Switch Metals: Issia drilling update

ISBRC0024

Kabore

42

56

14

1.02

42

78

incl.

43

50

7

1.75

58

110

ISBRC0024 (3)

Kabore

37

42

5

0.11

97

145

ISBRC0009

Kabore

1

2

1

0.02

153

169

ISBRC0009

Kabore

29

42

13

0.26

66

78

incl.

32

33

1

1.42

106

132

Incl.

29

35

6

0.29

130

152

ISBRC0023

Kabore

34

36

2

0.05

158

180

ISBRC0006

Kabore

68

70

2

0.04

143

187

ISBRC0003 (3)

Zraty

58

64

6

85

134

incl.

61

62

1

112

172

ISBRC0001 (3)

Zraty

40

42

2

64

87

ISBRC0002

Zraty

NSI

Switch Metals plc

Karl Akueson, CEO

Andy Yeo, CFO

Via IFC Advisory

Allenby Capital Limited (Nominated Adviser & Broker)

Corporate Finance: James Reeve / Nick Harriss

Sales: Kelly Gardiner / Lauren Wright/ Matt Butlin

+44 (0) 203 328 5656

IFC Advisory Limited (Financial PR and IR)

Tim Metcalfe / Florence Staton

switchmetals@investor-focus.co.uk

+44 (0) 203 934 6632

Sampling techniques

Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools). Measures taken to ensure sample representivity. Aspects of the determination of mineralisation that are Material to the Public Report.

Sampling was undertaken on reverse circulation (RC) drill chips. Samples were collected at 1 m intervals from the cyclone and split at the rig using a riffle splitter to produce a sub-sample with a target mass of 2-4 kg for analysis. The coarse reject was retained on site for reference. The whole drill-holes were sampled.

Drilling techniques

Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

Drilling was completed by Geodrill using a RC rig with a face-sampling hammer bit. RC drilling does not produce oriented samples, and no structural orientation data were collected from the drill holes.

Drill sample recovery

Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade.

Sample recovery was assessed for each metre by weighing the bulk sample. Average recovery within pegmatite intervals was >80%. Samples were predominantly dry; wet samples were recorded. No relationship between recovery and grade has been observed.

Visual checks of sample volumes were used to identify irregular returns. Cyclone condition and cleanliness were checked regularly, and the sample return system was purged by air flush to minimise sample loss and carry-over.

Logging

Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation. Whether logging is qualitative or quantitative. The total length and percentage of the relevant intersections logged.

All RC chips were geologically logged at 1 m intervals for lithology, mineralogy, weathering and alteration. Representative chips were retained in labelled chip trays, which were photographed and archived at the Company’s Camp. Geological logs were checked by the supervising senior geologist.

Sub-sampling techniques and sample preparation

If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. Nature, quality and appropriateness of the sample preparation technique. Quality control procedures for all sub-sampling stages. Field duplicates. Whether sample sizes are appropriate to the grain size.

Dry samples were progressively riffle-split, with splitting stages selected according to the bulk sample mass to obtain a target analytical sample mass of 2–4 kg. Splitters and associated equipment were cleaned between samples. The procedure required wet material to be dried before riffle splitting; manual quartering was permitted where material remained too damp for riffle splitting. Field duplicates were prepared as separate splits of the same bulk sample, targeting three duplicates per 100 submitted samples.

At Intertek Yamoussoukro, Côte d’Ivoire, samples were dried, crushed to 2 mm, riffle split and pulverised to minus 75 µm. Sample sizes are considered appropriate for first-pass exploration. Spodumene in the Kabore pegmatites is coarse-grained (centimetric) and tantalum minerals are prone to a nugget effect, so some sample-to-sample variability is expected.

Quality of assay data and laboratory tests

The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy and precision have been established.

Samples were analysed at Intertek, Perth area, Western Australia by sodium peroxide fusion with ICP-OES / ICP-MS finish for Li, Ta, Nb, Cs, Rb, Sn and a multi-element suite. Sodium peroxide fusion is considered a total digestion technique appropriate for lithium and for refractory tantalum-bearing minerals (columbite-tantalite).

Certified reference materials and blanks, both OREAS commercial materials, were each inserted at a rate of 1 in 15 samples. The overall QAQC insertion rate was 10%. CRM results fell within ±3 standard deviations of certified values, and blanks returned Li2O values below the detection limit. Field duplicates showed very good precision.

Verification of sampling and assaying

The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage protocols. Discuss any adjustment to assay data.

Field observations and sampling records were recorded on standard field sheets and entered into dedicated Excel files. Data were checked by the supervising senior geologists, discrepancies were referred back to the originating personnel for correction, and validated records were transferred to the database manager to be stored in a database, that has been verified by an independent geologist.

Significant intersections were verified by the Competent Person, who recalculated them from the laboratory assay files. No twinned holes have been drilled.

No adjustments have been made to assay data other than the oxide conversions stated (Li × 2.153; Ta × 1.2211; Nb × 1.431).

Location of data points

Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys). Specification of the grid system used. Quality and adequacy of topographic control.

Collars were surveyed using hand-held GPS. The grid system is WGS84 / UTM Zone 29N. Downhole surveys were taken every 50 or 60 m  and one measurement at 12m to acknowledge for surface deviation.

