Update on Saint-Sophie Project & Establishment of EBT

Summary by AI ^BETAClose X

Richmond Hill Resources PLC has commenced exploration at its Saint-Sophie Copper Project in Quebec, engaging IOS Services Géoscientifiques Inc. to manage a 6.7 km² IP survey over priority areas, aiming to identify targets for 2026 fieldwork and potential drilling. The company is also establishing an Employee Benefit Trust, which is expected to hold no more than 10% of the issued share capital. The CEO highlighted the project's significant potential, supported by historical grades and positive copper market fundamentals.

Disclaimer*

17 December 2025

Richmond Hill Resources PLC
("Richmond Hill" or the "Company")

Update on Saint-Sophie Project

Establishment of EBT

Richmond Hill Resources PLC (AIM: RHR) is pleased to provide an update on exploration activity at the Saint-Sophie Copper Project in Quebec, Canada. IOS Services Géoscientifiques Inc. ("IOS") have been engaged to operate the field exploration program and to lead the technical work, including historic data compilation, target generation, and drill-program planning.

IOS has also been engaged to manage an IP survey over priority areas at Saint Sophie. The proposed surveys will cover a total of 6.7 km² on grids that include five known occurrences. The aim of the survey is to identify targets areas for the 2026 field work and possibly future drilling.

Establishment of EBT

Richmond Hill Resources noted its intention to establish an Employee Benefit Trust ("EBT") in its admission document published on 26 September 2025. This process has now commenced and is expected to conclude shortly. It is expected that ordinary shares held in the EBT from time to time shall not exceed 10 per cent. of the Company's issued share capital from time to time.

Hamish Harris, CEO of Richmond Hill commented "The Board is pleased to commence work on Saint-Sophie, a project which we believe, based on very high historical grades, to hold significant potential. The recent strong rally in the copper price and long-term fundamentals of the copper market only serve to reinforce the narrative."

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's ability to execute and implement future plans, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

For further information, please contact:

Richmond Hill Resources Hamish Harris	Tel: +44 (0)787958 4153
Cairn Financial Advisers LLP (Nominated Adviser) Ludovico Lazzaretti / James Western	Tel: +44 (0)20 7213 0880
Clear Capital Limited (Broker) Bob Roberts	Tel: +44 (0) 20 3869 6080