15 August 2025

Aterian plc
("Aterian" or the "Company")

Collaborative Launch of AI-Driven Exploration Tech

Aterian plc (LSE: ATN), the critical mineral exploration and development company, is pleased to announce that it has entered into a pioneering Memorandum of Understanding ("MoU") with a stealth-stage, machine learning start-up ("MLS") specialising in advanced computational modelling for mineral exploration. MLS is spun out from the University of Cambridge and backed by the Royal Academy of Engineering and Entrepreneurs First - a global talent investor co-founded by Matt Clifford (former AI Opportunities Advisor to Keir Starmer, UK Prime Minister).

Under the MoU, the parties will collaborate on a multi-phase pilot programme applying MLS's multimodal, explainable network inference technology to Aterian's exploration portfolio, with an initial focus on the portfolio in Morocco.

Phase 1 of the pilot will use historical exploration data from Morocco to develop and back-test a machine learning model designed to identify promising drill targets, aiming to achieve a significant reduction in drilling requirements while maintaining or improving resource estimation confidence.

Phase 2, subject to the successful completion of Phase 1 and agreement on commercial terms, will adapt the model to planned future exploration across Aterian's portfolio of pipeline projects, delivering significant cost savings and accelerating discovery timelines.

MLS's proprietary algorithms have been developed by a team with deep expertise in geophysics, artificial intelligence, and energy transition infrastructure. They are designed to enhance exploration efficiency, reduce costs, and mitigate project development risks.

Charles Bray, Chairman of Aterian, commented:

"This groundbreaking collaboration combines Aterian's strong portfolio of African-focused critical mineral assets with advanced AI technology being developed by a University of Cambridge spin-out stealth company. We already see significant potential for this partnership to deliver faster, more intelligent exploration targeting, ultimately enhancing value for our shareholders while supporting the global energy transition's demand for responsibly sourced metals.

Harnessing the power of AI to analyse and interpret complex geological data in ways never before possible opens an entirely new chapter in how we explore and discover mineral resources. We see immense potential for this partnership to accelerate Aterian's exploration planning, unlock hidden value in our portfolio, and deliver transformational benefits for our shareholders while contributing to the global energy transition's demand for responsibly sourced metals."

MLS commented:

"We are excited to work with Aterian to demonstrate the potential of our technology to materially improve exploration outcomes while reducing drilling requirements. By leveraging historical and new data, we aim to help Aterian unlock critical mineral discoveries more efficiently and sustainably."

- ENDS -

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

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For further information, please contact:

Aterian plc:

Charles Bray, Executive Chairman - charles.bray@aterianplc.com

Simon Rollason, Director - simon.rollason@aterianplc.com

Financial Adviser and Joint Broker:

Novum Securities Limited

David Coffman / Anastassiya Eley

Colin Rowbury

Tel: +44 (0)207 399 9400

Joint Broker:

SP Angel Corporate Finance LLP

Ewan Leggat / Adam Cowl 

Tel: +44 20 3470 0470

Financial PR:

Bald Voodoo - ben@baldvoodoo.com

Ben Kilbey
Tel: +44 (0)7811 209 344

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Notes to Editors:

About Aterian plc

www.aterianplc.com

Aterian plc is an LSE-listed exploration and development company with a diversified African portfolio of critical metals projects.

Aterian plc is actively seeking to acquire and develop new critical metal resources to strengthen its existing asset base while supporting ethical and sustainable supply chains as the world transitions to a sustainable, renewable future. The supply of these metals is vital for developing the renewable energy, automotive, and electronic manufacturing sectors, which are increasingly important in reducing carbon emissions and meeting global climate ambitions.

The Company has entered into a joint venture agreement with Rio Tinto Mining and Exploration Limited. Rio Tinto are earning into the HCK project in southern Rwanda, exploring and developing a lithium-tantalum-niobium-tin mining operation. The Company also holds an exploration licence in Rwanda. Aterian has a portfolio of multiple copper-silver (+ gold) and base metal projects in Morocco. Aterian holds a 90% interest in Atlantis Metals. This private, Botswana-registered company holds ten mineral prospecting licences for copper-silver in the world-renowned Kalahari Copperbelt and three for lithium brine exploration in the Makgadikgadi Pans region.

The Company's strategy is to seek new exploration and production opportunities across the African continent and to develop new sources of critical mineral assets for exploration, development, and trading.