Alba Mineral Resources Plc provided the following update regarding the ongoing operations at the Clogau-St David's Gold Mine ("Clogau" or the "Mine") and the Dolgellau Gold Exploration Project in north Wales. The Company reported that its application for an extension to the duration of its European Protected Species Licence ("EPSL") has been formally granted by Natural Resources Wales ("NRW"). The new permit entitles the Company to continue its operations to dewater and explore the Lower Llechfraith workings at Clogau continuously from now until 31 September 2024.

This is significant as it means that once the Company has completed the dewatering of the workings down to Level 4, it will be able to roll out its planned exploration programme at Level 4 without interruption, including throughout the winter hibernation period. This is testament to the robustness of the exclusion zone which has been constructed by the Company in order to seal off the Lower LlechfRAith workings from protected species, notably bats. The integrity of the exclusion zone was further tested recently from an acoustics perspective, with the Company's specialist acoustic consultants recording the noise levels of various exploration activities (rock loading and tipping, drilling, jet washing, channel sampling and blasting) to ascertain whether any of those activities would exceed the noise levels set by agreement with NRW.

As Level 3 is appreciably closer (approx. 9-10 metres in vertical extent) to the boundary of the exclusion zone than Level 4, the fact that the activities on Level 3 were all completed within acceptable noise levels is very pleasing, as it can reasonably be concluded that the noise levels from the exploration activities to be conducted on Level 4 will be appreciably lower still. Regarding the Company's applications for formal variations to its existing discharge and abstraction permits to enable it to dewater the workings at higher rates, while these applications have not yet been granted, the Company reported that the abstraction permit application entered the statutory 28-day public consultation on 8 November 2023.

The discharge permit application is not subject to public consultation. Upon obtaining the revised approvals, the Company expects to proceed to a successful completion of the dewatering process and then to progress to exploration of the Lower Lllechfraith workings pursuant to the permission now granted, as referred to above, by the newly extended EPSL. In the meantime, the Company is continuing to implement emergency abstraction measures within the reflooded Lower Llechfra Lith workings at Clogau in order to safeguard the safety and access works installed on Levels 2 and 3.olgellau Gold Exploration Project As reported on 16 October 2023, Alba has recently conducted follow-up field reconnaissance at the historic Caerwych mine site.

Five samples were sent to an independent assay laboratory, with one notable spoil tip sample returning 1.365% copper. Further work is planned for this highly prospective site. Regarding the planned geophysical survey by unmanned aerial vehicle (or "UAV") over some of the Company's key regional gold targets, since the grant of formal approval by the Civil Aviation Authority ("CAA"), the Company's contractors have been on standby to mobilise to site and commence the first survey flight.

However, to date wind speeds have been above operational limits. The Company's contractors continue to monitor weather conditions on a daily basis.