Additional Mining Right Granted at Kamiesberg

Amigo Resources PLC (LSE: AMGO) is pleased to announce that Zirco Roode Heuwel (Pty) Ltd ("Zirco Roode"), the holder of the Kamiesberg Mineral Sands Project in the Northern Cape Province of South Africa (the "Kamiesberg Project"), has been granted a 20-year mining right over the Sabies and Langkuil properties, resulting in all four properties of the Kamiesberg Project now being covered by mining rights.

As announced on 28 September 2026, the Company's subsidiary, Rare Earths Development Pte Ltd ("Amigo SPV"), has entered into a share purchase agreement to acquire 100% of the Kamiesberg Project through the acquisition of the equity of Zirco Resources (SA) Holdings (Pty) Ltd and Cyndara 14 (Pty) Ltd (the "Proposed Acquisition").

Highlights

• Mining right granted: the DMPR has granted Zirco Roode a mining right over the Sabies and Langkuil properties under section 23(1) of the Mineral and Petroleum Resources Development Act, 2002 (the " MPRDA ").
• 20-year term: the mining right was granted from 30 September 2026 for a period of twenty (20) years.
• All of Kamiesberg Project now under a mining right: together with the existing mining right over the Roode Heuvel and Leeuvlei properties, all four properties comprising the Kamiesberg Project, totalling approximately 26,709 hectares, are now covered by mining rights.

Mining Right Approval

The mining right was granted in respect of application NC 10249 MR, lodged by Zirco Roode under section 22 of the MPRDA, and covers the Sabies and Langkuil properties, situated within the Administrative District of Namaqualand.

Prior to the mining right being granted, the Sabies and Langkuil properties, totalling approximately 14,390 hectares, were held under prospecting rights and/or mining right applications.

The mining right includes monazite and rare earth elements together with the broader heavy mineral sands assemblage present at the Kamiesberg Project.

Zirco Roode will now work with the South African Department of Mineral and Petroleum Resources (the "DMPR") to, amongst other things, execute the mining right before a public notary and lodge it for registration at the Mineral and Petroleum Titles Registration Office.

The grant of the mining right results in all properties comprising the Kamiesberg Project being held under mining rights.

Proposed Acquisition Update

Completion of the Proposed Acquisition remains subject to the Completion Conditions set out in the Company's announcement of 28 September 2026, including Shareholder approval, publication of the Prospectus, Re-admission and the consent of the Minister under section 11 of the MPRDA to the change of control of Zirco Roode.

The grant of the mining right removes a key permitting risk associated with the Kamiesberg Project ahead of Completion of the Proposed Acquisition.

The Company continues to target Completion of the Proposed Acquisition on or before 31 January 2027.

Capitalised terms not defined in this announcement have the meanings given to them in the Company's announcement of 28 September 2026.

Directorship Change

Nicholas Beal has stepped down as a Director of the Board of Directors of the Company with effect from today. Mr Beal, who has been with the Company for more than 15 years, remains with the Company in his full-time employment capacity and will continue as Company Secretary, focusing on the Group's corporate secretarial functions.

Craig Ransley, Executive Chair of Amigo, commented:

"The grant of the mining right over Sabies and Langkuil is a significant de-risking milestone for the Kamiesberg Project.

With mining rights now in place across the full project area, the Company is well positioned to advance its phased, modular development strategy following Completion.

The Company continues to work through the Completion Conditions with the target Completion of the Proposed Acquisition on or before 31 January 2027.

The Company is finalising installation and commissioning and look forward to providing shareholders with imminent updates."