SHUKA MINERALS PLC - Update of Financing for Kabwe Transaction

Update of Financing for Kabwe Transaction

SHUKA MINERALS PLC
(formerly Edenville Energy PLC)
(Incorporated in England and Wales)
(Registration number 05292528)
("Shuka Minerals" or "the Company")
ISIN Code: GB00BN47NP32
AIM Share Code: SKA         JSE Share Code: SKA

Update of financing for Kabwe transaction

Further to its announcement on 30 September 2025, Shuka Minerals Plc (AIM/AltX: SKA), an African
focused mine operator and developer, provides an update on the financing for the Company's proposed
acquisition ("Acquisition") of the Zambian mining and exploration company, Leopard Exploration and
Mining Limited ("LEM") and the Kabwe Zinc Mine ("Kabwe Mine") located in central Zambia.

Gathoni Muchai Investments Limited ("GMI") informed the Company that remittance of funds, pursuant
to the increased loan entered into on 30 June 2025 and to be used by the Company to satisfy the $1.35m
balance of cash consideration due to the LEM vendors, has been further delayed while GMI completes the
alternate means to expedite payment to the Company. However, GMI has informed the Company that
payment is now in process. The Company currently expects that the funds will be cleared into the
Company's bank account next week.

The LEM vendors remain supportive of progressing to completion of the Acquisition, which will occur
following payment to the LEM vendors of the balance of cash consideration and issue of the consideration
shares and further warrants (as detailed in the Company's announcement on 1 July 2025 announcement),
and the transfer of LEM shares to the Company.

 The Company remains committed to finalising the LEM transaction utilising the non-dilutive and
favourable terms available under the GMI facility.

A further announcement will be made in due course.


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.

Capitalised terms in this announcement have the same meaning as in the Company's announcement 4
September and 18 September 2025, unless otherwise defined.
For Enquiries:

Shuka Minerals Plc                               +44 (0) 7990 503007

Richard Lloyd - CEO

Strand Hanson Limited                            +44 (0) 20 7409 3494

Financial and Nominated Adviser

James Harris | Richard Johnson

AcaciaCap Advisors Propriety Limited             +27 (11) 480 8500

JSE Sponsor and Listing Advisor

Michelle Krastanov

Tavira Securities Limited                        +44 (0) 20 7100 5100

Joint Broker

Oliver Stansfield | Jonathan Evans

Peterhouse Capital Limited

Joint Broker                                     +44 (0)20 7469 0930

Charles Goodfellow | Duncan Vasey

Investor Relations

Faith Kinyanjui Mumbi                            +254 746 849 110

By Order of the Board
16 October 2025

SPONSOR

AcaciaCap Advisors Proprietary Limited

Date: 16-10-2025 08:15:00
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