THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN.

06 February 2026

Tungsten West Plc

 ("Tungsten West" or the "Company")

Result of Retail Offer

Tungsten West (AIM: TUN), the mining company focused on restarting production at the Hemerdon tungsten and tin mine in Devon in the UK announced on 5 February 2026 the launch of a fundraising comprising a Placing and Subscription in conjunction with a Retail Offer.

The Company is pleased to announce that the Retail Offer, which was substantially oversubscribed, successfully completed and closed at 5.45 p.m. on 5 February 2026 and that it has conditionally raised approximately £ 3 million in the Retail Offer through the issue of 16,666,666 new Ordinary Shares at the Issue Price of 18 pence per share.

Following the close of the Retail Offer, the Company has conditionally raised gross proceeds of approximately £44.37 million at the Issue Price via the Fundraising. The Company will therefore be required to issue and allot a total of 239,125,536 new Ordinary Shares to satisfy the Fundraising.

 The Retail Offer is conditional upon the fundraising resolutions being duly passed without amendment at the Company's General Meeting to be held on 26 February 2026 and Admission becoming effective at 8:00 am on 27 February 2026.

Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the launch announcement.

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for the 239,125,536  new Ordinary Shares to be admitted to trading on AIM. Admission is expected to take place and dealings in the Retail Offer Shares are expected to commence at 8.00 a.m. on 27 February 2026, at which time it is also expected that the Retail Offer Shares will be enabled for settlement in CREST.

Immediately following Admission, the issued ordinary share capital of the Company is expected to comprise 1,014,345,767  Ordinary Shares. Each Ordinary Share has one voting right and no Ordinary Shares are held in treasury. From Admission, this figure may be used by Shareholders as the denominator for the calculation 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.

Enquiries: 

Notes:

References to times in this Announcement are to London time unless otherwise stated.

The times and dates mentioned throughout this Announcement may be adjusted by the Company in which event the Company will make an appropriate announcement to a Regulatory Information Service giving details of any revised dates and the details of the new times and dates will be notified to London Stock Exchange plc (the "London Stock Exchange") and, where appropriate, Shareholders. Shareholders may not receive any further written communication.

IMPORTANT INFORMATION

This Announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This Announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

This Announcement and the information contained herein, is restricted and is not for publication, release or distribution, directly or indirectly, in whole or in part, in or into Australia, Canada, the Republic of South Africa, Japan or any other jurisdiction in which such publication, release or distribution would be unlawful.  Further, this Announcement is for information purposes only and is not an offer of securities in any jurisdiction.