Mila Resources Regulatory News (MILA)

17 June 2025

Mila Resources plc

("Mila" or the "Company")

Conditional Placing of £756,000 to accelerate exploration at Yarrol

Conditional Placing

Mila Resources Plc (LSE:MILA), the post-discovery gold exploration accelerator, is pleased to announce that the Company has raised gross proceeds of approximately £756,000 through a placing of 108,013,391 Ordinary Shares ("Placing") at a placing price of 0.7 pence per Ordinary Share ("Placing Price"). The Placing is conditional on the passing of shareholder resolutions relating to a proposed subdivision of ordinary shares at the General Meeting outlined below.

Use of Proceeds

The proceeds will be applied to accelerate exploration at Yarrol following the successful validation of historic data through the H1 2025 drilling program. The Directors intend to extend ground magnetics across approximately 4km of strike. This will inform a detailed structural review before targeted diamond drilling to add detail to our geological model of the deposit.. Also, further work will now be undertaken at the Monal and Mt Steadman properties in order to define drill targets. Moreover, the Company intends to develop its own local subsidiary and geological team to reduce exploration costs and streamline operations generally.

The next phase of exploration aims to provide the basis for a de-risked resource drilling programme at Yarrol, while simultaneously progressing drill-ready targets at Mt Steadman and Monal. The mid-term aim is to grow the resource potential as quickly as possible to demonstrate the value of the assets in Queensland.

Mark Sephenson, Executive Director of Mila Resources commented:"We are delighted with strong demand for this fundraise from both existing and new shareholders. We have reported some excellent results from the initial 4 assays at Yarrol and this fundraise will allow us to fast track exploration during H2 2025. This capital will also allow us to begin exploration across the entire package of licences over a strike of 20km. We will be reporting a further 6 assays at Yarrol in the weeks ahead as they return from the laboratories and look forward to moving the project forward."

Proposed Subdivision of Ordinary Shares and General Meeting

The Companies Act 2006 prohibits the Company from issuing shares at a price below their nominal value. A circular convening a General Meeting will be sent to shareholders in the coming days asking Shareholders to approve resolutions to the following effect:

(a) that each of the existing Ordinary Shares of 1p be sub-divided into one New Ordinary Share of 0.1p and one Deferred Share of 0.9p; and

(b) to amend the Company's articles of association to include the rights attaching to the Deferred Shares.

The Deferred Shares will not entitle their holders to receive notice of or to attend or vote at any general meeting of the Company, or to receive any dividend or other distribution. On a return of capital on a winding up or dissolution of the Company, the holders of the Deferred Shares shall be entitled to receive an amount equal to the nominal amount paid up thereon, but only after the holders of Ordinary Shares have received £100,000 per Ordinary Share. The Company shall have the right to purchase the Deferred Shares at any time for no consideration. As such, the Deferred Shares effectively have no value.

Notice of a General Meeting of the Company, to be held on Monday 7 July 2025 at 10.00 a.m. at Level 1, Devonshire House, 1 Mayfair Place, London W1J 8AJ will be set out in the circular.

Once published, the circular will be available to download from the Company's website at www.milaresources.com. It is important that Shareholders lodge their votes electronically in advance of the General Meeting through submission of their proxy votes via the MUFG Investor Centre.

Shareholders are reminded that because the Placing is conditional on the passing of the resolutions to be proposed at the General Meeting. Should the resolutions not be passed, these will not proceed.

Admission and Total Voting Rights

The Company will seek admission of the Placing Shares to trading on the Equity Shares (Transition) category of the official list and the main market of the London Stock Exchange conditional on the passing of resolutions at the GM. and it is expected that admission will become effective and that dealings in the Placing Shares will commence at 8.00 a.m. on or around 8 July 2025 ("Admission").

Following Admission, the total issued share capital of the Company will consist of 649,977,974 Ordinary Shares each with one voting right. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company will be 649,977,974 and 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 in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. The person responsible for the release of this announcement is Mark Stephenson.

**ENDS**

For more information visit www.milaresources.com or contact