REG - Mila Resources Plc - Exercise of Option with EMX

Mila ResourcesAnnouncement

20/10/2025 07:00

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RNS Number : 9288D  Mila Resources PLC  20 October 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.

20 October 2025

Mila Resources Plc

('Mila' or the 'Company')

Exercise of Option with EMX

Mila Resources Plc (LSE: MILA), the post-discovery gold exploration
accelerator, is pleased to announce that it will exercise its option to
acquire a one hundred percent interest in the portfolio of exploration
licenses from EMX.

Highlights

·    Mila to acquire 100% of Yarrol, Mount Steadman and Mount Weary
licences

·    Mila to pay EMX £110,000 in new shares to exercise the option;
locked up for 12 months

Option Exercise

As announced on 31 October 2024, the Company entered into an exploration and
option agreement ("EMX Option Agreement") with EMX Royalty Corp ("EMX") on 31
October 2024 granting Mila an option 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").

The Company has notified EMX of its intention to exercise the EMX option and
purchase 100% of the Exploration Portfolio. The exercise price of the option
is the issue of £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 ("30 Day VWAP"). The
definitive number of Option Fee Shares will be calculated as at 30 October
2025, and the Company will advise on the allotment of equity in due course.

The issue of the Option Fee Shares is conditional on completion of legal
transfer of title to the Exploration Portfolio and related licences and
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.

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 also agreed in the EMX Option Agreement to pay additional
consideration for the grant of the option to EMX if, following the initiation
of drilling on-site, Mila's share price exceeded 1.0p for more than 12
continuous trading days. Mila's share price has exceeded 1.0p since 25
September 2025. The new shares will be issued credited as fully paid at a
price equal to the volume weighted average price of Mila's ordinary shares
during thirty consecutive trading days ending on the day before the share
issue. A further announcement will made on the issue of these new shares in
due course.

Further information

The Company is now working with EMX to finalise the arrangements for the
transfer of the Exploration Portfolio and will update shareholders on the
expected completion of the option and the issue of the additional
consideration shares to EMX.

Mark Stephenson, Executive Chairman, Commented:

"We are pleased to acquire the Queensland licence package from EMX. The
encouraging results from our technical team at Yarrol, Mount Steadman and
Mount Weary have given us the confidence to exercise the option now and take
full ownership. With this in place, we can move ahead with greater flexibility
and focus, accelerating our plans to unlock the region's significant gold
potential. We believe these projects can deliver substantial value for the
Company and we look forward to announcing drilling results from Yarrol in the
coming weeks"

**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

 

 

 

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