Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Community Relations
• Governance

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Established a Responsibility Committee on December 9, 2022, to oversee climate-related risks and opportunities and integrate ESG into overall risk management.
• Adopted the Quoted Companies Alliance Corporate Governance Code (QCA Code).

Climate Goals & Targets

Environmental Challenges

• Fluctuations in exchange rates between Canadian Dollar and British Pound.
• Need for additional financial resources for commercial exploitation of mineral resources.
• Uncertainties associated with developing mineral properties (cost of operations, ore grade variations, mineral price fluctuations, exchange rates, development costs, government regulations, environmental protection).
• Lack of current revenue generation.

Mitigation Strategies

• The company is not able to effectively hedge against currency exchange rate risks.
• The company has budgets for near and short-term activities, but longer-term plans may require additional financing.
• The company is in the early exploration stage, making accurate assessment and mitigation of many factors difficult.
• The company is an exploration company and will remain involved in exploration and assessment for some time.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather and higher temperatures

Transition Risks

• Canadian governmental exploration policy changes
• Climate change litigation
• Reputational risk tied to community perceptions

Opportunities

• Opportunities in relation to the emergence of new technologies

Reporting Standards

Frameworks Used: QCA Code

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate change
• Community relations
• Ethical behavior
• Governance

Environmental Achievements

• Reduced Scope 1 emissions to 19.1 metric tonnes of CO2e and Scope 2 emissions to 4.2 metric tonnes CO2e.
• Implemented environmental impact surveys prior to exploration activities.

Social Achievements

• Maintained positive lines of communication with First Nations and other environmental stakeholders.
• Adherence to the Prospectors & Developers Association of Canada E3 Plus: A Framework for Responsible Exploration and the International Council on Mining and Metals Sustainable Development Framework (the ICMM 10 Principles).

Governance Achievements

• Established a Responsibility Committee to oversee climate-related risks and opportunities.
• Appointed two new Non-Executive Directors to strengthen the board’s expertise in corporate finance and capital markets.
• Adopted the Quoted Companies Alliance Corporate Governance Code (QCA Code).

Climate Goals & Targets

Environmental Challenges

• Fluctuations in exchange rates of the Canadian Dollar against £ Sterling.
• Need for additional financial resources if it moves into commercial exploitation of any mineral resource.
• Uncertainty around the ability of any future discovery to generate operational cash flows.
• Depressed equity capital markets and poorly performing share prices across the mining sector.

Mitigation Strategies

• Raised £350,000 through convertible loan notes and a drawdown facility.
• Developed a proactive financial strategy to finance exploration without diluting equity.
• Leveraged company connections and credibility to raise capital.
• Exploring additional incentivisation structures for directors.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Stringent selection and risk assessment process for suppliers to ensure compliance with corporate and ethical standards (including modern slavery and human trafficking).

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather and higher temperatures

Transition Risks

• Canadian governmental exploration policy changes
• Climate change litigation
• Reputational risk tied to community perceptions

Opportunities

• Opportunities in relation to the emergence of new technologies

Reporting Standards

Frameworks Used: TCFD

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Climate Goals & Targets

Supply Chain Management

Responsible Procurement

• We demand our network and suppliers follow our own ESG objectives.

Climate-Related Risks & Opportunities