REG - Mila Resources Plc - Exercise of Option with EMX Update

Mila ResourcesAnnouncement

Yesterday 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251104:nRSD0137Ga&default-theme=true

RNS Number : 0137G  Mila Resources PLC  04 November 2025

Certain information contained within this Announcement is deemed by the
Company to constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon
publication of this Announcement, this information is now considered to be in
the public domain.

 

4 November 2025

Mila Resources Plc

 

('Mila' or the 'Company')

 

Exercise of Option with EMX Update

 

Mila Resources Plc (LSE: MILA), the post-discovery gold exploration
accelerator, is pleased to announce that it has now exercised the EMX Option
Agreement ("EMX Option Agreement") with EMX Royalty Corp ("EMX") granting Mila
the right to acquire exploration licences relating to three project areas in
Queensland, Australia: Yarrol (EPM8402, EPM27561, EPM28230 and EPM28658),
Mount Steadman (EPM12834 and EPM27750) and Mount Weary (EPM26317 and EPM27252)
(collectively the "Exploration Portfolio").

 

As a result of the exercise of the EMX Option Agreement, The Company shall
issue EMX with 7,096,774 new ordinary shares being £110,000 of new Mila
ordinary shares ("Option Fee Shares") valued by reference to the volume
weighted average price of the Company's listed shares during thirty
consecutive trading days ending on 30 October 2025 ("30 Day VWAP") of 1.55
pence per share.

 

The Option Fee Shares will be issued and allotted  conditional on completion
of legal transfer of title to the Exploration Portfolio, therefore, the
Company shall apply for the admission of the Option Fee Shares to the Equity
(Transition) category of the Official List and to trading on the main market
of the London Stock Exchange ("Admission") in due course following the
completion of all conditions.

 

The Option Fee Shares issued to EMX are subject to a lock up for twelve months
from the date of admission to trading.

 

Issue of Equity to EMX regarding Share Price

The Company has also issued EMX , conditional on Admission, 3,225,806 new
ordinary shares ("Additional Consideration Shares") at an issue price of 1.55
pence due to EMX under the terms of the EMX Option Agreement because of Mila's
share price exceeding 1.0p for more than 12 continuous trading days. Mila's
share price has exceeded 1.0p since 25 September 2025.

 

The Additional Consideration Shares were issued at 1.55 pence, being the 30
Day VWAP.

 

Admission and Total Voting Rights

The 3,225,806 Additional Consideration Shares are expected to be admitted to
the Equity (Transition) category of the Official List and to trading on the
main market of the London Stock Exchange from 8.00 a.m. on 10 November 2025.

 

The Company hereby notifies the market, in accordance with the FCA's
Disclosure Guidance and Transparency Rules, that on Admission, the Company's
enlarged share capital will consist of 672,060,922 Ordinary Shares, each with
one vote. The Company does not hold any Ordinary Shares in Treasury. On
Admission, the total number of voting rights in the Company is expected to be
672,060,922 and this 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.

 

Mark Stephenson, Executive Chairman, commented:

"Securing the Queensland licence package from EMX marks an important step for
Mila.  We recently hired our own team at Yarrol and now that we are in
control of the licence package we can more forward and determine our own
strategy for exploration and development.

 

"Recent drilling results and those from our recent drilling that are awaiting
assay have strengthened our conviction in the licence package and full
ownership gives us the flexibility to accelerate work programmes and unlock
value at pace. These projects have all the hallmarks of meaningful resource
opportunities, and we are eager to demonstrate that potential with further
drill results from Yarrol."

 

**ENDS**

 

For more information visit www.milaresources.com or contact:

 Mark Stephenson              info@milaresources.com (mailto:info@milaresources.com)

 Mila Resources Plc
 Jonathan Evans               +44 (0) 20 7100 5100

 Tavira Financial Limited
 Nick Emerson                 +44 (0) 20 3143 0600

 SI Capital
 Damon Heath                  +44 (0) 20 3971 7000

 Shard Capital Partners LLP
 Susie Geliher / Will Turner  +44 (0) 20 7236 1177

 St Brides Partners Limited

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOEPKNBBDBDBBDK



            Copyright 2019 Regulatory News Service, all rights reserved