Serval Resources Plc - Results from Geophysical Surveys on PL082 and PL231 in the Kalahari Copper Belt, Botswana

Serval Resources Plc - Results from Geophysical Surveys on PL082 and PL231 in the Kalahari Copper Belt, Botswana

PR Newswire

LONDON, United Kingdom, May 15

15 May 2026

Serval Resources Plc

("Serval" or the "Company")

Results from Geophysical Surveys on PL082 and PL231

in the Kalahari Copper Belt, Botswana

Serval Resources Plc (AIM: SRVL), a company focused on building an independent copper and future metals developer, is pleased to announce the results of its first geophysics programmes completed on Licence PL082/2020 ("PL082") and PL231/2018 ("PL231") in the Kalahari Copper Belt ("KCB"), Botswana. This region is considered one of the most prospective areas in the world for new sedimentary copper discoveries (source: US Geological Survey).

Serval has identified the utilisation of a combination of geophysical techniques as being key to exploration success in the KCB, where the geology of the underlying copper mineralisation is overlain by sand cover of varying depths.

Highlights

• The surveys utilised a combination of three geophysical methods to provide insight into the thickness of the sand cover overlying the target Kalahari Copperbelt units known to hold copper-silver mineralisation, as well as to confirm the efficacy of the exploration approach to identify the target structures
• PL082 (on strike to Cobre Limited's Ngami project): interpretation of results indicates that underlying KCB geology can be observed through the Karoo volcanic sequences, as well as clear areas of more conductive and more resistive units, being possible indications of the target Ngwako pan and D'Kar formation contact; these zones will be the focus of future exploration efforts
• PL231: identification of an interpreted anticlinal structure where the Company will focus future exploration efforts, plus an indication of the variation in depth of sand cover to bedrock across the licence area, which will greatly assist decision making for the Company in using soil geochemistry as an exploration tool

CEO, Robin Birchall, commented:

"I am very pleased with the speed at which our team has completed these first geophysical programmes in the KCB, in accordance with the work requirements of our licences, and analysed the results. This limited amount of work has provided the Company with valuable information about the exploration methodology required for exploration success in the KCB, and possible targets on these two licence areas. The Company will utilise the funds raised as part of the recent listing on AIM to move forward with the exploration programmes in order to generate drill ready targets in due course."

About the Geophysical Surveys

The surveys consisted of two blocks in PL082 and PL231 respectively. Each area was surveyed with ground-based magnetics, time domain electromagnetic ("TDEM") and Audio-Magnetotellurics ("AMT"). Ground magnetics and TDEM were completed along a total of 67.5 line-kilometres and a total of 299 stations for AMT.

The aim of the programmes is to:

1) provide insight into the thickness of the sand cover overlying the target KCB units known as the D'Kar, Ngwako Pan, and potentially Mamuno Formation;

2) serve as an orientation type survey, to establish which geophysical method, or combination of methods, is best suited for identifying target horizons and/or structures that could host mineralisation; and

3) assess the accuracy and improved results versus regional data for eventual drill hole targeting.

Figure 1: Location of the Company's licences in the KCB

PL082

PL082 is a priority target for Serval as it is directly adjacent and on strike to Cobre Limited's Ngami Project, which is a significant and growing copper-silver deposit that has been delineated using a combination of geophysical techniques and fieldwork, followed by extensive drilling. This is the exploration model that the Company aims to follow at its KCB licences.

Existing regional data from the Botswana Geoscience Institute had indicated that exploration for this area would be complicated due to the presence of Karoo volcanic sequences, as well as traditional sand cover. Based on Serval's interpretation of structures using the ground magnetic data, the TDEM data as well as the AMT apparent resistivity data, results indicate that the underlying KCB geology can be observed through the Karoo volcanic sequences. AMT phase tensor data also confirms the trends of structure identified from the magnetic and TDEM data. The overburden and the cover sequences in this area are, as expected, much more resistive and therefore depth to bedrock analysis is inaccurate at present.

TDEM data indicates clear areas of more conductive and more resistive units, known in the KCB as possible indications of the target Ngwako pan and D'Kar formation contact. These zones will be the focus of future exploration efforts for the Company in these licences.

Figure 2: Structures below the cover sequences interpreted from the magnetic and TDEM data.

Figure 3: Areas of low and high resistivity as identified with TDEM.

PL231

PL231 is located to the west of the licence package, on the border with Namibia.

An important interpretation from the AMT data, is an anticlinal structure in the northern part of the licence. Anticlinal structures that interact with the target horizon are known structural traps for mineralisation in the KCB and this feature will be the focus for follow up exploration in this area.

The survey also provided the Company with valuable information about the efficacy of the exploration approach in the KCB. Total Magnetic Intensity, Reduced to Pole, ground magnetic data indicated that features previously identified from the regional airborne magnetic data are defined in much more detail, as well as being shifted by about 100 metres towards the south. The ground magnetic result thereby confirms to the Company that more extensive ground based magnetic field work will more accurately define the underlying KCB geology.

Furthermore, depth to bedrock (thickness of Kalahari sand cover) was interpreted using a combination of TDEM and AMT inversion models and is interpreted to be increasing in depth from about 20 metres in the north to about 90 metres in the south of the licence area. Magnetic lineaments and structures were inferred from the ground based magnetic data. Conductive elements were inferred from the TDEM data and apparent resistivity from the AMT. Generally, the three datasets complement each other well.

Figure 4: Overburden thickness interpreted using TDEM and MT inversion models.

Figure 5: Structures inferred using the reduced to pole TMI

Enquiries:

Serval Resources Robin Birchall Cathy Malins	[e-mail] [phone] [e-mail] [phone]
SP Angel (Nominated Advisor and Joint Broker) David Hignell Charlie Bouverat Devik Mehta	[phone]
AlbR Capital Limited (Joint Broker) Lucy Williams Duncan Vasey	[phone]
Tavistock Communications (PR) Charles Vivian Eliza Logan	[phone] [e-mail]

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 ResourcesH

Serval Resources Plc (AIM: SRVL) is an AIM-listed explorer focused on copper and associated future metals critical to the global energy transition and digital economy. The company is building a portfolio of exploration and development assets in the emerging copper belts of Namibia, Botswana and Côte d'Ivoire, aiming to become a leading mid-cap player by applying modern, systematic exploration techniques in underexplored but highly prospective African regions.

For further information, visit:

• https://servalresources.com/

• https://x.com/ServalResources

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