Oscillate Plc - JV Partnership with La Miniere de L'Elephant

Oscillate PLC

("Oscillate" or the "Company")

30 April 2025

JV Partnership with La Miniere de L'Elephant

The Company is pleased to announce that it has entered into a non-binding Heads of Terms ("HoTs") forming a Joint Venture Partnership and earn-in agreement with La Miniere de L'Elephant SARL ("Laminele", together the "JV Partnership") to develop the Duékoué Prospect ("Duékoué"), a copper-molybdenum-gold ("Cu-Mo-Au") prospect located in the District des Montagnes in western Côte d'Ivoire.

The Duékoué Project:

The Duékoué Prospect was identified in the 1970s by the Société pour le Développement Minier de la Côte d'Ivoire ("SODEMI") which noted a high molybdenum-in-soil value (300 ppm). Further considerable soil sampling and geological mapping confirmed the potential of the area to host molybdenum-copper mineralisation. SODEMI also carried out limited geophysics which added to the potential.

The molybdenum-copper prospect on the north-western flank of the Duékoué granitoid intrusion was originally identified in the work carried out in the 1960s and 1970s by SODEMI, the national geological survey of Côte d'Ivoire. Initial reconnaissance soil sampling and geological mapping provided the evidence for the mineralisation. Extensive and intensive soil sampling programmes over several field seasons, involving several thousand samples, covered an area in excess of some 25 square kilometres and significant molybdenum and copper-in soil anomalies were delineated.  

There are multiple mineralisation models theorised utilising the SODEMI data, including Iron Oxide Copper Gold ("IOCG"), and a porphyry copper-molybdenum model, with further exploration needed to fully understand the geology.

The main target area is an arcuate Mo-in-soil anomaly extending some 3.2 kilometres with highly anomalous values exceeding 1000 ppm Mo in places associated with copper values in the 250-300 ppm Cu range. 

Interestingly, the anomalous copper-in-soils anomaly continues on from the molybdenum anomaly to form an approximately circular pattern with a diameter of some 2.5 kilometres. There are indications of some associated molybdenum on the southern flank of the anomaly as well. This apparent structure is in itself of considerable interest and may indicate a mineralised intrusive body. 

SODEMI also carried out some ground geophysics (magnetics and induced polarisation) which tend to support the provisional interpretation. Limited pitting and trenching was also carried out and highly anomalous molybdenum values - over 0.5% Mo - were shown. 

An exploration programme involving geological mapping, ground-truthing of the SODEMI work with modern techniques is planned, followed by some ground geophysics, pitting/trenching, and eventually, drilling. 

Oscillate CEO, Robin Birchall, commented:

"We are extremely pleased to be entering into partnership with Laminele to advance the Duékoué Prospect in Cote d'Ivoire. While Duékoué is an early stage exploration play, the available data indicates elevated copper and molybdenum, and the interpretation of the data we have available leads us to believe that this is a very exciting opportunity for Oscillate as we continue to advance our copper and base metals strategy.

I look forward to keeping our shareholders and the market appraised of the progress we make on all of our strategic goals."

Terms

Oscillate has been offered a six-month exclusivity period to complete due diligence during which the parties will seek to agree and enter into final binding Duékoué JV Partnership documentation ("Exclusivity Period"). In return for entering into these HoTs, the Company has committed to pay a non-refundable amount of USD$100,000 in cash ("Signing Fee").

Through the terms of an earn-in agreement to be entered into during the Exclusivity Period, and subject to due diligence, Oscillate will commit funding to advance exploration and development at Duékoué.

Upon payment of the Signing Fee, the Company will enter into a Phase 1 earn-in period ("Earn-in Period") whereby the Company will have 36 months to exercise the right, subject to agreeing documentation, to acquire a 100% ownership of the interest in the license in consideration for the payment of the Phase 1 Milestone Payment, being $1,000,000 (the "Milestone Payment") and a fee of US2.5 cents per lb of copper or equivalent defined as measured or indicated resources by an independent Competent Person in a Competent Persons Report published by the Company and the grant of a 0.5% NSR (subject to a buy back right).

As part of the Phase 1 Earn-in Period, the Company has agreed to fund up to USD$650,000 exploration expenditure from the commencement and duration of the Earn-in Period, including annual payments of USD$50,000 towards the JV Partnership's administrative expenses.

Related Party Transaction

Max Denning, Non-Executive Director of the Company, owns 15% Laminele and therefore the JV Partnership constitutes a related party transaction pursuant to the Aquis Growth Market Access Rulebook. Having considered the terms of the JV Partnership, and having exercised reasonable care, skill and diligence, John Treacy, the independent Non-Executive Director for the purpose of the terms of the JV Partnership, considers that Max's participation is fair and reasonable insofar as the shareholders of the Company are concerned.

Oscillate Strategy:

With the support of the board and key shareholders in the Company, Oscillate continues to advance the next phase of its development. The Company is focussed on creating a portfolio of exceptional base metals exploration and development projects with particular emphasis on copper and key metals for the energy transition, in order to build significant shareholder value. In addition to this, it is the Company's intention to use these assets to graduate to a more senior market or Stock Exchange to allow the Company better access to capital going forward and to give shareholders access to better liquidity.

The Directors of the Company accept responsibility for the contents of this announcement.

Enquiries:

Company

Oscillate PLC

John Treacy

https://oscillateplc.com

Robin Birchall, CEO

robinbirchall@oscillateplc.com

Telephone: + 44 (0) 7711 313 019

Corporate Adviser

Peterhouse Capital Limited

Telephone: 020 7220 9795

Oscillate plc OSCILLATE PLC is an investment issuer listed on the Aquis Growth Market Stock Exchange with the ticker AQSE: MUSH.

Oscillate is focussed on advancing exploration and development-stage strategic metals opportunities to deliver compelling and long-term value for shareholders.