Data spacing and distribution

Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish geological and grade continuity appropriate for a Mineral Resource. Whether sample compositing has been applied.

Drilling is first-pass exploration on sections spaced 50 m to 100 m apart at Kabore and on two sections at Zraty. Data spacing is not sufficient to establish geological and grade continuity for Mineral Resource estimation. No sample compositing has been applied.

Orientation of data in relation to geological structure

Whether the orientation of sampling achieves unbiased sampling of possible structures. If the relationship between drilling orientation and key mineralised structures has introduced a sampling bias, this should be assessed and reported if material.

Holes were planned to intersect the mapped pegmatite trends at a high angle, and oriented approximately perpendicular to the strike of the pegmatites as mapped at surface and in trenches (Kabore: about -50° to -60° towards 290° or 110°; Zraty: -60° towards 170° or 350°). Drill sections indicate steeply dipping pegmatites. Estimated true widths are approximately 50% to 70% of downhole lengths. No sampling bias is considered to have been introduced.

Sample security

The measures taken to ensure sample security.

Samples were individually labelled and transferred to the Company’s camp by Company personnel. Sample sequences were checked against submission lists. Completed transport bags were secured with cable ties before dispatch. Samples were delivered to Intertek Yamoussoukro by road transport, accompanied by sample submission documentation. Reference samples were retained in a dedicated storage facility at the Company’s camp. RC Chips were duly photographed and stored in properly labelled chip trays.

Audits or reviews

The results of any audits or reviews of sampling techniques and data.

Sampling procedures and data were reviewed by the Competent Person as part of its technical support to the programme. No separate independent audit of sampling and analytical procedures has been undertaken.

Mineral tenement and land tenure status

Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting.

The prospects are located within the Badinikro exploration permit PR0895, covering 111.89 km². The permit is held by Switch Metals Cote d’Ivoire, in which Switch Metals holds a 100% interest. The permit was granted on 1 March 2023. Renewal is due in February 2027. No known impediments exist.

Exploration done by other parties

Acknowledgment and appraisal of exploration by other parties.

Issia is a greenfield project developed by Switch Metals since 2023

Geology

Deposit type, geological setting and style of mineralisation.

Mineralisation is hosted in LCT-type pegmatite dykes intruding Birimian metasediments along the NW–SE Issia pegmatite corridor. Lithium occurs as spodumene, identified by XRD at surface (announcement dated 2 February 2026). Tantalum is hosted by columbite-tantalite. Near-surface pegmatites are weathered and oxidised, which may result in some lithium depletion in the upper zone.

Drill hole Information

A summary of all information material to the understanding of the exploration results including a tabulation of collar coordinates, elevation, dip and azimuth, down hole length and interception depth, hole length.

Collar information (hole ID, easting, northing, RL, azimuth, dip, final depth) has been throughfully recorded and is presented on the Map given in Figure 2 with coordinates and orientation.. Significant intersections are given in Table 1 when results are available. All holes drilled and assayed to date are listed, including holes with no significant intersections (NSI).

Data aggregation methods

Weighting averaging techniques, maximum and/or minimum grade truncations and cut-off grades. Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used should be stated and typical examples shown in detail. Metal equivalent assumptions.

Significant intersections are reported using a lower cut-off of 0.25% Li2O and/or 100 ppm Ta2O5, with a maximum of 4 m of consecutive internal dilution. Intervals meeting either criterion are reported. Cut-off grades have been applied with flexibility to acknowledge for mineralisation. Higher-grade “including” intervals are reported. No top cut has been applied. Grades are length-weighted averages. Lithium assays are reported as Li2O using a conversion factor of 2.153 (Li × 2.153). Tantalum assays are reported as Ta2O5 using a conversion factor of 1.2211 (Ta × 1.2211). No metal equivalents are reported.

Relationship between mineralisation widths and intercept lengths

If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg "down hole length, true width not known").

All intervals are reported as downhole lengths. Holes were drilled at about -50° to -60° towards pegmatite dikes identified in surface, approximately perpendicular to the strike of the pegmatites as mapped at surface. Interpretation on drill sections indicates steeply dipping pegmatites. Estimated true widths are approximately 50% to 70% of downhole lengths.

Diagrams

Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported.

A plan view (Figure 2) and a representative cross-section (Figure 3) are included in the body of this announcement, together with the significant drill intersections presented in Tables 1.

Balanced reporting

Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced.

All results are reported, including holes with no significant intersections (ISBRC0001, ISBRC0002) and low-grade tantalum intervals. Assays are pending for 27 holes and will be reported when received.

Other substantive exploration data

Other exploration data, if meaningful and material, should be reported including geological observations, geophysical and geochemical survey results, metallurgical test results, bulk density.

Surface trenching, grab sampling and soil geochemistry at Kabore and Zraty were first reported on 2 February, 10 February and 4 June 2026. Specific gravity, mineralogical (XRD) test work on drill samples and metallurgical test work have not yet been undertaken.

Further work

The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams highlighting the areas of possible extensions.

Further drilling is planned to test strike and depth extensions. Assays for 27 holes are pending and are expected to be available by the end of 2026.