17 March 2022

Technology Minerals Plc

Issue of Shares

Technology Minerals Plc (the "Company") (LSE: TM1), the first UK company focused on creating a sustainable circular economy for battery metals, announces that the Company has issued 5,991,659 new ordinary shares ("New Shares") in the Company as follows:-

(1)   1,333,333 ordinary shares to United Capital Investments London Limited ("UCI") in settlement of a payment due to UCI for work carried out by UCI for the Company's wholly-owned subsidiary, Onshore Energy Limited ("OEL");

(2)   2,222,222 ordinary shares to UCI in settlement of a payment due from the Company to PAI Capital Ltd ("PAI"); and

(3)   2,436,104 ordinary shares to Aurum Exploration Limited ("Aurum") in settlement of payment due to Aurum for work carried out by Aurum for the Company's wholly-owned subsidiary, LRH Limited.

By way of background:-

(1)   The Company's wholly owned subsidiary, OEL, owed UCI £30,000 for work carried out (the "UCI Debt"). On 2 March 2022, UCI agreed to accept 1,333,333 New Shares in the Company in lieu of payment of the UCI Debt with the number of shares to be issued to UCI calculated on the basis that the price of the Company's shares is the Admission Price, being £0.0225 per share.

(2)   On 2 March 2022, PAI agreed to accept 2,222,222 New Shares in the Company ("the PAI New Shares") in lieu of payment of a fee of £50,000 due to be paid to PAI by the Company with the number of shares to be issued to PAI calculated on the basis that the price of the Company's shares is the Admission Price, being £0.0225 per share. At PAI's request the Company has agreed to issue the PAI New Shares to UCI.

(3)   On 8 December 2021, Aurum agreed to accept 2,436,104 New Shares in the Company in lieu of payment to Aurum of €78,849.34 due to Aurum for exploration work done. Aurum and the Company have agreed that the number of shares is calculated on the basis that:-

(a)     The Euro to GBP exchange rate to be applied is the closing exchange rate applicable on 8 December 2021, being 1 Euro = 0.8589 GBP which equals £67,723.70; and

(b)      The price of the Company's shares to be applied is the average mid-market price on 8 December 2021, being £0.0278 per share.

Wilson Robb, a Director of the Company is also a director of Aurum.

Admission and Total Voting Rights

Application will be made for the 5,991,659 New Shares, which will rank pari passu in all respects with the existing ordinary shares of the Company, to be admitted to the Standard List segment of Official List and to trading on the main market of the London Stock Exchange plc, which is expected to occur on or around 8.00 a.m. on 24 March 2022 ("Admission"). Upon Admission, the total number of issued shares and the total number of voting rights in the Company will be 1,269,687,537.

The above figure of 1,269,687,537 should 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 Guidance and Transparency Rules.

The Directors of the Company accept responsibility for this announcement.

For further information please contact:

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