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Almasane Alkobra Mining Co. (AMAK) announces latest developments regarding the awarding of three new Exploration Licenses from the 7th Round of the Ministry of Industry and Mineral Resources Bidding process. Jabal AD Dimah, Jabal Al Klah North and Jabal Al Klah South are base metals and precious metals Exploration Licenses.
| Element List | Explanation |
|---|---|
| Previous Announcement | In a previous announcement dated 15/01/2025, Almasane Alkobra Mining Co. (AMAK) announced the award of three new Exploration Licenses from the 7th Round of the Ministry of Industry and Mineral Resources Bidding process. Jabal AD Dimah, Jabal Al Klah North and Jabal Al Klah South are base metals and precious metals Exploration Licenses. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-01-15 Corresponding to 1446-07-15 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Almasane Alkobra Mining Company (AMAK) is pleased to announce to its valuable shareholders that Exploration Licenses have been formally issued for Jabal AD Dimah, Jabal Al Klah North and Jabal Al Klah South license areasa as per the following details: 1-Jabal AD Dimah site, which includes three licenses: Licenses Location: Makkah Region. Licenses No:20250300182 - 20250300183 - 20250300184 Licenses Issuance date: 08/05/2025 AD. Licenses Expiry date: 07/05/2030 AD. Licenses Total Area: 210.75 km2 Ore Type: Copper, Zinc , and Gold 2- Jabal Al Klah North: Licenses Location: Riyadh Region. Licenses No:20250300186 Licenses Issuance date: 08/05/2025 AD. Licenses Expiry date: 07/05/2030 AD. Licenses Total Area: 98.21 km2 Ore Type: Zinc , Lead , and Silver. 3- Jabal Al Klah South: Licenses Location: Riyadh Region. Licenses No:20250300185 Licenses Issuance date: 08/05/2025 AD. Licenses Expiry date: 07/05/2030 AD. Licenses Total Area: 19.22 km2 Ore Type: Lead, Silver, and Zinc. These licenses were issued in accordance with the Mining Investment Law issued by Royal Decree No. M/140 dated 19/10/1441 AH and its executive regulations. The company will carry out the necessary exploration studies during the statutory period to assess the economic potential of target minerals |
| Reasons For The Delay on The Date of The Event Previously Announced | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
| Delay consequences on the Company’s financial results | N/A |
| Additional Information | It is worth noting that the location of Jabal Al Klah North and Jabal Al Klah South exploration licenses are near AMAK's existing Radeniah East exploration license in the Riyadh Region, which has a total area of 82.84 km². AMAK will carry out the necessary exploration studies during the statutory period to assess the economic potential of targeted minerals. The timing of any financial impact to AMAK from these new licenses will become clear after the completion of exploration work and studies within the legal period. The company will announce any major developments regarding these licenses. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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