CGH.L Regulatory News (CGH)

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018).

24 October 2022

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Confirmation of Discussions

Chaarat (AIM:CGH), the AIM-quoted gold mining company with assets in the Kyrgyz Republic and Armenia, notes recent media speculation and confirms that it is in discussions regarding the potential acquisition (the "Acquisition") of Lydian Armenia CJSC (the "Target") from Lydian Canada Ventures Corporation.

The proposed Acquisition would constitute a Reverse Takeover as defined under the AIM Rules, due (among other things) to the size of the Acquisition. Accordingly, trading in Chaarat's shares will be suspended with immediate effect pending the publication of the required AIM Admission Document or an announcement that the potential Acquisition is not proceeding.

There is no certainty at this stage, that the proposed Acquisition will be completed. A further announcement will be made when appropriate.

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About Chaarat

Chaarat is a gold mining company which owns the Kapan operating mine in Armenia as well as Tulkubash and Kyzyltash Gold Projects in the Kyrgyz Republic. The Company has a clear strategy to build a leading emerging markets gold company through organic growth and selective M&A.

Chaarat is engaged in active community engagement programmes to optimise the value of the Chaarat investment proposition.

Chaarat aims to create value for its shareholders, employees and communities from its high-quality gold and mineral deposits by building relationships based on trust and operating to the best environmental, social and employment standards. Further information is available at www.chaarat.com.