Business
Appointment of Geological Consultant, Brazil
Ajax Resources PLC has appointed Elton L.S. Pereira as Senior Geological Consultant, Brazil, effective upon the completion of the acquisition of the Pereira Velho Gold Project. Mr. Pereira, who led the discovery of the project, has over 30 years of international experience and was instrumental in defining an initial internal resource estimate of approximately 110,000 ounces of gold from only one-fifth of the project area. The company anticipates commencing a new drilling campaign of approximately 3,000 metres, targeting an initial resource of 350,000 ounces of gold, with a broader potential of up to one million ounces. The acquisition is expected to complete around 30 January 2026. Disclaimer*
About this update from Ajax Resources Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.\n \n23 January 2026\nAJAX RESOURCES PLC\n(\"Ajax\" or the \"Company\") \nAppointment of Geological Consultant, Brazil\nAjax [AQSE: AJAX], the natural resources investment company, is pleased to announce the appointment of Mr. Elton L.S. Pereira, M.Sc., as Senior Geological Consultant, Brazil, with effect upon completion of the acquisition of 100% of the issued share capital of Pereira Velho Exploração S.A. (\"PVESA\"), a Brazilian company that owns the Pereira Velho Gold Project (\"PV\" or the \"Proposed Acquisition\") located in Alagoas State, Brazil.\nPVESA is wholly owned by entities affiliated with Appian Capital Advisory Limited (\"Appian\"), and the Proposed Acquisition was announced to the market by the Company on 11 December 2025.\nPreparatory Activities\nMr. Pereira will support Ajax during an initial implementation and reactivation phase of PV, prior to the commencement of development activities, including a new drilling campaign for a total of approximately 3,000 metres, in the capacity of geological consultant.\nThis phase will focus on preparing the project for drilling, including the re-establishment of local operations, review of existing data, permitting and planning activities in full cooperation with the local authorities, and engagement with local stakeholders and service providers.\nSubject to completion of the Proposed Acquisition, this phase is expected to commence on or about 2 February 2026.\nTechnical Background\nMr. Pereira is a senior exploration geologist with more than 30 years of international experience in mineral exploration, project development, and country-level operational management, with a strong focus on gold and critical minerals in Brazil.\nDuring his tenure at Appian, Mr. Pereira led the exploration team responsible for the discovery of the Pereira Velho Gold Project, overseeing the geological interpretation, exploration strategy, and execution that confirmed the presence of a large-scale orogenic gold system in Alagoas State. Under his leadership, exploration activities defined an initial internal shallow, oxide resource estimate of approximately&nb...