RCS - Atlas Metals Group - Update on Proposed Acquisition

Atlas MetalsAnnouncement

16/02/2026 07:00

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RNS Number : 0418T  Atlas Metals Group PLC  16 February 2026

16 February 2026

 

Atlas Metals Group plc

("Atlas Metals" or the "Company")

 

Update on Proposed Acquisition

Atlas Metals (LON: AMG), the natural resources and energy company is pleased
to provide an update on the Company's proposed acquisition of Universal
Pozzolanic Silica Alumina Ltd ("UPSA") (the "Proposed Acquisition").

As detailed in the Company's announcement on 22 December 2025, the Company
engaged SLR Consulting Australia Pty Ltd ("SLR"), to conduct a confirmatory
drilling campaign, commencing on Lots 7 and 8 at the Yammacoona Sand Quarry in
New South Wales, Australia, with the intention of proving a measured resource,
and a technical memorandum has been provided by SLR.  A total of 26
drillholes have now been completed using three drilling methods, diamond,
percussion and blast hole, for a total of 1,265 metres.

From the samples collected during the drilling programme Quantitative X-Ray
Diffraction (QXRD) and clay mineralogical analyses will be undertaken to
characterise material properties relevant to assessing pozzolanic potential.
Drill core pieces representing all lithological units were also selected for
petrographic examination and X-ray Fluorescence (XRF) analysis to document
mineralogical composition and textural features.

Initial volumes pending validation of drilling data, interpretation,
geological modelling and material test results within Lots 7 and 8 indicate
that the concept pit (see figure 1 below) covered by the areas of Lots 7 and 8
contains a total of 86.5 million tonnes of pozzolanic sandstone from a total
volume of 151.75 million tonnes of material. Whilst these initial volumes are
being assessed for resource status pending material testing and validation,
the purpose of the update is to increase confidence in the volumes towards
measured status. Volumes may vary based on further development of the
geological model and validation.

Atlas Metals is expecting SLR to complete the updated Competent Person's
Report ("CPR"), using data obtained from this drilling programme, which is
expected to include certain JORC resources being upgraded from the inferred to
measured category, prior to the completion of the Proposed Acquisition. The
last published CPR on the Yammacoona Sand Quarry, as announced by the Company
on 28 November 2025, may be found on the Company's website at:

https://atlasmetalsgroup.com/investors/reports
(https://atlasmetalsgroup.com/investors/reports)

The Proposed Acquisition continues to progress in line with the Board's
expectations and further announcements on the progress of the Proposed
Acquisition will be made when appropriate.

Figure 1 - Concept Pit Design, showing the locations of blocks 7 and 8 (from
SLR CPR 26 November 2025

Illustration: Recent SLR drilling on behalf of the Company at the Yammacoona
Sand Quarry in New South Wales, Australia

For further information, please contact:

 Atlas Metals Group plc:
 Christopher Chadwick  +44 (0) 20 7796 9060

 Strand Hanson - Financial Adviser and Sponsor:
 Rory Murphy           +44 (0) 20 7409 1761
 Abigail Wennington    +44 (0) 20 7409 1761
 Edward Foulkes        +44 (0) 20 7409 1761

 S I Capital Limited - Joint Broker:
 Nick Emerson          +44 (0) 14 8341 3500

 CMC Markets - Joint Broker:
 Douglas Crippen       +44 (0) 20 3003 8632

 Axis Capital Markets Limited - Joint Broker:
 Richard Hutchison     +44 (0) 20 3026 0320

 IFC Advisory Limited - Financial PR and IR:
 Tim Metcalfe          +44 (0) 20 3934 6632
 Graham Herring        +44 (0) 20 3934 6632

 

 

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