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Market Abuse Regulation ("MAR") Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

29 April 2022

Bushveld Minerals Limited

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

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In accordance with the Disclosure Guidance and Transparency Rules (DTR 5.6), Bushveld makes the following disclosure with respect to the share capital and voting rights of the Company.

As at today's date, the share capital of the Company comprises 1,266,126,822 ordinary shares in issue, 670,000 of which are held in treasury. Therefore, the total number of ordinary shares with voting rights is 1,265,456,822. This is consistent with the announcement made on 26 April 2022.

Shareholders should use the figure of 1,265,456,822 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 and Transparency Rules.

ENDS

Enquiries: info@bushveldminerals.com  

ABOUT BUSHVELD MINERALS LIMITED 

Bushveld Minerals is a low-cost, vertically integrated primary vanadium producer. It is one of only three operating primary vanadium producers, owning 2 of the world's 4 operating primary vanadium processing facilities. In 2021, the Company produced 3,592 mtV, representing approximately three per cent of the global vanadium market. With a diversified vanadium product portfolio serving the needs of the steel, energy and chemical sectors, the Company participates in the entire vanadium value chain through its two main pillars: Bushveld Vanadium, which mines and processes vanadium ore; and Bushveld Energy, an energy storage solutions provider. Bushveld Vanadium is targeting to materially grow its vanadium production and achieve an annualised steady state production run rate of between 5,000 mtVp.a. and 5,400 mtVp.a by the end of 2022, from projects currently being implemented. Beyond that, pre-feasibility studies are in progress to determine the optimal path to increase production even further to a steady state production run rate of between 6,400 mtVp.a. and 6,800 mtVp.a. in the medium-term and to a steady state production run rate of 8,400 mtVp.a in the long term. 

Bushveld Energy is focused on developing and promoting the role of vanadium in the growing global energy storage market through the advancement of vanadium-based energy storage systems, specifically Vanadium Redox Flow Batteries ("VRFBs"). 

Detailed information on the Company and progress to date can be accessed on the website www.bushveldminerals.com