JUBILEE METALS GROUP PLC - Jubilee executes transaction on the Large Waste Project

Jubilee executes transaction on the Large Waste Project

Jubilee Metals Group PLC
Registration number: 4459850
AIM share code: JLP
Altx share code: JBL
ISIN: GB0031852162
('Jubilee' or 'the Company' or 'the Group')

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Jubilee executes transaction on the Large Waste Project

Jubilee, a diversified metals processor in Africa, with copper operations in Zambia and chrome and
PGM operations in South Africa, is pleased to announce an update on the Large Waste Project
transaction.

Jubilee has secured the exclusive rights to the Large Waste Project (Project) for a reduced consideration
of US$18 million (previously US$30 million). The Company has until mid-May 2025 to elect to acquire
the assets and settle the approximately US$11.5 million dollars remaining of the consideration over a
period of 12 months. Jubilee has been performing a due diligence on the Project which included
sampling campaigns, laboratory test work and pilot scale trials, the results of which will inform the
board's decision as to whether to exercise the option to acquire the assets.

On the back of encouraging results from the due diligence completed so far, Jubilee has entered into
an agreement to sell 10 million tonnes of the estimated 260 million tonnes of material to a selected
multi-national metals company. The value of the 10 million tonnes material trade is estimated at
US$6.75 million. Under this agreement Jubilee will gain a detailed insight into the performance of the
material when processed at the partnered company's existing facilities. The results of which will
provide a high degree of confidence in the expected performance of the material if processed in future
by Jubilee.

Statement from Leon Coetzer, Chief Executive Officer:

"Jubilee's copper strategy continues to gain further momentum on the back of the restart of its Roan
Concentrator processing high-grade copper material as well as the expansion of its Munkoyo mining
operation. The Large Waste Project offers tremendous potential for Jubilee to significantly expand its
copper portfolio in Zambia. We have been considering carefully the optimal partner for the
implementation of the Project especially following the encouraging results of the due diligence review.
Jubilee has held extensive engagements with numerous interested parties on the best way to monetise
the project. The project has attracted keen interest from both metal offtake backed funding as well as
large multi-national copper producing entities interested to partner on the potential project.

The trade of this small quantity of material compared with the size of the asset (less than 5% of the
estimated contained material) not only demonstrates the potential value of the asset but also offers
Jubilee the opportunity to confirm the technical performance of the material through a large-scale
trial."



United Kingdom
3 April 2025

For further information visit www.jubileemetalsgroup.com, follow Jubilee on Twitter
(@Jubilee_Metals) or contact:
Jubilee Metals Group PLC
Leon Coetzer (CEO) / Jonathan Morley-Kirk (FD)
Tel: +27 (0) 11 465 1913 / Tel: +44 (0) 7797 775546

Nominated Adviser - SPARK Advisory Partners Limited
Andrew Emmott/James Keeshan
Tel: +44 (0) 20 3368 3555

PR & IR Adviser - Tavistock
Jos Simson/ Gareth Tredway
Tel: +44 (0) 207 920 3150

Joint Broker – RBC Capital Markets
Farid Dadashev/Jamil Miah
Tel +44 (0) 20 7653 4000

Joint Broker - Zeus Capital
Harry Ansell/Katy Mitchell
Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618

JSE Sponsor - Questco Corporate Advisory Proprietary Limited
Alison McLaren
Tel: +27 63 482 3802

Date: 03-04-2025 08:00:00
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