Application for Admission to OTCID in the USA

Reveille expects US OTCID share quotation within ten business days, no new shares issued.

What the company is saying

Reveille Resources PLC is announcing that its ordinary shares are expected to be admitted to quotation on OTCID in the United States within the next ten business days, pending confirmation by OTC Markets Group. The company emphasizes that no new shares will be issued as part of this process, and its trading on the Aquis Growth Market under ticker REV will remain unchanged. Reveille frames itself as a uranium exploration and development company focused on Italy, specifically on the Novazza and Val Vedello uranium projects, which are subject to environmental assessment. The announcement highlights over 87,000 metres of historical drilling and 17 kilometres of underground development at these projects, originally conducted by AGIP Nucleare S.p.A. and SOMIREN during Italy's national nuclear programme. The company presents its strategy as leveraging substantial historical technical work, applying modern exploration techniques, and adhering to international reporting standards. Executive Director Ippolito Ingo Cattaneo is named as the key management contact.

What the data suggests

The announcement provides a near-term timeline for expected OTCID quotation—within ten business days from October 28, 2026—pending final confirmation. No capital will be raised and no dilution will occur, as no new shares are being issued. The company's Italian uranium projects, Novazza and Val Vedello, are at the exploration-licence application stage and are currently under environmental assessment. Historical exploration at these sites included more than 87,000 metres of drilling and about 17 kilometres of underground development, but no current resource or economic figures are disclosed. The factual content is limited to regulatory progress and historical technical work, with no operational, financial, or project advancement milestones reported for the current period. There is no evidence of recent exploration activity, granted permits, or updated resource estimates.

Analysis

The announcement is primarily a factual update regarding Reveille Resources PLC's application for quotation on OTCID in the United States, with a clear timeline (within ten business days) and no new shares being issued. The remainder of the release provides historical context for the company's Italian uranium projects and outlines strategic intentions, but does not claim any realised operational or financial milestones beyond the regulatory application. The language is proportionate, with no exaggerated claims about imminent value creation or project breakthroughs. Forward-looking statements are limited to strategic intentions and commitments to responsible practices, without overstating progress or near-term impact. No large capital outlay or immediate earnings impact is disclosed, and the only numerical data relates to historical exploration by previous operators. The gap between narrative and evidence is minimal, as the company does not inflate its current achievements.

Risk flags

• ●Regulatory risk remains high for the Italian uranium projects, as both Novazza and Val Vedello are still subject to environmental assessment and have not yet received exploration licences. Delays or negative outcomes in these processes could materially impact project timelines and viability.
• ●The company's operational progress is at a very early stage, with no current drilling, resource delineation, or economic assessment underway. This means there is no near-term pathway to revenue or asset de-risking, increasing uncertainty for investors.
• ●The OTCID quotation, while expanding potential investor access, does not itself create value or improve project fundamentals. Without concurrent operational or financial milestones, the listing could have limited impact on liquidity or valuation.

Bottom line

Reveille Resources PLC is on track for a near-term OTCID quotation in the United States, which may broaden its investor base but will not result in share dilution or immediate capital inflow. The company's core assets in Italy remain at the pre-permitting stage, with both Novazza and Val Vedello uranium projects awaiting exploration licence approval and environmental assessment outcomes. The only quantitative evidence of scale is historical: over 87,000 metres of drilling and 17 kilometres of underground development, all conducted decades ago by previous operators. No new operational, financial, or technical milestones have been achieved or disclosed in this update. Investors should focus on regulatory progress in Italy and watch for any concrete steps toward active exploration or resource definition. The most actionable takeaway is that, while the US quotation may improve visibility, the company's value proposition still hinges entirely on future permitting and exploration success.

Announcement summary

(AQSE:REV) Reveille Resources PLC has applied for its ordinary shares of 1 pence each to be admitted to quotation on OTCID in the United States, a disclosure-based quotation market operated by OTC Markets Group Inc. The final review of the company's application has taken place, and subject to confirmation by OTC Markets Group, Reveille expects its ordinary shares to be admitted to quotation on OTCID within the next ten business days. No new ordinary shares will be issued in connection with this application or proposed quotation. Trading of the company's shares on the Aquis Growth Market under the ticker REV will continue unchanged. Reveille Resources PLC is a UK natural resources exploration and development company with a primary focus on Italy, where it is advancing the exploration and development of the country's largest historic uranium deposits. Through its Italian subsidiary, Futuro Energetico Italiano S.r.l, the company has submitted exploration-licence applications for the Novazza and Val Vedello uranium projects in northern Italy, both of which are subject to the applicable environmental-assessment process. The Novazza and Val Vedello projects were historically explored and developed by AGIP Nucleare S.p.A. and its operating subsidiary, SOMIREN, both part of the ENI group, during Italy's national nuclear programme between 1959 and 1983. Historical work at these projects included more than 87,000 metres of drilling and approximately 17 kilometres of underground development. Reveille's strategy is to identify and advance uranium projects that have benefited from substantial historical exploration and technical work, but where value has yet to be fully realised due to geopolitical, technological, financial or historical factors. The company intends to apply modern exploration techniques and internationally recognised reporting standards to verify historical data, advance exploration, and work towards the delineation of mineral resources in accordance with internationally recognised reporting standards. While Italy remains the principal area of focus, Reveille will selectively evaluate additional uranium opportunities elsewhere in Europe and in other Western jurisdictions where similar value creation opportunities exist. The company is committed to advancing its projects responsibly, working closely with local communities, regulators, and other stakeholders to ensure that exploration activities are undertaken to the highest environmental, technical, and governance standards. Ippolito Ingo Cattaneo is named as Executive Director of Reveille Resources PLC.

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