Blenheim Natural Resources PLC / Index: AIM / Epic: BNR / Sector: Financial Services

1 April 2016

Blenheim Natural Resources PLC (the "Company" or "Blenheim")

IGS (International Geoscience Services) Limited update

Blenheim Natural Resources Plc, an active investor in companies in the natural resources sector and associated industries, is pleased to announce an update from IGS (International Geoscience Services) Limited ("IGS"), a company in which Blenheim has a 27.1 per cent interest.

Overview

·     Positive update regarding the development and commercialisation of IGS's first innovative new mineral prospectivity software package, IGS Xplore, which has been designed to support and de-risk early-stage mineral exploration:

o  Successful demonstration of IGS Xplore to mining industry professionals and enthusiastic feedback received

o  Early indications of interest for orders of IGS Xplore have been received

·     Two new contracts signed by IGS's geo-consultancy division:

o  Agreement with Geological Survey of India ("GSI") to manage the tender process for a multisensory airborne geophysical surveying consultancy over India - project beginning in  April 2016 and funded by the Government of India

o  Contract relating to a World Bank-funded programme focused on the acquisition and development of geo-data infrastructure within Lao People's Democratic Republic

Blenheim Non-executive Director, Chris Cleverly, commented: "I am delighted that so soon after our investment in IGS, the company is continuing to make significant steps towards commercialising its geo-data products with a view to capitalising on its competitive advantage in the field.  The product is currently pre-revenue but, from early indications of interest, we look forward to being able to announce first orders in due course.  We are excited about the prospects of the IGS Xplore package and the significant impact this could have on the mining and exploration industry and will continue to provide shareholders with updates regarding its marketing and roll-out in due course.  

"In addition, we are pleased to note that IGS continues to make strong headway in its established geo-consultancy division.  Both the agreements in India and Lao PDR demonstrate the breadth and quality of IGS's offering and scope for further expansion internationally."

Further Information

IGS Xplore

IGS has been working towards developing geo-data products since 2014.  Its first product, IGS Xplore, is an innovative new mineral prospectivity software package designed to support and de-risk early-stage mineral exploration.  This tool is unique as it is an artificial intelligence based analytical tool, rather than a purely geographical information systems based methodology, and uses expert knowledge to identify potentially prospective areas of mineralisation based on non-statistical geological rules governing up to 50 known mineralisation models.  IGS Xplore generates prospectivity maps for regions or countries using base geo-data quickly and efficiently.

IGS Xplore was shown informally to a selected audience at the Mines and Money event in London in November 2015, and based on feedback received by the directors of IGS, it was formally announced and demonstrated at Mining Indaba in Cape Town in February 2016, and again at the PDAC Convention in Toronto in March 2016.  In both cases, IGS believes that it has been enthusiastically received by the market and that some early orders have been indicated. IGS is currently allocating resources to further accelerate the development of IGS Xplore and to support the marketing and delivery of the service.

Geo-consultancy Division

IGS has been awarded two contracts in its geo-consultancy division.

The first is in India where IGS will assist the GSI to manage and compile the Terms of Reference for a forthcoming tender to undertake a multisensory airborne geophysical surveying consultancy over India, as well as assisting in the process to identify the winning bidder for this work.  The project is funded by the Government of India and is due to start in April 2016.

The second new contract is in the Lao People's Democratic Republic.  This work, funded by the World Bank, is titled "Acquisition and Development of Geodata Infrastructure (Geological Mapping) within selected areas of Lao PDR".  IGS is part of a consortium which includes the Finnish Geological Survey and Paterson, Grant and Watson, a Canadian-based geophysics company. IGS is assisting in the managing of this project and undertaking geological mapping, likely to commence later in 2016, whilst the airborne geophysical data collection component is anticipated to start next month.

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