WRES.L Regulatory News (WRES)

18 June 2021

W Resources Plc

("W" or the "Company")

Subscription by Michael Masterman

 and additional issues of Shares

W Resources Plc (AIM:WRES), the tungsten, tin and gold mining Company with assets in Spain and Portugal, announces that Symmall Pty Limited, as trustee of the Masterman Superannuation Fund of which Mr Michael Masterman (a director of the Company) is both a beneficiary and trustee, has subscribed for 3,125,000 ordinary shares of 0.1p per share ("Ordinary Shares") at 8p per Ordinary Share to raise £250,000 (the "Subscription") on the same terms as the placing announced on 17 May 2021, including 1 warrant for every 2 Ordinary Shares subscribed for. The warrants are exercisable at any time in the two years following admission of the Subscription shares to trading on AIM at an exercise price of 12p per share.

The notifications below, made in accordance with the requirements of the UK Market Abuse Regulation, provide further detail.

As announced on 17 May 2021, Mr Masterman was obliged to wait until the publication of annual results for the year ended 31 December 2020 as well as the subsequent announcement of progress in dewatering La Parrilla of 16 June 2021 before being able to subscribe for shares.

Related Party Transaction

The participation in the Placing by Symmall Pty Limited falls to be treated as a related party transaction under Rule 13 of the AIM Rules for Companies. The independent W directors, being the W directors other than Mr Masterman consider, having consulted with the Company's nominated adviser Grant Thornton UK LLP, that the terms of the share subscription are fair and reasonable insofar as the Company's shareholders are concerned.

In addition, the Company has issued 3,709,711 Ordinary Shares of 0.1p per share at 7.43993p per Ordinary Share, amounting to £276,000. Of these, 163,700 shares have been issued to Atlas Special Opportunities, LLC in full settlement of outstanding interest and a further 3,546,011 shares have been issued to a creditor.

Settlement and Dealings

Application has been made for the 6,834,711 Ordinary Shares being issued in connection with the Placing and the creditor settlement to be admitted to trading on AIM ("Admission"), with Admission expected to occur on or around 25 June 2021.

Total Voting Rights

Following Admission, the Company's enlarged issued share capital will comprise 115,937,148 Ordinary Shares with voting rights. The Company has no shares held in Treasury. This figure of 115,937,148 Ordinary Shares may be used by shareholders in the Company 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.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries:

Notification of Transactions of Persons Discharging Managerial Responsibility and Persons Closely Associated with them