Exercise of Warrants and Conversion of Loan Note

Cadence Minerals Plc

("Cadence Minerals", "Cadence" or "the Company")

Exercise of Warrants and Conversion of Loan Note

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY), announce that, it has received warrant exercise notices to subscribe for 361,111 new ordinary shares in the Company at an exercise price of 9 pence per share and 527,309 new ordinary shares in the Company at an exercise price of 11 pence per share (the "Warrant Shares") Subscription monies of £90,504 have been received by the Company in respect of the exercise of these warrants.

In addition and in relation to the to the US$ 3.9 million restructured loan note which was in part used to fund Cadence's US$2.5 million escrow for the Amapá Project and was announced on the 15 June 2019 and 1 August 2019, Cadence has received a conversion notice to convert US$0.37 million into 2,341,625 new ordinary shares ("Conversion Shares") in the Company at a fixed conversion price of 12 pence per share. After this conversion, the loan note has an outstanding balance of approximately US$ 1.03 million.

Application will be made for the admission to trading on AIM of London Stock Exchange plc and to and the AQSE Growth Market operated by Aquis Exchange Plc for the Warrant Shares and Conversion Shares ("Admission").

Admission is expected to occur on or around 19 November 2020. Upon Admission, the Company will have 147,949,098 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore  147,949,098 and Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

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This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.