Hummingbird Resources Regulatory News (HUM)

Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining

10 January 2024

Hummingbird Resources plc

("Hummingbird" or the "Company")

Result of Open Offer and Director Dealing

Further to the announcement on 21 December 2023, Hummingbird (AIM: HUM) provides the following update on the results of its open offer to its existing shareholders to raise up to c.US$5.0 million (£4.0 million) (the "Open Offer").

The Open Offer is additional to the conditional placement of c.US$22.2 million, which includes a conditional investment by the Company's largest shareholder and strategic investor CIG SA ("CIG") (the "CIG Subscription") of US$20.2 million, and the US$5.5 million already raised pursuant to the first tranche of this fundraising.

The issue of the CIG Second Tranche Shares, the Second Tranche Subscription Shares and the Open Offer Shares are all conditional on the passing of Resolutions at the General Meeting to be held later today, 10 January 2024. The Company will announce the result of the General Meeting, and an updated total voting rights figure, after it has concluded.

Results of Open Offer

The Company announces the closing of the Open Offer, and that it has received valid applications, including those received under the Excess Application Facility, in respect of a total of 2,369,119 new Ordinary Shares, totalling c.£0.27 million (c.US$0.34 million). Qualifying Shareholders who have validly applied for Open Offer Shares pursuant to their Basic and Excess Shares Entitlement, will receive their application in full assuming the Resolutions are passed at the General Meeting.

Should the Resolutions be passed at the General Meeting, the sum of the CIG Subscription, the Subscription and the Open Offer would result in total gross proceeds for the Company of c.US$28.1 million (c. £22.2 million).

Director Dealing

The Company also announces that Tom Hill, Finance Director of the Company, has participated in the Open Offer and has conditionally applied for 150,000 Open Offer Shares.

Following this participation, and on the basis that the Resolutions are passed at the General Meeting, Tom Hill will be beneficially interested in 641,574 Ordinary Shares, representing approximately 0.08 per cent. of the Company's issued share capital as enlarged by the fundraising.

Unless otherwise defined, capitalised terms have the same meaning as per the Company's circular dated 21 December 2023.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

**ENDS**

Notes to Editors:

Hummingbird Resources plc (AIM: HUM) is a leading multi-asset, multi-jurisdiction gold producing Company, member of the World Gold Council and founding member of Single Mine Origin (www.singlemineorigin.com). The Company currently has two core gold projects, the operational Yanfolila Gold Mine in Mali, and the Kouroussa Gold Mine in Guinea, which will more than double current gold production once at commercial production. Further, the Company has a controlling interest in the Dugbe Gold Project in Liberia that is being developed by joint venture partners, Pasofino Gold Limited. The final feasibility results on Dugbe showcase 2.76Moz in Reserves and strong economics such as a 3.5-year capex payback period once in production, and a 14-year life of mine at a low AISC profile. Our vision is to continue to grow our asset base, producing profitable ounces, while central to all we do being our Environmental, Social & Governance ("ESG") policies and practices.

For further information, please visit hummingbirdresources.co.uk or contact: