Nzuri Copper Limited advised that it has completed an updated Feasibility Study for the proposed Stage 1 development of its 85%-owned Kalongwe Copper-Cobalt Project, located in the Kolwezi region of the Democratic Republic of Congo (DRC). The updated Stage 1 FS was based on revised pricing (reflecting continued increases in the cobalt price) and point-of- delivery. The results have further reinforced the Project's exceptional financial and technical merits, delivering significantly enhanced financial returns. The updated FS includes an updated Ore Reserve estimate for Kalongwe of 7.99Mt at 2.94% Cu and 0.34% Co for 234,868t of contained copper and 27,102t of contained cobalt. This represents an 11% increase in contained copper and 8% increase in contained cobalt compared with the maiden Ore Reserve published in October 2017. All production targets and forecast financial information in this announcement in respect of Stage 1 are underpinned 100% by Ore Reserves. The updated FS further reinforces the technical and financial viability of the previously outlined Stage 1 development. This is based on an open pit mining operation utilising an on-site 1Mtpa DMS processing plant to produce two high-quality dry saleable concentrate products suitable as a feedstock for off-site SX-EW processing.