Completion of investment by Central Asia Metals plc and director appointment

Aberdeen Minerals announces the completion of its equity financing of up to £5.5 million, as announced on 25 March 2024:

• £3 million invested by Central Asia Metals plc (CAML) to acquire a 28.7% shareholding
• Warrants issued to CAML which, if exercised, would raise an additional £2 million and take CAML ownership to 37.8%
• Louise Wrathall, CAML Executive Director of Corporate Development, has been appointed to the Aberdeen Minerals board as a non-executive director.
• A fully subscribed Entitlement Offer and placing with existing shareholders, management and new investors to raise a further £0.5 million.

Patrick Murphy, Chair of Aberdeen Minerals, commented:

“We are very pleased to complete CAML’s £3 million cornerstone investment and also appreciate the support of existing and new investors to raise a further £0.5 million. This strong financial backing of our business is testament to the excellent work of our team in Aberdeenshire and the quality of our nickel-copper exploration projects in North East Scotland.

“I wish to extend a warm welcome to Louise Wrathall who joins as non-executive director. As well as representing CAML, she brings extensive mining sector expertise to the Board team and I very much look forward to working together.”

Louise, who qualified with a Master’s degree in mining geology from the Camborne School of Mines, has over 20 years of experience in the mining sector. She has worked as a mining equity analyst focused on London-listed companies, including for Investec covering FTSE 100 companies, and junior miners and explorers. She joined CAML in 2015 and was appointed to its board of directors in May 2022.

CAML is a UK mining company trading on the Alternative Investment Market of the London Stock Exchange. It owns and operates the Kounrad SX-EW copper operation in central Kazakhstan and the Sasa zinc-lead mine in North Macedonia.

Enquiries and further information:

Fraser Gardiner, CEO     Phone: 0800 047 8736    Email: moc.slarenimneedreba@ofni

About Aberdeen Minerals

Aberdeen Minerals is a privately owned UK company exploring for battery metal deposits in North East Scotland. Active since 2018, the company has partnered with landowners through exclusive land access and exploration agreements over areas of Aberdeenshire prospective for nickel, copper and cobalt mineralisation. These metals are strategically important for long term, responsibly sourced and resilient supplies of the raw materials critical to a just energy transition in Scotland and the UK.