W Resources Plc announced that the Company has drawn down $2 million from the additional $5.5 million loan facility ("Loan Facility") provided by funds and accounts managed by BlackRock Financial Management Inc. and /or its affiliates ("BlackRock") as announced on 2 March 2022. The additional funding will be used to fund working capital requirements at the La Parrilla mine in Spain. Production at the La Parrilla mine is still suspended as the prices for delivery of Liquefied Natural Gas ("LNG") remain in excess of €500,000 per month, which is far too high to allow production to be economically viable right now.

The Company continues to look at alternatives to LNG with its investigation into solar power and also the electricity grid connection upgrade. The second tranche of $2 million has been received and the Loan Facility will, once fully drawn down, increase the total outstanding BlackRock facility to a principal of $53 million plus accrued interest of circa $27million.