Management Team Strengthened: New Regional Manager

Neo Energy Metals plc, the near term, low-cost uranium developer, is pleased to announce the immediate appointment of Mr Jeremia ("Jerry") Cloete as the Company's Southern Africa Regional Manager for its advanced Henkries Uranium Mine ("Henkries") located in the Northern Cape Province of South Africa.

OVERVIEW

• NEO Energy management team strengthened and expanded with immediate appointment of Mr Cloete as Regional Manager
• Mr Cloete will be responsible for the day-to-day management of the Company's exploration, mine development and administration and operational activities at Henkries
• Over 30 years' experience in the African mining and exploration industry
• Recruited from the local community in Springbok, further reinforcing the Company's commitment to work closely and effectively with all key stakeholders and communities
• Reporting to the Company's CEO, Sean Heathcote, Mr Cloete will assist in planning and managing the next phase of activities at Henkries including:

o the recruitment of additional key local staff and expansion to the workforce; and

o the appointment of key consultants to complete new resource drilling programs, metallurgical testwork, assay of historical samples and updates to key components of the feasibility study

• Further key management appointments underway and expected to be completed in December 2023

Neo Energy CEO Sean Heathcote said,

"We have hit the ground running since our listing on the London Stock Exchange in early November. This past week, I've been with our team in South Africa which has now been further strengthened by the appointment of a new Regional Manager, Jerry Cloete.

"Jerry is a highly experienced mining professional who has spent over 30 years in the African mining industry. He is an valuable addition to the Company's leadership in the region and we welcome him to the team. Together, we have been advancing preparations for the various work programs that will allow us to accelerate development of Henkries and we look forward to updating our shareholders on progress in these key areas in the near future."

DETAILS

The Company is focused on fast-tracking the development of its advanced Henkries Uranium Project ('Henkries' or the 'Project') towards production having raised £5.4m and re-admitted its shares to trading on the Main Market of the London Stock Exchange in November 2023.

Henkries, a 742km2 uranium project in the Northern Cape of the Republic of South Africa, has a current estimated mineral resource of 4.7 million pounds ('Mlbs') of uranium and has been subject to extensive historical exploration activities as well as a feasibility study ('FS'). Utilising historical data and newly generated data from the planned drilling programmes, Neo aims to increase the Mineral Resources Estimate ('MRE') to +10Mlbs contained uranium, update the FS, and move to mine development decision as soon as possible.

In line with this, and to support the Company's accelerated development timetable, the Company will be expanding and strengthening its management team in South Africa with a number of key geological, mining and mineral processing professional. The appointment of Mr Jerry Cloete as new Regional Manager is the first of a number of key appointments which are expected to be made during December 2023.

Mr Cloete has assumed the role with immediate effect and is already on site at Henkries to oversee the day-to-day activities, whilst also working with the Company's CEO, in finalising the recruitment of additional key local staff, the expansion of the Company's workforce, and the appointment of key consultants.

Notes

Neo Energy Metals plc aims to become an important supplier to the fast-growing uranium sector. Its initial focus is on its 70% owned Henkries Uranium Project, an advanced, low-cost uranium project in the Northern Cape Province of South Africa with a clear pathway to production. +US$30m of historical exploration, drilling, test pitting and mining, metallurgical testwork and pilot plant work has been undertaken at the Project, culminating in a published feasibility study.

The team includes: