TIDMGCAT

RNS Number : 5178G

Caracal Gold PLC

19 July 2023

Caracal Gold plc

('Caracal' or the 'Company')

Resignation of Non-Executive Director

Caracal Gold plc, the expanding East African gold producer with over 1,300,000oz JORC-compliant gold resources, announces that Non-Executive Director, Rachel Johnston, has informed management of their resignation to pursue other opportunities.

The Caracal Board thanks Rachel for her time at the Company and wishes her the best with the next step in her career.

The Board are exploring a suitable replacement to Rachel and will announce this in due course.

 
 Caracal Gold plc                       robbie@kilimapesa.com 
  Robbie McCrae 
 VSA Capital Limited 
  Financial Adviser and Joint Broker 
  Andrew Raca (Corporate Finance)       +44 203 005 5000 
                                       ---------------------- 
 DGWA, the German Institute for         info@dgwa.org 
  Asset and 
  Equity Allocation and Valuation 
  European Investor and Corporate 
  Relations Advisor 
  Katharina Löckinger 
                                       ----------------------

Notes:

Caracal Gold plc is an expanding East African focused gold producer with a clear path to grow production and resources both organically and through strategic acquisitions. Its aim is to rapidly increase production to +50,000ozs p.a. and build a JORC compliant resource base of +3Moz. The company is progressing a well-defined mine optimisation strategy at its 100% owned Kilimapesa Gold Mine in Kenya, where there is significant mid-term expansion potential and the ability to increase gold production to 24,000oz p.a. and the resource to +2Moz (current JORC compliant resources of approx. 706,000oz). Alongside this, Caracal is undertaking a targeted exploration programme at the Nyakafuru Project in Tanzania, which has an established high-grade shallow gold resource of 658,751oz at 2.08g/t contained within four deposits over 280 km2 and appears amenable to development as a large scale conventional open pit operation.

Caracal's experienced team has a proven track record in successfully developing and operating mining projects throughout Africa.

The Company is a responsible mining and exploration company and supports the positive social and economic change that it contributes to the communities in the regions that it operates. It is a proudly East African-focused company: it buys locally, employs locally, and protects the environment and its employees and their families' health, safety, and wellbeing.

Caracal's shares are quoted on the Main Market of the London Stock Exchange (LON: GCAT) and on the Frankfurt Stock Exchange (FSE: 6IK). The Company is also in the process of listing on the Nairobi Securities Exchange.

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END

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July 19, 2023 04:29 ET (08:29 GMT)

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