Oscillate Plc – Successful renewal of four Prospecting Licences in Botswana

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 LOCATION Expiry Area comments
Number Date (km2)
PL082/2 KCB 31 106.23 On strike to Cobre Limited’s Ngami project.
020 March Field work completed late 2025 (see
2028 announcement dated 23 December 2026) and
results due Q1 2026.
PL231/2 KCB 31 73.25 Field work completed late 2025 (see
018 March announcement dated 23 December 2026) and
2028 results due Q1 2026.
PL232/2 KCB 31 45.77 This licence is the Company’s top
018 March exploration target in the KCB. It has seen
2028 historic exploration from Kalahari Copper
and is on strike to MMG Limited’s («MMG»)
Khoemacau operation.
PL085/2 Bushman 31 49.19 Adjacent to the Kopano copper mine.
020 Lineament March
2028

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.

[image]

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 Company Robin + 44 (0) 7711 313 019
Plc/Serval Birchall
Resources [email protected]
IR Cathy +44 (0) 7876 796 629
Malins
[email protected]
Tavistock PR Charles +44 (0) 20 7920 3150
Communications Vivian

Eliza
Logan
AlbR Capital Aquis Guy +44 (0) 20 7469 0930
Limited Corporate Miller
Adviser
SP Angel Broker Richard +44 (0) 20 3470 0470
Morrision

Charlie
Bouverat

Devik
Mehta

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 AIMin2026.

Forfurther information, visit:

· https://servalresources.com/

· https://x.com/ServalResources

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

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