Commencement of drilling

19 July 2021

Arc Minerals Ltd

('Arc' or the 'Company')

Commencement of drilling

Arc is pleased to announce the commencement of a diamond drill programme on its majority-controlled licenses in north-western Zambia. Diamond drilling activities are underway at the Fwiji Target Area ('Fwiji') following further technical work and analysis from last year's exploration drilling campaign.

The programme will initially centre on a linear feature ~2km to the south of last year's drilling at Fwiji where a coincident magnetic and soil anomaly has been identified.

This year's programme will also focus on the Cheyeza and Muswema Target areas where the drill target locations are to be finessed upon the completions of a high resolution airborne geophysical survey over these target areas.

Nick von Schirnding, Executive Chairman of Arc Minerals, commented:

"I am very pleased that our drilling programme is underway following extensive work that our geologists have completed over the past six months. As previously disclosed, this year's drilling programme will aim to drill significantly deeper holes to better understand the stratigraphy of the exciting targets we have identified.

Separately, a number of discussions are currently underway with interested third parties in respect of a potential commercial transaction in respect of Arc's copper exploration licences in Zambia.

I look forward to an exciting period ahead for Arc's shareholders."

For more information visit www.arcminerals.com.

Qualified Persons

The information in this press release is based on information provided by Zamsort Limited on behalf of Arc Minerals. Mr Vassilios Carellas (BSc (Hons), MAusIMM) is the Chief Operating Officer for Arc Minerals and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined under the JORC Code (2012). Mr Carellas consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

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.

**ENDS**

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