Metals One Regulatory News (MET1)

12 September 2025

Metals One Plc

("Metals One" or the "Company")

Increased Stake in Evolution Energy Minerals

Metals One gets full allocation in oversubscribed Rights Issue lifting shareholding in Tanzania graphite project developer to 16.9%

Further to the announcement on 5 September 2025, Metals One (AIM: MET1), a critical and precious metals exploration and development company, is pleased to announce it has received its full allocation of 52,985,000 shares in the Evolution Energy Minerals Ltd (ASX: EV1) ("Evolution") Rights Issue at A$0.01 for an investment of A$529,850.

Evolution's Rights Issue closed significantly oversubscribed and raised A$1.45 million (before costs). To accommodate a portion of the excess demand, Evolution agreed to undertake a placement to raise an additional A$300,000 on the same terms as the Rights Issue.

Upon admission of Evolution's new securities to the Australian Securities Exchange, expected to occur on 12 September 2025, Metals One will hold a total of 90,885,000 shares in Evolution, representing 16.9% of Evolution's total issued share capital.

Pursuant to the Rights Issue, Metals One has also been granted share options over 26,492,500 shares in Evolution, exercisable at A$0.02 per share, with an expiry date of 12 September 2028.

Evolution's primary project is the large, development-ready, high grade mineral resource potential Chilalo Graphite Project in Tanzania, supported by binding offtake agreements covering more than 90% of production.

Jonathan Owen, CEO of Metals One, commented:

"Chilalo represents one of the few advanced graphite projects positioned to supply ex-China markets, underpinned by strong ESG credentials, government support in Tanzania, and significant exploration upside. Through Metals One's shareholding in Evolution, our shareholders have gained access to a premium strategic mineral asset advancing towards development at a highly attractive value entry point."

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About Metals One

Metals One is pursuing a strategic portfolio of critical and precious metals projects in low-risk jurisdictions, underpinned by the Western World's urgent need for reliably and responsibly sourced raw materials, and record high gold prices.

Metals One's shares are listed on the London Stock Exchange's AIM Market (MET1).

Schedule of projects/investments: 

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Market Abuse Regulation (MAR) Disclosure

The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR').

Nominated Adviser

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.