23 September 2022

CENTRAL ASIA METALS PLC

("CAML" or the "Company")

Allotment and Issue of Shares

Central Asia Metals plc (AIM: CAML), announces that the Company has issued and allotted 5,600,000 ordinary shares of US$0.01 each in the Company (the "New Ordinary Shares") to the trustee of the Central Asia Metals employee benefit trust (the "EBT").  These New Ordinary Shares have been issued for the purposes of satisfying current awards granted under the Company's Employee Share Plans together with any future awards that may be granted by the Company.  Currently, there are outstanding rights under such plans to acquire up to 6,500,000 ordinary shares. Under the Trust deed the trustee must waive dividends and refrain from voting unless the Board directs otherwise.

Application has been made to the London Stock Exchange for 5,600,000 New Ordinary Shares to be admitted to trading on AIM ("Admission"). The New Ordinary Shares will rank pari passu with the existing issued ordinary shares of the Company. It is expected that Admission will become effective and that trading in the New Ordinary Shares will commence at or around 8.00 am on 27 September 2022.

Following the issue of the New Ordinary Shares, the Company's issued share capital will comprise 182,098,266 ordinary shares of US$0.01 each. The Company holds 471,647 shares in treasury. The total number of voting rights in the Company is therefore 181,626,619. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

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Note to editors:

Central Asia Metals, an AIM-listed UK company based in London, owns 100% of the Kounrad SX-EW copper project in central Kazakhstan and the Sasa zinc-lead mine in North Macedonia.

For further information, please visit www.centralasiametals.com and follow CAML on Twitter at @CamlMetals and on LinkedIn at Central Asia Metals Plc.