGC from 16.0 metres.

Within this interval, a one-metre assay from 19.0 metres to 20.0 metres returned 18.62% TGC, the highest individual assay received from the programme to date.

VAT-DD26-009

VAT-DD26-009 returned a separate shallow mineralised interval of 5.0 metres averaging 6.83% TGC from 6.0 metres down hole, including 4.0 metres averaging 7.89% TGC from 7.0 metres.

The hole also demonstrated the presence of additional graphite-bearing horizons at depth.

The Company considers the combination of grade and shallow depth in these two holes encouraging and intends to undertake further drilling to investigate the continuity and extent of the mineralisation identified at Tarandava.

Selected Drill Results

Drill Hole	From (m)	To (m)	Down-hole Intersection (m)	TGC (%)
VAT-DD26-009	6.0	11.0	5.0	6.83
including	7.0	11.0	4.0	7.89
VAT-DD26-009	14.0	17.5	3.5	2.12
VAT-DD26-015	4.0	8.0	4.0	2.92
VAT-DD26-015	15.5	22.0	6.5	9.44
including	16.0	21.0	5.0	11.30
including	19.0	20.0	1.0	18.62
VAT-DD26-015	24.0	25.0	1.0	3.74
VAT-DD26-015	27.0	28.0	1.0	5.47

Reported intersections are down-hole lengths and true widths have not yet been determined. Average grades have been calculated on a length-weighted basis from the individual assay intervals.

Vatomina Project and Drill  Locations

Figure 1: Vatomina Operational Graphite Project showing the Tarandava and Tsaratanana prospects, existing and historical mining areas, plant area and drill locations. Red points represent historical drilling and green points represent completed 2026 drilling.

The drilling map demonstrates the relationship between Tarandava and the wider Vatomina project, including existing and historical mining areas, the Company's processing infrastructure and other priority targets.

Tanandawa Drill Hole Location Map

 Map showing drill holes in Tanandava exploration block

Cross Section View Tanandawa Drill Hole Location Map

 Cross section of BH: 6, 9 and 15 showing rich mineralised zone  zzzones

The results from Tarandava provide further evidence of graphite mineralisation across the broader Vatomina licence area and will be incorporated into the Company's evolving geological interpretation of the project.

Next Phase - Infill Drilling and Mine Planning

Following completion of this initial work at Tarandava, the next phase of the programme is expected to focus on areas of known mineralisation at Old Mine, Old Mine Extension and BK6.

This phase is intended to increase geological confidence in areas relevant to the near-term mine plan and support the Company's planned production restart and optimisation of Vatomina.

The Company's second diamond drill rig is expected to be recommissioned during August to operate alongside the rig already in use.

The current optimisation drilling programme is expected to continue through Q4 2026. Thereafter, the Company intends to maintain an ongoing drilling programme designed to progressively increase geological confidence and evaluate the wider resource potential at Vatomina and, subsequently, Sahamamy.

The 2025 SRK Competent Person's Report estimated an Exploration Target of approximately 18-20 million tonnes at an average grade of approximately 4% TGC at Vatomina, in addition to the existing resource base of approximately 6 million tonnes at 3.8% TGC.

An Exploration Target is conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource over the Exploration Target area. It is uncertain whether further exploration will result in the estimation of a Mineral Resource.

Uday Singh, Project Director, commented:

"Tarandava is one of a number of highly prospective areas within the Vatomina Mining Licence that the Company has been keen to test.

These initial results, particularly the shallow higher-grade intersections encountered in Holes 9 and 15, are encouraging and provide us with important additional geological information.

We now intend to build on this work through further drilling at Tarandava while progressing infill drilling across the existing resource areas. This will allow us to progressively improve our geological model, support mine planning and evaluate the wider mineral potential of Vatomina."

Christian Dennis, Executive Chairman, commented:

"These initial drilling results represent an encouraging start to the Vatomina Optimisation Programme.

The headline grades are clearly positive, particularly the 6.5 metre intersection at 9.44% TGC in Hole 15, which includes 5 metres at 11.30% TGC and a peak individual assay of 18.62% TGC. Hole 9 has also returned encouraging shallow mineralisation, with 5 metres at 6.83% TGC commencing only six metres down hole.

Importantly, however, this programme is about more than individual high-grade intersections. Our immediate priority is to build a much stronger geological understanding of Vatomina and use that information to underpin a more robust and data-led mine plan.

The next phase of drilling will therefore focus on the existing resource and mining areas at Old Mine, Old Mine Extension and BK6 as we work towards the planned production restart and optimisation of the Vatomina operation.

With a second drill rig expected to be recommissioned and our new Head of Madagascar Operations planned to be on site alongside external geological support, we are putting the building blocks in place for a more systematic approach to Vatomina.

We look forward to reporting further drilling results and providing shareholders with additional updates on the Vatomina Optimisation Programme over the coming weeks."

ENDS

Enquiries:

Total Graphite plc Christian Dennis - Chairman Arun Somani - Chief Executive Officer Thomas Hill - Finance Director	[e-mail] [e-mail]
AlbR Capital Limited - Financial Adviser David Coffman / Dan Harris	[phone]

 

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