JAY.L Regulatory News (JAY)

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Bluejay Mining plc

("Bluejay", the "Company" or the "Group")

Result of Placing

PDMR Dealing

Appointment of Joint Broker

The Company confirms, further to its announcement of 4.36 p.m. BST on 22 August 2024 (the "Announcement"), that it has successfully closed the Placing.

Result of Placing

Subject to the satisfaction of the conditions referred to below, the Placing has raised, in aggregate, gross proceeds of £1.75 million through the placing of 583,333,327 Ordinary Shares (the "Placing Shares") with various UK & European institutional, Directors and management as well as existing and new sophisticated investors at a price of 0.3 pence per share (the "Placing Price").

The allotment and issue of the Placing Shares is conditional, inter alia, upon:

· Admission becoming effective by no later than 8.00 a.m. on 6 September 2024 (or such other time and/or date, being no later than 8.00 a.m. on 30 September 2024, as Zeus and the Company may agree);

· the conditions in the Placing Agreement in respect of the Placing Shares being satisfied or (if applicable) waived; and

· the Placing Agreement not having been terminated in accordance with its terms prior to Admission.

Accordingly, if any of such conditions are not satisfied or, if applicable, waived, the Placing will not proceed.

Use of Proceeds

As set out in the Announcement, the Company will use the proceeds for the following activities:

· Preparation for Disko 2025 fieldwork as well as stakeholder engagement;

· Preparation for White Flame Jameson Environmental Impact Assessment and drilling consultation;

· Resampling and partner engagement at the Company's Outokumpu industrial gas asset in Finland;

· Site surveys and regional sampling at the Company's Thule Copper project;

· Continued maintenance and engagement on Hammaslahti a historical state owned copper mine in Finland; and

· General corporate and working capital purposes.

PDMR Participation in the Placing

The Company has been notified of the following participants in the Placing (conditional on Admission of the Placing Shares):

Related Party Transactions

As Rod McIllree, Troy Whittaker, and Eric Sondergaard are directors of the Company, their participation in the Placing constitutes a related party transaction for the purpose of Rule 13 of the AIM Rules of Companies. The Director independent of the Placing, being Mike Hutchinson, considers having consulted with SP Angel, the Company's nominated adviser, that the terms of the participation in the Placing is fair and reasonable in so far as shareholders are concerned.

Appointment of Joint Broker

The Company confirms it has appointed Axis Capital Markets Limited as its joint broker with immediate effect.

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for admission of the First Placing Shares, a total of 583,333,327 Ordinary Shares to trading on AIM. It is expected that Admission will become effective and dealings in the Placing Shares will commence on AIM at 8.00 a.m. on or around 6 September 2024 (or such later date as may be agreed between the Company and the Bookrunner, but no later than 30 September 2024) (the  Admission").

The Placing Shares will be issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.

Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 2,089,397,216 with voting rights. This figure may be used by shareholders 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 Company's share capital pursuant to the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Capitalised terms used but not otherwise defined in this announcement shall have the meanings ascribed to such terms in Appendix II of the Announcement, unless the context requires otherwise.

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