NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES OR JAPAN.

For immediate release

20 December 2021

Horizonte Minerals Plc

("Horizonte" or the "Company")

Result of Open Offer and Total Voting Rights

Horizonte (AIM: HZM, TSX: HZM), announces that it has conditionally raised total gross proceeds of approximately US$0.22 million (approximately £0.16 million) through the Open Offer which was announced on 23 November 2021.

Result of Open Offer

The Company is pleased to announce that it has received valid acceptances from Qualifying Shareholders in respect of 2,300,735 Open Offer Shares at a price of 7.0 pence per share.

The Company has applied to the London Stock Exchange plc for Admission to AIM and to the Toronto Stock Exchange (the "TSX") to list 2,102,209,850 new Ordinary Shares ("Admission"). The new Ordinary Shares will rank pari passu with the existing Ordinary Shares. It is expected that admission to AIM of the new Ordinary Shares will occur at 8:00 am on or around 22 December 2021 and admission to the TSX on or around 22 December 2021. The listing on the TSX will be subject to approval of the TSX (as applicable) and fulfilling all the requirements of the TSX.

The Equity Fundraise, Strategic Investments and Open Offer remain conditional, inter alia, upon (i) the resolutions having been passed by shareholders at the General Meeting to be held today 20 December 2021; (ii) the placing agreement and agency agreement not being terminated in accordance with its terms; and (iii) Admission having become effective by no later than 22 December 2021. The Company will announce the results of the General Meeting as soon as practicable after the meeting concludes. 

Total Voting Rights

In accordance with the provision of the Disclosure Guidance and Transparency Rules of the FCA ("DTRs"), the Company confirms that, following Admission, its issued share capital will comprise 3,802,365,590 Ordinary Shares, each of which carries the right to vote, with no Ordinary Shares held in treasury. This figure may be used by Shareholders 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, the Company under the DTRs.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the announcement of the Equity Fundraising made by the Company on 23 November 2021.

Incorporated by Reference

This press release is incorporated by reference in, and forms a part of, the prospectus supplement of the Company dated November 24, 2021 to the base shelf prospectus of the Company dated October 29, 2021, filed in each of the territories and provinces of Canada, other than Quebec.

About Horizonte Minerals:

Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil. The Company is developing the Araguaia project, as the next major ferronickel mine in Brazil, and the Vermelho nickel-cobalt project, with the aim of being able to supply nickel and cobalt to the EV battery market. Both projects are 100% owned.

For further information, visit www.horizonteminerals.com or contact:

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America.  This announcement is not an offer of securities for sale into the United States.  The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration.  No public offering of securities is being made in the United States.

Cautionary Statements Regarding Forward-Looking Information

This announcement contains "forward-looking information" including as that term is defined under applicable Canadian securities legislation. Such information includes but is not limited to, the closing of the Equity Fundraise, Strategic Investments and Open Offer; and the receipt of required approvals, including the approval of the TSX. Generally, forwardlooking information can be identified by the use of words such as "plans", "expects" or "is expected", "scheduled", "estimates" "intends", "anticipates", "believes", or variations of such words and phrases, or statements that certain actions, events or results "can", "may", "could", "would", "should", "might" or "will", occur or be achieved, or the negative connotations thereof. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such information. These risks include, without limitation, risks related to AIM Admission and the approval of the TSX and other applicable securities regulatory authorities, a failure to obtain adequate financing on a timely basis and on acceptable terms, political and regulatory risks associated with mining and exploration activities, including environmental regulation, risks and uncertainties relating to the interpretation of drill and sample results, risks related to the uncertainty of cost and time estimation and the potential for unexpected delays, costs and expenses, risks related to metal price fluctuations, the market for nickel and cobalt products, other risks and uncertainties related to the Company's prospects, properties and business as well as those risk factors discussed or referred to herein and in the Company's disclosure record, including in its annual information form for the year ended December 31, 2020 filed with the securities regulatory authorities in all territories and provinces of Canada, other than Quebec, and available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates, assumptions or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking information. The information in this announcement is subject to change.