Grant of Share Options

Cora Gold Limited

08 September 2026

 

Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining

8 September 2026

Cora Gold Limited
('Cora' or ‘the Company')

Grant of Share Options

Cora Gold Limited, the West African focused gold company, is pleased to announce the granting of share options.

Following the appointment of Russell White as a Non-Executive Director of the Company on 01 September 2026, in accordance with the Company's Share Option Scheme dated 18 December 2017, the Board granted and approved share options ('Options') over 1,000,000 ordinary shares, equivalent to 0.13% of the issued share capital of the Company, to Mr White. The exercise price of the Options is 10 pence (British pound sterling) per ordinary share, representing a premium of 4.82% to the average closing mid-market price of the ordinary shares on the 10 trading days prior to the date of grant. The Options expire on 07 September 2031. In addition, regarding vesting:

●     one quarter of the Options vest immediately;

●     one quarter of the Options vest on 07 March 2027;

●     one quarter of the Options vest on 07 September 2027; and

●     one quarter of the Options vest on 07 March 2028.

Following the grant of the Options, the total number of share options over ordinary shares is 65,700,000, equivalent to 8.58% of the current ordinary issued share capital of the Company.

Immediately post granting of the above Options the Company's issued and outstanding capital structure comprised:

●     765,296,805 ordinary shares;

●     warrants to subscribe for 32,382,100 ordinary shares in the capital of the Company at a price of 7 pence (British pound sterling) per ordinary share expiring on 01 April 2027;

●     share options over 5,050,000 ordinary shares in the capital of the Company exercisable at 10.5 pence (British pound sterling) per ordinary share expiring on 08 December 2026;

●     share options over 12,350,000 ordinary shares in the capital of the Company exercisable at 4 pence (British pound sterling) per ordinary share expiring on 13 March 2028;

●     share options over 19,150,000 ordinary shares in the capital of the Company exercisable at 6.25 pence (British pound sterling) per ordinary share expiring on 01 April 2030;

●     share options over 28,150,000 ordinary shares in the capital of the Company exercisable at 8 pence (British pound sterling) per ordinary share expiring on 31 March 2031; and

●     share options over 1,000,000 ordinary shares in the capital of the Company exercisable at 10 pence (British pound sterling) per ordinary share expiring on 07 September 2031.

**ENDS**

For further information, please visit http://www.coragold.com or contact:

Bert Monro Craig Banfield	Cora Gold Limited	[e-mail]
Derrick Lee Pearl Kellie	Cavendish Capital Markets Limited (Nomad and Broker)	[phone]
Matt Hasson Andrew Chubb	Hannam & Partners (Broker)	[phone]
Susie Geliher Charlotte Page	St Brides Partners (Financial PR)	[e-mail]

Notes

Cora is a West African gold developer with de-risked project areas within two known gold belts in Mali and Senegal. Led by a team with a proven track-record in making multi-million-ounce gold discoveries that have been developed into operating mines, Cora's primary focus is on developing the Sanankoro Gold Project in the Yanfolila Gold Belt in south Mali into an open pit oxide mine.

Sanankoro has a Probable Reserve of 531 koz at 1.13 g/t Au (US$2,200/oz Au pit shell design). The 2025 Definitive Feasibility Study showed that the Project has strong economic fundamentals, including 98% IRR post tax, US$365 million NPV8 post tax and all-in sustaining costs of US$1,623/oz based on a gold price of US$3,500/oz.

In April 2026, the Company secured a binding US$120 million gold stream which, together with existing equity, fully funds the development of Sanankoro through to production. Furthermore, Cora has the right to replace 50% of the stream with traditional senior debt until the later of (i) 30 October 2027 and (ii) 6-months after the date on which the mining permit is granted, therefore enabling optimisation of the financing structure. With funding in place, the Company is advancing the finalisation of the permitting process with the government of Mali to enable a swift transition into mine construction.

The Company continues to pursue additional value-enhancing opportunities across its broader portfolio, including the identification of large-scale gold mineralisation potential at the Madina Foulbé exploration permit, located within the Mako Gold Belt of the Kédougou-Kéniéba Inlier in eastern Senegal.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMR') AND PERSONS CLOSELY ASSOCIATED WITH THEM:

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Russell White
2.	Reason for the notification
a)	Position/status:	Non-Executive Director
b)	Initial notification/Amendment:	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Cora Gold Limited
b)	LEI:	213800TW2N9JJYCUDD71
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument: Identification code:	Share options over ordinary shares of no par value ISIN: VGG2423W1077
b)	Nature of the transaction:	Grant of share options
c)	Price(s) and volume(s):	Price(s)  Volume(s) 10 pence 1,000,000
d)	Aggregated information:  Aggregated volume:  Price:	Single transaction as in 4 c) above  Price(s)  Volume(s) 10 pence 1,000,000
e)	Date of the transaction:	07 September 2026
f)	Place of the transaction:	Outside of a trading venue

 

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