Mining Right: Key Regulatory Milestone Met

URU Metals Limited ("URU" or the "Company") is pleased to announce that, Lesego Platinum Uitloop (Pty) Ltd ("LPU"), has initiated a share issuance process to comply with South Africa's empowerment regulations under Mining Charter III. This significant step marks a crucial milestone in fulfilling the requirements for the granting of the mining right by the Department of Mineral Resources and Energy (DMRE) to URU, thereby positioning the Company to advance its exploration and further project development activities.

In alignment with Mining Charter III's provisions for meaningful participation of Historically Disadvantaged South Africans (HDSA), LPU will allocate 10% of its equity as follows:

• 5% to an Employee Share Ownership Scheme (ESOP): This initiative ensures that the employees of LPU directly benefit from the company's growth and success, fostering long-term engagement and inclusivity.
• 5% to a newly formed Non-Profit Company (NPC), Uitloop Communities NPC. The NPC will focus on community development and socio-economic upliftment, furthering the mandate to deliver tangible benefits to local stakeholders.

These measures, previously disclosed by the Company, reflect the Company's commitment to operating in compliance with South African mining legislation and fostering sustainable relationships with employees and surrounding communities.

Clearing the Path for Exploration Progress

The share issuance marks a key regulatory milestone, significantly advancing the process for the Company to secure its mining right. Once granted, the mining right will enable the Company to proceed with the next phase of the exploration program, including:

• Infill Drilling Program: A focused campaign aimed at upgrading the existing resource classification at the Zebediela project.
• Declaration of a Maiden Resource: This phase will target the high-grade nickel-platinum group elements (Ni-PGE) mineralization in the footwall zone, building upon the substantial resource base already identified.

These advancements underline URU's commitment to maximizing the value of its projects while adhering to regulatory and community-focused best practices.

A Milestone for Sustainable Growth

"We are thrilled to take this significant step towards regulatory compliance and operational progress," said John Zorbas, CEO of URU. "The issuance of shares by LPU not only demonstrates our commitment to supporting the principles of Mining Charter III but also solidifies our path toward securing the mining right. This milestone positions us to unlock the immense potential of our project while delivering value to all stakeholders, including our employees and local communities."

Looking Ahead

As LPU progresses towards mining right issuance and exploration advancements, URU remains focused on operational excellence and stakeholder engagement. The Company looks forward to updating the market on its exploration milestones, including the anticipated maiden resource declaration, in due course.

URU is a mineral exploration and development company focused on advancing its high-potential critical metals projects in South Africa. The Company is committed to creating sustainable value through responsible mining practices, regulatory compliance, and engagement with stakeholders. For more information, visit www.urumetals.com.