Alba Completes Further Motzfeldt Acquisition

Alba Mineral Resources plc (AIM: ALBA), the gold and critical raw materials focused exploration and development company, is delighted to confirm that the Greenland Government has approved the Company's acquisition of a controlling 51% interest in the Motzfeldt Critical Metals Project in south Greenland ("Motzfeldt" or the "Project").

Further to the Company's announcement of 28 October 2025, this approval was the final condition required to be satisfied for Alba to proceed to complete the acquisition of a further 25.5% interest in the Project and thereby increase its interest to a total of 51%. Consequently, the Company has now proceeded to the Completion of this acquisition.

The Greenland Government has also confirmed that the Project's exploration licence has formally progressed into its second five-year term, covering the period from 2026 to 2030 inclusive.

Dr Curtis Rooks, Alba's Principal Geologist, commented:

"The completion of Alba's acquisition of a majority interest in the Motzfeldt Project marks a major milestone for the Company. Motzfeldt is one of only five projects in Greenland to be granted 'very large deposit' status[1] and is regarded as one of the country's most important critical mineral projects.

"Our recent confirmation of high-grade results for multiple critical metal commodities at the Merino prospect, together with the existing defined resource at the Aries deposit, further underlines Motzfeldt's potential as a large-scale polymetallic project across an extensive licence area.

"We look forward to providing further updates regarding our ambitious work programme for the remainder of the year as we advance Motzfeldt firmly towards the next stage of development."

Issue of Consideration Shares and Admission to trading

In accordance with the terms set out in the Company's RNS dated 28 October 2025, 2,146,103,977 new ordinary shares in Alba have been issued ("Consideration Shares"). It is expected that Admission of the new ordinary shares will become effective at 8.00 a.m. on or around 20 May 2026. The Consideration Shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after Admission and will otherwise rank on Admission pari passu in all respects with the existing ordinary shares.

Total Voting Rights

Following Admission of the Consideration Shares, the total number of ordinary shares in issue will be 25,981,154,208. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares with voting rights will be 25,981,154,208. This figure may be used by shareholders in the Company 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 share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Directors' Holdings

George Frangeskides and his connected parties will receive 1,814,703,811 Consideration Shares. Therefore, following Admission of the Consideration Shares, the total number of ordinary shares in issue which are held by George Frangeskides and his spouse will be 1,978,057,105 representing 7.6% of the enlarged issued share capital. The Directors' interests in aggregate shall amount to approximately 7.9% of the enlarged issued share capital.

Notification of Dealings by Persons Discharging Managerial Responsibilities and their Closely Associated Persons

[1] Source: Geological Survey of Denmark and Greenland, GEUS.