80 Mile Regulatory News (80M)

11 August 2025

Kangerluarsuk Asset Purchase Agreement Executed

80 Mile PLC ('80 Mile' or the 'Company'), the AIM, FSE, and OTC listed exploration and development company, announces that the Company has executed an asset purchase agreement with Amaroq Minerals Ltd. ('Amaroq', AIM, TSXV, NASDAQ Iceland: AMRQ), for the sale of the Kangerluarsuk zinc-lead-silver project ('Kangerluarsuk') in Greenland. This follows the announcement on 12 June 2025 regarding the definitive agreement with Amaroq (the 'Agreement').

Under the terms of the Agreement, following completion, 80 Mile [will receive] US$500,000 in Amaroq shares. Additionally, upon discovery of an economic deposit, as defined by a JORC or NI 43-101 compliant resource that supports development, the Company will receive US$1,500,000 in cash or shares.

Kangerluarsuk is a high-grade carbonate-hosted zinc-lead-silver project located on Greenland's west coast, within the historic Black Angel mining district. 80 Mile identified multiple untested geophysical anomalies on the property that are consistent with the style of mineralisation that supported historical production in the district.

Amaroq Minerals is a well-capitalised and technically proficient Greenland-focused explorer and developer, and 80 Mile is confident that their team is well-placed to unlock the value of the project through systematic exploration. Amaroq have announced this purchase and a proposed fundraising of £30.0 million in the announcement which can be found here.

This transaction reflects 80 Mile's ongoing strategy to monetise non-core assets and focus on its priority projects, particularly the Disko-Nuussuaq nickel-copper-cobalt project, Hydrogen Valley, and the Jameson Land Basin Project. The proceeds will be directed toward advancing these core assets and further strategic initiatives.

For further information please visit http://www.80mile.com or contact:

About 80 Mile Plc:

80 Mile Plc, listed on the London AIM market, Frankfurt Stock Exchange, and the U.S. OTC Market under the ticker BLLYF, is an exploration and development company focused on high-grade critical metals in Tier 1 jurisdictions. With multiple projects in Greenland, as well as a developing industrial gas and biofuels business in Italy, 80 Mile offers both portfolio and commodity diversification focused on base metals, precious metals, and industrial gas while expanding into sustainable fuels and clean energy solutions in Tier 1 jurisdictions. 80 Mile's strategy is centred on advancing key projects while creating value through partnerships and strategic acquisitions.

80 Mile's recent acquisition of White Flame Energy and the Jameson licenses expands its portfolio into the energy and gas sector, adding large-scale licenses for industrial gas, natural gas, and liquids in East Greenland. Approved by shareholders in July 2024, this acquisition diversifies the Company's assets and aligns with its strategy to contribute to sustainable energy solutions, while also exploring conventional energy resources.

The Disko-Nuussuaq nickel-copper-cobalt-PGE project in Greenland is a primary focus for 80 Mile, 100% owned by 80 Mile PLC. Seven priority targets exhibiting spatial characteristics indicative of potential deposits on a scale comparable to renowned mining operations such as Norilsk, Voisey's Bay, and Jinchuan, will be advanced by the Company.

The Dundas Ilmenite Project, 80 Mile's most advanced asset in northwest Greenland, is fully with a JORC-compliant Mineral Resource of 117 Mt at 6.1% ilmenite and an offshore Exploration Target of up to 530 Mt. Dundas is poised to become a major supplier of high-quality ilmenite. Recent discoveries of hard rock titanium mineralization, with bedrock samples showing nearly double the ilmenite content of previous estimates, further enhance the project's world-class potential. 80 Mile owns 100% of the Dundas Ilmenite Project under its subsidiary Dundas Titanium A/S in Greenland.

In June 2025, 80 Mile entered into a definitive agreement to divest its 100% interest in the Kangerluarsuk zinc-lead-silver project in Greenland to Amaroq Minerals Ltd. Under the terms of the agreement, 80 Mile will receive US$500,000 in Amaroq Minerals shares upon completion, and US$1,500,000 in cash or shares upon the discovery of an economic deposit, as defined by a JORC or NI 43-101 compliant resource that supports development.