IMC Exploration Group Plc - Renewal of Mining Licence

THE DIRECTORS OF IMC EXPLORATION GROUP PLC CONSIDER THIS ANNOUNCEMENT TO CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO. 596/2014 OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (THE "MARKET ABUSE REGULATION"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 

 

 

IMC Exploration Group Public Limited Company

("IMC" or the "Company")

 

 

IMC Exploration Group Public Limited Company announces the successful renewal of its mining licence to Assat LLC, IMC's 100% owned subsidiary, for the Karaberd Mine, located in Lori Marz province, Republic of Armenia,

 

 

IMC is delighted to announce the renewal of its mining licence to Assat LLC, IMC's 100% owned subsidiary, for the Karaberd Mine, located in Lori Marz province Republic of Armenia.

 

The licence has been renewed for a period of 9 (nine) years until 1 st January 2035.

 

The renewed licence provides for underground extraction of 30,000 tons of ore per annum and a requirement to submit a reserve revaluation report to the authorized body two years after receiving the right to use the subsoil, which should also include the reserves available in the open pit.

Under the renewed Licence Assat LLC has a right to extract up to 1,274 kg of gold and 2,310 kg of silver.

 

The renewal was awarded by the Minister for Territorial Administration and Infrastructures of the Republic of Armenia by way of amendments to the original licence NO. t U@-29/366.

 

The extended tenure of the licence to 2035 secures the long-term future of the mine and enables the systematic extraction of the ore that will be processed to extract Gold and Silver.

 

Chairman, Eamon O'Brien commented "I am extremely pleased and happy for IMC, for our shareholders, including our major shareholder Mineral Ventures Invest s.r.o. and its CEO David Marasek who have provided steadfast support to IMC since the Karaberd mine acquisition, for our new Assat LLC CEO, Armand Pinarbasi, who along with our staff and corporate, legal and geological advisers achieved this major milestone.

 

  After IMC first achieved its full listing on the main market of the LSE, its first target acquisition was to acquire the Karaberd mine and while we have had lengthy and varied issues to navigate along the way, as explained in previous announcements, the renewal of the Karaberd mine licence could not have come at a better time when Gold and Silver have hit record prices per Oz having recently surpassed $5,000 Au and $100 Ag respectively.

 

The renewal that went through a very rigorous regulatory assessment, including through the Armenian Minister for Environment and four public hearings, also confirms the Company's good standing with the Armenian regulatory authorities".

 

Other Information

 

At this time, it is also worth noting that the Competent Persons Report update for the minerals deposit, dated 26th June 2023 for the Karaberd mine, as prepared by AMC Consultants of Perth, Australia for the purposes of assessing the approval by IMC shareholders of the Karaberd mine related acquisition, in October 2023, was set out as follows:

 

Mineral Resource Estimate Table showing Indicated and Inferred

 

 

Production

ASSAT LLC is currently finalising agreements in relation to ore enrichment and production of concentrate from its ore and then further processing of that concentrate to final 999 gold and silver products.   Updates will be provided on the finalisation of these agreements.

 

Armenian Stock Exchange Dual Listing

Armand Pinarbasi, the new IMC Board business development director

( https://www.imcexploration.com/corporate/board-of-directors ), commented  "following the successful renewal of the Karaberd Mining licence, and with the advantage of a current strong Gold and Silver price, IMC is now well placed to progress this added listing. This listing will enhance local liquidity and further strengthen the Company's standing within the Armenian capital markets".

 

 

Eamon P. O'Brien,

Executive Chairman,

Dublin, 26th January 2026

 

The Directors of IMC Exploration Group Public Limited Company, after due and careful enquiry, accept responsibility for the contents of this announcement.

REGULATORY ANNOUNCEMENT ENDS.

Enquiries

IMC Exploration Group plc

Eamon O'Brien
eamon.obrien@imcexploration.com
+353 87 6183024

Kathryn Byrne
+353 85 233 6033

Keith, Bayley, Rogers & Co. Limited

Stephen Clayson
stephen.clayson@kbrl.co.uk
+44 (0)7771 871 847

Brinsley Holman
brinsley.holman@kbrl.co.uk
+44 (0)7776 302 228

IFC Advisory Limited (Financial PR and IR)
Tim Metcalfe
Florence Chandler
+44 (0)203 934 6630