Accudo Agreement Update

 29 August 2018

Alexander Mining plc

("Alexander" or "the Company")

Accudo Agreement Update

The Company has received an update from Accudo Metals Pty Ltd. ("Accudo") regarding its agreement with the owners of the copper tenements and assets in Australia (the "Project").  The Project is being assessed as the first project in accordance with the technology licence agreement (the "Agreement") with Alexander for the potential use of the Company's AmmLeach® technology. 

Accudo's Chairman, Dr. Saliba Sassine, has advised Alexander that: "Its concerted efforts on the Project financing have stalled despite having obtained conditional debt terms for 60 per cent. of the acquisition and working capital value of the desired transaction.  The main impediment in completing financing arrangements has been the prevailing weakness in the base metals and mining sectors, rather than principally due to new and innovative technology aspects".

Alexander's CEO, Martin Rosser, said that: "Naturally we are disappointed with this news but will continue to work closely with Accudo on supporting its initiatives wherever possible and, of course, in its efforts regarding any other opportunities which it may look to progress under the Agreement".

ENDS

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