Exercise of Warrants and Total Voting Rights

Neo Energy Metals plc (LSE: NEO; A2X: NEO), the uranium and gold development company focused on South Africa, announces that it has received notices of warrant exercise in respect of 10,000,000 new ordinary shares of £0.0001 each ("Ordinary Shares") with an exercise price of 0.5 pence each, raising £50,000.

Admission and Total Voting Rights

Application has been made to the London Stock Exchange PLC for the admission of 10,000,000 new Ordinary Shares to trading on the Main Market of the London Stock Exchange ("Admission"), which is expected to take place at 8.00 a.m. on or around 3 June 2026.

Following Admission, the Company will have 2,627,585,135 Ordinary Shares in issue. No Ordinary Shares are held in treasury and, accordingly, the total number of voting rights is 2,627,585,135. Therefore, this figure may be used by shareholders in the Company as the denominator for the calculation by which they may determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

New Beisa Node - Free State Goldfields

The asset carries more than US$500 million in historical capital investment and benefits from existing surface infrastructure including a headgear and winding systems, a gold processing plant with 120,000 tonne-per-month milling capacity, primary ventilation, a tailings storage facility and all major utilities. Underground development is in place, with the Beisa Reef accessible from the existing shaft at depths of 300 to 1,000 metres.

Initial annual production is targeted at approximately 810,000lbs uranium and 52,000 ounces of gold, at an all-in sustaining cost below US$30 per pound uranium equivalent after gold credits, with an estimated mine life of 17 years on current Measured and Indicated resources.

Henkries Node - Northern Cape

The process route - conventional acid leach to yellowcake - has been proven through an Anglo American pilot plant that processed more than 200 test pits at a cost of over US$30 million.

A 2024 Feasibility Study for the Henkries project indicates annual production of approximately 580,000lbs of uranium at a cash cost of approximately US$33/lb, with an NPV (8%) of US$60 million and an IRR in excess of 25% at US$85/lb. Total initial capital requirement is approximately US$65 million.