Aminex PLC announced Tanzania Operations Update. Ruvuma: In this important year for Aminex, on the Ruvuma PSA in Tanzania, with the seismic acquisition programme and the drilling of the Chikumbi-1 ("CH-1") well, the Company can advise that operational activities continue to progress under the direction of the operator, ARA Petroleum Tanzania Limited ("APT"). Whilst seismic operations continue, APT has further advanced the well planning for the CH-1 well with all long lead items contracts now executed.

APT reports a target spud date for the CH-1 well in November 2022. Aminex, with a 25% non-operated carried interest, is carried throughout the ongoing work programme to a maximum gross capital expenditure of $140 million ($35 million net to Aminex) and is expected to see the Company through to the commencement of commercial gas production from the Ntorya gas-field, scheduled for the end of 2024, at zero cost to the Company. Kiliwani North: Aminex considers that any future drilling on the Kiliwani North Development Licence ("KNDL") is contingent upon an improved seismic resolution of the prospective target structures.

The Company has reached an agreement with Pan African Energy Tanzania ("PAET") to utilise their high-resolution 3D seismic campaign, targeting a mid-year start, to receive approximately 12.5km² of valuable new high-resolution 3D coverage over KNDL, at no cost to the Kiliwani North joint venture. PAET will be acquiring high-resolution 3D seismic over the adjacent producing Songo Songo field, and the Kiliwani North joint venture will allow PAET to partially overlap the KNDL area to enable full-fold processing of the new 3D dataset up to the Songo Songo and KNDL boundary. This coverage, which represents over 40% of the critical area of the licence, will enable Aminex to link the new high-resolution 3D data to its existing 2D seismic legacy data which currently covers the KNDL with an irregular seismic grid.

This should significantly improve both fault resolution and reservoir horizon mapping; both considered to be essential to understand the compartmentalised nature of the reservoir. Nyuni Area: More than two years have passed since Aminex first notified the Ministry of Energy to move into the Second Exploration Period ("SEP") of the Nyuni Area PSA. Despite a number of exchanges with the Tanzanian authorities, the terms for entry into the SEP have not been agreed.

Throughout, Aminex has sought an industry partner to progress a work programme on Nyuni with no success. Accordingly, the Company has opened discussions with the Tanzanian authorities regarding the return of the licence to the Ministry of Energy.