Payment of 2020 Special Dividend

Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining

22 February 2021

Anglo Asian Mining plc

Payment of 2020 Special Dividend

On 26 January 2021, the Directors of Anglo Asian Mining plc ("Anglo Asian", the "Company" or the "Group") announced a special dividend in respect of the year ending 31 December 2020 of US 1.5 cents per ordinary share. This special dividend is to be paid on 11 March 2021 to shareholders on the share register on 12 February 2021. The dividend is payable in cash in sterling to holders of ordinary shares. A scrip dividend or any other dividend reinvestment plan will not be offered by Anglo Asian Mining plc.

The dividend will be converted to pounds sterling using the average of the sterling closing mid-price using the exchange rate published by the Bank of England at 16:00 GMT each day from the 15 to 19 February 2021, being £1 = US$1.3932. Accordingly, the amount of sterling dividend payable in cash on 11 March 2021 will be:

1.0767 pence per ordinary share.

**ENDS**

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Notes:

Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver producer in Central Asia with a broad portfolio of production and exploration assets in Azerbaijan. The Company has a 1,962 square kilometre portfolio at its active Gedabek, Gosha and Ordubad contract areas assembled from analysis of historic Soviet geological data and held under a Production Sharing Agreement ("PSA") modelled on the Azeri oil industry. The Company also has three recently restored contract areas in the formerly Occupied Territories and Nagorno Karabakh under its PSA which will be evaluated as soon as access permission is received from the Government of Azerbaijan.

The Company's main operating location is the Gedabek contract area ("Gedabek") which is a 300 square kilometre area in the Lesser Caucasus mountains in western Azerbaijan. The Company developed Azerbaijan's first operating gold/copper/silver mine at Gedabek which commenced gold production in May 2009.  Mining at Gedabek was initially from its main open pit which is an open cast mine with a series of interconnected pits. The Company also operates the high grade Gadir underground mine which is co-located at the Gedabek site. The Company has a second underground mine, Gosha, which is 50 kilometres from Gedabek. Ore mined at Gosha is processed at Anglo Asian's Gedabek plant.

The Company produced 67,249 gold equivalent ounces ("GEOs") for the year ended 31 December 2020.  Gedabek is a polymetallic ore deposit that has gold together with significant concentrations of copper in the main open pit mine, and an oxide gold-rich zone at Ugur. The Company therefore employs a series of flexible processing routes to optimise metal recoveries and efficiencies.  The Company produces gold doré through agitation and heap leaching operations, copper concentrate from its Sulphidisation, Acidification, Recycling, and Thickening (SART) plant and also a copper and precious metal concentrate from its flotation plant.

Anglo Asian is also actively seeking to exploit its first mover advantage in Azerbaijan to identify additional projects, as well as looking for properties in other jurisdictions in order to fulfil its expansion ambitions and become a mid-tier gold and copper metal production company. It has announced that it is negotiating a joint venture with Conroy Gold and Natural resources PLC to explore and develop various gold properties in The Republic of Ireland and Northern Ireland.