Introduction

Botswana Minerals plc (“BMIN” or “the Company”) underwent a transformative period, broadening its focus beyond traditional diamond exploration by leveraging artificial intelligence (AI) and its extensive geological database, built over two decades. This AI-driven strategy identified seven new kimberlite targets, one of which is of exceptional interest, and several polymetallic prospects for critical minerals, including copper, nickel, cobalt, zinc, PGMs, gold, and silver. These discoveries led to the granting of four new diamond prospecting licences covering 2,644 km², and to applications for eight additional prospecting licences for base and precious metals across Botswana.

Through collaboration with Planetary AI Ltd (technical leaders in AI-based mineral exploration), BMIN deployed the Xplore prospectivity platform, which used semantic analysis and machine learning on one of Botswana’s most extensive private exploration datasets. This process generated advanced targets and improved exploration focus, positioning BMIN at the forefront of AI-driven mineral discovery in the region. While expanding into critical minerals to align with the global energy transition, the Company continues to maintain its core diamond assets, anticipating market recovery in the future. Key projects, such as the high-grade KX36 kimberlite in Botswana and Thorny River in South Africa, were preserved and advanced through permitting, evaluation, and low-cost work programmes.

As BMIN evolves into an AI-driven, diversified explorer, the Company recognises that unlocking Botswana’s critical mineral potential will require strong technical and financial collaboration. Accordingly, BMIN is actively seeking a strategic partner to share this next phase, one that brings complementary capabilities, resources, and vision to accelerate the evaluation and development of these AI-defined polymetallic targets. With a pipeline of new prospects, an established diamond foundation, and a commitment to sustainable value creation, BMIN is well-positioned to enter the next phase of growth and shape the future of mineral exploration across Southern Africa.