Arkle Resources PLC Grant of Three Licences in Zimbabwe (8665P)

TIDMARK

RNS Number : 8665P

Arkle Resources PLC

23 June 2022

Arkle Resources PLC

("Arkle" or the "Company")

Grant of Three Licences in Zimbabwe with Potential for Lithium

Arkle (AIM:ARK) has been granted three licences covering 163 hectres to prospect for Lithium in the Insiza District of the Matabeleland South Province of Zimbabwe. The Directors believe that these licences, which cover a small area, represent a low-cost entry into one of the largest lithium producing countries in the world.

Arkle staff identified the free ground, pegged it and applied for licences. The ground saw limited mining of lepidolite in the late 1960s. Lepidolite is a lithium bearing mineral associated with spodumene.

John Teeling, Chairman commented : "This is a toe in the water exercise by Arkle. The directors have long experience in Zimbabwe and are aware of the extensive history and potential for hard rock lithium in the country. The lithium is contained in spodumene / pegmatites. It is only recently that rising lithium prices and the potential of a massive supply gap to meet battery demand have made extraction of hard rock lithium viable.

"The Arkle approach is to make a low-cost entry into both Zimbabwe and Lithium. We have examined what ground was available and been granted three licences, one of which was a small lepidolite producer - a lithium associated mineral. We continue to examine additional opportunities in battery metals."

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

The person who arranged for the release of this announcement on behalf of the Company was Jim Finn, Director.

A copy of this announcement is available on the Company's website, at www.arkleresources.com

ENDS

Enquiries:

Arkle Resources PLC

   John Teeling, Chairman                                               +353 (0) 1 833 2833 
   Jim Finn, Finance Director                                          +353 (0) 1 833 2833

SP Angel Corporate Finance LLP

Nominated Adviser and Joint Broker

   Matthew Johnson/Adam Cowl                                +44 (0) 203 470 0470

First Equity Limited

Joint Broker

   Jason Robertson                                                        +44 (0) 207 374 2212 
   BlytheRay                                                                    +44 (0) 207 138 3204

Megan Ray

Rachael Brooks

Teneo

   Luke Hogg                                                                   +353 (0) 1 661 4055 
   Ciara Wylie                                                                  +353 (0) 1 661 4055

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June 23, 2022 02:00 ET (06:00 GMT)

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