New Prospecting Licence in Botswana

Aterian plc (LSE: ATN), the critical mineral exploration and development company focused on Africa, is pleased to announce that it has been granted a new Prospecting Licence ("PL") within the highly prospective Kalahari Copper Belt ("KCB") in the Republic of Botswana ("Botswana"). The newly awarded licence is strategically located adjacent to exploration licences held by Sandfire Resources ("Sandfire"), a leading copper producer in the region, strengthens Aterian's rapidly growing copper portfolio and materially enhances the scale and optionality of its Botswana platform.

Key Highlights:

• New PL, covers 396.24km2, valid for three years, renewable thereafter.
• Adjacent to Sandfire Resources exploration projects.
• Evidence for several historical copper-in-soil anomalies.
• Total KCB portfolio currently stands at 11 PLs covering 2,694.58 km2.
• The KCB portfolio, including the new PL, will be reviewed under the new Lithosquare JV.
• Total Botswana landholding, including the Sua Pan lithium brine project, now stands at 5,211.51km2.

The licence, covering approximately 396.24 km2, was granted for an initial three-year period, renewable thereafter, and was held by Atlantis Metals (Pty) Ltd ("Atlantis"), a 90%-owned subsidiary of the Company. The PL potentially hosts geological and structural characteristics consistent with copper-silver mineralisation known across the KCB. Several copper-in-soil anomalies (> 18 ppm) are identified in historical MOD Resources reports (Q4/2017 Report). An initial review of available datasets is underway to identify prospective zones that warrant systematic exploration.

This award follows the Company's recently announced Joint Venture with Lithosquare ("Lithosquare JV"), which is designed to accelerate exploration funding and development across Aterian's Botswana and Morocco portfolio. The addition of this new PL provides further scale, increasing the optionality available under the JV structure, supporting the Company's strategy to build a robust pipeline of critical metal opportunities in a tier-one mining jurisdiction.

Aterian KCB Licence Portfolio Map

Aterian Executive Chairman Charles Bray commented:

"This is a highly accretive licence award for Aterian. Securing this ground in the Kalahari Copper Belt significantly enhances the strategic and geological quality of our Botswana portfolio. Coming immediately after the launch of our Lithosquare Joint Venture, this award adds further scale and optionality to a platform designed to accelerate discovery while managing capital efficiently. Given strengthening copper fundamentals, the KCB is emerging as one of the most exciting copper belts globally, and we believe Aterian is exceptionally well positioned to create substantial value from its growing KCB portfolio."

Next Steps

• Integration of the new PL into the Lithosquare JV regional exploration strategy
• Compilation and interpretation of historical and government datasets
• Planning of initial field activities, including geochemical and geophysical surveys
• Prioritisation of targets for future drilling programmes

Further updates will be provided to the market as the agreement progresses.

Aterian Plc:

Charles Bray, Executive Chairman - charles.bray@aterianplc.com

Simon Rollason, Director - simon.rollason@aterianplc.com

Financial Adviser and Joint Broker:

AlbR Capital Limited

David Coffman / Dan Harris

Colin Rowbury

Joint Broker:

SP Angel Corporate Finance LLP

Ewan Leggat / Adam Cowl

Financial PR:

Bald Voodoo - ben@baldvoodoo.com

Ben Kilbey

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