Update re Gunsynd Farm-In to Black Schist Project

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Metals One (AIM: MET1), which is advancing battery metal projects at brownfield sites in Finland and Norway, announces that Gunsynd Plc ("Gunsynd") has confirmed its commitment to making the first payment of £250,000 to FinnAust Mining Northern OY ("FinnAust"), a wholly owned subsidiary of Metals One, pursuant to the subscription and shareholders agreement (the "Agreement") between Metals One, FinnAust and Gunsynd, shortly.

The Agreement covers Gunsynd's commitment to subscribe for such number of shares in FinnAust as is equal to 25% of the voting rights of FinnAust, at an aggregate subscription price of £1,000,000.

FinnAust holds Metals One's Finland - Black Schist Project, with an Inferred Mineral Resource of 28.1 Mt of Talvivaara-type mineralised material at a grade of 0.19% nickel (53,800t), 0.10% copper (27,900t), 0.01% cobalt (3,400t) and 0.38% zinc (180,000t) at the Rautavaara licence.

A further announcement will be made upon receipt of funds.

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