Final Completion of Anglo JV

Arc Minerals is pleased to announce the unconditional completion of its Joint Venture Agreement with a subsidiary of Anglo American plc (the "JVA") following satisfaction of the remaining conditions precedent as previously announced on 27 October 2023, including the cash payment of $3.5million due to Unico Minerals Ltd, a 67%-owned subsidiary of Arc.

Arc Minerals also announces that Ian Lynch has been appointed as non-board Chief Financial Officer and that Rémy Welschinger is stepping down as Finance Director with immediate effect in order to focus on his other ventures. Rémy will remain on the board of directors of the Company as a non-executive director.

Nick von Schirnding, Executive Chairman of Arc said: "I am delighted to announce that the Anglo American JV has now gone unconditional - a great milestone for our shareholders.

I welcome Ian as our CFO - he has been actively involved over the past few years with our finance team and brings extensive finance, legal and compliance experience. On behalf of the board I would also like to thank Rémy for his hard work over the past four years as our Finance Director both in financing the Company's projects and helping negotiate the Anglo American transaction."

Arc Minerals announces that it has issued 5,593,099 new ordinary shares of no par value in the share capital of the Company ("Ordinary Shares") as consideration to certain creditors (the "Shares").

Application will be made to the London Stock Exchange plc for the 5,593,099 Shares to be admitted to trading on AIM ("Admission") with Admission expected to occur on or around 16 November 2023. The New Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares including the right to receive any dividend or other distribution thereafter declared, made or paid. There are no Ordinary Shares held in treasury. Following Admission of the 5,593,099 New Ordinary Shares, the total number of voting rights in the Company will be 1,232,318,465.