Jubilee Metals Group PLC

Registration number: 4459850

AIM share code: JLP

Altx share code: JBL

ISIN: GB0031852162

('Jubilee' or 'the Company' or 'the Group')

Dissemination of a Regulatory Announcement that contains inside information according to UK Market Abuse Regulations. Not for release, publication or distribution in whole or in part in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.

Strategic Investment to Support Copper Growth Strategy

Jubilee, the integrated copper producer and resource developer in Zambia, announces that it has secured a US$1.5 million unsecured convertible loan note investment specifically designated for the accelerated development of the greater Molefe region. The investor holds a successful track record in the development of various copper projects and formed part of the team behind the development of Mantos Copper and its subsequent merger with Capstone Copper (Investor).

This initial investment reflects the Investor's keen interest in supporting Jubilee's copper exploration and mining strategy in Zambia, including the development of the greater Molefe region, beyond the current mining area.

The Investor recognises the potential value offered by the Company's exploration and mining strategy that seeks to significantly expand its near surface Molefe mining operation while targeting similar near surface copper deposits in the greater Molefe region. In this regard, discussions continue for a further US$10 million staggered investment. This offers the unique opportunity to commence copper production through the nearby Sable refinery while simultaneously concluding a detailed resource drilling program.

Leon Coetzer, CEO of Jubilee, commented:

"We are pleased to secure this initial investment, which reflects growing confidence in our copper strategy and the broader opportunity within our Zambian portfolio.

The facility provides near-term funding flexibility to aggressively pursue additional exploration and mining opportunities within the greater Molefe region, while we advance discussions around a potential longer-term strategic partnership aimed at supporting resource expansion, processing capacity growth and increased copper production across the broader Zambia platform.

Importantly, our approach combines ongoing copper production from our processing operations with the concurrent development of a scalable resource base at the Molefe Mine, reflecting Jubilee's differentiated model of building resources alongside production.

This balanced approach underpins both near-term performance and long-term value creation as the scale of the resource is defined progressively."

Convertible Loan

Jubilee has secured a US$1.5 million unsecured convertible loan note investment (CLN) with the Investor. The Company requires shareholder approval at an extraordinary general meeting (EGM) to allot and issue shares or grant rights to subscribe for or convert any securities into shares. The Investor has agreed an initial interest rate on the convertible loan that is below rates typically offered by banking institutions on similar funding structures, reflecting the Investor's support for the Company's copper growth strategy.

In terms of the CLN, the Company has sixty days from the date of this announcement to obtain shareholder approval. The Investor has agreed to convert the loan into shares immediately following shareholder approval. The CLN will be converted at a price per share being the 20-day volume weighted average price on the London Stock Exchange prior to the drawdown date of the CLN. Should approval not be obtained, the interest rate on the convertible loan will be increased to align with interest rates on typical medium term unsecured loan funding and the loan will be repayable within twelve months after the drawdown date.

Strategic Context and Potential Expansion

The Investor has expressed a broader interest in supporting Jubilee's long-term copper growth strategy, including the expansion of the Company's resource base within the greater Molefe licence area. The proposed investment structure is intended to ensure that capital is deployed directly into project development, aligning the Investor's participation with the advancement of Jubilee's underlying assets and the potential to build a longer-term strategic position in the Company.

Subject to ongoing discussions, due diligence and agreement between the parties, the Investor has indicated potential funding of up to US$10 million over time to support Jubilee in the acquisition of additional licence areas, exploration activities and the advancement of the greater Molefe licence area.

There can be no certainty that any further investment will be completed, and further updates will be provided as appropriate.

Potential Collaboration Opportunities

The Company is also in discussions with the Investor regarding potential collaboration through its processing expertise across a broader scope of initiatives. These opportunities remain subject to further evaluation, negotiation and formal agreement.

A further announcement containing details of the proposed EGM and associated resolutions will be released in due course.

28 May 2026

For further information contact:

Jubilee Metals Group PLC 

Leon Coetzer (CEO)/Jonathan Morley-Kirk (FD)

Tel: +27 (0) 11 465 1913 / Tel: +44 (0) 7797 775546

Nominated Adviser - SPARK Advisory Partners Limited 

Andrew Emmott/James Keeshan 

Tel: +44 (0) 20 3368 3555 

PR & IR Adviser - Tavistock 

Jos Simson/Gareth Tredway

Tel: +44 (0) 207 920 3150 

Joint Broker - Zeus Capital

Harry Ansell/Katy Mitchell  

Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618 

Joint Broker - Shard Capital Partners LLP

Erik Woolgar/Gareth Burchell

Tel +44 (0) 207 1869900 

JSE Sponsor - Questco Corporate Advisory Proprietary Limited 

Alison McLaren

Tel: +27 63 482 3802

About Jubilee Metals Group

Jubilee Metals, listed on AIM and the Altx of the JSE, is a copper producer focused on building a world-class integrated copper business in Zambia. The Company aims to reach 25 000 tonnes per annum of copper production by integrating exploration, mining, concentrating and refining through its three-pillar strategy, combining the Roan concentrator, the Sable refinery and regional mining assets and the Large Waste Rock Project. Led by an experienced team, Jubilee applies innovative technologies to transform previously underutilised materials into value while supporting circular resource use and strong environmental stewardship.

For further information, please visit www.jubileemetalsgroup.com and follow Jubilee on X at @Jubilee_Metals