Anglesey Mining plc provided an update on progress at the Company's Parys Mountain Cu-Zn-Pb-Ag-Au project located on the Isle of Anglesey. The Company confirms it has engaged the ground engineering technical services company Central Alliance ("CA") to conduct a Proof-of-Concept study ("PoC") on the use of Muon Tomography as an exploratory tool to identify new resources and assist with the delineation of existing zones of mineralisation at Parys Mountain. Muon Tomography is a technique that measures naturally generated subatomic particles, called muons, from which it creates an image of the subsurface through density differentials (f further details on the technique are included in the Appendix to this announcement).

The process is analogous to medical x-ray imaging. Muon Tomography has previously been used to deliver accurate spatial representation of metallic ore bodies and generate extensive drilling targets over large detection areas, as demonstrated in the following paper. At Parys Mountain, this process should enable much more focused drilling programmes and could potentially save drilling costs and time.

Muon sensors will be deployed by CA in stages down the 300m deep Morris Shaft at the Parys Mountain mine, with the acquired muon data subsequently analysed offsite. The Morris Shaft location will enable CA to conduct an orientation survey with the known White Rock and Engine Zone deposits; and potentially identify both new zones of interest and extensions to these zones. As part of the PoC the post-processed muon data set will be interfaced to Leapfrog geological modelling software to enable a reconciliation between the current geological model and the density anomaly model generated from the survey.

If the data demonstrates suitability at Parys Mountain, then it will be utilised in the upcoming NCZ drilling, which is targeting down to 625m, with a downhole tool variant. The NCZ currently has a lateral extent of over 1.2km and remains open to the northeast and at depth, therefore it is interpreted to be a target-rich environment for additional sulphide discoveries. In addition, the proposed Northern Copper Zone ("NCZ") drilling is expected to start shortly, with the drill rig scheduled to be mobilised in the week commencing 11 September 2023.

The six-hole programme, for approximately 3,725m of diamond core drilling, has been designed to increase the resource confidence category for the upper levels of the NCZ, extend the high-grade Garth Daniel resource estimate and test the Central Zone, which is not currently in the Parys Mountain project.