Mining, Minerals & Metals plc

26 October 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS ?NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.?

Mining, Minerals & Metals Plc/Index: LSE/Epic: MMM/Sector: Natural Resources

Mining, Minerals & Metals plc

("MMM" or the "Company")

Proposed acquisition and Suspension of Listing - Update

Heads of Terms with Georgina Energy plc

The Board has now entered into heads of terms with Georgina Energy plc ("GEO"). GEO is an early-stage resource company with a strategy of actively pursuing the exploration, commercial development and monetisation of helium, hydrogen and hydrocarbon interests located in the Amadeus and Officer Basins in Northern and Western Australia ("Proposed Transaction").

The Proposed Transaction, if completed, would constitute a reverse takeover under the Listing Rules and accordingly the Company would need to apply for re-admission of its shares to the Official List and the Main Market of the London Stock Exchange.

As the Company is currently unable to provide a full disclosure under Listing Rule 5.6.15, the Company's listing in its ordinary shares on the standard segment of the Official List and trading from the London Stock Exchange ("LSE") will remain suspended pending the publication of a prospectus providing further details on GEO as enlarged by the Proposed Transaction.

In the event that the Proposed Transaction does not proceed the Company will seek the lifting of its suspension from the standard segment of the Official List and trading on the LSE.

The Proposed Transaction is conditional on a number of conditions including; i) satisfactory due diligence ii) entering into a definitive legal agreements iii) raising further funds for the Proposed Transaction; iv) approval by shareholders at a General Meeting to be convened; v) obtaining all necessary approvals (if required) and; vi) granting of eligibility for the readmission of the Company to the Official List by the FCA.

There can be no certainty that the Proposed Transaction will take place and the Company will continue to update shareholders in due course.

Update on transaction with African Resources Holdings

The Board of MMM announces that it is not able to pursue the transaction with Africa Resources Holdings, LLC ("ARH"), to acquire the entire issued share capital of Narnia Mauritius Gas Holdings Limited, regarding their interests in the Lindley Natural Gas Project until such time as the licences relating to the project are renewed, which has been pending for a considerable period of time.

Roy Pitchford

Non-Executive Chairman, Mining, Minerals & Metals plc

Telephone +44 (0)20 7317 0644

Email: roy@mmmplc.com

Tavira Financial Limited - Financial Adviser and Broker

Jonathan Evans

Telephone: +44 (0)20 3192 1733

Email: jonathan.evans@tavira.group