Extension of Major Shareholder Lock-in Agreements

Metals One (AIM: MET1), which is advancing battery metal projects at brownfield sites in Finland and Norway, is pleased to announce that shareholders representing in aggregate over 30% of the Company's issued share capital have agreed to extend their lock-in agreements through to 31 December 2025.

As set out in the Company's Admission Document dated 25 July 2023 ("Admission Document"), Bluejay Mining Plc ("Bluejay"), which holds 62,500,000 shares, had consented to a lock-in agreement for a period of one year following the Company's admission to AIM on 31 July 2023 ("Admission"). Bluejay has now agreed to extend the terms of its lock-in agreement until 31 December 2025.

As also set out in the Admission Document, 3 Mile Beach Limited ("3 Mile"), which holds 17,500,000 shares, had consented to a lock-in agreement for a period of six months following the Company's Admission. 3 Mile has also agreed to extend the terms of its lock-in agreement until 31 December 2025.

In both cases, the extended lock-in supersedes the orderly market undertakings given at the time of Admission.

Daniel Maling, Chief Financial Officer of Metals One, commented:

"This is a tremendous endorsement of two key shareholders ahead of maiden drilling results anticipated from the Black Schist Project in Finland. We are grateful for the continuing support of Bluejay and 3 Mile. They share our excitement for the long term value creation opportunity that exists to develop nickel resources in Europe to supply European EV manufacturers with high quality, traceable raw materials. We look forward to updating the market on drilling results and forward strategy soon."

Eric Sondergaard, Managing Director of Bluejay, added:

"Dan Maling and the Metals One team have done a great job in getting the Company listed and work programmes funded in difficult market conditions which have persisted in the months following Admission. We are impressed by the exploration activity to date. We are committed to realising the full value potential of the Black Schist Project via Metals One and this is reflected in our agreement to remain locked-in for another couple of years."

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