Updates re Barbrook Business Rescue Plan

Metals One PLC

07 September 2026

 

7 September 2026

Metals One Plc

("Metals One" or the "Company")

Updates re Barbrook Business Rescue Plan

Update re court hearing in South Africa to set aside the Barbrook Business Rescue Practitioner

Metals One (AIM: MET1, OTCQB: MTOPF), a critical and precious metals project developer and investor with a focus on gold and uranium, provides the following update on the outcome of the 3 September 2026 court hearing regarding the application to remove the current Business Rescue Practitioner ("BRP") for the Barbrook Gold Mine in Mpumalanga Province, South Africa.

The application to have the BRP removed and another appointed was postponed until 7/8 January 2027, due to the intervention of two additional parties, being the Tribal Authority (the landowner) and Belvipoint (the security company) both of which oppose the removal and support the Lions Bay Resources ("Lions Bay") (Metals One: 30% with an option to acquire a further 19.99%) approved business rescue plan as announced by the Company on 16 April 2026 (the "Plan").

The application to have the Lions Bay Plan set aside will continue as scheduled, with the High Court hearing and arguments to be dealt with on 12 October 2026. Lions Bay remains confident in its legal position having now substantially implemented the Plan for the benefit of the community and past and future mine workers with a view to re-establishing full mining operations later this year.

Enquiries:

Metals One Plc Daniel Maling, Managing Director Craig Moulton, Chairman	[e-mail] [phone]
Spark Advisory Partners (Nominated Adviser) James Keeshan / Andrew Emmott	[phone]
Oak Securities (Joint Broker) Jerry Keen	[phone]
Capital Plus Partners Limited (Joint Broker) Jonathan Critchley	[phone]
Vigo Consulting (UK Investor Relations) Ben Simons / Fiona Hetherington	[e-mail] [phone]

Market Abuse Regulation (MAR) Disclosure

The information set out herein is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR').

About Metals One

Metals One is a critical and precious metals project developer and investor with a focus on gold and uranium. Our core interests include a South African gold and energy platform, a brownfield gold/copper exploration project in Northern Peru, uranium exploration and tailings reprocessing opportunities in the USA, a gold exploration project in the USA, and graphite/copper exploration in Tanzania.

Metals One's shares are listed on the London Stock Exchange's AIM Market (MET1) and on the OTCQB Venture Market in the United States (MTOPF).

Map of Metals One core projects/investments

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