5 February 2024

Tungsten West Plc

("Tungsten West", the "Company" or the "Group")

Receipt of Draft Permit for Mineral Processing Facility

Tungsten West, the owner and operator of the Hemerdon tungsten and tin mine (the "Project" or "Hemerdon") in Southwest England, is pleased to announce that it has received a draft permit from the Environment Agency for the operation of the Mineral Processing Facility ("MPF") at Hemerdon.

The draft permit is currently undergoing internal review to ensure all aspects are aligned with the operational requirements of the MPF. Following this review by the Company and the finalisation of the documentation, a public consultation will be held where the Environment Agency will identify that they are 'minded to' grant this permit. This is the final step before the Environment Agency can issue the permit.  Throughout the consultation period, Tungsten West will remain committed to engaging with the Environment Agency and relevant stakeholders.

The receipt of the draft permit represents a significant step in securing further financing for the Project and is the gateway for commencement of the updated Feasibility Study, which the Company anticipates will then lead into the main financing round.

Neil Gawthorpe, CEO of Tungsten West, commented:

"I am delighted to confirm receipt of the draft permit for the MPF, which represents a major step-forward in our goal of bringing Hemerdon back into production by the end of 2025, providing an ethical and sustainable domestic supply of critical minerals.

I would like to thank the team at the Environment Agency for working closely with the Company and its consultants throughout 2023 to deliver this draft, and we look forward to progressing this process timeously through to a permit."

ENDS

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014 as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019. For further information, please contact:

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