Update re Karaberd Mine Acquisition

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO. 596/2014 OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (THE “MARKET ABUSE REGULATION”). UPON THE PUBLICATION OF THIS ANNOUNCEMENT THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

IMC EXPLORATION GROUP PLC

(“IMC”)

Proposed Acquisition of Karaberd Mine – Third Extension to 14^th October 2023 of Time for Satisfaction of Conditions

IMC announces that it has agreed with Mineral Ventures Invest spol. s r.o. that the final date by which the conditions of the intended acquisition of the Karaberd Mine in Armenia (the “Acquisition”), announced on 15^th April 2021, must be fulfilled has been extended until 14^th October 2023.

Extensions to the fulfilment date owing to local, COVID-19 pandemic-related factors were earlier announced on 23^rd December 2021 and 27^th June 2022. Consequent upon the earlier delays, certain structuring and organisational measures relating to the assets the subject of the Acquisition were also delayed beyond the parties’ expectations and control, necessitating a further extension. As and when necessary, the Directors of IMC shall continue to update shareholders and the market on the progress of the proposed transaction.

Eamon P. O’Brien,

Executive Chairman,

12^th January 2023

Enquiries:

Keith, Bayley, Rogers & Co. Limited

Graham Atthill-Beck: [phone]; [e-mail]; [e-mail]

Brinsley Holman: [phone]; [e-mail]

IMC Exploration Group plc

[phone]