Investee Company Update: Evolution Energy Minerals

20 November 2025

Metals One Plc

("Metals One" or the "Company")

Investee Company Update: Evolution Energy Minerals

Chikundo Copper Project: Expanded Soil Programme Commencing 24 November 2025

Metals One (AIM: MET1), a critical and precious metals exploration and development company, is pleased to note an announcement today by Evolution Energy Minerals Limited (ASX: EV1, FSE: P77) ("Evolution") providing an update on the planned soil sampling programme at the Chikundo Copper-Lead-Zinc Volcanic Hosted Massive Sulphide ("VHMS") prospect, located within the Chilalo Project tenements in southeast Tanzania.

Metals One owns approximately 16.9% of Evolution's issued share capital.

The highlights from Evolution's announcement follow below, and its full announcement can be viewed via Evolution's website at https://evolutionenergyminerals.com.au/asx-announcements/

Highlights

·    Major copper-focused soil programme to commence 24^th November 2025, advancing the emerging Chikundo VHMS copper system in Tanzania

·    Updated soil programme design now includes 1,558 samples planned across two priority grids covering the 1.6 km Chikundo copper corridor and the northeast anomaly

·    High-grade historical drilling by IMX confirms bedrock copper sulphides, including:

o  0.40m @ 5.27% Cu, 15.05 g/t Ag (NRD11-047)

o  6m @ 0.50% Cu, including 0.6m @ 1.35% Cu (NRD11-050)

·    Recent Evolution sampling returned highly anomalous copper, including 5,340 ppm Cu from gossanous material southwest of the Malachite Pit

·    Visible chalcopyrite beneath malachite continues to reinforce the strength and continuity of copper at surface

·    New interpretation of regional VTEM data outlines a large volcanic caldera, a setting associated with multi-deposit VHMS districts globally with Chikundo positioned on its southern margin

·    Sampling expected to take 8-12 weeks, with results released as a single, integrated dataset

·    Programme designed to prioritise targets ahead of 2026 RC drilling

Daniel Maling, Managing Director of Metals One, commented:

"As an investor in Evolution, Metals One is very encouraged to see that the programme to advance the Chikundo Copper Project will commence next week. This programme, which has now been expanded to include additional samples, will allow Evolution to refine the highest-priority copper targets in what they believe could be a much larger system, with RC drilling at Chikundo on their radar for 2026."

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About Metals One

Metals One is pursuing a strategic portfolio of critical and precious metals projects and investments underpinned by the Western World's urgent need for reliably and responsibly sourced raw materials - and record high gold prices. Metals One's shares are listed on the London Stock Exchange's AIM Market (MET1).

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