Exercise of Option with EMX Update - Replacement

The following amendment has been made to the "Exercise of Option with EMX Update" announcement released on 4 November 2025 at 07:00 a.m. under RNS Number: 0137G.

The date of Admission for the Additional Consideration Shares will be 7 November 2025 and not 10 November 2025 as previously stated.  All other details remain the same.

Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.

4 November 2025

Mila Resources Plc

('Mila' or the 'Company')

Exercise of Option with EMX Update

Mila Resources Plc (LSE: MILA), the post-discovery gold exploration accelerator, is pleased to announce that it has now exercised the EMX Option Agreement ("EMX Option Agreement") with EMX Royalty Corp ("EMX") granting Mila the right to acquire exploration licences relating to three project areas in Queensland, Australia: Yarrol (EPM8402, EPM27561, EPM28230 and EPM28658), Mount Steadman (EPM12834 and EPM27750) and Mount Weary (EPM26317 and EPM27252) (collectively the "Exploration Portfolio").

As a result of the exercise of the EMX Option Agreement, The Company shall issue EMX with 7,096,774 new ordinary shares being £110,000 of new Mila ordinary shares ("Option Fee Shares") valued by reference to the volume weighted average price of the Company's listed shares during thirty consecutive trading days ending on 30 October 2025 ("30 Day VWAP") of 1.55 pence per share.

The Option Fee Shares will be issued and allotted  conditional on completion of legal transfer of title to the Exploration Portfolio, therefore, the Company shall apply for the admission of the Option Fee Shares to the Equity (Transition) category of the Official List and to trading on the main market of the London Stock Exchange ("Admission") in due course following the completion of all conditions.   

The Option Fee Shares issued to EMX are subject to a lock up for twelve months from the date of admission to trading.

Issue of Equity to EMX regarding Share Price

The Company has also issued EMX, conditional on Admission, 3,225,806 new ordinary shares ("Additional Consideration Shares") at an issue price of 1.55 pence due to EMX under the terms of the EMX Option Agreement because of Mila's share price exceeding 1.0p for more than 12 continuous trading days. Mila's share price has exceeded 1.0p since 25 September 2025.

The Additional Consideration Shares were issued at 1.55 pence, being the 30 Day VWAP.

Admission and Total Voting Rights

The 3,225,806 Additional Consideration Shares are expected to be admitted to the Equity (Transition) category of the Official List and to trading on the main market of the London Stock Exchange from 8.00 a.m. on 7 November 2025.

The Company hereby notifies the market, in accordance with the FCA's Disclosure Guidance and Transparency Rules, that on Admission, the Company's enlarged share capital will consist of 672,060,922 Ordinary Shares, each with one vote. The Company does not hold any Ordinary Shares in Treasury. On Admission, the total number of voting rights in the Company is expected to be 672,060,922 and 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 FCA's Disclosure Guidance and Transparency Rules.

Mark Stephenson, Executive Chairman, commented:

"Securing the Queensland licence package from EMX marks an important step for Mila.  We recently hired our own team at Yarrol and now that we are in control of the licence package we can more forward and determine our own strategy for exploration and development.

"Recent drilling results and those from our recent drilling that are awaiting assay have strengthened our conviction in the licence package and full ownership gives us the flexibility to accelerate work programmes and unlock value at pace. These projects have all the hallmarks of meaningful resource opportunities, and we are eager to demonstrate that potential with further drill results from Yarrol."

**ENDS**

For more information visit www.milaresources.com or contact: