Solidcore Resources plc ("Solidcore" or the "Company") and the Main Department of Geology under the Government of the Republic of Tajikistan have signed a memorandum of cooperation in the field of geology and mineral exploration (the “Memorandum”). The parties intend to jointly undertake geological exploration activities in Tajikistan, with a view to identifying, exploring and evaluating precious and polymetallic mineral deposits.

"Tajikistan has significant geological potential, and we value the opportunity to develop and strengthen it together with the Main Department of Geology. For Solidcore, geological exploration is a cornerstone of long-term development strategy, and working together with the relevant government authority allows us to combine unique knowledge of the country's resources with our expertise and modern technologies. We are looking forward to an open and mutually beneficial dialogue. Our recently established subsidiary, Solidcore Tajikistan, will serve as the operational platform for building relationships with government agencies and partners in the country", noted Vitaly Nesis, Chief Executive Officer of Solidcore Resources.

The Memorandum outlines several areas of cooperation:

• the joint geological study of Tajikistan’s subsurface to identify and evaluate promising precious and polymetallic ore deposits;
• the exchange of information and collaborative work with historical geological data;
• the exchange of best practices and advanced technologies for processing and interpreting geological data;
• and mutual assistance in the joint training and professional development of specialists in exploration and reserve evaluation in accordance with international standards.

The cooperation will be based on the principles of good faith, transparency, and equality of interests of the parties. In order to implement the objectives of the Memorandum, the parties will establish a joint working group to determine the future framework and specific projects for cooperation. The results of the joint work may provide a basis for the creation of new ventures in Tajikistan. The terms governing the implementation of individual projects, including financing arrangements, will be determined by the parties in separate agreements, subject to the approval of the relevant projects.

The Memorandum will remain in effect for a period of five years and will serve as a framework agreement, and not create legal or financial obligations for either party.

About Solidcore

Solidcore Resources is a leading gold producer registered in AIFC, Kazakhstan, and listed on AIX. Solidcore operates two producing gold mines in Kazakhstan and is developing two growth projects: Ertis POX, a state-of-the-art gold concentrate processing hub, and Syrymbet, one of the largest undeveloped tin deposits globally. The Company is also pursuing greenfield exploration projects in Oman and Japan.

About the Main Department of Geology under the Government of the Republic of Tajikistan

The Main Department of Geology under the Government of the Republic of Tajikistan is the central executive body responsible for implementing state policy, managing and coordinating activities in geological exploration and the rational use of the subsurface, reproducing mineral resource capacities, and managing the state repository of geological information on the subsurface of the Republic of Tajikistan.

Enquiries

FORWARD-LOOKING STATEMENTS

This release may include statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements speak only as at the date of this release. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “targets”, “believes”, “expects”, “aims”, “intends”, “will”, “may”, “anticipates”, “would”, “could” or “should” or similar expressions or, in each case their negative or other variations or by discussion of strategies, plans, objectives, goals, future events or intentions. These forward-looking statements all include matters that are not historical facts. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the company’s control that could cause the actual results, performance or achievements of the company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the company’s present and future business strategies and the environment in which the company will operate in the future. Forward-looking statements are not guarantees of future performance. There are many factors that could cause the company’s actual results, performance or achievements to differ materially from those expressed in such forward-looking statements. The company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.