Eurasia Mining Regulatory News (EUA)

Eurasia Mining plc

("Eurasia" or "the Company")

Exercise of Options and Warrants and Accelerator Clause Notice

Eurasia is pleased to announce that it has received notice to exercise warrants over 1,666,668 ordinary shares of 0.1 pence in the Company at an exercise price of 0.6 pence (the "Warrant Shares"). The consideration for the exercise of the Warrant Shares amounts, in aggregate, to a cash value of £7,000. 

In addition, the Company announces it has received notice to exercise options over 11,000,000 ordinary shares of 0.1 pence in the Company at an exercise price of 0.6 pence per share (the "Option Shares"). The consideration for the exercise of the Option Shares amounts, in aggregate, to a cash value of £64,200. These options were exercised by employees and ex-employees of the Company, not holding positions as directors of the Company, PDMRs or advisors to the board.

Accelerator Clause

Furthermore, the Company wishes to advise that the accelerator clause governing warrants associated with the May 2018 placing undertaken with clients of the Company's broker First Equity Limited (See RNS dated 10 May 2018) has now been triggered by the Company. A one-for-one warrant valid to May 2020 was subject to an accelerator clause whereby if the VWAP of the Company's share price is sustained at greater than 1.8p for ten consecutive days the Company may choose to force execution of the warrants. Tuesday 12th November was the 10th consecutive day satisfying this condition and notice was duly given to warrant holders. Warrants for which notice of execution is not given within 5 business days from the date of notice will be forfeited. The total number of outstanding warrants subject to the clause is 23,349,998, which represents a cash value of £148,600.

Christian Schaffalitzky, Chairman added: "The Directors are happy to exercise our right to remove the remaining warrant overhang that has been a concern to some of our shareholders."

Application has been made for the Warrant Shares and Option Shares to be admitted to trading on AIM, and dealings are expected to commence on or around 19 November 2019 ("Admission"). These shares will rank pari passu with the ordinary shares of the Company in issue.

Total voting rights

The Company's total issued share capital upon Admission of the Warrant Shares and the Options Shares will be 2,655,479,948 ordinary shares. As the Company does not hold any shares in Treasury, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency rules.

Eurasia Mining Plc

Christian Schaffalitzky/ Keith Byrne

+44 (0)207 932 0418

WH Ireland Limited (Nomad and Joint Broker)

Katy Mitchell / James Sinclair-Ford

+44 (0)161 832 2174

First Equity Limited (Joint Broker)

Jason Robertson

Tel: +44 (0)20 7374 2212

Optiva Securities (Joint Broker)

Christian Dennis

Tel: +44 (0) 20 3137 1902

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014

Shareholders are encouraged to follow the non-regulatory progress at the Company's mine and Monchetundra Project through the Company's media channels including:

https://vimeo.com/user71951711

https://twitter.com/eurasiamining

https://www.voxmarkets.co.uk/listings/LON/EUA/

About Eurasia Mining PLC (LSE: EUA)

Eurasia Mining is a long-established palladium, platinum, iridium, rhodium and gold focused production company quoted on the London Stock Exchange AIM market, with an operating PGM mine in the Ural Mountains palladium open pit deposit at Monchetundra. In addition, Eurasia maintain an interest in the Semonovsky Gold in Mine Tailings Project, an asset demonstrating potentially low-cost new-term gold production potential.

Eurasia's two core projects are:

The West Kytlim operating mine (of which the Company owns 68%), which is the largest alluvial platinum reserve in the world currently, with 2,283 kilograms of raw platinum in reserves, and resources and resource potential to a further 10 tonnes of raw platinum. A single washplant has operated on site during 2018 and 2019, with further increases in production planned from multiple washplants. The mine was previously contracted to generate cashflow from which to finance further capitalisation of the asset. All contractors were retired from the operation in September 2019 and since then Eurasia has been operating on an owner operated (100% of revenue) basis.

The Monchetundra Project (of which the Company owns 80%), has in place (signed October 2016) an EPCF (Engineering Procurement Construction and Financing) contract with Sinosteel, a state-owned Chinese corporation focused on mining. This agreement fully finances the Project through building of the 1.7m tonnes per annum processing facility at the Monchetundra Project.