Publication of Prospectus and Placing

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLYOR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

This announcement is an advertisement and not a prospectus. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Investors should not purchase any transferable securities referred to in this announcement except on the basis of information contained in the prospectus (the "Prospectus") in its final form that is published by Cobra Resources plc in connection with the admission of the Company's ordinary shares (the "Ordinary Shares") to listing on the standard segment of the Official List of the Financial Conduct Authority (the "FCA") and to trading on the main market for listed securities (the "Main Market") of London Stock Exchange plc (the "London Stock Exchange"). This announcement is not an offer to sell, or a solicitation of an offer to acquire, securities in the United States, Australia, Canada, Japan or in any other jurisdiction.

For immediate release

13 January 2020

Cobra Resources plc

("Cobra" or the "Company")

Prospectus Publication Announcement

The Company, which is an exploration, development and mining company announces an update on its reverse take-over of Lady Alice Mines Pty Ltd and the publication of its Prospectus in relation to the admission of 153,749,138 Ordinary Shares of 1 pence each to listing on the standard segment of the Official List of the FCA and to trading on the Main Market of the London Stock Exchange (together, the "Admission").

Admission

It is expected that Admission will become effective and that dealings will commence at 8.00 am on 16 January 2020.

The Prospectus will be available from the Company's registered office at Suite A, 6 Honduras Street, London EC1Y 0TH and online at www.cobraresources.co.uk (subject to applicable securities laws).

An electronic copy of the Prospectus will also be submitted to the National Storage Mechanism and should be available shortly for inspection at http://www.morningstar.co.uk/uk/NSM.

Cobra Resources plc is a company incorporated in England and Wales with company number 11170056. The Ordinary Shares are registered with ISIN GB00BGJWS255, SEDOL code BGJW525 and TIDM COBR.

Placing

Subject to Admission to the Official List and to trading on the London Stock Exchange, expected on 16 January 2020, the Company has raised gross proceeds of £613,300 at a price of £0.01 per share, through the issue of 61,330,000 Placing Shares.

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