Horizonte Minerals Plc announces the following changes to its board of directors (the "Board") and senior leadership team. These changes have been made as the Company advances discussions for a financing solution for its Araguaia Nickel Project ("Araguaia" or "the Project") and the completion of construction of the Project. Jeremy Martin, Co-Founder and Chief Executive Officer of the Company ("CEO") will step down as CEO and as a member of the Company's Board alongside Simon Retter, Chief Financial Officer of the Company who will step down as CFO and as a member of the Company's Board.

In addition, in accordance with best practice corporate governance William Fisher, Non-Executive Interim Chair and Owen Bavinton, Non-Executive Director, will step down from the Company's Board having served as directors since 2011 and 2012 respectively. These director and officer changes are effective with all departing directors and officers agreeing to assist the Board with an orderly handover. Jeremy is a founding director of Horizonte and has led the business as CEO since 2010.

Under his leadership, Horizonte discovered, acquired and consolidated its interests in the Company's two tier-one nickel assets in Brazil. Jeremy oversaw the development of these assets and took Araguaia from a greenfield project through the feasibility stage and onto construction. The Board is appreciative of his significant contribution to the Company.

The Company announced the following proposed appointments (subject to receipt of the usual director certifications where applicable in accordance with the AIM Rules) with further proposed Board directors expected to be announced in the coming weeks. The Board announced the appointment of Karim Nasr as interim CEO and his proposed appointment as a Board director. Mr. Nasr will lead the financing and restructuring process and will work with the Board to appoint a new senior leadership team.

Mr. Nasr is Managing Partner and Co-Chief Investment Officer of La Mancha Resource Capital LLP ("La Mancha"), which advises La Mancha Resource Fund SCSp, one of the Company's major shareholders. Mr. Nasr has over 25 years of experience in corporate finance and investments, including experience of restructurings in Brazil. Mr. Nasr will step down from his day-to-day executive role within La Mancha to devote himself to Horizonte and put in place a financing plan to restart construction.

Mr. Smith is a corporate finance professional and senior board member with extensive experience in driving performance at natural resource focused companies. Upon his appointment taking effect, Mr. Smith will act as the Chair of the Board. Pending such appointment taking effect, Non-Executive Director, Vincent Benoit has agreed to act as interim Chair.

The Company announced the appointment of Maryse Bélanger as interim COO in a non-board capacity. Ms. Bélanger was recently Chair of IAMGOLD Corporation. Ms. Bélanger has been a consultant to the Company in recent months.

Ms. Bélanger has more than 30 years of experience in the global mining sector with proven strengths in operational excellence and turnaround, technical services and organizational efficiency, including in Brazil. The proposed new Board appointments of Karim Nasr and Paul Smith are subject to the standard AIM director due diligence procedure. Once completed, these appointments will become effective with a further announcement to be released in due course.

Mr. Nasr will act as interim CEO in a non-board capacity with immediate effect.