Tranche Update on Arc Minerals Limited's Equity Buyback Plan announced on March 26, 2024.

Arc Minerals Limited is an exploration and mine development company. The Company is focused on the discovery and development of large-scale copper and copper cobalt deposits in the Western part of the Zambian Copperbelt. In the North-Western province of Zambia, the Company’s licenses are located in the Domes region of the Zambian Copperbelt near mines such as First Quantum Mineral’s Sentinel and Kansanshi copper mines and Barrick’s Lumwana mine. The license areas are located approximately 900 kilometers (km) from Lusaka, in Mwinilunga, Northwestern Province, and is well within the trending arm of the major geological structure known as the Lufilian Arc (Copperbelt), on the western flank of the Kabompo Dome. The Company has a 75% interest in Alvis-Crest (Proprietary) Limited, the holder of two prospecting licenses (PL 135/2017 and PL 162/2017) in Botswana's Kalahari Copper Belt (KCB), called the Virgo Project/Licenses. The Virgo project covers an area of over 210 square kilometers.