Landore Resources Limited (AIM:LND) provided an update on the review of the options available to Landore in relation to its Canadian subsidiary /assets (the "Strategic Review") which concluded on December 31, 2022 and Landore's operational plans for 2023.  The Strategic Review process generated significant interest in the Company's Canadian subsidiary /assets and whilst positive outcomes from the Strategic Review process have arisen, details of which are set out below, as a result of challenging market conditions the Board does not believe that it will be possible to maximise the value of the Company's assets through a corporate transaction at this time. Accordingly, the Board has determined that it will be in shareholders' best interests for management to continue to focus on developing the value within the Company's existing assets in the near term. Landore will continue its discussions with several parties regarding Landore's Junior Lake Northern area, which contains known lithium prospects.

These discussions are progressing well; however, there can be no guarantee that it will be possible to conclude a transaction regarding these assets. Whilst the Strategic Review has now been concluded, it should be noted that any future interest expressed in Landore Canada and the Junior Lake property will continue to be duly considered and assessed by the Board. The Strategic Review has provided the Company with industry feedback which indicated that a gold resource in the region of 2 million ounces would result in the Company's assets being of interest to a number of large industry participants, and the Board now considers that greater potential value for shareholders would be achieved by seeking to grow Landore's gold resource ("Resource") towards this level.