REG - Arc Minerals Limited - Extension of Exclusivity Agreement

ARC MineralsAnnouncement

03/11/2022 11:15

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RNS Number : 2353F  Arc Minerals Limited  03 November 2022

3 November 2022

Arc Minerals Ltd

('Arc Minerals' or the 'Company')

Extension of Exclusivity Agreement

Arc Minerals announces that, following the re-opening of the Zambian Mining
Cadastre office on 19 October 2022, the Cadastre published a schedule that it
will start receiving new applications for licenses from 21 November 2022.  As
a result of the Cadastre process and this new timeline Arc has extended the
exclusivity period under the Letter Agreement (the "Agreement") with Anglo
Exploration Zambia Ltd ("Anglo") to 8 February 2023, pursuant to which the
parties intend to form a joint venture with respect to the Company's copper
projects located in the North-Western province of Zambia (the "Joint
Venture"). The Companies are working to finalise and sign the proposed Joint
Venture documents in accordance with the Agreement as soon as possible and in
any event before the expiry of the extended exclusivity period. Further
information on the Agreement is included in the Company's announcement of 12
May 2022.

 

Until the signing of definitive Joint Venture documents, there can be no
guarantee that Arc Minerals or any company in its group will complete any
commercial transaction in relation to its Zambian assets.

 

Market Abuse Regulation (MAR) Disclosure

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.

**ENDS**

Contacts

 Arc Minerals Ltd                                 +44 (0) 20 7917 2942

 Nick von Schirnding (Executive Chairman)

 SP Angel (Nominated Adviser & Joint Broker)      +44 (0) 20 3470 0470

 Ewan Leggat / Adam Cowl

 WH Ireland Limited (Joint Broker)                +44 (0) 20 7220 1666

 Harry Ansell / Katy Mitchell

 

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