The Board of Xtract Resources Plc announced that the Company has entered into a joint venture agreement with Cooperlemon Consultancy Limited in relation to the exploration for copper at large scale exploration licenses 29123-HQ-LEL and 30459-HQ-LEL in Northwest Zambia (the " Licences"). Highlights: The two exploration licences are located within the Western Foreland geological district that hosts the Kamoa - Kakula deposit and the Central Fold and Thrust Belt (" Fold Belt") in Northwest Zambia. The two licences cover a combined 107,000 hectares area covering ground in a highly prospective part of Northwest Zambia where competition for exploration licences is acute.

Licence 29123 - HQ - LEL is located to the west of the perceived boundary between the Western Foreland and Fold Belt and Licence 30459 - HQ - LEL is location coincident with the boundary and may also include part of the Fold Belt. Company believes there is scope for the discovery of potentially high-grade Kamoa-style mineralisation at depth and lower grade bulk tonnage at or near-surface. There has been limited exploration to date and initial fieldwork will commence in September on the two licences with a view to defining potential drill targets as soon as possible.