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Imara Gold Plc

('Imara Gold' or the 'Company')

Memorandum of Understanding Signed for Major Botswana Gold Strategic Partnership

Imara Gold Plc (LSE: IGLD), the African focused gold company, is pleased to announce that it has entered into a Memorandum of Understanding ("MOU") with Geowise Resources (Pty) Limited ("Geowise") which formalises a strategic partnership over exploration licenses with Geowise, with the key objectives of identifying high-value gold exploration and near-term mine development projects in Botswana.

Geowise is a well established and highly experienced exploration, geological and geosciences company, with a broad portfolio of gold and precious metal, base metal, critical minerals and bulk commodity projects located throughout Botswana.

Under the terms of the MOU, Imara and Geowise, have identified an initial two exploration licenses (the "Projects"), that Imara will be granted a 90-day exclusive period of time to complete its preliminary technical due diligence on. In return for being granted this exclusivity, Geowise will be issued with ordinary shares in Imara to the value of GBP 50,000 at a price of 0.3 pence per share (the "Exclusivity Shares").

On completion of satisfactory due diligence by Imara on the Projects, it is proposed that Imara and Geowise will then agree the key commercial terms and relevant shareholding in new gold joint ventures to be established over the Projects. The parties will at that point in time also agree on a schedule of activities and a budget to carry out the entire gold exploration, resource estimation and planning for feasibility studies to facilitate gold mining activities to commence on the Projects. These exploration programs will include amongst other things, remote sensing studies, geological mapping, systematic trenching and channel sampling followed by planning of boreholes and core drilling, core logging and analysis of cores and fire assay for gold and silver.

Imara has agreed to appoint Geowise as the Project Manager of each of the proposed gold exploration joint ventures and to carry out the entire exploration work and ascertain feasibility of the Projects to commence commercial mine development and gold production.

The Company and Geowise have agreed that the MOU will focus initially on the prospecting licences PL002146/2025 and PL00222/2025 which are located in the Tati Greenstone Belt and in Serule respectively and which extend over an area of 1,616km².

The strategic partnerships with Geowise reinforce Imara's commitment to achieving its strategy of positioning itself as a leading and diversified gold-focused mining and exploration company in Africa.

The decision to expand the Company's activities into Botswana, in addition to its activities in Kenya, Tanzania and Zambia, is based on the highly attractive and proven gold endowment in the country's greenstone belts and the country's stable government, pro-mining policies and established infrastructure which makes it a highly attractive and secure location for gold mining operations, with strong regulatory support and reduced operational and investment risks.

Exclusivity Shares and Total Voting Rights:

The Exclusivity Shares will be freely tradable, not subject to any trading restrictions or lock-in provisions and free of any encumbrances.

The Exclusivity Shares, when issued, will be fully paid and will rank pari passu in all respects with the existing ordinary shares, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.

Following issuance of the Exclusivity Shares, the total number of ordinary shares with voting rights in issue in the Company will be 2,679,911,925.

The above 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 FCA's Disclosure Guidance and Transparency Rules.

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For further information visit www.caracalgold.com or contact the following:

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Notes:

Imara Gold plc is an expanding African focused gold company with a clear strategy to grow gold production and gold resources both organically and through strategic acquisitions and partnerships in East Africa.

Headquartered in Nairobi, Kenya, Imara is a responsible mining and exploration company and supports the positive social and economic change that it contributes to the communities in the regions that it operates. It is a proudly African-focused company: it buys locally, employs locally, and protects the environment and its employees and their families' health, safety and wellbeing.