Additional power supply secured for Roan re-start

Altx share code: JBL

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

Additional power supply secured for Roan to re-start

Jubilee, a diversified metals producer with operations in South Africa and Zambia, is pleased to announce that regulatory approval has been granted for its new power supply agreement in Zambia, with power delivery commencing on 20 January 2025. This important milestone enables the Company to restart the Roan concentrator and ensures a stable power supply going forward.

The additional power supply agreement, executed with a new broad based power provider, secures access to a distributed power base from multiple sources of generation, minimising the reliance on a single supply source and mitigates risks associated with localised power network distribution limitations. The power supply has been delivered at a cost comparable to the Company's existing power agreement, offering both economic and operational stability.

Highlights:

§ Power delivery commenced on 20 January 2025 following approval by the regulator under the new power agreement.

§ The additional power supply agreement is now fully operational and capable of meeting the complete power demands of both the Roan concentrator and the Sable processing plant, if required.

§ The power solution leverages a diversified network of power generation sources to ensure reliability and continuity of operations.

§ The company is actively preparing for the restart of the Roan concentrator, with copper production rates anticipated to return to target levels as operations ramp up.

Statement from Leon Coetzer, Jubilee CEO:

"The Jubilee team demonstrated great resilience in overcoming the recent power challenges at its Zambian operations. The commencement of the additional power supply successfully addresses current power supply limitations that affected Roan's ability to operate historically. We now turn our attention to preparing the plant for re-start and remain focused on delivering reliable production and operational resilience."

Jubilee Metals Group PLC

Leon Coetzer (CEO) / Jonathan 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