Commercial Production Gains Momentum at Limeco

Firering Strategic Minerals plc, an emerging leader in quicklime production and critical mineral exploration, is pleased to report significant progress in the commercial ramp-up of its Limeco quicklime project in Zambia ("Limeco" or the "Project"). The Project is well-positioned to become a key supplier of high-quality quicklime ("CaO") to the rapidly expanding copper production sector in the Central African Copperbelt.

Highlights

• High-quality quicklime produced with CaO sample purity levels reaching over 90%, well above the accepted target for metallurgical processes of 80% or higher.
• Achieved production of commercial grade quicklime, paving the way for initial sales.
• Optimisation of Kiln 1 progressing, with daily output steadily increasing.

Yuval Cohen, Chief Executive of Firering, commented: "I'm very pleased with the continued progress at Limeco, where the optimisation of Kiln 1 is advancing, and daily output is steadily increasing. While slightly behind schedule, the lessons learned will streamline commissioning of the remaining seven kilns. With commercial-grade quicklime now being produced, we are seeing strong interest from major mining companies and traders and anticipate first sales in the coming weeks - an important step towards becoming a key quicklime supplier to the Central African Copperbelt and beyond."

Project Update

Limeco continues to deliver on its phased production strategy, with the long-term goal of becoming Zambia's leading quicklime producer, targeting 600-800 tonnes per day by Q1 2026. Following the successful commissioning of Kiln 1 (see RNS dated 19 February 2025), output at the kiln has been steadily increasing, with current production exceeding 50 tonnes per day.

In-house laboratory analyses confirm that quicklime quality is consistently strong, with CaO sample purity levels reaching over 90%, well above the accepted target for metallurgical processes of 80% or higher. Accordingly, commercial-grade samples have been distributed to several major copper producers and quicklime traders and initial sales are expected to commence shortly, marking a significant step forward in Limeco's commercial rollout strategy. For commercial confidentiality, spot sales pricing and customer details will only be disclosed as required for regulatory purposes.

Firering Strategic Minerals plc, an AIM-quoted resource company, is scaling up production at Limeco, its quicklime project in Zambia, targeting a daily output of 600-800 tonnes of quicklime. With over US$100 million in historical investment, the project is strategically positioned to support the expanding copper producers in the Zambian Copper Belt, which are currently reliant on imported quicklime from South Africa. Firering currently holds an SPA over a 20.5% stake in Limeco Resources Limited ("Limeco") with 16.7% already paid and a further 3.8% to be paid prior to 30 April 2025 and an option to increase this to 45%. Additionally, the Company is advancing the Atex Lithium-Tantalum Project in northern Côte d'Ivoire, an exploration project rich in lithium and tantalum-niobium, with drilling results indicating significant resource potential in this established mining jurisdiction.