ALBA MINERAL RESOURCES PLC

Business and Financial Review • Mar 21, 2019

National Storage Mechanism | Additional information

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RNS Number : 6113T

Alba Mineral Resources PLC

21 March 2019

Alba Mineral Resources plc

("Alba" or "the Company")

Brockham Update

Alba Mineral Resources plc (AIM: Alba), the diversified mineral exploration and development company, announces that Angus Energy Plc, the operator of the Brockham Oil Field under Production Licence ("PL") 235 ("Angus" or the "Operator"), has informed the Company that it has entered into a rig contract with P.W. Well Services Limited to complete the forthcoming work over operations at Brockham.  Rig mobilization is anticipated for mid-April and operating day rates are fixed for this intervention.  The rig crew are all experienced onshore personnel meeting the Company's strict competency requirements.

Alba owns a direct 5 per cent interest in PL 235.

For further information, please contact: 

Alba Mineral Resources plc

George Frangeskides, Executive Chairman                        +44 20 7264 4366

Cairn Financial Advisers LLP (Nomad)     

James Caithie / Liam Murray                                            +44 20 7213 0880

First Equity Limited (Broker)

Jason Robertson                                                             +44 20 7374 2212

Yellow Jersey PR (Financial PR/ IR)

Tim Thompson / Harriet Jackson / Henry Wilkinson            +44 77 1071 8649

alba@yellowjerseypr.com

Alba's Project & Investment Portfolio

Mining

Amitsoq (Graphite, Greenland): Alba owns a 90 per cent interest in the Amitsoq Graphite Project in Southern Greenland and has an option over the remaining 10 per cent.

Clogau (Gold, Wales): Alba owns a 90 per cent interest in Gold Mines of Wales Limited ("GMOW"), the ultimate owner of the Clogau Gold project situated in the Dolgellau Gold Belt in Wales.

Inglefield Land (Copper, Cobalt, Gold): Alba owns 100 per cent of mineral exploration licence ("MEL") 2017/40 and 2018/25 in north-west Greenland.

Limerick (Base Metals, Ireland): Alba owns 100 per cent of the Limerick base metal project in the Republic of Ireland.

Melville Bay (Iron Ore, Greenland): Alba is entitled to a 51 per cent interest in MEL 2017/41 in Melville Bay, north-west Greenland. The licence area benefits from an existing inferred JORC resource of 67 Mt @ 31.4% Fe.

Thule Black Sands (Ilmenite, Greenland): Alba owns 100 per cent of MEL 2017/29 in the Thule region, north-west Greenland.

Oil & Gas

Brockham (Oil & Gas, UK): Alba has a direct 5 per cent interest in Production Licence 235, which comprises the previously producing onshore Brockham Oil Field.

Horse Hill (Oil & Gas, UK): Alba holds an 11.765 per cent effective interest in the Horse Hill oil and gas project (licences PEDL 137 and PEDL 246 covering a total area of 142.9 km²) in the UK Weald Basin.

Web: www.albamineralresources.com

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