Alba Mineral Resources – 2025 Year-End Review and 2026 Outlook

As 2025 draws to a close, we’re proud to look back on a year of progress across Alba’s project portfolio. From new drilling campaigns to deeper industry engagement, this year helped position Alba more firmly within the UK critical minerals ecosystem while we continued advancing our Welsh gold interests.

Greenland | Rare Earth Elements (REE)
In southern Greenland, we advanced exploration across both the Motzfeldt and Aries zones. The summer programme confirmed enriched REE-Nb-Ta-Zr mineralisation in surface veins and identified a deeper target for future follow-up. A ~300 kg bulk sample was collected from Aries for metallurgical testwork now underway in South Africa, and we completed a hyperspectral drone survey in collaboration with the University of St Andrews. These efforts have significantly strengthened our geologic model and will guide the next phase of work in 2026.

Wales | Clogau Gold

December saw the resumption of underground drilling and blasting at our Clogau-St David’s Gold Mine in North Wales. This is a key step as we seek to determine whether there is sufficient grade in the primary Llechfraith target to underpin future development. First blasting operations were successfully carried out, with the processing plant operating over the Christmas period and blasting set to continue again from early January.

Sweden | Finnsbo

In Q4 we carried out a maiden drill programme at the Finnsbo copper-gold-rare earths project. Drilling began in late October following receipt of all permits and land access agreements. The campaign targeted previously defined high-grade anomalies and will provide key data to shape next steps in 2026.

GreenRoc Strategic Materials (Investee Company)

As a significant shareholder (~26%), we welcomed key milestones being achieved at GreenRoc this year. Greenland authorities approved a 30-year mining licence for the Amitsoq Graphite Project, and GreenRoc secured a €5.2M facility from a Danish public fund to support further development. These developments reinforce the strategic importance of Greenland in the critical minerals supply chain and bode well for Alba's future development of the Motzfeldt Critical Metals Project.

Engagement & Industry Recognition
Our Principal Geologist, Dr Curtis Rooks, has been invited to present at the upcoming MDSG 2026 conference in Cardiff, highlighting Alba’s growing technical expertise in the rare earth sector.

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As we move into 2026, Alba remains focused on delivering results, progressing our work programmes, and continuing to build long-term value across our portfolio.

To our shareholders, partners and stakeholders, thank you for your continued support. Wishing you a peaceful festive season and a strong start to the New Year.

– George Frangeskides, Executive Chairman