8 December 2021 

Capital Metals plc

("CMET" or the "Company")

Initiation of Research

Capital Metals plc (AIM:CMET), a natural resources company focused on the development of the Eastern Minerals Project located in the Eastern Province in Sri Lanka ("the Project"), one of the highest-grade mineral sands projects globally, announces that WH Ireland ("WHIe") has recently initiated coverage on the Company. with a target share price of 33p.

WHIe commented:

"Low capital cost of $40m (WHIe) ensures the Project is robust and we see fair value at 33.3p from a risked DCF. Milestones and risk reduction as Capital (Metals) goes through the various stages should see us lower our risk rating."

The full text of the Research initiation can be found at WHIe's website as follows:

https://www.whirelandplc.com/research-portal

No material new financial or other information is provided.

For further information, please visit www.capitalmetals.com or contact: 

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