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THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY IMC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
IMC Exploration Group plc
(“IMC” or the “Company”)
IMC Exploration Group plc (IMC), the London-listed exploration company based in Ireland, is pleased to announce results showing free gold in quartz veins intersected by drillhole 24-2551-01 from a laboratory study of its 2024 drilling at its Boley prospect in Prospecting Licence (PL) 2551 in Co. Wexford Ireland.
Drillhole 24-2551-01 extended the strike extent of known gold mineralization at the Boley prospect by 150m to the northeast by intersecting 1m grading 5.8g/t Au in an upper zone and 1m grading 1.1g/t Au in a lower zone (IMC News Release 21st March 2024). An historic IMC drillhole from the Boley prospect intercepted 1.5m grading 354g/t Au near surface.
The laboratory study reported today was undertaken by, Dr Seán H. McClenaghan of the Raw Materials Characterization Laboratory, Trinity College Dublin and confirmed free gold in quartz veins intersected by drillhole 24-2551-01.
Highlights
- Petrographic examination of 24-2551-01 confirmed the presence of quartz-vein hosted gold mineralization in bedrock at a depth of 90.5m.
- Polished sections reveal a high abundance of bismuth-tellurides in association with gold-rich electrum (Au 91 Ag 09 ) and tetrahedrite within orogenic quartz also hosting chalcopyrite, galena, pyrite and arsenopyrite.
- Work reported today indicates pyrite and chalcopyrite in quartz veins may represent effective indicators of gold and associated mineralization.
Mineralogical assessment indicates gold in the Boley quartz veins in PL 2551 may represent part of an orogenic Au-Bi-Te (Cu-Pb) trend. Discrete gold-bearing quartz veins intersected in drillhole 24-2551-01 may be interpreted to represent a distal extent of a wider orogenic gold trend. Laser-Ablation ICP-MS analyses of pyrite crystals reveals gold enrichment up to 248g/t Au, representing some of the highest recorded values of gold within pyrite from Caledonian terranes.
The level of gold in pyrite analysed at Boley is similar to that in pyrite phases which host gold at the Curraghinalt deposit in Co. Tyrone, Northern Ireland.
Planned 2026 exploration activities on PL 2551 will focus on ground prospecting, bedrock mapping and trenching of targets informed by data from drillhole 24-2551-01.
Dr Sean H. McClenaghan, Raw Materials Characterization Laboratory, Trinity College Dublin commented:
“Petrographic confirmation of gold in bedrock following up from an earlier assay intersection of 354g/t Au highlights the potential for further discovery at PL 2551. The strong auriferous nature of pyrite associated with the vein intersections suggest strong Au fertility with excellent potential along the Boley trend.”
Eamon O’Brien, IMC Executive Chairman commented:
“Following the Company’s recently announced Karaberd Gold and Silver mine’s successful licence extension to 2035 in Armenia, these findings from the Irish portfolio further underscore IMC’s strategy of identifying and advancing high-value gold assets across multiple jurisdictions. Having a mineralogical fingerprint showing similarities to the world-class Curraghinalt multi-million-ounce gold deposit located in the Sperrin Mountains of County Tyrone, Northern Ireland, justifies the Company’s continued high expectations for further exploration activities on this PL2551 licence, particularly as finding Au-rich electrum (Au91Ag09) in the ore can be a positive indicator because higher gold fineness generally suggests favourable hydrothermal conditions for gold enrichment”
A copy of the full report is available on the IMC website at: https://www.imcexploration.com/licences/technical-reports
Qualified Person
Technical information in this news release has been approved by Professor Garth Earls, Eur Geol, P.Geo, FSEG, geological consultant at IGS (International Geoscience Services) Limited, and independent ‘ Competent Person’ as defined under the 2021 Pan-European Reporting Standard.
The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.
Eamon P. O’Brien,
Executive Chairman,
Dublin, 24th February 2026.
REGULATORY ANNOUNCEMENT ENDS.
