Amapá Project Update

The company deems the information contained within this announcement to constitute Inside Information as stipulated under the Market Abuse Regulation (E.U.) No. 596/2014, as it forms part of U.K. domestic law under the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a regulatory information service, this information is considered to be in the public domain.

Cadence Minerals Plc

("Cadence Minerals", "Cadence", or "the Company")

Amapá Project Update and Technical Visit Relating to the Amapá Iron Ore Project

Cadence Minerals Plc ("Cadence" or the "Company") confirms that, together with its joint-venture partner DEV ("PBA"), it is hosting a technical visit by Wandenberg Pitaluga Filho, President of the Economic Development Agency of Amapá, Brazil.

The visit provides an opportunity to outline the development pathway for the 5.5 Mtpa integrated DR-grade iron ore operation, including the associated rail and port upgrades. Meetings will be introductory and non-binding and are intended only to support the State's understanding of the Project's long-term scale and capital formation framework.

Azteca Licensing Update

Following the completion of the prepayment offtake financing earlier this month, Cadence and PBA have advanced the technical workstreams required for the environmental licensing of the Azteca (Dyke 3) plant.

The Azteca facility represents the first stage of the Amapá redevelopment strategy, providing early production capability and a platform to generate cash flow to fund the Definitive Feasibility Study ("DFS") and other capital projects and subsequent phases of the project. The Company will update the market as material milestones are achieved.

Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.

Cautionary and Forward-Looking Statements

Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified by their use of terms and phrases such as "believe", "could", "should", "envisage", "estimate", "intend", "may", "plan", "will", or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the company's future growth results of operations performance, future capital, and other expenditures (including the amount, nature, and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.  Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes actions by governmental authorities, the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The company cannot assure investors that actual results will be consistent with such forward-looking statements.