9 October 2025

Anglo Asian Mining plc

Revised production guidance for FY 2025

Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed copper and gold producer focused in Azerbaijan is pleased to announce its revised production guidance for the 12 months ended 31 December 2025 ("FY 2025").

The Group has recently brought the Gilar and Demirli mines into production which has changed its production profile as it executes its strategic shift to become a producer of mainly copper. The Group's Demirli mine entered production in July and is currently completing commissioning to ramp-up to its design capacity. The Company's production expectations for 2025 have therefore increased based on the additional production at Demirli.

As recently announced, ore at Gilar is being mined from high grade zones, so the Company has installed a second, automated filter press at its Gedabek flotation plant. The Group has also taken the strategic decision to expand the Gedabek flotation plant by the addition of two further filter presses and additional flotation cells. Higher grade Gilar ore, which is grading around 3.5 to 4 per cent. copper and 2 grammes of gold per tonne, is currently being stockpiled and will be processed in the expanded flotation plant early next year in order to maximise recoveries. This will also be beneficial for 2026 production. The existing flotation plant continues to operate whilst these upgrades are being made.

The Group is also currently stockpiling concentrate produced at its Demirli mine. It is expecting all necessary operating permits will be obtained by the end of October 2025 and concentrate sales will commence in November.

With Gilar and Demirli now in production and encouraging progress being made at Xarxar and Garadag, the Group is well-positioned for the long-term and to deliver its medium-term strategy to become a mid-tier producer. As a result of the changes detailed above, its full year production guidance has been revised to the following:

·    Copper of 8,100 to 9,000 tonnes

·    Gold of 25,000 to 28,000 ounces

FY 2025 guidance breakdown

The Group's revised production guidance for FY 2025 is as follows:

A detailed Production and Operations Review for the nine months to 30 September 2025 will be published later in October 2025.

Reza Vaziri, CEO of Anglo Asian Mining, commented:

"2025 is already a landmark year for Anglo Asian Mining, as we have commenced production at two new mines, Gilar and Demirli. This makes us a multi-asset producer, in line with our strategy, and we are on track to become a mid-tier producer in the coming years when Xarxar and Garadag commence production.

Our guidance announced today reflects a year of significant change for the Company as our production base continues to grow, having recently delivered our record daily production. Supported by strong commodity prices and our exciting organic growth strategy, we are well-positioned to deliver meaningful growth in the years ahead."

Notes

1           The Group will no longer report its production or guidance in Gold Equivalent Ounces given the increasing proportion of copper in its production and current volatility of metal prices.

2           The FY 2025 Guidance for Gedebek has been impacted by the restricted processing capacity of the filter press and thickener of the flotation plant for ore being mined from high grade zones of Gilar. If processed through the current flotation plant, this higher-grade ore chokes the thickener as the filter press is unable to manage the quantity of concentrate produced. Therefore, the higher grade copper is currently being stockpiled. There were 71,188 tonnes of Gilar ore grading 3.83 per cent. copper and 2 grammes of gold per tonne stockpiled at end September 2025.

A second automated filter press with a higher capacity has recently been installed, allowing for efficient management of the increased copper feed. Flotation processing continued during this installation. Blending of high-grade copper ore with lower grade copper is ongoing, allowing for an increased throughput to the two filter presses. However, a portion of the high-grade ore will continue to be stockpiled until the flotation expansion project is completed.

The Group is undertaking an additional expansion of the capacity of the Gedabek flotation plant which will include installing specialised flotation cells (Imhoflot), a thickener and an additional two filter presses and associated equipment. This is expected to be completed during the first quarter of 2026 (Q1 2026). The expansion will be carried out without any interruption to the operation of the flotation plant.

3           The Demirli plant started operation in July 2025 and is currently being commissioned. A ball mill at the plant has also recently been brought into operation to work alongside the operating SAG mill. The Demirli guidance is based on data from an old block model of the ore body which is incomplete and there is currently also no deep geological block model for the Demirli deposit. This makes mining scheduling of ore feed to the flotation plan problematic. However, feed rates to the plant are continuing to increase as the process equipment is commissioned and the process capability expanded.  The guidance may therefore be subject to revision as commissioning continues throughout the rest of 2025.

4           The turnover and EBITDA guidance uses a gold price of $3,500 per ounce and a copper price of $10,000 per tonne for the quarter from October to December 2025 (Q4 2025).

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Notes to editors

Anglo Asian Mining plc (AIM:AAZ) is a copper and gold producer with a high-quality portfolio of production and exploration assets in Azerbaijan. The Company produced 377 tonnes of copper and 15,073 ounces of gold for the year ended 31 December 2024. In the six months to 30 June 2025, the Company produced 1,188 tonnes of copper and 12,115 ounces of gold.

The Company's strategic plan for growth shows a clearly defined path for the Company to transition to a multi-asset, mid-tier, copper and gold producer by 2030, by which time copper will be the principal product of the Company, with forecast annual production of around 50,000 to 55,000 tonnes of copper. It plans to achieve this growth by bringing into production three new mines during the period 2027 to 2030 at Xarxar, Garadag and Zafar, in addition to the newly opened Gilar and Demirli mines. Production commenced at the Gilar mine in May 2025 and Demirli in July 2025. https://www.angloasianmining.com/