Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining

20 December 2023

Bluejay Mining plc

('Bluejay' or the 'Company')

Board changes

Bluejay Mining plc, the AIM, FSE-listed and OTCQB traded exploration and development company hereby announces that Mr Roderick McIllree, Mr Harry Ansell and Mr Troy Whittaker have been appointed as Non-Executive Directors ('NED') with Troy also appointed to the role as Chief Operating Officer with Mr Eric Sondergaard appointed as the Managing Director of the Company with immediate effect. Concurrently, Mr Robert Edwards, Mr Bo Stensgaard and Mr Peter Waugh have stepped down from the Board of Directors also with immediate effect. Mr Stensgaard will remain as an employee of the Company. Mike Hutchinson has been appointed Non-Executive Chairman.

Roderick McIllree is a London based trained Economic Geologist and Fellow of the Australian Institute of Mining and Metallurgy. He served as both CEO and Executive Chairman of Bluejay from 2015 to mid 2022.  Mr McIllree has worked in Greenland for approximately 20 years and has extensive contacts throughout the resources and financial sectors.

Troy Whittaker is an executive with more than 20 years of experience, spanning successful international project evaluation, development and the operation of multi-billion-dollar assets, globally, across a broad range of commodities, including iron ore. Mr Whittaker has held senior roles with major global mining companies, Fortescue Metals Group Ltd and Anglo-American UK.

Eric Sondergaard is a registered Professional Geoscientist (P.Geo) and a graduate of the University of Calgary in Canada with over 15 years of operational experience in challenging and remote locations. Mr Sondergaard has previously served as Executive Director and COO at Bluejay, where he identified, negotiated and managed Bluejay's joint venture with KoBold Metals in relation to the Disko-Nuussuaq project.

Harry Ansell began his career in the City in 1986. Since that time, he has worked for Albert E Sharp, Cazenove, Merrill Lynch and WH Ireland. Throughout this time, he has developed a strong track record for repositioning shareholder bases for quoted companies and successfully leading equity capital raises.

Michael Hutchinson, Non-Executive Chairman of Bluejay Mining, commented:

"The Board would like to thank Robert, Bo and Peter for their hard work, professionalism and dedication to the Company during extremely difficult market conditions. They leave on good terms and we wish them the best in their future endeavours.

"In due course, the new Board will update shareholders regarding the implementation of a new strategy that will focus solely around developing the Disko magmatic massive sulphide project in Greenland."

AIM Disclosures

The following details in relation to the appointment of Mr Roderick Claude McIllree, aged 50, are disclosed in accordance with Schedule 2(g) of the AIM Rules:

Mr McIllree holds 68,999,268 ordinary shares in the capital of Bluejay.

The following details in relation to the appointment of Mr Eric Martin Sondergaard, aged 37, are disclosed in accordance with Schedule 2(g) of the AIM Rules:

Mr Sondergaard holds the following options in the Company:

·      4,000,000 options with an exercise price of 15 pence expiring 15 February 2025;

·      4,000,000 options with an exercise price of 20 pence expiring 15 February 2025;

·      4,000,000 options with an exercise price of 25 pence expiring 15 February 2025; and

·      900,000 options with an exercise price of 10 pence expiring 30 July 2025.

The following details in relation to the appointment of Mr Troy Edward Whittaker, aged 40, are disclosed in accordance with Schedule 2(g) of the AIM Rules:

Mr Whittaker has no interest in the ordinary share capital of the Company.

The following details in relation to the appointment of Mr Harry Edward Ansell, aged 55, are disclosed in accordance with Schedule 2(g) of the AIM Rules:

Mr Ansell has no interest in the ordinary share capital of the Company.

Mr Ansell was a director of Tough Tracker Ltd, which entered administration in June 2013, prior to dissolution in February 2016. Mr Ansell was also a director of HJHR Ltd, which entered administration in June 2013 and was dissolved in March 2014.

Save as disclosed above, there are no additional disclosures to be made in accordance with Rule 17 or Schedule 2(g) of the AIM Rules.

Market Abuse Regulation (MAR) Disclosure

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 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018.

For further information please visit http://www.bluejaymining.com or contact:

About Bluejay Mining plc

Bluejay is listed on the London AIM market and Frankfurt Stock Exchange and its shares also trade on the OTCQB Market in the US. With multiple projects in Greenland and Finland, Bluejay offers both portfolio and commodity diversification focused on base and precious metals in Tier 1 jurisdictions.

Bluejay, through its wholly owned subsidiary Disko Exploration Ltd., has signed a definitive Joint Venture Agreement with KoBold Metals to guide exploration for new deposits rich in the critical materials required for the green energy transition and electric vehicles (the Disko-Nuussuaq nickel-copper-cobalt-PGE Project).

Disko Exploration Ltd holds two additional projects in Greenland - the 692 sq km Kangerluarsuk zinc-lead- silver project, where historical work has recovered grades of up to 45.4% zinc, 9.3% lead and 596 g/t silver; and the 920 sq km Thunderstone project which has the potential to host large-scale base metal and gold deposits. Bluejay also owns 100% of the fully permitted Dundas Ilmenite Project under its subsidiary Dundas Titanium A/S in northwest Greenland for which it will seek strategic alternatives. 

In Finland, Bluejay currently holds three large scale multi-metal projects through its wholly owned subsidiary FinnAust Mining Finland Oy. The Company has identified multiple drill ready targets at the Enonkoski nickel-copper-cobalt project in East Finland. Bluejay's Hammaslahti copper-zinc-gold-silver project hosts high-grade VMS mineralisation and extensions of historical ore lodes have been proven. The drill ready Outokumpu copper-nickel-cobalt-zinc-gold-silver project is located in a prolific geological belt that hosts several high-grade former mines. Bluejay also owns 29% of Metals One PLC (AIM: MET1) after the divestment of its Black Shales Project.

**ENDS**