Variation of Framework Agreement

IMC Exploration Group Plc - Variation of Framework Agreement

PR Newswire

London, December 23

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF Regulation (EU) No. 596/2014 of the European Parliament and the Council of 16 April 2014 on market abuse as it forms part of retained EU law as defined in the European Union (Withdrawal) Act 2018 (the "MArket Abuse Regulation"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

IMC EXPLORATION GROUP PLC

(“IMC”)

Proposed Acquisition of Karaberd Mine – Extension to 15th July 2022 of Time for Satisfaction of Conditions

IMC announces that it has agreed with Mineral Ventures Invest spol. s r.o. that the final date by which the conditions of the intended acquisition of the Karaberd Mine in Armenia, announced on 15th April 2021, must be fulfilled has been extended to 15th July 2022. The reason for the extension is that, owing to local, COVID-19 pandemic-related factors, financial reporting work required to enable IMC to issue a prospectus in relation to the proposed acquisition has taken longer to quantify and produce than had originally been anticipated. If, as and when necessary, the Directors of IMC shall continue to update shareholders and the market on the progress of the proposed transaction.

Eamon P. O’Brien,

Executive Chairman,

23rd December 2021

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