SHUKA MINERALS PLC - Kabwe Mine - Receipt of Funding for Kabwe Transaction

Kabwe Mine - Receipt of Funding for Kabwe Transaction

SHUKA MINERALS PLC
(formerly Edenville Energy PLC)
(Incorporated in England and Wales)
(Registration number 05292528)
("Shuka Minerals" or "the Company")
ISIN Code: GB00BN47NP32
AIM Share Code: SKA JSE Share Code: SKA

Kabwe Mine – receipt of funding for Kabwe transaction

Shuka Minerals Plc (AIM/AltX: SKA), an African focused mine operator and developer, provides
an update on the Company's proposed acquisition ("Acquisition") of the Zambian mining and
exploration company, Leopard Exploration and Mining Limited ("LEM") and the Kabwe Zinc
Mine ("Kabwe Mine") located in central Zambia.

Further to its announcement earlier today, the Company has received payment of £815,000
from African focused investment banking and corporate finance group Gathoni Muchai
Investments Limited ("GMI") pursuant to the increased loan ("GMI Loan") entered into on 30
June 2025. This brings the total funds drawn under the GMI Loan to £1.115m, with a further
£385,000 remaining undrawn. The GMI Loan is unsecured, non-convertible and carries an
interest rate of 5% per annum. A 3% establishment fee, as announced on 1 July 2025, will be
settled in due course through the issuance of Shuka shares to GMI at a price of 8 pence per
share.

The Company is arranging payment to the LEM vendors of the balance of the Acquisition cash
consideration, being $1.05m, and issue of balance of the 22,275,588 Consideration Shares (as
defined in the Company's announcement on 1 July 2025) and 1,555,556 Consideration
warrants. The Consideration Shares are being issued at an effective price of 7.817 pence per
share and are subject to a 1 year lock-in restriction.

A further announcement will be made on completion of the Acquisition, following which Shuka
will own 100% of LEM and the world class Kabwe Mine.

AIM Application

Application is being made to the London Stock Exchange for the 22,275,588 Consideration
Shares to be admitted to trading on AIM. It is expected that Admission will become effective
and that dealings in the Consideration Shares on AIM will commence at 8.00 a.m. on or around
15 January 2026.

Following Admission, the total issued share capital of the Company will be 95,498,639 ordinary
shares, each with voting rights. The above figure may be used by shareholders as the
denominator for the calculations by which they will determine if they are required to notify
their interest in, or a change to their interest in, the Company, under the FCA's Disclosure
Guidance and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European
Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's
obligations under Article 17 of MAR.

Capitalised terms in this announcement have the same meaning as in the Company's
announcement 1 July 2025, unless otherwise defined.

Shuka Minerals plc has its primary listing on the London Stock Exchange (AIM) and a
secondary listing on the AltX of the JSE Limited.

LONDON

13 January 2026

For Enquiries:

Shuka Minerals Plc                                                      +44 (0) 7990 503007
Richard Lloyd – CEO

Strand Hanson Limited                                                   +44 (0) 20 7409 3494
Financial and Nominated Adviser
James Harris | Richard Johnson

AcaciaCap Advisors Propriety Limited                                    +27 (11) 480 8500
JSE Sponsor and Listing Advisor
Michelle Krastanov

Tavira Financial Limited                                                +44 (0) 20 7100 5100
Joint Broker
Oliver Stansfield | Jonathan Evans

Peterhouse Capital Limited                                              +44 (0)20 7469 0930
Joint Broker
 Charles Goodfellow | Duncan Vasey

Investor Relations                                                      +254 746 849 110
Faith Kinyanjui Mumbi




                                       SPONSOR
                              AcaciaCap Advisors Proprietary Limited

Date: 13-01-2026 01:02:00
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