Blencowe Resources Ltd

Blencowe is currently in an advanced state of developing the world class Orom-Cross graphite project into production. Project is located in Uganda, East Africa. Currently at Definitive Feasibility Study (DFS) completion stage, with first production expected inside next 12-18 months. Estimated total graphite within full deposit circa 2-3 billion tonnes. Orom-Cross is a low operating cost, low capital (startup) cost mining operation. Extensive metallurgical testing, including bulk sample testing, has proven all 96% concentrates and 99.95% purified products ex-Orom-Cross to be some of the highest quality processed graphite worldwide. Blencowe has a 21-year mining license in place and it owns 100% of the project via its local subsidiary. Uganda is a safe, stable location to develop a long-term mining operation. Blencowe's differentiated strategy is to produce both concentrates and purified graphite within two separate processing facilities, one at the mine site (concentrates) and the other (purified SPG) approximately 150 kms away. A Joint Venture is underway with one of the most experienced SPG producers in the world, to provide expertise for this value-adding. US International Development Finance Corporation (DFC) provided a US$5 million grant to Blencowe to assist to complete the DFS and retains the first right to provide debt funding for the project implementation. Blencowe executive management has considerable experience developing projects through to production, and taking projects into early stage production.