1 September 2023

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation

Pathfinder Minerals Plc

("Pathfinder" or the "Company")

Proposed Bonus Shares Timetable

Further to the announcement on 16 August 2023 regarding, amongst other matters, the Company's proposed issue of Bonus Preference Shares, the board of directors of Pathfinder (the "Board") is pleased to announce the timetable associated with the Bonus Preference Shares.

In the event that the Claim is successful, a further announcement will be made by the Company detailing, amongst other matters, the timings of the distribution of the Bonus Preference Shares to those shareholders of Pathfinder as at the record date as well as the settlement date for the transfer of the Bonus Preference Shares to Pathfinder shareholders.

As reported in the Company's announcement dated 10 December 2021, the valuation ranges prepared by Versant Partners LLC ('Versant') reflects a minimum of US$110 million for an ex-ante damages award, through to a US$1,500 million for an ex-post damages award. Under the Share Purchase Agreement signed with AAG, Pathfinder is entitled to US$30 million or 25% of this damages award, whichever sum is the greater (the "Preference Amount"). However, in the event that no Preference Amount is received by the Company pursuant to the Claim, no amount shall be payable to the holders of the Bonus Preference Shares by the Company. There can be no guarantee that the Claim will be successful. 

Unless the counterparties specifically agree otherwise, a buyer of the Company's ordinary shares ahead of the ex date (being 4 September 2023) will assume the benefit to the Bonus Preference Shares, and the seller would need to pass the benefit to the buyer, even if the seller is the recorded owner at the record date.

Defined terms used but not defined in this announcement have the meanings set out in the Company's announcement dated 16 August 2023.

Notes:

(1)      All references to time in this announcement are to London (UK) time unless otherwise stated.

(2)      The times and dates given are indicative only, based on pathfinder's current expectations and may be subject to change. If any of the times or dates above change, Pathfinder will give notice of the change to the London Stock Exchange and to Pathfinder Shareholders by issuing an announcement through a Regulatory Information Service.

Enquiries:

Allenby Capital Limited (Nominated Adviser and Broker)

John Depasquale / Vivek Bhardwaj (Corporate Finance)

Stefano Aquilino / Joscelin Pinnington (Sales & Corporate Broking)

Tel. +44 (0)20 3328 5656

Vigo Consulting (Investor Relations)

Ben Simons / Kate Kilgallen

Tel. +44 (0)20 7390 0234

Email. [email protected]