SHUKA MINERALS PLC - Update on Financing for Kabwe Transaction

Update on 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 on financing for Kabwe transaction

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.

Further to the Company's announcement on 4 September 2025, Gathoni Muchai Investments Limited
("GMI") has informed the Company that remittance of the funds, pursuant to the increased loan entered
into on 30 June 2025, to be used to satisfy the $1.35m balance of cash consideration due to the LEM
vendors, has experienced a further slight delay, while they complete alternate means to expedite payment.
GMI have confirmed to the Company that they expect to resolve these matters prior to the end of
September 2025. GMI have further confirmed to the Company their financial capacity to meet their
obligations under the increased GMI loan facility.

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.
                                               ENDS
About Shuka Minerals
Shuka Minerals plc, is a dynamic and innovative mining and development company, committed to
exploring and harnessing Africa's mineral resources. Shuka's focus lies in the acquisition and development
of valuable minerals, aiming to contribute to the sustainable growth and development of local
communities.
Shuka has an operating coal mine in Tanzania, which capacity is under consideration for upgrading by
management depending on funding and strategic direction. Shuka is also considering projects in Zambia,
South Africa, and other African countries that are rich in copper, lead, and zinc.

The Company is listed on the Alternative Exchange ("AltX") in South Africa and admitted to trading on AIM
in the United Kingdom ("UK").

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 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
18 September 2025

SPONSOR
AcaciaCap Advisors Proprietary Limited

Date: 18-09-2025 08:00:00
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