For immediate release

30 March 2023

Xtract Resources Plc

("Xtract" or the "Company")

Change of auditor

The Board of Xtract Resources Plc ("Xtract" or the "Company") has appointed MAH, Chartered Accountants ("MAH") as its new independent auditor with immediate effect. 

Jeffreys Henry LLP, the Company's former auditor, has advised Xtract that Jeffreys Henry LLP does not have sufficient capacity to satisfy its regulatory requirements in respect of its audit engagement with Xtract and on that basis will therefore resign as auditor. This change has caused Jeffreys Henry LLP to withdraw from multiple clients concurrently, not just Xtract.

The Board has approved the appointment of MAH as the Company's auditor for the financial year ending 31 December 2022. The re-appointment of MAH for the financial year ending 31 December 2023 will be subject to approval by shareholders at the next Annual General Meeting of the Company to be held in 2023.

In accordance with Section 519 of the Companies Act 2006, Jeffreys Henry, has deposited with the Company a statement confirming that there are no matters to be brought to the attention of the Company's members or creditors.

Further information is available from the Company's website which details the company's project portfolio as well as a copy of this announcement: www.xtractresources.com

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). The person who arranged for the release of this announcement on behalf of the Company was Colin Bird, Director.

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