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Hope & Gorob Project-New Mineral Resource Estimate
Bezant Resources Plc has announced a significant sevenfold increase in the open pittable Mineral Resource at its Hope and Gorob copper-gold project in Namibia, now estimated at over 3.0 million tonnes gross. This update, prepared by Sound Mining, extends the immediate open pit life of mine to 7.5 years and reduces the strip ratio from 11:1 to 9:1, promising substantial cost benefits. The company's interest in the project will increase to 90% following a recent acquisition. Phase 2 development, including a new flotation plant, is being accelerated, with projections of producing 25,000 tonnes of copper metal annually, generating USD290 million in revenue at a copper price of USD11,500 per tonne. Disclaimer*
About this update from Bezant Resources Plc
8 April 2026 Bezant Resources Plc ("Bezant" or the "Company") New Mineral Resource Estimate and Increase in Open Pit Life of Mine at Hope and Gorob Project Bezant is pleased to inform Shareholders of the release of a new Mineral Resource Estimate ("2026 Mineral Resource"), completed by independent resource consultants Sound Mining for the Hope and Gorob copper - gold project, Namibia ("Hope Project" or "Hope") prepared in accordance with the JORC Code (2012). The operator of the Hope Project is Hope and Gorob Mining (Pty) Ltd, the group's Namibian subsidiary in which Bezant currently holds 70% interest. As a result of the additional 20% interest acquisition in Hope and Gorob Mining (Pty) Ltd announced on 24 March 2026 Bezant's interest in the Hope Project will increase to 90%. The 2026 Mineral Resource shows a sevenfold increase in the Hope open pittable Mineral Resource from the original 2023 estimate which has a profound impact on the near-term development of the mine with additional mining costs benefits accruing from a significant reduction in the strip ratio from 11:1 to 9:1. Reclassification of the Hope open pit Resource results in 1.1Mt achieving Measured status, 0.5Mt Indicated status and 1.4Mt Inferred status all figures stated in this announcement are on a gross basis unless indicated to the contrary. Table One in the Mineral Resource Tables section of this announcement shows the Mineral Resource Estimate on a gross 100% basis and Table Two in the Mineral Resource Tables section of this announcement shows the Mineral Resources Estimate on a net 90% basis. The original 2023 Mineral Resource estimate was predominantly Inferred category and the increase in confidence provided by the 2026 Mineral Resource evidencing the 7 times increase in open pittable tonnes from the Hope deposit alone allows the Company to bring forward Phase 2 Hope Project development by 5 years. Phase 2 development will see the development of a new flotation plant, subject to statutory approvals located closer to Walvis Bay producing 25,000 tonnes of copper metal annually and generating USD290 million revenue at a USD11,500 per tonne copper price. Highlights · A sevenfold increase in the Hope open pittable Mineral Resource from 0.41Mt (2023 estimate) to more than 3.0Mt (gross) · Hope open ...
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