Clarification on BMR and the Kabwe Project Jubilee Metals Group PLC Registration number (4459850) AltX share code: JBL AIM share code: JLP ISIN: GB0031852162 ("Jubilee" or "the Company") Clarification on BMR Group PLC and the Kabwe Project Project Highlights - Kabwe Project remains on track - Jubilee to provide funding to continue construction of the Zinc Recovery circuit - Kabwe Project implementation unaffected by BMR’s delisting - Jubilee holds the right to fund the Kabwe Project through a dilution of BMR’s interest in the project Leon Coetzer, Chief Executive Officer, says: “The cancellation of admission to trading on AIM of BMR Group PLC (“BMR”) does not impact the execution of the Kabwe Project. Jubilee is already appointed as the project manager and sole operator of the project, tasked with implementing the Kabwe Project. The provisions contained in the executed shareholders’ agreement of Kabwe Operations, the company appointed with the sole right to execute and fund the Kabwe Project, affords Jubilee the right to continue funding the project to completion. Such funding shall account towards the dilution of BMR’s interest in the Kabwe Project. The existing agreements also ensure that the success of the project remains independent of the financial position of BMR. BMR and Jubilee have entered into discussions under which Jubilee has offered to fully fund the completion of the Kabwe Project against an immediate fixed dilution of BMR’s interest in the project. I look forward to continuing these discussions with BMR. As previously discussed, the enhanced flowsheet allows us to implement the zinc recovery circuit independently of the lead recovery circuit. I am confident that the team will conclude the enhanced circuit design and project financial parameters by the end of Q3 2018.” This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014. United Kingdom 3 August 2018 Contacts Jubilee Metals Group PLC Colin Bird/Leon Coetzer Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913 Nominated Adviser SPARK Advisory Partners Limited Mark Brady/Andrew Emmott Tel: +44 (0) 203 368 3555 Broker Shard Capital Partners LLP Damon Heath/Erik Woolgar Tel +44 (0) 20 7 186 9900 JSE Sponsor Sasfin Capital (a member of the Sasfin group) Sharon Owens Tel +27 (0) 11 809 7500 Date: 03/08/2018 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.