Sanderson Loan Drawdown and Issue of Equity

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN REGULATION NO. 596/2014 (AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) AND IS IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 7 OF THAT REGULATION.

10 December 2024

Eurasia Mining PLC

Sanderson Loan Drawdown and Issue of Equity

Eurasia Mining PLC ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold mining company, announces that, pursuant to its trade finance loan agreement with Sanderson Capital Partners Limited ("Sanderson") (the "Loan") as announced on 6 September 2024, the Company has elected to drawdown a further £150,000 from Sanderson, which will be used for general corporate purposes.

Following the passing of the resolutions at the Company's Annual General Meeting held on 15 November 2024, Eurasia has also issued ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") to Sanderson in conjunction with the Loan:

·      14,021,739 Ordinary Shares issued pursuant to the Loan financing fee and associated legal costs, issued at 2.3 pence each, representing a premium of 16% to the Company's closing price of 1.98 pence on 9 December 2024 (the "Latest Closing Price");

·      A fee of 5% paid in Ordinary Shares, being 500,000 in number, issued pursuant to the conversion of the first tranche drawdown of £250,000, converted at a price of 2.5 pence each, representing a premium of 26% to the Latest Closing Price; and

·      A fee of 5% paid in Ordinary Shares, being 300,000 in number, issued pursuant to the second drawdown of £150,000, converted at a price of 2.5 pence each, representing a premium of 26% to the Latest Closing Price.

In addition, pursuant to the terms of the Loan, warrants over 54,347,826  Ordinary Shares have been granted to Sanderson (the "Warrants"). The Warrants have an exercise price of 4.0 pence, representing a premium of 102% to the Latest Closing Price, and will expire on 10 December 2026.

The Company will provide updates regarding further drawdowns of the Loan as appropriate.

Application for Admission and Total Voting Rights

Application will be made for the 14,821,739 new Ordinary Shares to be admitted to trading on AIM ("Admission") and dealings are expected to commence on or around 16 December 2024. The new Ordinary Shares will rank pari passu in all respects with the Company's existing Ordinary Shares.

Following Admission, the Company will have 2,879,381,734 Ordinary Shares in issue. The Company has no shares in treasury, therefore the figure of 2,879,381,734 Ordinary Shares should be used by shareholders 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.

For further information, please contact:

Eurasia Mining Plc

Christian Schaffalitzky

+44 (0)207 932 0418

SP Angel Corporate Finance LLP (Nomad and Broker)

Jeff Keating / David Hignell / Adam Cowl

+44 (0)20 3470 0470

Yellow Jersey PR (Financial PR) 

Charles Goodwin / Shivantha Thambirajah                              

+44 (0)207 932 0418

[email protected]