W Resources PLC - La Parrilla Update

26 November 2020

W Resources Plc

("W" or the "Company")

La Parrilla Update

W Resources Plc (AIM:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, announces an update on Q4 progress to date at the La Parrilla tungsten and tin project in Spain, following the marked improvement in September, as announced in the Q3 Production Report.

The ongoing plant improvements have seen overall recoveries consolidate during the quarter to date, with detailed results to be announced in the Q4 production update in January 2021.

The operations team moved to a four-day working week on 4 November and can report:

·      Record concentrator recovery rates achieved in November of 40% WO₃ and 53% Sn.

·      Mine grade consistently exceeding 1,050ppm WO₃ and 350ppm Sn, which are significantly greater than the preceding three quarters.

·      Plant utilisation remains above 90%, which is encouraging noting the move to a four-day working week (24h per day over three shifts per day).

·      Tungsten and tin concentrate production to date exceeds total Q3 production of 77.6t.

·      As recoveries and production improves, plans are in place to move to a five-day working week, with minimal closure over the Christmas period.

·      Three 20t shipments of tungsten concentrate completed to date, with further shipments planned.

Pablo Neira, Managing Director of Iberian Resources Spain and La Parrilla Mine commented: "Following the improvements that led to such a strong September, I am greatly encouraged that this momentum has continued into Q4. These significant plant improvements together with accessing higher grade portions of the ore body are enabling us to build production rates each month as we work to increase concentrate production. We look forward to updating the market with the Q4 production update in January."

Noting the challenges of the past year, W is providing this interim project update as a one-off update in order to keep investors appraised of the positive progress and developments at the La Parrilla project.

Information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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