White Flame Energy Acquisition – Issue of Shares

80 Mile plc ('80 Mile' or the 'Company'), the AIM, FSE listed and Pink-Market traded exploration and development company with projects in Greenland, Finland and Italy, is pleased to provide an update on the acquisition of White Flame Energy Limited ("WFE").

Acquisition of White Flame Energy Limited

Further to the announcement dated 13 January 2025 relating to the acquisition of WFE, the Company has today issued an additional 11,246,910 new ordinary shares in the Company (the "Completion Shares") pursuant to the acquisition of WFE. 80 Mile now holds 96.64% of the issued capital in WFE.

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for admission of a total of 11,246,910 Completion Shares to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the Completion Shares will commence on AIM at 8.00 a.m. on or around 17 March 2025 ("Admission"). The Consideration Shares will be issued fully paid and will rank pari passu in all respects with the Company's existing ordinary shares of 0.01 pence each ("Ordinary Shares").

Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 3,935,570,185 with voting rights. 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's share capital pursuant to the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.