Demirli copper concentrate sale & record ore mined

4 December 2025

Commencement of copper concentrate sales and record ore mined in the month at Demirli

Anglo Asian Mining PLC ("Anglo Asian" or the "Company"), the AIM-listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce it has commenced copper concentrate sales from its new Demirli mine.

As announced on 3 November 2025, the Company has contracted to sell copper concentrate produced at Demirli to Trafigura Pte Ltd ("Trafigura"). From 17 November 2025 to 30 November 2025, 2,055 wet tonnes of copper concentrate containing 351 tonnes of copper metal was sold to Trafigura, generating provisional gross sales revenue (before the Government of Azerbaijan's share) of $3.6 million.

A dedicated logistics centre for storage and delivery of concentrate has been established at Dalimammadli near Ganja, close to the main highway between Azerbaijan and Georgia. The logistics centre comprises 3,500 square metres of fully enclosed storage, and 1,500 square metres of roofed storage, both of which are contained within a seven-hectare fenced area. Company trucks transport the concentrate from the Demirli mine to the logistics centre. Trafigura trucks are therefore not required to obtain permission to enter Karabakh which currently has restricted access. The establishment of this logistics centre demonstrates the close relationship between Trafigura and the Company and facilitates very efficient and faster copper concentrate sales.

In line with its growth strategy to increase its production profile, in November 2025, the Company mined a record volume of ore at Demirli. Nearly two million tonnes of rock were mined as follows:

*mainly material from push back of the West Pit

On 27 November, a record 81,000 tonnes of rock was mined and hauled in one day.

Reza Vaziri, CEO of Anglo Asian, commented:

"We are continuing to make great progress at the Demirli mine, which was brought into production on time and on budget, and we have now completed our first copper concentrate sales to Trafigura. We continue to invest in this relationship, which is strategically important for Anglo Asian, by establishing our new logistics centre which will drive significant efficiencies.

"With Demirli delivering in accordance with our expectations, and in line with our strategy to grow production, we are also delighted to have recently achieved record daily and monthly quantities of ore mined at Demirli"

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, which was incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.

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About Anglo Asian Mining

Anglo Asian Mining plc (AIM:AAZ) is a copper and gold producer with a high-quality portfolio of production and exploration assets in Azerbaijan. The Company produced 377 tonnes of copper and 15,073 ounces of gold for the year ended 31 December 2024. In the nine months to 30 September 2025, the Company produced 3,475 tonnes of copper and 18,912 ounces of gold.

The Company's strategic plan for growth shows a clearly defined path for the Company to transition to a multi-asset, mid-tier, copper and gold producer by 2030, by which time copper will be the principal product of the Company, with forecast annual production of around 50,000 to 55,000 tonnes of copper. It plans to achieve this growth by bringing into production three new mines during the period 2027 to 2030 at Xarxar, Garadag and Zafar, in addition to the newly opened Gilar and Demirli mines. Production commenced at the Gilar mine in May 2025 and Demirli in July 2025. https://www.angloasianmining.com/