THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

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18 March 2024

Cobra Resources plc

("Cobra" or the "Company")

Appointment of Director, Business Development and Asset Marketing

Cobra (LSE:COBR), an exploration company focused on the Wudinna Project ("Wudinna") in South Australia, is pleased to announce that Australian mining industry professional David Clarke has agreed to take on an executive role as Director, Business Development and Asset Marketing.

Mr Clarke is an eminent Australian geologist who has been instrumental in the discovery and development of several large mining operations. He has over 50 years' professional experience including as a geologist with the Commonwealth Department of the Interior and as Chief Geologist at Santos. Mr Clarke played a role in the discovery, development, and production of the million-ounce Tuckabianna gold mine in Western Australia, the Newrybar mineral sand mine in New South Wales, the Mud Tank vermiculite mine in the Northern Territory, and the Mindarie mineral sand mine in South Australia.

Mr Clarke was one of the original vendors of Wudinna to the Company in 2020 and has been a Non-Executive Director of Cobra since 1 May 2020. His transition to an executive position reflects the evolution of Cobra since mid-2023 following the discovery of a substantially scalable ionic rare earth system at Boland which is amenable to a low cost, low disturbance mining method. His new role is an important step in advancing the commercialisation pathway of the Boland discovery and will enable the Company to expand its marketing capabilities by leveraging David's extensive industry network.

Greg Hancock, Chairman of Cobra, commented:

"David is a highly successful mining industry professional who has converted significant exploration discoveries into profitable mining operations over several decades. He has developed important relationships with both industrial and financial institutions over his many years in the sector.

The Boland ionic rare earth discovery has all the hallmarks of a strategic, low-cost source of magnet and heavy rare earths which are essential minerals underpinning global decarbonisation. With David's network and expertise, we believe he will be a great asset in advancing the project towards commercialisation."

David Clarke, Director, Business Development and Asset Marketing of Cobra, commented:

"Cobra's Boland discovery is unique and will, I believe, have a materially positive impact on the western world's access to critical rare earth metals required for permanent magnets and electrification. I am delighted to be part of the executive team responsible for demonstrating the value of the asset and marketing it externally."

Enquiries:

The person who arranged for the release of this announcement was Rupert Verco, Managing Director of the Company.

About Cobra

Cobra is defining a unique multi-mineral resource at the Wudinna Gold and Rare Earth Project in South Australia's Gawler Craton, a tier one mining and exploration jurisdiction which hosts several world-class mines. Cobra's Wudinna tenements totalling 1,832 km², and other nearby tenement rights totalling 2,941 km², contain highly desirable and ionic rare earth mineralisation, amenable to low-cost, low impact in situ recovery mining, and critical to global decarbonisation. Additionally, Cobra holds a 213 km² exploration tenement in northern Tasmania which is also considered highly prospective for ionic rare earth mineralisation.

Cobra's Wudinna tenements also contain extensive orogenic gold mineralisation and are characterised by potentially open-pitable, high-grade gold intersections, with ready access to infrastructure. Cobra has 22 orogenic gold targets outside of the current 279,000 Oz gold JORC Mineral Resource Estimate, and several iron oxide copper gold (IOCG) targets.

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