Central Asia Metals Regulatory News (CAML)

10 July 2018

CENTRAL ASIA METALS PLC

('CAML' or the 'Company')

H1 2018 Operations Update

Central Asia Metals plc (AIM: CAML) today provides a H1 2018 operations update for the Kounrad dump leach, solvent extraction and electro-winning ('SX-EW') copper recovery plant in Kazakhstan ('Kounrad') and the Sasa zinc-lead mine in Macedonia ('Sasa').

Highlights

- Kounrad

o H1 2018 copper production, 6,747 tonnes

- Sasa

o H1 2018 zinc in concentrate production, 11,020 tonnes

o H1 2018 lead in concentrate production, 14,386 tonnes

- On track to meet 2018 production guidance

o Copper 13,000 to 14,000 tonnes

o Zinc in concentrate 21,000 to 23,000 tonnes

o Lead in concentrate 28,000 to 30,000 tonnes

- Shuak

o 2018 exploration programme underway, 11,550 metres drilled in H1 2018

- Cash in the bank on 30 June 2018, $40.5m

CAML production summary

*H1 2017 zinc and lead production pre-date CAML ownership

Nigel Robinson, Chief Executive Officer, commented:

"After a particularly cold winter in Kazakhstan during Q1, we had a solid Q2 and were pleased with our overall H1 2018 Kounrad copper production. At Sasa, which we have now owned and operated for eight months, we are also pleased with our zinc and lead output and we are firmly on track to meet annual guidance for the three metals.

"During Q2 2018, we made several senior management changes that we believe have both strengthened and provided continuity to our business. Our integration of Sasa into the CAML Group is progressing well and we have commenced a life of mine ('LOM') technical study that should ensure the optimal future of the operation. The Company continues to assess additional business opportunities."

Kounrad

Kounrad Q2 2018 copper production of 3,677 tonnes brings output for the first six months of 2018 to 6,747 tonnes. Total Kounrad copper production since operations commenced in 2012 is now 75,173 tonnes.

4,312 tonnes of CAML's H1 2018 cathode production was leached from the Western Dumps, equating to approximately 64% of total output.

Copper sales during H1 2018 were 6,044 tonnes and 763 tonnes were in stock as at 30 June 2018. The cathode was sold predominantly through CAML's offtake partner, Traxys.

Sasa

In Q2 2018, mined and processed ore were 198,560 tonnes and 197,241 tonnes respectively, bringing the H1 2018 total to 390,932 tonnes of ore mined and 393,605 tonnes of ore processed. The average head grades for the Q2 2018 period were 3.36% zinc and 3.98% lead, and for H1 2018 were on average 3.34% and 3.91% respectively. The average H1 2018 metallurgical recoveries were 83.8% for zinc and 93.5% for lead. Q2 zinc recoveries were lower than previous periods due to a mechanical failure of the original zinc regrind mill and commissioning of the new SMD mill.

Sasa produces a zinc concentrate and a separate lead concentrate that contains silver. In Q2 2018, 11,239 tonnes of concentrate containing 49.0% zinc and 10,125 tonnes of concentrate containing 72.7% lead were produced. Total H1 2018 production was 22,624 tonnes of zinc concentrate at an average grade of 48.7% and 19,712 tonnes of lead concentrate at an average grade of 73.0%.

Sasa typically receives from smelters approximately 85% of the value of its zinc in concentrate and approximately 95% of the value of its lead in concentrate. Accordingly, Q2 2018 payable production of zinc was 4,603 tonnes and of lead was 6,997 tonnes, bringing total payable production for H1 2018 to 9,211 tonnes of zinc and 13,666 tonnes of lead. Payable base metal in concentrate sales for the six month period were 9,256 tonnes of zinc and 13,701 tonnes of lead.

During H1 2018, Sasa sold 180,233 ounces of payable silver. Due to an existing streaming agreement with Osisko Gold Royalties, CAML's silver production has been pre-sold.

*H1 2017 Sasa production pre-dates CAML ownership

Shuak

Exploration commenced at Shuak in May 2018 and, since then, 11,550 metres of core hydrotransport ('CHT') drilling have been undertaken throughout the licence. The Kyzyl-Sor prospect has been identified as the key area of interest and, taking into account the weathering profile identified by the TEM-FAST geophysical survey, CHT drilling is currently underway in this area.

An induced polarisation ('IP') survey will be undertaken in H2 2018, as well as a diamond drilling programme to commence in Q3 2018 that will primarily focus on Kyzyl-Sor.

Cash

As of 30 June 2018, CAML had cash in the bank of $40.5 million.

For further information contact:

Note to editors:

Central Asia Metals, an AIM-listed UK company based in London, owns the Kounrad SX-EW copper project in central Kazakhstan and the Sasa zinc-lead mine in Macedonia. The Company also owns 80% of the Shuak copper exploration property in northern Kazakhstan. For further information, please visit www.centralasiametals.com.