MCON Mincon Group Plc

TIDMMCON

RNS Number : 2895Y

Mincon Group Plc

05 September 2022

MINCON GROUP PLC

("Mincon" or the "Company")

Greenhammer Commercial Contract

Mincon is pleased to announce the signing of the first commercial contract for the Greenhammer system.

This milestone is the culmination of many years of development work and is the first step toward revenue generation with a unique drilling system that has a transformational potential for Mincon and the hard rock surface mining industry. The Greenhammer contract is with a blue-chip mining contractor operating on a major gold mine in Western Australia.

The contract provides for the mobilisation of the Greenhammer system to be run on a Mincon - owned test rig as well as a full Mincon team to support drilling blastholes on an agreed price per metre drilled. The Greenhammer system is expected to be onsite at the mine and generating revenue early in Q4 2022.

Joe Purcell CEO of Mincon commented:

"I am delighted to announce the signing of the first commercial contract for our Greenhammer system, that has the potential to be a multi-million-euro contract for our Group. This flagship technology development project has been the most ambitious undertaking that our engineering teams have delivered to date. It is a system that can deliver transformational productivity rates for large scale surface mining projects and thus offers significant energy savings to the customer.

Our highly skilled team in Perth Western Australia is in the heart of one of the largest hard rock surface mining markets in the world and this is a huge opportunity for our Greenhammer system. We are hopeful that when the Greenhammer demonstrates its superior capabilities in a commercial hard rock mining environment that it will be taken up quickly by the wider hard rock mining community. "

For further information,

please contact:

Mincon Group plc

Joe Purcell CEO Tel: +353 (61) 361 099

Mark McNamara CFO

Davy Corporate Finance (Nominated Adviser, Euronext Growth Adviser and Joint Broker)

Anthony Farrell Tel: +353 (1) 679 6363

Daragh O'Reilly

Shore Capital (Joint Broker)

Malachy McEntyre Tel: +44 (0) 20 7408 4090

Mark Percy

Daniel Bush

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