THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY IMC EXPLORATION GROUP PLC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

FINAL RESULTS FOR THE YEAR 1^ST JULY 2019 TO 30^TH JUNE 2020

IMC Exploration Group Public Limited Company

Chairman’s Statement for the year ended 30^th June 2020

The Directors of IMC Exploration Group plc (“IMC” or the “Company”) are pleased to present the audited financial results for IMC for the twelve months to 30^th June 2020.  The consolidated financial statements appearing below (which do not form the full statutory Report and Accounts of the Company) are taken from the Directors’ Report and Financial Statements for the year ended 30^th June 2020 posted to shareholders, a copy of which is available from IMC’s website at https://www.imcexploration.com/.

During the year the CSA Global commissioned IMC Mineral Resource Estimate (‘MRE’) on our Avoca spoils and tailings project located in Co. Wicklow, Ireland was published. This JORC-compliant MRE report shows, inter alia, significant grades of extracted and crushed gold (1,871,000t at 0.3g/t Au), copper (1,871,000t at 0.14% Cu) and lead (1,871,000t at 0.42% Pb) in the spoil heaps on the East Avoca section of the site.

This MRE for our spoils and tailings project is significant, with the gold estimate alone at circa 20,000oz.  Furthermore, the Company has recently identified exploration targets at West Avoca where there is further potential to increase this estimate by up to 4,000oz gold within the Avoca area.  This additional work has commenced. 

IMC is also pleased to report there have been major developments in its North Wexford Gold Project which gives us immediate capacity and scope to accelerate our exploration programme here.  An initial review of historical exploration on the recently acquired PL 1200 in Co. Wexford is progressing, and is part of a group of three licences held by IMC that are underlain by the mineralized rhyolitic volcanic rocks of South East Leinster.  

Some years ago, RioFinEx drilled a gold-in-soil anomaly on PL 1200 and proved gold mineralisation hosted by highly altered rocks at a depth of 30m. Groove sampling of the drill core proved an intercepted grade of 0.5 g/t Au over 18.6m (weighted average over 3 to 3.6m intervals).  Half core sampling of part of the groove sampled interval assayed 15m at 0.2 g/t Au (weighted average of 1.5m intervals).  Although all the pertinent data is available for examination and extrapolation, IMC intends to drill further in this area in order to confirm and expand on the data available to the Company in accordance with the JORC Code (2012).

This aligns with IMC’s strategy of establishing a gold resource on its three North Wexford prospecting licences.  The additional licences in Wexford, along with the high gold grades already encountered on parts of the adjoining IMC licence PL 2551, gives the company the ability to action its exploration and geological work in this area.

During the year IMC entered into a collaboration with the Raw Materials Research Group at Trinity College Dublin. IMC’s Board believes access to this world-class micro-analytical facility is a tremendous advantage for IMC and its Avoca properties. We are now working with them on petrographic and microanalytical work on samples from IMC drill-holes targeting the gold-rich Kilmacoo zone. This strategic partnership has the potential significantly to enhance the gold resource at Avoca. 

Our strategy is clear.  We are focused on upgrading our spoils and tailings project at Avoca; gaining maximum advantage from our collaboration with Trinity College; and bringing our resources on our North Wexford gold project licence area to JORC-compliant standards. 

As you are no doubt aware the price of gold has recently reached an all-time high of over $2,000 per oz. This, and the exciting developments outlined above, represent an unprecedented time for gold and, in turn, your Company.

Eamon O’Brien,
Chairman

IMC Exploration Group Public Limited Company

Consolidated Statement of Comprehensive Income
for the year ended 30^th June 2020

Continuing Operations                                                                                                   

All activities derived from continuing operations. All losses and total comprehensive losses for the period are attributable to the owners of the Company.

The Company has no recognised gains or losses other than those dealt with in the statement of comprehensive income.

The Financial statements were approved by the Board of Directors on 29^th October 2020 and signed on its behalf by:

On behalf of the board
Eamon O’Brien                                                         Andrew Laz Fleming
Director                                                                     Director          

IMC Exploration Group Public Limited Company

Consolidated Statement of Financial Position
for the year ended 30^th June 2020

The Financial statements were approved by the Board of Directors on 29^th October 2020 and signed on its behalf by:

On behalf of the board
Eamon O’Brien                                                               Andrew Laz Fleming
Director                                                                           Director

IMC Exploration Group Public Limited Company

Consolidated Statement of Changes in Equity
for the year ended 30^th June 2020

Net equity is attributable to the holder of the ordinary shares in the Group.

The financial statements were approved by the board of Directors on 29^th October 2020 and signed on its behalf by:

On behalf of the board
Eamon O’Brien                                                    Andrew Laz Fleming
Director                                                               Director

IMC Exploration Group Public Limited Company

Consolidated Statement of Cash Flows
for the year ended 30^th June 2020

The financial statements were approved by the Board of Directors on 29^th October 2020 and signed on its behalf by:

On behalf of the board
Eamon O’Brien                                                           Andrew Laz Fleming
Director                                                                       Director

The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.

REGULATORY ANNOUNCEMENT ENDS.

Contact Details:

Keith, Bayley, Rogers & Co. Limited
Graham Atthill-Beck: +44 20 7464 4091 / +44 7506 43 41 07 / Graham.Atthill-Beck@kbrl.co.uk; blackpearladvisers@gmail.com 
Brinsley Holman: +44 20 7464 4098 / +44 7776 30 22 28 / Brinsley.Holman@kbrl.co.uk

IMC Exploration Group plc
Kathryn Byrne: +353 85 233 6033