Oscillate Plc - Successful renewal of four Prospecting Licences in Botswana

Oscillate Plc - Successful renewal of four Prospecting Licences in Botswana

PR Newswire

LONDON, United Kingdom, March 09

Oscillate PLC

("Oscillate" or the "Company")

9 March 2026

Successful renewal of four Prospecting Licences in Botswana

Highlights

• Four Prospecting Licences ("PL") successfully renewed for another two years (three in the Kalahari Copper Belt ("KCB") and one in the Bushman Lineament)
• The Kalahari Copper Limited ("KCL") land package in the KCB is confirmed as 16 licences covering a total area of 1,224.50 km2 and will be wholly owned by the Company upon completion of the KCL acquisition and admission to AIM

The Company announces that it has, with approval from KCL, applied to the Botswana Department of Mines, and renewal has been granted for four prospecting licences ("PLs"), as set out in the table below.

PL Number	LOCATION	Expiry Date	Area (km2)	comments
PL082/2020	KCB	31 March 2028	106.23	On strike to Cobre Limited's Ngami project. Field work completed late 2025 (see announcement dated 23 December 2026) and results due Q1 2026.
PL231/2018	KCB	31 March 2028	73.25	Field work completed late 2025 (see announcement dated 23 December 2026) and results due Q1 2026.
PL232/2018	KCB	31 March 2028	45.77	This licence is the Company's top exploration target in the KCB. It has seen historic exploration from Kalahari Copper and is on strike to MMG Limited's ("MMG") Khoemacau operation.
PL085/2020	Bushman Lineament	31 March 2028	49.19	Adjacent to the Kopano copper mine.

CEO, Robin Birchall, commented:

"I am delighted to report the successful renewal of these licences, including PL232/2018 which is our highest priority target and on strike to MMG's Khoemacau producing mine. The Company is committed to maintain their Prospecting Licences in good standing and to advance exploration on our high priority targets. This successful renewal once again showcases the efficiency of the responsible authorities in Botswana, and we would like to thank our team for their hard work, as well as the prospecting licences department for their care and diligence on the reviews and recommendations to this application process."

The four licences are held by Dalsu Investment Proprietary Limited, a wholly owned subsidiary of KCL ("Dalsu"). As announced on 9 February 2026, the Company has entered into a conditional share purchase agreement to acquire all the shares in KCL ("Acquisition") which includes the licences held by KCL's subsidiaries in Namibia and Botswana.

Figure 1: Location and areas of all current active licences for the Company; PL085/2020 is located in the inset map, towards the east of the country, adjacent to the Kopano copper mine.

Future work proposed includes ground geophysics and soil sampling, with the specific aim to identify drilling targets that will intersect the Ngwako Pan and D'Kar Formation contact, being the target horizon for significant sediment-hosted copper-silver mineralisation in the KCB.

The Directors of the Company accept responsibility for the contents of this announcement.

Enquiries:

Oscillate Plc/Serval Resources	Company	Robin Birchall	+ 44 (0) 7711 313 019 [e-mail]
	IR	Cathy Malins	[phone] [e-mail]
Tavistock Communications	PR	Charles Vivian Eliza Logan	[phone]
AlbR Capital Limited	Aquis Corporate Adviser	Guy Miller	[phone]
SP Angel	Broker	Richard Morrision Charlie Bouverat Devik Mehta	[phone]

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED.

About Serval Resources

Serval Resources is focused on unlocking value across a high-potential portfolio to become a leading mid-cap copper and future metals explorer and developer.

By securing exploration and development assets in the upcoming copper belts of Namibia, Botswana and Côte d'Ivoire, the Company will be strategically positioned to capitalise on the rising demand for sustainable copper and associated metals, driven by the global energy transition and the need for responsible, independent supply chains.

These regions remain relatively under-explored in contrast to their high potential. Serval will look to apply modern and rigorous exploration techniques, as well as the depth of experience of its management team, in order to systematically evaluate, secure and develop prospective opportunities to the benefit of all its stakeholders.

Serval Resources is a brand operated by Oscillate PLC, which is listed on the UK's AQSE Growth Market Exchange under the ticker AQSE: SRVL. The Company will officially change its name to Serval Resources upon moving up to AIM in 2026.

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For further information, visit:

• https://servalresources.com/

• https://x.com/ServalResources

• https://www.linkedin.com/company/serval-resources/

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