Update - Exclusivity Agreement with Anglo American

9 July 2021

Arc Minerals Ltd

('Arc' or the 'Company')

Update on Exclusivity Agreement with Anglo American

Arc Minerals announces that the Exclusivity Agreement with Anglo American, signed on 13 July 2020, lapses from today. Discussions with Anglo American have been positive and continue. Against a backdrop of very strong copper fundamentals, the Company has been approached by a number of interested groups to commence discussions regarding a potential commercial transaction.

Nick von Schirnding stated: "As we have always said, any transaction has to sufficiently compensate Arc shareholders for allowing a major to take over an asset which we believe has significant potential to become a major tier-one copper discovery. We will continue our discussions with Anglo American which have been going well but will also commence discussions with other major mining companies that have approached us. In the meantime, we continue with our very exciting drill programme and development of the Cheyeza East plant, against the backdrop of a very strong copper market."

For more information visit www.arcminerals.com.

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

**ENDS**

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