Philippines

Philippines

MANKAYAN COPPER-GOLD PORPHYRY DEPOSIT

(Updated 7 July 2025 refer to our announcements page for subsequent updates)

Introduction

Situated in the heart of the prospective Mankayan Mineral District in Northern Luzon, Philippines, the Mankayan copper-gold project is regarded as one of the largest undeveloped copper-gold porphyry mining projects in the world. The project holds a 25-year mining licence (MPSA) and is strategically positioned near major operating mines, including the Lepanto epithermal deposit and Gold Fields Far Southeast porphyry deposit.

Bezant Resources holds an indirect stake in the Mankayan copper-gold porphyry project through its shareholding in ASX listed Blackstone Minerals Ltd.

On 6 February 2025 the Company announced that IDM International Limited (“IDM”) through which the Company held its interest in the Mankayan Copper Gold project in the Philippines (“Mankayan Project”) had announced a proposed merger with ASX listed Blackstone Minerals Ltd (“Blackstone”)(“IDM Merger”).  

On 27 June 2025 the Company announced the completion of the IDM Merger. Blackstone now holds the Mankayan Project and Bezant was issued 139,365,650 Blackstone shares and 2,543,750 options to acquire Blackstone shares at AUD0.06 expiring on 5 February 2029 for its IDM shares and IDM options.   

 On 2 July 2025 the Company announced that Blackstone had secured A$22.6m (approximately £10.8m) of financing for a major drill program at the Mankayan Project and provided an updated investor presentation.

The investor presentation titled “Blackstone Minerals – Investor Presentation – July 2025”  is available for download from the ASX website at:

https://announcements.asx.com.au/asxpdf/20250702/pdf/06lcph2kp8xw0h.pdf

Blackstone’s website is at https://blackstoneminerals.com.au/ and has a summary of the Mankayan Project which Bezant is interested in via its shareholding in Blackstone.