KORE POTASH PLC - Meeting with Minister of Mines

Meeting with Minister of Mines

Kore Potash plc
(Incorporated in England and Wales)
Registration number 10933682
ASX share code: KP2
AIM share code: KP2 JSE share code: KP2
ISIN: GB00BYP2QJ94

20 December 2022

                                           Kore Potash Plc


                                 Meeting with Minister of Mines

Kore Potash (AIM: KP2, ASX: KP2, JSE:KP2) (“Kore Potash” or “the Company”), the potash
development company with 97%-ownership of the Kola and DX potash projects in the Sintoukola
Basin, located in the Republic of Congo (“RoC”) provides an update on the development of the Kola
project.

On 19 October 2022, the Company announced receipt of correspondence from the RoC Minister of
Mines (“Minister”) expressing his discontent with aspects of the administration of the Company’s
subsidiary companies in the Congo (“Subsidiaries”) and his perception of slow progress by Kore and
the Summit Consortium towards the financing of the Kola Project.

The Company responded in writing to the Minister within the 30-day period requested by him.

Following receipt of the Minister’s letter, an internal review of the administration of the Subsidiaries
did not identify any material deficiencies in their administration.

The Company has additionally commissioned two separate independent reviews of the administration
of its Subsidiaries via a respected RoC legal services firm and the RoC office of an international legal
and financial services firm. These reviews are planned to be completed in January 2023.

On 17 December 2022, the Company met in person with the Minister, and the discussion included a
further update on the progress towards financing the Kola Potash Project.

At the end of the meeting, the Minister expressed his thanks for how the Company responded to his
most recent letter and assured the Company of his and the RoC Government’s ongoing support for
Kore Potash to develop its Kola Project.

The Minister reinforced the great importance of the Kola Project to the people of the Congo and
encouraged the Company to continue to keep him informed on its continued progress. He further
encouraged the Company to continue with its work to conclude the Engineering, Procurement and
Construction contract terms and financing arrangements to enable the commencement of the
construction of the Kola Project as soon as possible.

This announcement has been approved for release by the Board of Kore Potash.

Market Abuse Regulation

This announcement contains inside information for the purposes of Article 7 of the Market Abuse
Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under
Article 17 of MAR.
                                              ENDS


               For further information, please visit www.korepotash.com or contact:

  Kore Potash                                                  Tel: +27 84 603 6238
  Brad Sampson – CEO


  Tavistock Communications                                     Tel: +44 (0) 20 7920 3150
  Emily Moss
  Adam Baynes

  SP Angel Corporate Finance – Nomad and Broker                Tel: +44 (0) 20 7470 0470
  Ewan Leggat
  Charlie Bouverat

  Shore Capital – Joint Broker                                 Tel: +44 (0) 20 7408 4050
  Toby Gibbs
  James Thomas

  Questco Corporate Advisory - JSE Sponsor                     Tel: +27 (11) 011 9205
  Doné Hattingh

Date: 20-12-2022 11:30:00
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