Mining, Minerals & Metals plc Regulatory News (MMM)

Mining, Minerals & Metals plc

7 October 2021

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS ‎NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.‎

Mining, Minerals & Metals Plc/Index: LSE/Epic: MMM/Sector: Natural Resources

Mining, Minerals & Metals plc

("MMM" or the "Company")

Proposed acquisition and Suspension of Listing

The Board of MMM is pleased to announce that it is in early stage discussions and has entered into a non-binding term sheet with Africa Resources Holdings, LLC ("ARH") to acquire the entire issued share capital of Narnia Mauritius Gas Holdings Limited ("NMGH"), that will hold a ninety five percent ("95%"), interest in Inert Gas Industries (Proprietary) Limited ("IGI"), which in turn owns the Lindley Natural Gas Project ("LNGP") exploration licences situated in the Free State Province of South Africa ("The Proposed Transaction").

The discussions with ARH remain subject to contract, satisfactory completion of due diligence and additional equity fundraising.

ARH have indicated that the LNGP exploration licences cover an area of 27,000 hectares with a portion of the LNGP licence area being previously operated by the Anglo American Corporation of South Africa Limited for approximately ten years producing both Methane and Helium gas. The Methane gas was flared whilst the Helium gas was sold locally in South Africa. Subject to compliance with all the requirements of the regulatory authorities in South Africa, following completion of the Proposed Transaction, MMM, intends to secure production permits to facilitate the production and distribution of Methane, Helium and any other marketable products from LNGP.

The Proposed Transaction, if completed, would constitute a reverse takeover under the Listing Rules and accordingly the Company would need to apply for re-admission of its shares to the Official List and the Main Market of the London Stock Exchange. As the Company is currently unable to provide a full disclosure under Listing Rule 5.6.15, at the request of the Company the FCA has suspended the Company's listing in its ordinary shares on the standard segment of the Official List and trading from the London Stock Exchange ("LSE") with effect from 7.30 a.m. today, pending the publication of a prospectus providing further detail on NMGH, IGI and LNGP and the Company as enlarged by the Proposed Transaction.

In the event that the Proposed Transaction does not proceed the Company will seek the lifting of its suspension from the standard segment of the Official List and trading on the LSE.

The Proposed Transaction is conditional on a number of conditions including; i) satisfactory due diligence ii) entering into a definitive legal agreements iii) raising further funds for the Proposed Transaction; iv) approval by shareholders at a General Meeting to be convened; v) obtaining all necessary approvals (if required) and; vi) granting of eligibility for the readmission of the Company to the Official List by the FCA.

There can be no certainty that the Proposed Transaction will take place and the Company will continue to update shareholders in due course.

*ENDS*

For further information please contact:

Mining, Minerals & Metals plc E: info@mmmplc.com

Brandon Hill Capital Limited T: +44 (0)20 3463 5000

Financial Advisor and Broker

Jonathan Evans