Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining

Kodal Minerals plc

('Kodal Minerals', 'Kodal' or the 'Company')

Exercise of warrants and change to total voting rights

Kodal Minerals, the mineral exploration and development company focused on the Bougouni Lithium Project and its gold assets in West Africa, announces that is has received notices of exercise for warrants ("Warrants") to subscribe for a total of 80,355,664 new ordinary shares of 0.03125 pence each with one voting right per share ("New Ordinary Shares").

48,790,008 Warrants were issued in July 2020 with an exercise price of 0.061 pence per share and 31,565,656 Warrants were issued in October 2020 with an exercise price of 0.09 pence per share.  The Warrants were issued pursuant to the loan agreement that was announced on 15 July 2020.

Application has been made for the 80,355,664 New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or around 21 May 2021.

Upon Admission, the issued share capital of the Company will consist of ordinary Shares of 0.01325p each. The Company holds no shares in treasury. The total number of voting rights in the Company from Admission will therefore be 15,812,719,175. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in or a change to their interest in the Company under the Disclosure Guidance and Transparency Rules of the UK Financial Conduct Authority.

For further information, please visit www.kodalminerals.com or contact the following: