Commercial-Scale Expansion at Mojimoto & Kabete

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9 October 2026

Amigo Resources PLC
("Amigo" or the "Company")

OPERATIONAL UPDATE: ACCELERATING COMMERCIAL-SCALE EXPANSION AT MOJIMOTO & KABETE

Amigo Resources PLC (LSE: AMGO) is pleased to announce rapid progress across its Tanzanian operations, as both Mojimoto and Kabete advance seamlessly from pilot-scale production into integrated, commercial-scale processing hubs.

Highlights

Rapid Infrastructure Buildout & Capacity Expansion

Following successful pilot validation, Amigo is rapidly executing the next phase of its growth strategy across its Tanzanian operational hubs.

All major high-capacity grinding, crushing, gravity, and secondary leaching equipment has arrived at both Mojimoto and Kabete. Dedicated technical teams are actively installing these assets, replacing initial pilot units with full-scale, integrated processing plants. Refer to the Appendix for pictures of the operations and equipment.

Upon operational activation, each site will feature a planned processing capacity of 300 TPD, establishing a robust, commercial-scale production engine capable of treating 600 TPD combined.

Flexible Flowsheet & PGM Co-Recovery Upside

The expanded plant configuration delivers substantial operational advantages by enabling simultaneous treatment of fresh ROM ore and historical tailings. Reprocessing tailings alongside primary ore maximises resource efficiency and accelerates production throughput.

Crucially, the expanded plant configuration has been engineered to capture and produce a PGM-bearing concentrate. This concentrate will be collected and stockpiled on-site for specialised processing and evaluation, unlocking a potential supplementary revenue stream in alignment with Amigo's strategic critical minerals mandate.

This concentrate will be used to progress the evaluation of a pyrometallurgical copper-matte treatment route in Tanzania. To support initial concentrate-treatment development and metallurgical test work, Amigo and AK Corporation has successfully mobilised a Stationary Reverberatory Smelting Furnace and Induction Furnace for Copper Matte and PGM Recovery.

Under the proposed pyrometallurgical process, suitable PGM-bearing concentrates would be combined with copper- and sulphur-bearing materials to produce a PGM-bearing copper matte. This intermediate product would be suitable for further refining or direct sale to an appropriate downstream processor.

The development of the proposed copper-matte operation remains strictly subject to successful metallurgical test work, economic evaluation and detailed engineering.

Development Status At-A-Glance

Next Steps & Operational Reporting Schedule

Subject to receipt of final regulatory environmental clearances with respect to the use of specific chemicals in the chemical leaching circuit and completion of site commissioning, both facilities will transition into commercial production during Q4 2026. This milestone marks a definitive turning point for Amigo, transforming its Tanzanian operations into a high-capacity, multi-commodity processing platform.

In line with the Group's established transparency policy, Amigo notes that monthly production metrics will not be released during this active installation and transition phase. The monthly operational updates will resume in the next reporting cycle once the new 600 TPD integrated processing circuits are fully commissioned and commercial production is achieved.

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

"Delivering all major equipment to site at Mojimoto and Kabete, the Company's 51% owned Tanzanian gold operations, marks a tremendous operational achievement for our team as we build out our combined 600 TPD commercial processing platform.

Moving decisively from pilot processing into full-scale integrated production reflects our commitment to execution and operational velocity on the ground in Tanzania.

By engineering our new processing plants to treat both fresh ore and historical tailings, we have built a highly agile operating model.

Whilst the operations do not have JORC Reserve or JORC Resource … our internal forecast is for gold recovery of between 2.5 grams and 3.0 grams per ton of ore processed … using the installed capacity of 300TPD, production from each beneficiation plant is forecasted to be between 20 kgs and 25 kgs of gold per month.

Furthermore, the co-recovery of PGM-bearing concentrate alongside primary gold gives us an immediate, additional value layer.

While gold production reports are paused during this active build and installation phase, completing this plant expansion will directly power our ongoing monthly production and revenue trajectory once the next reporting cycle commences, delivering sustained long-term value across our Tanzanian asset base."

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (UK MAR). The Company has implemented its disclosure controls and procedures in connection with this announcement. The Company confirms that, upon publication of this announcement, this inside information is now considered to be in the public domain.

Contacts:

About Amigo Resources PLC

Amigo is a public limited company registered in England and Wales with registration number 10024479. Amigo is focussed on gold, Platinum Group Metals (PGMs), and rare earth mining opportunities in Africa. 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 (LSE: AMGO).

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 relating to expected future production, throughput capacity, processing rates, and operational performance. Such statements involve known and unknown risks and uncertainties, and actual results may differ materially from those expressed or implied. Target throughput capacities (including 300 TPD per site and 600 TPD combined), gold recovery, and recovery timelines remain subject to successful equipment installation, commissioning, local power stability, operational reliability, ore suitability and specification, ongoing metallurgical performance, and final environmental clearances. Both Mojimoto and Kabete do not have a Mineral Resource or an Ore Reserve, and no Mineral Resource or Ore Reserve has been estimated for either Mojimoto or Kabete. There is no certainty that further works, including exploration, will result in the estimation of a Mineral Resource.

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.

Appendix

Operations and Equipment Photographs

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