Sale of Kangerluarsuk Project for up to US$2m

80 Mile PLC ("80 Mile" or the "Company"), the AIM, FSE, and OTC listed exploration and development Company, is pleased to announce it has entered into a definitive agreement to divest its 100% interest in the Kangerluarsuk zinc-lead-silver project in Greenland to Amaroq Minerals Ltd. ("Amaroq", AIM, TSXV, NASDAQ Iceland: AMRQ), a leading Greenland-focused mining company ("Transaction")

Under the terms of the agreement, 80 Mile will receive:

• US$500,000 in Amaroq Minerals shares upon completion, and
• US$1,500,000 in cash or shares upon the discovery of an economic deposit, as defined by a JORC or NI 43-101 compliant resource that supports development.

The total consideration represents up to US$2 million of potential value to 80 Mile shareholders.

Kangerluarsuk is a high-grade carbonate-hosted zinc-lead-silver project located on Greenland's west coast, within the historic Black Angel mining district. 80 Mile identified multiple untested geophysical anomalies on the property that are consistent with the style of mineralisation that supported historical production in the district.

Amaroq Minerals is a well-capitalised and technically proficient Greenland-focused explorer and developer, and 80 Mile is confident that their team is well-placed to unlock the value of the project through systematic exploration. Amaroq have announced this purchase and a proposed fundraising of £30.0 million in the announcement which can be found at this link: https://www.londonstockexchange.com/news-article/AMRQ/proposed-equity-fundraising-and-acquisition-of-additional-licences-to-create-a-new-west-greenland-hub/17081753

This transaction reflects 80 Mile's ongoing strategy to monetise non-core assets and focus on its priority projects, particularly the Disko-Nuussuaq nickel-copper-cobalt project, Hydrogen Valley, and the Jameson Land Basin Project. The proceeds will be directed toward advancing these core assets and further strategic initiatives.

AIM Rule 12

The Transaction is a substantial transaction for the purposes of AIM Rule 12 and the following Schedule Four disclosures are made: the book value of Kangerluarsuk was £98,195 in the unaudited results for the six months ended 30 June 2024 and the losses attributable to Kangerlursak as per the Company's audited accounts for the year ended 31 December 2023 were £2,485,947.

The Company intends to retain the shares in Amaroq for the foreseeable future and, in the event of a sale, the proceeds will be used for working capital purposes.