Exercise of Warrants

Altx share code: JBL

('Jubilee ' or 'the Company ' or 'the Group ')

Exercise of Warrants

Jubilee Metals Group ("Jubilee" or the "Company" or the "Group"), the AIM and Altx traded metals processing company is announcing that it has received notification from warrant holders to exercise 4 750 000 and 750 000 existing warrants in the issued share capital of Jubilee ("the Warrant Shares") at a price of 4 pence (ZAR913 cents) and 3.4 pence (ZAR776 cents) respectively per Warrant Share. The exercise of Warrant Shares amounts, in aggregate, to a cash value of £215 500 (ZAR4.9 million).

The Warrant Shares are expected to be admitted to trading on AIM and listed on the Altx of the JSE Limited on or about Tuesday, 26 November 2024 and will rank pari passu with the ordinary shares of the Company in issue.

Following the admission of the Warrant Shares, the remaining warrants consist of 4 036 431 issued at 13 pence and 22 279 492 issued at 7.14 pence.

Total voting rights

The Company's total issued capital, after the issue of the Warrant Shares, will be 3 011 159 155 ordinary shares. As the Company does not hold any shares in Treasury, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company following Admission.

Jubilee Metals Group Plc

Leon Coetzer (CEO)/Jonny Morley-Kirk (FD)

Nominated Adviser - SPARK Advisory Partners Limited

Andrew Emmott/James Keeshan

PR & IR Adviser - Tavistock

Jos Simson/ Gareth Tredway

Joint Broker - RBC Capital Markets

Farid Dadashev/Jamil Miah

Tel +44 (0) 20 7653 4000

Joint Broker - Zeus Capital

Harry Ansell/Katy Mitchell

JSE Sponsor - Questco Corporate Advisory Proprietary Limited

Alison McLaren