TIDMCDL

RNS Number : 0371X

Cloudbreak Discovery PLC

30 December 2021

30 December 2021

Cloudbreak Discovery Plc

("Cloudbreak" or the "Company")

Final Results for the Year Ended 30 June 2021

Cloudbreak Discovery Plc (LSE: CDL), a natural resource project generator, is pleased to announce its final results for year ended 30 June 2021 ("FY21" or the "Period"). A full copy of the results is available on the company website.

Period Highlights

-- Admission to the Main Market of the London Stock Exchange following a successful, oversubscribed, GBP2 million fundraising at 3p per share

   --    Change of name to Cloudbreak Discovery Plc 

-- Formation of a strategic alliance with Alianza Minerals Ltd (the "Alliance") to explore for copper deposits in the Southern United States

-- Temas Resources Corp., in which Cloudbreak has a 14.2 per cent interest, entered into a joint venture with Erin Ventures Inc. ("Erin Ventures") for the development of Erin Ventures' Piskanja Borate Project located in Serbia

Post Period Highlights

   --    The Alliance made its first acquisition, the Klondike Property ("Klondike"), in Colorado 

o A subsequent sampling programme expanded the known copper mineralisation and delineated a new copper target with results including 1.56% copper from a 4.6 metre chip sample

o The Alliance optioned Klondike to Allied Copper Corp. ("Allied Copper") under an agreement which includes Allied Copper committing to exploration expenditure and the Alliance retaining a net smelter royalty

-- Cloudbreak initiated an exploration programme on the Northwest Portfolio which targets polymetallic projects in Northwestern British Columbia ("BC")

-- The Alliance made its second acquisition with the Stateline Property ("Stateline") in Utah which has 22 unpatented mining claims. Mineralisation and host rocks at Stateline bear strong resemblance to those at the Lisbon Valley Mining Complex

-- Optioned the Atlin West Project in BC, which targets gold and silver mineralisation in polymetallic vein systems, and the South Timmins Project in Ontario, which is targeting lode gold mineralisation, to 1315956 BC Ltd

   --    Optioned the Yak Project, which targets gold mineralisation in BC, to Moonbound Mining Ltd 

Commenting on the results, Kyler Hardy, CEO said: "Since listing on the Main Market earlier this year, Cloudbreak has been successfully executing its business model with 13 out of our 17 assets now optioned to partners. Through our strategic alliance and partnerships, we can expect an active year ahead with sampling and testing results from several projects. We look forward updating shareholders as our projects continue to advance."

Financials

-- The loss of the Group for the year ended 30 June 2021 amounts to GBP902,060 (30 June 2020: GBP1,073,538)

-- GBP1,277,617 in cash and cash equivalents held at the period end (30 June 2020: GBP6,478). The higher level of cash is attributable to fundraising activities completed during Admission

-- Administrative costs as a percentage of total assets of 14.1 per cent, a decrease compared to 20.2 per cent for period ended 30 June 2020

   --    Exploration and evaluation cash expenditures amount to GBP29,675 (30 June 2020: GBPNIL) 
   --    GBP4,353,318 carrying value of investments held at the period end (30 June 2020: GBP28,306) 
   --    Consolidated loss per share or the period ended 30 June 2021 was GBP0.85 

-ENDS-

For additional information please contact:

 
 Cloudbreak Discovery        Tel: +1 604 428 
  PLC                         9480 
                             Kyler Hardy, CEO            khardy@cloudbreakdiscovery.com 
                             Henrik Mikkelsen,           hmikkelsen@cloudbreakdiscovery.com 
                              VP Corporate Development 
 
 Novum Securities            Tel: +44 7399 9400 
  (Financial Adviser) 
                             David Coffman / 
                              Lucy Bowden 
 
 Shard Capital Partners      Tel: +44 207 186 
  (Broker)                    9900 
 
                              Damon Heath / Isabella 
                              Pierre 
 
 
 Blytheweigh                 Tel: +44 207 138            Cloudbreak@blytheweigh.com 
  (Financial PR/IR-London)    3204 
                             Tim Blythe 
                             Megan Ray 
 
 Stellium Services           Tel: +44(0)207 129          Cloudbreak@StelliumServices.com 
  (Investor Relations)        1205 
 www.StelliumServices.com    Andrew Wilson 
                             Claire Bowden 
 

About Cloudbreak Discovery PLC

Cloudbreak Discovery PLC, is a leading natural resource project generator, working across a wide array of mineral assets that are being developed and managed by an experienced team with a proven track record. Value accretion within the projects being developed by Cloudbreak's generative model enables a multi-asset approach to investing and exploration. Diversification within the mining sector and amongst resource classes is key to withstanding the cycles of natural resource investing.

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END

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December 30, 2021 02:00 ET (07:00 GMT)

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