Result of Open Offer

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF CADENCE MINERALS PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

Cadence Minerals Plc

("Cadence Minerals", "Cadence" or the "Company")

Result of Open Offer

Cadence Minerals (AIM/AQX: KDNC; OTC: KDNCY) is pleased to announce the result of its Open Offer and issuance of new Ordinary Shares pursuant to the "Open Offer and Posting of Circular" announcement on 4 February 2022.

Result of Open Offer

The Company is pleased to announce that the Open Offer with valid acceptances received in respect of 3,634,825 Open Offer Shares, representing a take-up of over 48.9 per cent of the 7,432,454 available Open Offer Shares.

All Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Basic Entitlement. Accordingly, the Open Offer has raised total gross proceeds of approximately £745,000.

The Company will apply for admission of the Open Offer Shares to trading on AIM. Admission will occur at 8.00a.m. on Friday 25 February 2022. On Admission, the Company will have 172,283,908 Ordinary Shares in issue and there are no shares held in treasury. 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 to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Revised expected timetable of principal events

Capitalised terms used in this announcement have the meanings given to them in the Circular and the announcement of the 'Proposed Placing' on 2 February 2022 unless the context provides otherwise.

Enquiries:

This announcement includes inside information as defined in Article 7 of the UK version of Market Abuse Regulation No. 596/2014 as it forms part of UK law as retained EU law as defined in, and by virtue of, the European Union (Withdrawal) Act 2018, as amended, and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.