Togo Update

Keras Resources plc (AIM: KRS) is pleased to announce an update on the Nayéga manganese mine ("Nayéga") in northern Togo owned by Société Togolaise de Manganèse (STM), the Republic of Togo's ("State") 100% owned investment company.

Carrieres Mines Travaux Publics SA ("CMTP"), Nayéga's mining and logistics contractor, has now completed the dry commissioning of the Nayéga processing plant and has mobilised its mining fleet to the Nayéga mine site with the aim of starting mining activities by the end of June 2025 and is expected to be processing ore at an initial rate of 4,000 tonnes of saleable manganese for the first 3 months starting July 2025 and thereafter at nameplate capacity of 8,000 tonnes per month of saleable ore.

Keras signed a Cooperation Agreement in 2023 with the State whereby it will be paid an advisory fee of 1.5% of gross revenue generated from the Nayéga mine for the provision of advisory services for 3 years and 6.0% of gross revenue generated from the Nayéga mine for the provision of brokerage services for the lesser of 3.5 years or 900,000 tonnes of beneficiated manganese ore produced and sold from Nayéga

Russell Lamming, Interim Executive Chairman of Keras, commented, "The mobilisation of CMTP to site and the imminent production at Nayéga is very good news. The cashflow due under the Cooperation Agreement will underpin the progress and associated cashflows from the US operations. I look forward to updating shareholders in the near term."

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