Appointment of Financial Adviser and Sponsor

Atlas Metals (LON: AMG), the natural resources and energy company, is pleased to announce the appointment of Strand Hanson Limited ("Strand Hanson") as Financial Adviser and Sponsor in connection with the proposed acquisition of Universal Pozzolanic Silica Alumina Ltd ("UPSA") (the "Transaction").

The Transaction constitutes a reverse takeover pursuant to the listing rules of the Financial Conduct Authority ("FCA") and the appointment of Strand Hanson, an independent, advisory-led, modern merchant bank, regarded as a leading mining advisory team, also supports Atlas Metals in this reverse takeover and move from the equity shares (transition) category to the equity shares (commercial companies) category of the Official List of the FCA and its re-admission to trading on the main market for listed securities of London Stock Exchange plc.

Chris Chadwick, Atlas Metals CEO commented:

"The appointment of Strand Hanson underscores the quality and strategic importance of this transaction for Atlas Metals and the broader London market. Further updates on the progress of the Transaction can be expected in due course."

Background on UPSA

UPSA is a private company incorporated in England and Wales, formed in May 2023, with core teams in both Australia and the UK. UPSA has the rights to a substantial pozzolanic silica alumina sand resource ("PSA") located in the Yammacoona Sand Quarry (also known as the Warialda Quarry) approximately 12 kilometres south of Warialda, New South Wales, Australia, both as extracted and as off-take, for a period of 99 years from June 2023, having acquired those rights from Claystone International Pty Ltd ("Claystone International"), an Australian proprietary company owned by Mr William Clift. UPSA intends to market that resource worldwide. The initial development application was granted to Mr William Clift (both he and Claystone International being shareholders of UPSA) on 15 April 1988, providing consent for extractive industry activities on Lots 5, 6 and 7 in DP 264346 of the Yammacoona Sand Quarry. UPSA and Claystone International will seek further development consent (under the State Significant Development legislation) in respect of Lots 5, 6, 7 and 8 to increase production dramatically from the current 35,000 tonnes annual extraction limit.

UPSA's Product

The use of pozzolanic volcanic ash as a super-binding additive in concrete-mixing process has been known for over two millennia, as evidenced by countless Roman structures that still stand today.

In a world increasingly committed to reduction of carbon emissions, the construction industry is actively seeking solutions to make the built environment more sustainable. 'Greening concrete' and the decarbonisation of concrete has emerged as a major goal.

Concrete manufacturing is estimated to contribute up to 8% of global annual CO₂ emissions. UPSA's PSA resource replaces approximately 40% of cement concrete production leading to significant carbon emissions savings. This enables governments and developers to construct strong, durable structures, deploying PSA, designed to last for centuries rather than decades, with the additional benefit of carbon credits once accredited and verified by a designated agency. UPSA will market its PSA resource to clients for sustainably constructing, designing, building, and operating projects to minimise environmental impacts while maximising long-term structural benefits.