AVZ Minerals Limited (ASX: AVZ, OTC: AZZVF) (AVZ or Company) refers to recent media speculation and the purported shareholder communications from Fat Tail Holdings Pty Ltd (Fat Tail), (an entity associated with Peter Huljich which holds less than 0.14% of the Company's issued capital), seeking to solicit support from AVZ shareholders for the election of Peter Huljich (a former director of the Company), Michael Carrick and Ty Ludbrook to the Board of AVZ (together the Fat Tail Nominees).

This unsolicited shareholder correspondence has been sent directly to AVZ shareholders via post and has been released in the public domain via social media.

The Fat Tail Nominees are not endorsed by the AVZ board of directors (AVZ Board) and have made several inaccurate claims regarding the Directors and the Manono Lithium and Tin Project (Manono Project) located in the Democratic Republic of Congo (DRC). The AVZ Board is concerned by this targeted campaign against the Company,which it believes is not in the best interest of all shareholders, but instead, orchestrated to be in the interests of the Fat Tail Nominees or parties associated with them. AVZ wishes to correct and clarify certain inaccurate claims made by the Fat Tail Nominees in respect of the following matters: AVZ's relationship with key officials in the DRC Government and community stakeholders 2. Ownership of PR 13359 (the exploration permit that comprises the Manono Project) 3. Ownership of a 15% interest in Dathcom Mining SA (Dathcom) 4. Importance of the arbitration strategy 5. Lubumbashi High Court ruling 6. AVZ's corporate governance 1. AVZ's relationship with key officials in the DRC Government and community stakeholders The Fat Tail Nominees claim that ongoing disagreements between stakeholders in the DRC are the reason for stalling the development of the Manono Project.

The AVZ Board is concerned with these claims as it infers that the Company is to blame for the deteriorating relationships with key stakeholders and that AVZ has not been forthcoming in its communication with shareholders. AVZ is currently in negotiations with the DRC Government to advance a memorandum of understanding (MoU), which will provide a pathway to the granting of the Mining Licence for the Manono Project and the resolution of all arbitrations between AVZ and DRC controlled entities. Recent correspondence between AVZ and the DRC Government has been constructive and highlights the clearly positive and ongoing relationship between both parties. Importantly, and most recently, AVZ's Managing Director, Nigel Ferguson, sat with His Excellency President Tshisekedi, to discuss these matters.

AVZ is working tirelessly to progress such negotiations with Nigel Ferguson and AVZ's Commercial Manager & Joint Company Secretary, Ben Cohen, spending a combined 246 days on business related travel over the last 8 months with a majority of this time in the DRC to advance these negotiations. On several occasions, Mr Ferguson and Mr Cohen have been accompanied by Executive Director, Serge Ngandu and its legal counsel. AVZ understands that none of the Fat Tail Nominees have an existing relationship with the DRC Government, let alone having visited the country. AVZ's interests align with those of the DRC, with AVZ investing in the development of the Manono Project which would greatly benefit the Manono community and the people of the DRC. The DRC Government recognises this and is progressing the MOU discussions within a strict legal and regulatory framework, which understandably takes time. The claims by the Fat Tail Nominees are not supported by the AVZ Board. AVZ, represented by Nigel Ferguson and Ben Cohen, has a consistent and frequent presence in the DRC to advance the MoU discussions and is working vigorously for its shareholders.

Shareholders are encouraged to carefully consider the underlying motivations of any persons or companies that may purport to be acting in the best interests of shareholders ahead of voting at the AGM. The Company will release further information ahead of the AGM which should also be considered. In parallel to AVZ's efforts to correct the record and hold the Fat Tail Nominees to account, AVZ has commenced proceedings against Fat Tail to stop their attempt to access the private email addresses of AVZ's shareholders clearly for the purposes of influencing the outcomes of the AGM. The AVZ Board appreciates the support it continues to receive from its grassroot supporter base and remains committed to progressing the development of the Manono Lithium and Tin Project, for the advantage of all AVZ stakeholders and believes it has made considerable progress towards this.

Contact:

Tel: +61 8 6117 9397

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