Exploration Update – Musensi Hill Project

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE                                                                                                                                 1 July 2026

Amigo Resources PLC

("Amigo" or the "Company" and together with its subsidiaries, the "Group")

Amigo Resources PLC (AIM: AMGO) is pleased to announce an update on the ongoing geological mapping and reconnaissance sampling programme at its Musensi Hill Rare Earth and Critical Minerals Project, Prospecting Licence PL/12668/2024 (the "Project"), in the Songwe Region of Tanzania.

The current field programme is focused on systematic geological mapping, lithological characterisation, structural interpretation and representative bedrock sampling across the Musensi Hill carbonatite complex. This work forms part of the Group's phased exploration strategy to establish the geological architecture of the Project prior to geochemical interpretation and drill target generation.

•    Systematic geological mapping has identified multiple carbonatite lithologies distributed across the Project area.

•    Geological mapping has confirmed the presence of the following carbonatite units:

-    Calcitic carbonatite

-    Ferruginous carbonatite

-    Carbonatite tuff

-    Ferruginous carbonatite tuff

-    Agglomeratic carbonatite

-    Carbonate lapilli tuff

-    Carbonatite breccia and volcaniclastic carbonatite

•    The surrounding basement has been confirmed as Precambrian granite gneiss, defining the geological framework into which the carbonatite system has been emplaced.

•    Multiple sharp contacts have been mapped between granite gneiss basement and mafic/carbonate dykes; the dykes cross-cut the gneissic foliation, confirming emplacement post-dates the regional basement.

•    Contacts between granite gneiss and carbonatite tuff demonstrate the coexistence of intrusive and volcanic carbonatitic phases within the project area.

•    Contacts between calcitic carbonatite and ferruginous volcanic carbonatite units have been mapped, further refining the internal geological architecture of the carbonatite system.

•    River exposures have provided excellent outcrop conditions, enabling detailed mapping of lithological contacts, intrusive relationships and structural features.

•    Representative bedrock samples are being collected systematically from all principal lithologies and contact zones for laboratory analysis.

The geological data collected to date indicates that Musensi Hill comprises a well-developed, multiphase carbonatite system consisting of both intrusive and volcanic carbonatite facies emplaced into Precambrian granite gneiss basement.

The recognition of carbonatite tuffs, lapilli tuffs, agglomeratic carbonatites, intrusive carbonatite bodies and associated mafic intrusive rocks provides an increasingly coherent geological model for the Project. The cross-cutting relationship of mafic and carbonate dykes against the regional gneissic foliation is consistent with multiple intrusive events associated with the evolution of the carbonatite complex. The preservation of volcanic carbonatite units further indicates that both intrusive and explosive volcanic processes contributed to the development of the system.

Carbonatite complexes are recognised globally as important geological hosts for rare earth elements (REE), niobium, phosphate, strontium, barium, fluorite and other critical minerals. While laboratory analytical results remain pending, the geological framework being established at Musensi Hill provides the Group with an important foundation for evaluating the critical mineral potential of the Project.

Representative bedrock samples have been collected from the following lithologies and contact zones:

•    Calcitic carbonatite

•    Ferruginous carbonatite

•    Carbonatite tuff

•    Ferruginous carbonatite tuff

•    Carbonate lapilli tuff

•    Agglomeratic carbonatite

•    Carbonatite breccia

•    Granite gneiss basement

•    Mafic intrusive dykes

•    Contact zones between granite gneiss and mafic dykes

•    Contact zones between granite gneiss and carbonatite tuff

•    Contacts between individual carbonatite lithologies

Samples have been submitted, or are being prepared, for comprehensive multi-element geochemical analysis to evaluate rare earth element and associated critical mineral signatures.

The exploration programme will continue with the following activities:

•    Detailed geological mapping across the remaining Project area

•    Extension of lithological traverses

•    Structural mapping of intrusive contacts and dykes

•    Petrographic studies of representative rock samples

•    Multi-element geochemical analysis of collected samples

•    Integration of geological mapping with planned geophysical datasets

•    Generation and prioritisation of drill targets

Craig Ransley, Executive Chairman of Amigo Resources PLC, commented:

"The exploration programme at Musensi Hill continues to strengthen our understanding of what is emerging as a well-developed carbonatite system. Recent mapping has confirmed multiple intrusive and volcanic carbonatite lithologies, established the Precambrian granite gneiss basement, and identified key intrusive contacts where mafic and carbonate dykes cross-cut the basement rocks. These observations significantly advance our geological model and provide an increasingly robust framework for evaluating the Project's potential for rare earth elements and associated critical minerals.

Our exploration programme remains systematic and disciplined. Laboratory analyses are currently underway and will be integrated with the geological mapping to guide the next phase of work, including drill target generation."

The Company wishes to emphasise that this announcement relates solely to geological mapping observations, lithological characterisations and field sampling activities. No laboratory assay results have been received at this time and no conclusions regarding the presence, grade, continuity or economic significance of rare earth element or other critical mineral mineralisation can be drawn until analytical results have been received, quality-assured and interpreted in their geological context.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014.  

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About Amigo Resources PLC

Amigo is a public limited company registered in England and Wales with registered number 10024479. Amigo is focussed on gold and rare earth mining opportunities in Africa, principally in Tanzania and Mauritania. The Amigo Shares are listed on the Official List of the Financial Conduct Authority and traded on the Main Market of the London Stock Exchange

Important Notice & Caution Regarding Forward-Looking Statements

The anomalies identified by the micro-seismic survey are preliminary exploration targets based on geophysical interpretation. The presence of an anomaly does not necessarily indicate the presence of economic mineralisation. Further exploration, including drilling and analytical testing, will be required to determine the nature and significance of these features.

This announcement is not intended to, and does not, constitute or form part of any offer, invitation, or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell, or otherwise dispose of, any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to this announcement or otherwise.

This announcement contains forward-looking statements concerning Amigo Resources PLC. Forward-looking statements are not statements of historical fact, and actual events and results may differ materially from those described in the forward-looking statements as a result of a variety of risks, uncertainties, and other factors. Forward-looking statements in this document are based on Amigo's beliefs, opinions, and estimates as of the dates the forward-looking statements are made, and no obligation is assumed to update forward-looking statements if these beliefs, opinions, or estimates should change or to reflect other future developments