Change of Adviser

RNS Number : 7238T

GCM Resources PLC

16 October 2017

GCM Resources plc

("GCM" or the "Company")

(AIM:GCM)

Appointment of Nominated Adviser and Broker

Further to the Exchange's announcement of 10 October 2017 and the Company's announcement of 11 October 2017 regarding the pending removal of ZAI Corporate Finance Limited from the register of nominated advisers, the Company wishes to announce it has appointed Northland Capital Partners Limited ("Northland") as its nominated adviser and broker. Given the particular circumstances, the Exchange has agreed that Northland has until 5pm 19 December 2017 to finalise its due diligence and provide all relevant nominated adviser confirmations to the Exchange.

There can be no guarantee that Northland will be able to satisfactorily conclude its due diligence by 5pm 19 December 2017 or provide the relevant declaration to the Exchange. Accordingly, in such circumstances there is a risk that the Company's AIM securities will be suspended from trading on the Exchange on or before 5pm on 19 December 2017 pursuant to AIM Rule 1. If within one month of that suspension, the Company has failed to appoint a replacement nominated adviser, the admission of its AIM securities will be cancelled.

Notwithstanding the extension of time provided in respect of due diligence obligations at engagement, Northland will continue to be subject to all the ongoing nominated adviser responsibilities under the AIM Rules for Nominated Advisers.

The Company and Northland are determined to complete the due diligence process within the time frame that has been specified by AIM and shareholders will be advised once the process has been completed and relevant nominated adviser confirmations to the Exchange have been made.

For further information:

GCM Resources plc

James Hobson

Finance Director

+44 (0) 20 7290 1630

Northland Capital Partners Ltd

Nominated Adviser and Broker

Tom Price

Matthew Johnson

+44 (0) 203 861 6625