26 September 2023

CENTRAL ASIA METALS PLC

('CAML' or the 'Company')

Purchase of Shares and Option Exercise by Director

The Company (AIM:CAML) was notified on 25 and 26 September 2023 that Mr Gavin Ferrar, Chief Financial Officer of the Company, undertook the following dealings in the Company's ordinary shares of US$0.01 each ('Shares'):

1.   Purchase of Shares

Mr Ferrar purchased 6,816 Shares on 25 September 2023 at a price of £2.053747 per Share; and 3,112 Shares on 26 September 2023 at price of £2.09195 per Share. The Shares were purchased on the open market.

Following these acquisitions, Mr Ferrar owns a total of 9,928 Shares.

2.   Exercise of Options

Mr Ferrar exercised nominal cost options over Shares on 25 September 2023 at an exercise price of US$0.01 per the table below. The option exercise was settled by the Company in cash at £2.0408027 per Share in accordance with the Rules of the Central Asia Metals plc Employee Share Plan 2011 (as amended) (the "Plan"). Under the Plan, the cash settlement is calculated as the difference between the average of the middle-market quotations (from the Daily Official List of the London Stock Exchange) for the preceding five days and the exercise price of US$0.01. No actual Shares were sold or acquired in this process and Mr Ferrar's number of options outstanding has reduced by 203,442 as shown below.

¹ includes accrued dividends

² before any adjustments for accrued dividends

For further information contact:

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 100% of the Sasa zinc-lead mine in North Macedonia.

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