Exercise of Share Warrants

Alba Mineral Resources plc

(the "Company" or "Alba")

Exercise of Share Warrants

Alba Mineral Resources plc (AIM: ALBA) announces that it has received a notice to exercise share warrants for 1,000,000 shares with an exercise price of 0.32p per share, for total proceeds to the Company of £3,200.

Admission to AIM

Application will be made for the new ordinary shares which are to be issued in respect of this exercise of share warrants to be admitted to trading on AIM ("Admission"). It is expected that Admission of the new ordinary shares will become effective at 8.00 a.m. on or around 24 December 2020. The new ordinary shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after Admission and will otherwise rank on Admission pari passu in all respects with the existing ordinary shares.

Total Voting Rights

Following Admission, the total number of ordinary shares in issue will be 6,199,078,989. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares with voting rights will be 6,199,078,989. This figure may be used by shareholders in the Company 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 share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

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

For further information please contact:

Alba's Project and Investment Portfolio