21 September 2021

Caerus Mineral Resources PLC

('Caerus' or the 'Company')

Proposed Placing and Subscription

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OF SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR A SOLICITATION TO BUY SECURITIES IN ANY JURISDICTION, INCLUDING THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR JAPAN. NEITHER THIS ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, ANY OFFER OR COMMITMENT WHATSOEVER IN ANY JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU AS IT FORMS PART OF THE LAW OF ENGLAND AND WALES BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. IN ADDITION, MARKET SOUNDINGS WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

Caerus Mineral Resources plc ("Caerus Mineral Resources" or the "Company") is pleased to announce a proposed Placing (the "Placing") of up to 7.2M shares at a price of 20p per ordinary share (the "Placing Price") to raise ca. GBP 1.44M. A parallel Subscription of 300K shares to raise ca. GBP 60K has been completed with a single subscriber under the same Terms and Conditions as the Placing. For every 2 Placing and Subscription shares, a Warrant ("Warrant") will be issued, exercisable for two years from completion at a price of 30p per new Ordinary Share. 

Novum Securities Limited is acting as sole bookrunner, and the Placing is neither underwritten nor are the Placing Shares being made available to the public.

At Admission, the core of the Company licence catalogue comprised the Kalavasos, Mala and North Mathiatis projects for which exploration expenditure was fully provisioned until mid-2022.

Following Admission, the Company announced the acquisition of PR Ploutonic Resources Limited (PRL) and GC (Gold Mines) Limited (GCML) on 11 June 2021 and 28 June 2021, respectively, expanding the total number of licences under ownership to 16. Further details are given in the Company's RNS announcements on the aforementioned dates and on the Company website.

The proceeds of the Placing will be used primarily to fund the accelerated development towards the production of the 'flagship' projects in the expanded portfolio of properties from the acquisitions. Advancement of these properties will be coordinated with Jubilee Metals Group and Bezant Resources plc in accordance with Agreements announced in May 2021 and August 2021, respectively.

Further Placing and Subscription Details

Upon completion of the Placing and Subscription, an application will be made to the Financial Conduct Authority ("FCA") and the London Stock Exchange for the 7,500,000 New Ordinary Shares, to be admitted to the Official List and to trading on the London Stock Exchange's Main Market for listed securities (the "Admission"). It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence at 8.00 a.m. on or around 05 October 2021.

Following the issue of the New Ordinary Shares, the Company's total issued share capital will consist of 61,211,258 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in Treasury and accordingly, there are no voting rights in respect of any treasury shares.

Total Voting Rights On Admission, the above-mentioned figure of 61,211,258 Ordinary Shares 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 to their interest in, Caerus Mineral Resources under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Commenting on the proposed placing and subscription, Martyn Churchouse, Chief Executive Officer, said: "Our acquisition of PR Ploutonic Resources and GC Gold Mines (Cyprus) Limited has created exciting projects with considerable potential upside from exploration success. This is reinforced by our impending Joint Venture (JV) with Bezant Resources to develop our Troulli property. We are confident that from our original portfolio at Admission, the acquisitions made since then, and the JV, we have opportunities to meet the criteria set by the Jubilee Metals Option Agreement as well as progress towards commissioning a new and modern mine in Cyprus. Supported by a strong financial position, we are pursuing fieldwork programmes and feasibility studies immediately, and in parallel".

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

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About Caerus Mineral Resources

Caerus Mineral Resources is a European focused copper-gold resource development and exploration company with a portfolio of mineral exploration licences located in Cyprus. The Country has a well-developed infrastructure and history of mineral exploration and production, which has been dormant over the last 50 years and provides significant undiscovered value.

With investors recognising copper as one of the cornerstone metals for the Clean Energy Transition centred upon the Electric Vehicle and Stationary Energy sectors, Caerus is working to rapidly expand its copper exploration and production objectives. The Caerus licence portfolio includes 16 former mines which operated with an average head grade of approximately 2% copper. 

Caerus' licence portfolio comprises brownfield sites, where historic mining has taken place, and greenfield licences, where there has been no systematic exploration. The Brownfield sites and the former high-grade copper-gold mines they host are evidence of rock types and structures conducive to Volcanogenic Massive Sulphide ("VMS") mineralisation. As VMS deposits characteristically occur in camps or clusters, it is the Company's view that its licences are prospective for both extensions to existing or mined-out orebodies together with new discoveries. 

The combination of brown and greenfield exploration provides optionality and the opportunity for the Company to quickly build a resource portfolio that can be commercially developed. 

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement

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