Accelerated Purchase Arrangement for NLZM Plant

Bezant Resources PLC ("Bezant" or the "Company") is pleased to announce it has concluded an agreement with CL US Minerals LLC (the "Vendor") for the accelerated payment related to the ownership of the NLZM Processing Plant. The NLZM Processing Plant, held under the new company name Tsaoxaub Metals (Proprietary) Limited, is completing the upgrade and repurposing of the former lead-zinc plant to process both copper sulphide and oxide preconcentrate from the Hope & Gorob mine site where a recent Mineral Resource Estimate update increased the life of mine ("LOM") of the initial Hope open pit to 35 years. First concentrate production remains on schedule for September 2026.

Highlights

• In-house estimates and industry feedback guided the original investment decision and projected a capital cost of approximately USD30 million and a build time of 24 months to obtain regulatory approval and to construct and commission a processing plant with a capacity similar to the NLZM Processing Plant.
• The new arrangement provides the motivation to consider further investment in an engineered and optimised processing plant to capitalise on the current Hope open pit resource with its 35-year LOM.
• The projected 35-year LOM does not include any anticipated open pit and underground extensions to the Hope pit, drill-ready targets over a 17 kilometre strike length within the current mining licence, the Gorob and Vendome Mineral Resources or any future discoveries in the exploration licences hosting more than 80km of host rock.
• Interest has been expressed by a third party for a co-investment in relation to the accelerated payment and arrangements are in the process of being finalised which would simplify the Company's financing and security arrangements. Once complete the Company will make an announcement.

Colin Bird Executive Chairman of Bezant commented: "This agreement is a major step forward in the consolidation of the corporate and financial arrangements for the Hope & Gorob mining venture. The objective of ownership will be met sooner rather than later providing the Company with total control and the flexibility to consider further productivity improvements through further upgrades and increased throughput capacity. We are delighted with the progress being made and we remain on track to commence concentrate production by the end of September 2026. We will keep shareholders updated as we progress through completion of construction, commissioning and production"

Accelerated Payment Arrangements

The accelerated payment schedule is for a payment of US$5M (approx. £3.7M) due by 31 October 2026. Interest has been expressed by a third party for a co-investment in relation to the accelerated payment and arrangements are in the process of being finalised which would simplify the Company's financing and security arrangements. Once complete the Company will make an announcement. Upon this payment the Vendor's security under the Share Purchase Agreement announced on 14 August 2025 will be released. A balance of US$4.98M (approx. £3.7M) shall be payable in quarterly instalments of US$415K (approx. £310K) commencing on 31 March 2029 and ending on 31 December 2031 ("Deferred Consideration").

The Company has the option to pay part or all of the Deferred Consideration early and will be granted a 12.5% per year early payment discount.

The Vendor has a 36 month option to elect for up to £2M of the Deferred Consideration to be settled by the issue of Bezant shares ("Conversion Shares") at a conversion price of £0.0013145 (the "Conversion Option"). The amount of the Deferred Consideration being settled will be based on the present value of the Deferred Consideration being settled discounted at 12.5% per year from its original payment date (the "Discount"). Any Conversion Shares, when issued, will be subject to a two month lock up.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310).

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