THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO, THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA), CANADA, AUSTRALIA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT (THE "ANNOUNCEMENT") IS DEEMED BY THE GROUP TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

17 December 2025

Asiamet Resources Limited

US$3.1 million Subscription

Asiamet Resources Limited ("Asiamet" or the "Company") is pleased to announce it has raised a total of approximately US$3.1 million (approximately £2.3 million), via a direct subscription by the Company's majority shareholder PT Buma International Tbk. ("BUMA"), certain members of the Board and Management team and several other investors (together, the "Subscription"). Pursuant to the Subscription, a total of 149,387,512 new common shares of US$0.01 each ("Common Shares") will be issued at a price of 1.55 pence (approximately US$0.02) per share (the "Issue Price").

Highlights of the Subscription:

·    Strategic shareholder BUMA, subscribing for approximately US$1.37 million, maintaining its equity interest of 44.15% in the Company

·    Certain Asiamet Directors and Management subscribing for approximately US$0.24 million; and

·    Other investors subscribing for approximately US$1.49 million.

Net proceeds of the Subscription will be utilised for general working capital purposes, including to:

·    Maintain the Company's projects in good standing with all Government of Indonesia regulatory requirements;

·    Progress the satisfaction of the Conditions Precedent under the proposed sale of our interest in the KSK project via the sale of Indokal Limited; and

·    Continue the evaluation of the most value-accretive path forward for the Beutong Project.

 Darryn McClelland, Chief Executive Officer of Asiamet, commented:

"The Company remains focused on concluding the proposed sale of Indokal Limited in the short order and delivering a return of substantially all the funds from the sale to shareholders as previously outlined. The funding announced today enables the Company to maintain its projects in good standing, an important requirement under the Indokal Sale Purchase Agreement, and to advance activities towards completion of the transaction, which remains on track for completion within the previously communicated timeframe. I look forward to updating our stakeholders as we progress towards completion."

The Subscription

The Company's major shareholder BUMA has subscribed for 65,948,145 new Common Shares pursuant to the Subscription ("BUMA Shares") at the Issue Price, raising US$1.37 million.

Tony Manini, a Director and Chairman of the Company, Dominic Heaton, a Non-Executive Director of the Company, Matthew Doube, a Non-Executive Director of the Company and Darryn McClelland, Chief Executive Officer of the Company, have agreed to subscribe for, in aggregate, 11,534,530 new Common Shares pursuant to the Subscription at the Issue Price, raising US$0.24 million.

In addition, a group of other investors have subscribed for a total of 71,904,837 new Common Shares at the issue price raise gross proceeds of US$1.49 million.

On Admission, the shareholdings of the Directors/PDMRs participating in the Subscription will be as follows:

Related Party Transactions

BUMA is a substantial shareholder of the Company. BUMA's participation in the Subscription is therefore deemed to be a related party transaction under AIM Rule 13. In addition, the participation of Tony Manini, Dominic Heaton, Matthew Doube and Darryn McClelland in the Subscription is deemed to be a related party transaction under AIM Rule 13.

As such, and in compliance with the AIM Rules for Companies, the directors of Asiamet who are independent for the purposes of the Subscription (being Eva Armila and Bruce Sheng), having consulted with Strand Hanson, in its capacity as the Company's nominated adviser, consider that the terms of the related parties' participation in the Subscription are fair and reasonable insofar as the Company's shareholders are concerned.

Admission and Total Voting Rights

The Subscription is subject to, inter alia, admission of the Subscription Shares to trading on AIM (which are expected to be issued and settled in CREST to the extent possible). Application will be made to the London Stock Exchange plc for the admission of the 149,387,512 Subscription Shares to trading on AIM, which is expected to occur at 8:00 a.m. (GMT) on or around 30 December 2025 ("Admission").   

Following Admission, the Company's issued common share capital will comprise 3,393,816,362 Common Shares. From Admission, the figure of 3,393,816,362 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Note: for the purposes of this announcement figures have been calculated based on an exchange rate of US$1.3388 = £1.00

Notification and public disclosure of transactions by Persons Discharging Managerial Responsibilities ("PDMR") and persons closely associated with them ("PCA").

ON BEHALF OF THE BOARD OF DIRECTORS

Tony Manini, Chairman

-Ends-

For further information, please contact:

Darryn McClelland
Chief Executive Officer, Asiamet Resources Limited
Email: [email protected]

Tony Manini
Chairman, Asiamet Resources Limited
Email: [email protected]

Investor Enquiries

Sasha Sethi

Telephone: +44 (0) 7891 677 441

Email: [email protected] / [email protected]

Nominated & Financial Adviser
Strand Hanson Limited

James Spinney / James Dance / Rob Patrick

Telephone: +44 20 7409 3494

Email: [email protected]

Broker

Shore Capital
Toby Gibbs / George Payne

Telephone: +44 20 7408 4050

Follow us on twitter @AsiametTweets

FORWARD-LOOKING STATEMENT

This announcement contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements.   Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices.  There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.  Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.