Celsius Resources Ld (AIM:CLA) Admission to trading on AIM, first day of dealing

Celsius Resources Limited (“CLA”, “Celsius Resources” or the “Company”), an exploration and development company with a portfolio of world-class mineral assets in the Philippines and Namibia, is pleased to announce the admission of its entire issued ordinary share capital of no par value (“Ordinary Shares”) to trading on AIM, a market operated by the London Stock Exchange plc, at 8.00am today under the ticker CLA (“Admission”).

The Company’s Appendix Document, as well as other information required pursuant to AIM Rule 26, is available on the Company’s website at https://celsiusresources.com/ . The Company is also listed on the Australian Securities Exchange (“ASX”) under the same ticker.

Admission follows a placing by SP Angel Corporate Finance LLP (“SP Angel”) for a total of 299,375,000 Ordinary Shares at 0.8p per Ordinary Share (the “Placing Price”), raising gross proceeds of £2.4m, before expenses (the “Placing”).

SP Angel acted as Broker and Beaumont Cornish acted as the Nominated Adviser in relation to the Admission.

Placing Statistics:

 Celsius Resources is run by an experienced team, with strong local knowledge, mining and financial markets experience. The Company is seeking to produce commercial scale quantities of copper, through sustainable and community-driven operations.

Highlights:

Celsius’ Philippine subsidiary, Makilala Mining Company, Inc., (MMCI) is currently in the advanced stages of securing its major mining permits as well as further feasibility work for its flagship Maalinao-Caigutan-Biyog (MCB) Project.

Recent resource drilling results has led to an updated JORC Mineral Resource Statement (See CLA ASX Announcement dated 12 December 2022) which will feed into a revised mine plan and ore reserve as a basis for the Feasibility Study. Specifically, outstanding high-grade assay results (See CLA ASX Announcement dated 04 July, 03 August, and 19 October 2022) defined further higher-grade positions and complemented historical drilling information which are expected to improve the mine plan and the overall cash flow early in the mine life.

The Declaration of Mining Project Feasibility (DMPF) application lodged with the Philippines Mines and Geosciences Bureau (MGB) in September 2022 (See CLA ASX Announcement dated 04 October 2022) is anticipated to be approved by the 1^st quarter of 2023. Once approved, this will trigger the next stage of obtaining a Mineral Processing Sharing Agreement (MPSA) with the Philippine government, granting the company a term not exceeding 25 years and renewable for another 25 years.

An Indicative Proposal from local partners has also been secured to satisfy the MPSA requirements for a 60%:40% Filipino-Foreign ownership (See CLA ASX Announcement dated 14 December 2022).

MMCI is also in the process of firming up its Environmental, Social, and Governance (ESG) portfolio through an ongoing assessment by a third-party expert. Guided by universally accepted ESG principles, the company firmly commits its focus on delivering sustainable and ethical mineral resource projects.

Another Celsius’ Philippine subsidiary, Tambuli Mining Company, Inc., has undertaken desktop studies and review of recent drilling results, along with previous drilling and exploration data, to reinterpret the geologic and mineralisation models and resource evaluation to improve exploration and future development strategies. This resulted in a Maiden Mineral Resource which has shown a large-scale copper mineralisation over an extensive area from surface. The next phase of exploration will focus on investigating the possible extensions of higher-grade positions closer to the surface.

Peter Hume, Managing Director, Celsius Resources Limited, said:

“We have attained great strides in progressing the MCB Project closer to operations. This can be attributed to the trust and support of the Balatoc Indigenous Cultural Community, the local and national government units and agencies, as well as our shareholders, in the potential of the project and the Company. With the imminent approval of our major mining permits, we will develop and showcase the MCB project as a model for Transformative Mining for our shareholders and stakeholders.”

“Our Opuwo Cobalt Project is also well positioned to benefit from the rising demand for battery metals and investor interest to cash in on the boom for long-term investments in green activities and projects which will underpin a global ESG push.”