REG-Anglesey Mining Plc: Completion of £4 million Debt Settlement Agreement

Anglesey MiningAnnouncement

Today 07:02

25 February 2026

Anglesey Mining plc

("Anglesey" or the "Company")

 

Completion of £4 million Debt Settlement Agreement

 

Anglesey Mining plc (AIM:AYM), the UK minerals exploration and development
company, is pleased to announce the completion of the previously announced
debt restructuring transaction (the "Restructuring"), which has now
successfully eliminated liabilities totalling approximately £4 million from
the Company's balance sheet.

Anglesey no longer has any outstanding debt, other than approximately
£100,000 secured against a residential property at Parys Mountain.

Highlights
*            Approximately £4 million of debt eliminated          
*            Anglesey now wholly focused on 100%-owned Parys Mountain
copper-zinc-lead-gold project          
*            Immediate emphasis to be placed on the following initiatives:    
      *              Exploration to include local and regional aerial
geophysics with ground follow up            
*              Shaft dewatering as part of overall mine development           

*              Updating of current JORC-compliant mineral resources model with
existing core log analysis             
*              Continuing to develop our plans for an innovative pumped
storage scheme with RheEnergise
Rob Marsden, Chief Executive of Anglesey, commented:                          
                                    "We have turned a corner at Anglesey by
eliminating the debt long overhanging our balance sheet.                      
                                         We are now well positioned to focus
entirely on our core asset, the Parys Mountain copper-zinc-lead-gold project
and to deliver an exploration and development strategy for our shareholders."

Energold Investment

In connection with the Restructuring, Energold completed an investment of
£350,000 in Anglesey on 11 December 2025 through the purchase of exchangeable
warrants priced at approximately 7.6 pence each (price adjusted for recently
completed share consolidation). Anglesey agreed to convene a General Meeting
in order to approve, inter alia, a resolution allowing a consolidation of the
issued share capital of the Company. The meeting held on 12 February 2026
approved a consolidation whereby every ten ordinary shares was replaced by one
ordinary share. The consolidation became effective on 13 February 2026. The
consolidation allows Energold the right but not the obligation to exchange
some or all of its warrants for ordinary shares on a one-to-one basis; should
Energold elect to exercise all of its warrants, Energold would control 26.6%
of the enlarged share capital of Anglesey.

Details of the Restructuring

Following negotiations between Energold and Anglesey, the parties agreed to
enter into the Debt Settlement Agreement pursuant to which Anglesey agreed, as
full and final settlement of the outstanding amounts owed to Energold, to (a)
transfer to Energold (i) its shareholding in Angmag AB ("Angmag", the
subsidiary through which Anglesey held its investment in Grängesberg Iron AB
("GIAB")) and (ii) its shareholding in Labrador Iron Mines Holdings Limited,
and (b) assign to Energold all intercompany amounts owed to Anglesey by Angmag
and GIAB

The transfer of Anglesey's shareholding of Angmag to Energold was subject to
approval by the Swedish authorities, which has now been received. Energold
terminated the Juno Investment Agreement dated 16 May 2022 following
completion of these transfers and assignments.

Following completion of the above steps, Anglesey no longer has any material
outstanding debt, other than approximately £0.1 million secured against a
residential property at Parys Mountain.

For further information, please contact:

Anglesey Mining plc

Rob Marsden, Chief Executive Officer - Tel: +44 (0)7531 475111

Andrew King, Chairman - Tel: +44 (0)7825 963700

 

Davy

Nominated Adviser & Joint Corporate Broker

Brian Garrahy / Daragh O'Reilly - Tel: +353 1 679 6363

 

LEI: 213800X8BO8EK2B4HQ71



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