Enquiries
IMC Exploration Group plc
Eamon O’Brien
+353 87 6183024
Kathryn Byrne
+353 85 233 6033
Keith, Bayley, Rogers & Co. Limited
Stephen Clayson
+44 (0)7771 871 847
Brinsley Holman
+44 (0)7776 302 228
IFC Advisory Limited (Financial PR and IR)
Tim Metcalfe
Florence Staton
+44 (0)203 934 6632
THE DIRECTORS OF IMC EXPLORATION GROUP PLC CONSIDER THIS ANNOUNCEMENT TO CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO. 596/2014 OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (THE "MARKET ABUSE REGULATION"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
IMC Exploration Group Public Limited Company
("IMC" or the "Company")
IMC Exploration Group Public Limited Company announces the successful renewal of its mining licence to Assat LLC, IMC's 100% owned subsidiary, for the Karaberd Mine, located in Lori Marz province, Republic of Armenia,
IMC is delighted to announce the renewal of its mining licence to Assat LLC, IMC's 100% owned subsidiary, for the Karaberd Mine, located in Lori Marz province Republic of Armenia.
The licence has been renewed for a period of 9 (nine) years until 1 st January 2035.
The renewed licence provides for underground extraction of 30,000 tons of ore per annum and a requirement to submit a reserve revaluation report to the authorized body two years after receiving the right to use the subsoil, which should also include the reserves available in the open pit.
Under the renewed Licence Assat LLC has a right to extract up to 1,274 kg of gold and 2,310 kg of silver.
The renewal was awarded by the Minister for Territorial Administration and Infrastructures of the Republic of Armenia by way of amendments to the original licence NO. t U@-29/366.
The extended tenure of the licence to 2035 secures the long-term future of the mine and enables the systematic extraction of the ore that will be processed to extract Gold and Silver.
Chairman, Eamon O'Brien commented "I am extremely pleased and happy for IMC, for our shareholders, including our major shareholder Mineral Ventures Invest s.r.o. and its CEO David Marasek who have provided steadfast support to IMC since the Karaberd mine acquisition, for our new Assat LLC CEO, Armand Pinarbasi, who along with our staff and corporate, legal and geological advisers achieved this major milestone.
After IMC first achieved its full listing on the main market of the LSE, its first target acquisition was to acquire the Karaberd mine and while we have had lengthy and varied issues to navigate along the way, as explained in previous announcements, the renewal of the Karaberd mine licence could not have come at a better time when Gold and Silver have hit record prices per Oz having recently surpassed $5,000 Au and $100 Ag respectively.
The renewal that went through a very rigorous regulatory assessment, including through the Armenian Minister for Environment and four public hearings, also confirms the Company's good standing with the Armenian regulatory authorities".
Other Information
At this time, it is also worth noting that the Competent Persons Report update for the minerals deposit, dated 26th June 2023 for the Karaberd mine, as prepared by AMC Consultants of Perth, Australia for the purposes of assessing the approval by IMC shareholders of the Karaberd mine related acquisition, in October 2023, was set out as follows:
Mineral Resource Estimate Table showing Indicated and Inferred
Production
ASSAT LLC is currently finalising agreements in relation to ore enrichment and production of concentrate from its ore and then further processing of that concentrate to final 999 gold and silver products. Updates will be provided on the finalisation of these agreements.
Armenian Stock Exchange Dual Listing
Armand Pinarbasi, the new IMC Board business development director
( https://www.imcexploration.com/corporate/board-of-directors ), commented "following the successful renewal of the Karaberd Mining licence, and with the advantage of a current strong Gold and Silver price, IMC is now well placed to progress this added listing. This listing will enhance local liquidity and further strengthen the Company's standing within the Armenian capital markets".
Eamon P. O'Brien,
Executive Chairman,
Dublin, 26th January 2026
The Directors of IMC Exploration Group Public Limited Company, after due and careful enquiry, accept responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Enquiries
IMC Exploration Group plc
Eamon O'Brien
eamon.obrien@imcexploration.com
+353 87 6183024
Kathryn Byrne
+353 85 233 6033
Keith, Bayley, Rogers & Co. Limited
Stephen Clayson
stephen.clayson@kbrl.co.uk
+44 (0)7771 871 847
Brinsley Holman
brinsley.holman@kbrl.co.uk
+44 (0)7776 302 228
IFC Advisory Limited (Financial PR and IR)
Tim Metcalfe
Florence Chandler
+44 (0)203 934 6630
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