REG - Jubilee Metals Group - Molefe Mine Update and Investor Presentation

Jubilee MetalsAnnouncement

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RNS Number : 5505H  Jubilee Metals Group PLC  09 June 2026

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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Molefe Mine Operational Update and

Investor Presentation

 

 

Jubilee, the integrated copper producer and resource developer in Zambia, is
pleased to provide an operational update on the Molefe Mine in Zambia as part
of its integrated mine-to-metals copper strategy.

 

Highlights

 

§ Run-of-mine (ROM) deliveries to Sable refinery and refining activities
recommenced following the successful expansion of Pit 2 as part of the
pre-stripping under the updated mine plan to combine Pits 2 and 3

§ The delivery of high-grade (HG) ROM to the Sable refinery increases to a
targeted 6 000tpm for June, stepping up to 8 500tpm by August to reach 10
000tpm by October 2026, which equates to more than a 100% increase in ROM
deliveries to Sable

§ Combined mined copper reef is set to reach 60 000t per quarter post
completion of the combination of Pits 2 and 3 at an average stripping ratio of
6:1

§ Next development phase will focus on

o  on-site ore sorting and processing to support better segregation of HG ore
with improved copper recovery and overall project economics; and

o  resource definition drilling activities expanding across the greater
Molefe district and additional exploration properties

§ A JORC-compliant resource is expected following completion of the Phase 2
drilling programme, currently targeted for Q4 CY2026, subject to the timely
receipt of assay results

§ Molefe continues to validate Jubilee's scalable mine-to-metals copper
growth strategy for replication across Zambia

 

Statement from Leon Coetzer, Jubilee CEO:

 

"The recommencement of ROM deliveries from Molefe Mine to the Sable refinery
marks a significant milestone in the continued expansion of Jubilee's Zambia
copper strategy and demonstrates the rapid progress being achieved at Molefe
Mine under the updated mine plan.

 

Molefe Mine is evolving into a cornerstone asset within our integrated
mine-to-metals platform, with the operation on track to achieve a meaningful
step-up in production over the coming months. The integration of Pits 2 and 3,
together with the ongoing pre-strip programme, positions Molefe Mine to
support sustained growth while enhancing feed flexibility to the Sable
refinery.

 

Importantly, Molefe Mine represents the first implementation of Jubilee's
scalable copper growth model in Zambia. Our strategy is to mine while we
explore, expanding both production and the resource base simultaneously.
Through the addition of on-site ore sorting, future processing capabilities
and district-wide resource expansion, we are establishing a blueprint that we
believe can be replicated across multiple copper opportunities within the
region."

 

Operational update

 

The Molefe Mine (Molefe) represents the first implementation of Jubilee's
scalable mine-to-processing strategy in Zambia. The Company's Pillar 2 model
(integrated mine-to-metals business: Sable refinery and mining operations) is
based on mining while simultaneously exploring and expanding the resource
base, creating a repeatable hub-and-spoke development model designed for
replication across additional copper opportunities in the region.

 

Following the commencement of initial stripping activities under the updated
mine plan, ROM deliveries from Molefe to the Sable refinery have recommenced.
The first ROM has now been delivered to the Sable refinery and refining
activities have resumed.

 

The accelerated pre-strip programme, which commenced in April 2026, remains on
track for completion during July 2026 and is aimed at supporting increased
sustained production and improved feed supply to the Sable refinery.
Development work to integrate Pits 2 and 3 into a single enlarged open-pit
operation continues to progress well.

 

The updated mine plan has been optimised to target a broader reef package,
enabling the extraction of increased copper volumes across both high and
medium-grade material. Upon completion of the pit integration and development
programme, Molefe is expected to ramp-up from approximately   12 000t per
quarter of HG ROM to in excess of 30 000t per quarter of HG Cu reef ore
delivered to Sable. Molefe remains on track to increase ROM deliveries to
approximately 6 000t for June 2026, increasing to approximately 8 500t by
August 2026, targeting steady-state of 10 000tpm delivered to Sable by October
2026. The production ramp-up profile includes both newly mined ROM and
strategic stockpiled material as Molefe transitions toward integrated on-site
ore sorting and processing capabilities of both the HG and lower-grade ROM.

 

The next phase of development at Molefe is focused on advancing on-site ore
processing capabilities. This strategy is expected to be implemented in two
stages, beginning with on-site ore sorting to better distinguish between
high-grade and lower-grade material, followed by targeted on-site processing
of lower-grade material aimed at maximising copper recovery and enhancing
project economics.

 

In parallel, Jubilee is expanding the scope of resource definition activities
across the greater Molefe district targeting the additional exploration
properties secured within the district area. Ongoing drilling and exploration
activities are intended to support future mine expansion and establish a
larger resource-backed copper platform.

 

The independent third-party is expected to compile a JORC-compliant resource
following completion of the Phase 2 drilling programme, with the competent
person's report currently targeted for Q4 CY2026, subject to the timely
receipt of assay results.

 

Investor Presentation

 

The Company will be hosting a live investor presentation on the Molefe Mine
tomorrow, 10 June 2026, at 14:00p.m. UK time, 15:00p.m. South Africa time, via
the Investor Meet Company platform.

 

The presentation will provide investors with an overview of the Molefe Mine
and its role within Jubilee's integrated Zambia copper strategy, including
recent operational progress, the updated mine plan, production ramp-up
milestones, ongoing drilling and resource development activities, and the
integration of the mine into the Sable refinery.

 

Investors can sign up to Investor Meet Company at no cost at
https://bit.ly/3kT8Fb9 (https://bit.ly/3kT8Fb9) . Investors who already follow
Jubilee Metals on the Investor Meet Company platform have automatically been
invited.

 

 

9 June 2026

 

For further information 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 - Zeus Capital

Harry Ansell/Katy Mitchell

Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618

 

Joint Broker - Shard Capital Partners LLP

Erik Woolgar/Gareth Burchell

Tel +44 (0) 207 1869900

 

JSE Sponsor - Questco Corporate Advisory Proprietary Limited

Alison McLaren

Tel: +27 63 482 3802

 

About Jubilee Metals Group

 

Jubilee Metals, listed on AIM and the Altx of the JSE, is a copper producer
focused on building a world-class integrated copper business in Zambia. The
Company aims to reach 25 000 tonnes per annum of copper production by
integrating exploration, mining, concentrating and refining through its
three-pillar strategy, combining the Roan concentrator, the Sable refinery and
regional mining assets and the Large Waste Rock Project. Led by an experienced
team, Jubilee applies innovative technologies to transform previously
underutilised materials into value while supporting circular resource use and
strong environmental stewardship.

 

For further information, please visit www.jubileemetalsgroup.com
(http://www.jubileemetalsgroup.com) and follow Jubilee on X at @Jubilee_Metals

 

 

 

 

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