Further re Subscription

Shuka Minerals Plc

("Shuka" or the "Company")

3 September 2026

Further re Subscription

Shuka Minerals Plc (AIM/AltX: SKA), an African focused mine operator and developer, announces that further to the announcement on 22 July 2026 regarding the £750,000 subscription by Menel Energy and Resources Limited ("Menel"), the Company confirms that the second tranche of £375,000 has been received.

As announced on 22 July 2026, following completion of the subscription, the Company has also issued Menel warrants to subscribe for up to a further 18,750,000 new ordinary shares of £0.01 each at an exercise price of 8 pence per share, exercisable until 8 July 2029.

Admission and total voting rights

Application will be made to the London Stock Exchange for the second tranche of 9,375,000 new ordinary shares ("Subscription Shares") to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the Subscription Shares will commence at 8.00 a.m. on or around 9 September 2026. The Subscription Shares will rank pari passu in all respects with the Company's existing ordinary shares.

Following Admission, the Company's total issued share capital will comprise 173,048,474 ordinary shares, each carrying one voting right. The Company does not hold any ordinary shares in treasury.

Accordingly, the figure of 173,048,474 may be used by shareholders as the denominator for the calculations by which they determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The Directors of Shuka are responsible for the contents of this announcement.

ENDS

Shuka Minerals plc has its primary listing on the London Stock Exchange ("AIM") and a secondary listing on the AltX of the JSE Limited.

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Caution:

Certain statements in this announcement are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should", ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.