Oversubscribed Placing of £1.5m

Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is considered to be in the public domain.

Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources

Mila Resources Plc

('Mila' or the 'Company')

Oversubscribed Placing of £1.5m to accelerate the Queensland Portfolio

Mila Resources Plc (LSE: MILA), the post-discovery gold exploration accelerator, announces that it has raised gross proceeds of £1.5 through a Placing of 125,000,000 New Ordinary Shares of 0.1 pence each ("Placing Shares") at a placing price of 1.2 pence per Placing Share (the "Placing").

Use of Funds

The use of proceeds will be used to accelerate the Company's gold and copper portfolio in Queensland, Australia; namely, building the gold resource at the Yarrol Gold Project ("Yarrol"), exploration drilling at the Monal Copper-Gold Project ("Monal"), and further exploration across the licence area.

The Company is targeting completion of its maiden mineral resource estimate ("MRE") at Yarrol in Q4 2026. This funding will allow the Company to rapidly accelerate further resource drilling with the aim of delivering additional gold resources beyond the planned MRE and "step out" to targeted areas to drive the gold resource inventory. In parallel, the Company is planning to drill test the highest-priority copper-gold targets at Monal following highly encouraging exploration data. Finally, funding will also be dedicated to the systematic exploration and evaluation of additional new regional targets across its broader licence portfolio and for general working capital.

The Warrants

The Company also proposes to issue one Warrant for every one Placing Share in the Placing. Each Warrant grants the holder the right to subscribe for one additional new Ordinary Share at a price of 2 pence per new Ordinary Share. The Warrants will not be traded on any exchange and shall be in a certificated format.

The Warrants may not be exercised prior to 1 March 2027 and have an accelerator clause. If the closing mid-market price of the Company's shares is sustained at greater than £0.03 for ten consecutive trading days, the Company may choose to force the execution of the Warrant. The Company is obliged to write to each Warrant holder providing ten calendar days' notice to exercise the Warrants (the "Notice"), after which each Warrant holder will have up to 21 days to pay for the exercise of their Warrants, subject to the terms of the Warrant Deed. Warrants for which notice of execution is not given within seven days from the date of Notice will be forfeited.

If the accelerator clause is not triggered, the Warrants have a life of 36 months from the date of Admission.

Mark Stephenson, Executive Chairman of Mila commented: "We are delighted by the strong response to this fundraising, from both our existing shareholders and several new investors. The level of demand has enabled the Company to upsize the Placing, providing Mila with additional capital to accelerate the advancement of our Queensland portfolio and importantly gives us the scope to build out beyond our anticipated MRE this year.

"The support we have received is a strong endorsement of our strategy and the significant potential we see across our Queensland portfolio. We are on the cusp of building meaningful value at Yarrol, albeit we have only really drilled a very small proportion of the 20km strike. Also, Monal is now emerging as another strong project with some high-ranking copper-gold drill targets.

"These funds allow us to confidently accelerate our exploration programme and continue building value. We look forward to updating shareholders as we deliver the next phase of our growth."

Admission and Total Voting Rights

An application has been made for the Placing Shares to be admitted to trading on the Official List and the London Stock Exchange with effect from 8.00 a.m. on 11 September 2026 ("Admission").

In accordance with the FCA's Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company's enlarged issued ordinary share capital will comprise 862,560,922 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA's Disclosure Guidance and Transparency Rules.

The Company has also issued 7,500,000 broker warrants that are exercisable at the Placing Price for a period of two years from Admission ("Broker Warrants").