Zambia Legal Update
Arc Minerals Limited announced a positive legal development in Zambia where the High Court set aside a consent judgment that had transferred a portion of an exploration license owned by Handa Ltd to Lunda Resources Ltd. This ruling, which followed a challenge by Arc and its co-plaintiffs on grounds of natural justice and lack of involvement, removes an irregularly obtained judgment concerning an interest not considered material to Arc's portfolio, representing a significant step in addressing vexatious attempts to disrupt exploration activities.
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Arc is pleased to provide an update on certain of the legal cases being progressed in Zambia.
On 17 November 2025, the High Court in Zambia set aside in full a previously entered consent judgement which transferred a portion of an exploration license, legally owned by Handa Ltd, to Lunda Resources Ltd (the "Affected Interest"). The Affected Interest is not considered a material part of Arc Mineral's portfolio.
The ruling followed a successful challenge by Arc and its co-plaintiffs on the basis that the consent judgement had been entered into without their involvement as the shareholders of Handa and contrary to principles of natural justice.
This is a positive legal outcome for the Company in removing what the Company considers to have been an irregularly obtained consent judgement through overreach by a provisional receiver, whose appointment has since been stayed (see announcement dated 15 August 2025).
Further updates will be provided as appropriate.
Nick von Schirnding, executive chairman of Arc, commented:
"The setting aside of a judgement to transfer a portion of one of our licenses represents a major step forward for Arc as we deal with a former shareholder's vexatious attempts to disrupt our exploration activities. It is of great comfort that we operate in a jurisidiction where a strong judiciary and adherence to the rule of law prevails."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.