Central Asia Metals : Schedule One update - Central Asia Metals Plc

Central Asia Metals plc:

CAML is an AIM quoted copper producer which wholly owns the Kounrad operations in central Kazakhstan and has begun exploration of the 80 per cent. owned Shuak property in the Akmola region of northern Kazakhstan. CAML's senior management team has a proven track record of developing and commercialising mining opportunities, with over 100 years of combined mining experience. The team is supported by non-executive directors who, together, have extensive experience in the natural resources and financial sectors.

Lynx Resources Limited:

Lynx Resources Limited is a private company registered in Bermuda established by Fusion Capital and Orion in June 2015 for the purpose of acquiring the SASA zinc-lead mine in Macedonia from Solway Industries Ltd and Solway Industries EESTI AS. Lynx Resources Limited owns an effective 100 per cent. interest in the SASA Mine and currently has offices in Macedonia, Switzerland and Bermuda.

Main Countries of Operation for the Applicant: Kazakhstan and Macedonia

Admission is being sought as a result of a reverse takeover under AIM Rule 14

The Company announced a placing concurrently with the notification that an agreement had been reached to acquire Lynx Resources Limited. Shareholder approval was granted at an extraordinary meeting of the Company convened at 11:00 a.m. on 11 October 2017 and admission of the Placing Shares occurred on 12 October 2017.The Acquisition is conditional on inter alia, completion of the placing and certain regulatory approvals, including from the Macedonian Competition Commission.

The Company has received approval from the Macedonian Competition Commission and has submitted a request to draw down funds under the new debt facilities provided by Traxys and it is expected that the Company will receive such funds on 3 November 2017. Accordingly, completion of the Acquisition, issue of the Consideration Shares to Orion Co-Investments III L.P. and Admission of the enlarged group to trading on AIM is expected to occur on 6 November 2017.