£500,000 Placing

Phoenix Copper Limited (AIM: PXC; OTCQX ADR: PXCLY), the AIM quoted, USA focused base and precious metals emerging producer and exploration company, is pleased to confirm that in response to investor led demand, the Company has raised £500,000 (before expenses) through the issue of 12,500,000 new ordinary shares of no par value (the "Placing Shares") at a price of 4 pence per Placing Share (the "Placing").

The net proceeds of the Placing will provide the Company with additional working capital while it finalises the proposed $75 million placement of corporate copper bonds, as announced on 12 June 2025.

Admission of the Placing Shares

Application has been made for the Placing Shares, which rank pari passu with the existing ordinary shares of no par value ("Ordinary Shares") in issue, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will occur at 8:00am UK time on or around 18 June 2025.

Total Voting Rights

Following the Admission of the Placing Shares, the Company will have 224,537,300 Ordinary Shares outstanding. Shareholders may use this number as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the issued share capital of the Company.

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For further information please visit https://phoenixcopperlimited.com.

Since 2017, Phoenix has executed extensive drilling initiatives, resulting in an expansion of the Empire Open-Pit resource by over 200%. In May 2024 the Company published its inaugural mineral reserve statement for the Empire Open-Pit Mine. Proven and Probable mineral reserves are 10.1 million tonnes containing 109,487,970 lbs of copper, 104,000 oz of gold and 4,654,400 oz of silver. This reserve was estimated using assay data from 485 drill holes, extensive geological modelling, metallurgical recovery test work, geotechnical evaluation, and mine design. The reserve represents a combined 66,467 tonnes of copper equivalent metal.

In addition to the Empire Mine, Phoenix's holdings in the district also encompass the Horseshoe, White Knob, and Blue Bird Mines, all of which have been producers of copper, gold, silver, zinc, lead, and tungsten from underground operations, a new high-grade silver and lead orebody at Red Star, and the Navarre Creek gold exploration project, which was first drilled in 2023. The Company's land package at Empire spans 8,434 acres (34 sq km).