Operational Update: From Vision to Execution

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FOR IMMEDIATE RELEASE                                                                                                  24 July 2026

Amigo Resources PLC

("Amigo" or the "Company")

Operational Update: From Vision to Execution

Amigo Resources PLC (LSE: AMGO) is pleased to provide an update on its Tanzanian operations. Following the successful grant of Processing Centre Licences (PCLs) at both Mojimoto and Kabete, Amigo has transitioned from planning into execution. The Company's PCL strategy - working alongside local miners, reprocessing historical tailings, and processing material generated from its own exploration programmes - is now being implemented on the ground.

Significant operational milestones have already been achieved:

•        Water supply infrastructure has been completed through dedicated borehole drilling.

•        Electrical power has been connected to the project sites.

•        Approximately 6,000 tonnes of historical tailings have already been relocated and prepared for processing.

•        Around 1 million tonnes of historical tailings suitable for reprocessing have been identified.

•        Extensive metallurgical test work has been completed in Amigo's internal laboratory, with independent external laboratory verification now underway.

•        Tailings are now being transported to the processing sites.

•        Civil works are progressing for two pilot processing facilities, each designed to process approximately 200,000 tonnes per annum per site.

Based on the technical work completed to date, Amigo is confident that each of our two pilot facilities is capable of supporting an initial production target of approximately 20 kg of gold per month per plant now that commissioning has been completed.

Exploration Activity - Big Mine

In parallel with the development of the processing facilities, exploration activity at the Big Mine area is continuing. Micro-seismic survey work remains ongoing, building on the geophysical programmes completed to date, and a trenching programme is actively underway to test surface mineralisation and refine targets for follow-up work. Results from these programmes will be reported once received, validated and reviewed.

These projects represent the practical implementation of Amigo's long-term philosophy of building sustainable mineral processing hubs that benefit both shareholders and local communities. The facilities will provide artisanal miners with access to modern, mercury-free gold recovery technologies while simultaneously cleaning up legacy tailings that have remained untreated for many years.

By converting historical environmental liabilities into economic assets, the projects deliver a strong Environmental, Social and Governance (ESG) outcome through:

•        Reduction of mercury use in artisanal mining.

•        Rehabilitation and clean-up of historical tailings.

•        Creation of sustainable employment and local economic activity.

•        Improved environmental stewardship while increasing precious metal recovery.

Amigo believes the combination of responsible mining, innovative processing technology and strong community partnerships provides a scalable platform for future growth across Tanzania.

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

"Looking ahead, Mojimoto and Kabete represent only the beginning of a much broader strategy. Amigo intends to replicate this Processing Centre model across Tanzania, creating a network of sustainable processing hubs that integrate local miners into the formal mining economy while unlocking value from historical tailings and supporting future exploration discoveries.

The Company's long-term vision extends beyond processing plants. By combining processing infrastructure, mercury-free technology, digital microfinance, responsible gold trading, exploration and environmental rehabilitation, Amigo aims to create one of Africa's first fully integrated artisanal mining ecosystems.

The progress achieved over recent months gives management confidence that the Company is moving decisively from exploration into sustainable production. Amigo is no longer simply identifying opportunities-we are building processing infrastructure, rehabilitating historical mining areas, empowering local communities, implementing mercury-free technology, expanding financial inclusion through innovative digital solutions and creating a scalable production platform designed to deliver long-term value for shareholders and lasting benefits for Tanzania.

Our vision is simple: to transform artisanal mining from an informal sector into a modern, responsible and financially inclusive industry that benefits miners, communities, governments and shareholders alike.

As we accelerate our transition into a gold producer, the Board remains committed to exploring transformative strategic opportunities that may significantly enhance the scale of our operations, including a potential RTO. While these evaluations are at a preliminary stage and remain exploratory, they represent our ambition to provide the requisite platform for our high-velocity growth."

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

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

 Picture 1 - Historical tailings moving to the processing area

 Picture 2 - Construction material on site

Picture 3 - Tailings transporting to PCL site

 Picture 4 - Water drill on site

Pictures 5 and 6 - High grade ore being delivered to mercury free site of Amigo