Mankayan Project Update - Blackstone & IDM Merger.

17 June 2025

Bezant Resources Plc

("Bezant" or the "Company")     

Mankayan Project Update
Blackstone and IDM Merger Court Approval

Bezant (AIM: BZT), the copper-gold exploration and development company, announced on 6 February 2025 that ASX listed Blackstone Minerals Ltd ("Blackstone") had announced a proposed merger (the "Proposed IDM Merger") via a scheme of arrangement ("Scheme") with IDM International Limited ("IDM") through which the Company holds its interest in the Mankayan Copper Gold project in the Philippines ("Mankayan Project"). Blackstone have on 17 June 2025 released an announcement to advise that the Supreme Court of Western Australia has today made order ("Court Order") approving the Scheme by which Blackstone will acquire 100% of the fully paid ordinary shares in IDM. Once the Court Orders are lodged with the Australian Securities and Investment Commission ("ASIC") , which IDM propose to do tomorrow, the Scheme will become legally effective. The key events and the expected timing in relation to the approval and implementation of the scheme are set out in the indicative table below:

The above timetable is indicative only and the stated dates and times are subject to change

A copy of Blackstone's announcement of 17 June 2025 titled "Update: Blackstone and IDM Merger - Court Approval of Scheme" which incorporates an announcement dated 17 June 2025 from IDM has been published on the ASX website at

https://announcements.asx.com.au/asxpdf/20250617/pdf/06kv49r86l76qx.pdf  

Under the Proposed IDM Merger IDM shareholders will receive 7.4 Blackstone shares for every 1 (one) IDM share they hold.   

When the Proposed IDM Merger is completed Bezant will receive 139,365,659  Blackstone shares and 2,543,750 options to acquire Blackstone shares at AUD0.06 expiring on 5 February 2029 for its IDM shares and IDM options. The Blackstone closing share price on 17 June 2025 according to the ASX website was AUD 9.1 cents (approximately 4.4 pence)

 https://www.asx.com.au/markets/company/BSX   

For further information, please contact:

or visit http://www.bezantresources.com

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.