RNS Number : 0597P

Goldplat plc

16 June 2022

G ol dp lat plc / Ti cker: GDP / Index: AIM / Secto r: M in i ng & E x p l o rati on

16 June 2022

Goldplat plc

( 'Goldplat', t he 'Group' or 'the Company ')

Grant of Water Use License

Goldplat plc, the AIM listed gold producer, with international gold recovery operations located in South Africa and Ghana, is pleased to announce the grant of its Water Use License in South Africa.

The Department of Water and Sanitation of the Republic of South Africa has authorised the water use by Goldplat Recovery (Pty) Limited (a subsidiary of the Group in South Africa), which includes the abstraction and use of water in its recovery processes and the impact of its disposal of tailings on a new tailings' storage facility ("TSF"), according to the conditions set out in the license, which is valid for 12 years.

The new TSF, which is adjacent to the current TSF, will be constructed over the next four months at a remaining cost of GBP350,000. The new TSF is expected to have sufficient capacity to store the tailings we will produce in our current operations for the next seven years.

The new TSF will also allow us to divert all deposition from the current facility, which will provide us with the ability of processing the current facility to recover the JORC resource of an estimated 81,959 ounces of gold (Table 1) through a third-party facility. To enable us to process the current TSF through a third-party facility, we will require approval to install a pipeline to this third-party processing facility and will need to finalise commercial agreements with the third-party. We expect to receive this approval by the end of the current calendar year.

Werner Klingenberg, CEO of Goldplat commented: "I want to congratulate and thank the whole team that have been involved in ensuring we develop the necessary water use management plan and work with authorities to get the water use license authorised, and I am extremely pleased with the authorisation received. The license is not just the first step towards the processing of our current TSF, but an integral part to our South African operation to deliver on our future plans. The water use management plan will also ensure good governance in regards with water use and its impact on the surroundings.

For further i n fo rmat i on v i s it www .g o ld p lat.com, f o l l ow on Twitter @GoldPlatGDP or contact:

 Werner Klingenberg            Goldplat plc               Tel: +27 (0) 82 051 1071 
 Colin Aaronson / George       Grant Thornton UK LLP      Tel: +44 (0) 20 7383 
  Grainger / Samuel Littler     (Nominated Adviser)        5100 
 Jessica Cave / Andrew         WH Ireland Limited         Tel: +44 (0) 207 220 
  de Andrade                    (Broker)                   1666 
 Tim Thompson / Mark Edwards   Flagstaff Strategic and    Tel: +44 (0) 207 129 
  / Fergus Mellon               Investor Communications    1474 

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Table 1

Mineral Resource Estimate of the Tailings Storage Facility, South Africa

                                                    Total Resource 
 Domain         Class        Tonnes        Density   Au (g/t)   Au (Oz)   U(3) O(8)    U(3) O(8)    Ag (g/t)   Ag (Oz) 
                             (Mil)                                        (g/t)        (lbs) 
               -----------  ------------  --------  ---------  --------  -----------  -----------  ---------  -------- 
  RESOURCE      Measured        0.87        1.32       1.82     50,907      61.41       117,754       4.85     135,573 
               -----------  ------------  --------  ---------  --------  -----------  -----------  ---------  -------- 
  Indicated                     0.49        1.37       1.77     27,897      59.73        64,506       4.71     74,165 
 -------------------------  ------------  --------  ---------  --------  -----------  -----------  ---------  -------- 
  Inferred                      0.07        1.30       1.4       3,154      71.40        11,016       2.82      6,356 
 -------------------------  ------------  --------  ---------  --------  -----------  -----------  ---------  -------- 
 Grand Total                    1.43        1.34       1.78     81,959      61.32       193,276       4.70     216,094 
                            ------------  --------  ---------  --------  -----------  -----------  ---------  -------- 

The Tailings Mineral Resource Estimate was announced in accordance with the JORC Code (2012) in a press release on 29 January 2016. Mark Austin of Applied Geology & Mining (Pty) Ltd. was the Competent Person responsible for that announcement. The Company confirms that all material assumption and technical parameters underpinning the Resource Estimate continue to apply and have not materially changed.

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(END) Dow Jones Newswires

June 16, 2022 02:00 ET (06:00 GMT)

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