Halo Minerals: Mining Easement, FID Update & Issue of Shares

HALO MINERALS PLC

("Halo Minerals", the "Company" and, together with its subsidiaries, the “Group”)

Grant of Provisional Mining Easement, FID Update & Issue of Shares

Halo Minerals plc (AIM: HALO), the copper development company focused on recovering critical minerals from legacy mining waste, is pleased to announce that its wholly owned subsidiary, Minera Playa Verde SpA ("MPV"), has been granted a provisional mining easement (servidumbre provisoria) for the Playa Verde Copper Tailings Project (the “Project”).

Mining Easement

The provisional mining easement was granted by the 2nd Civil Court of Copiapó on 6 November 2026 pursuant to Article 125 of the Chilean Mining Code, which allows the court to authorise the use of a requested mining easement while the proceedings to constitute it are pending. It provides rights of occupation and transit over approximately 268,166 square metres (26.8 hectares) of Chilean State-owned land in favour of the mining concessions forming the onshore section of the Playa Verde project area.

The easement covers the Verde 1-87 and C1 to C7 exploitation concessions and represents an important step towards securing the land access rights required for the development of the Project. Once the ruling becomes final, it will be registered with the relevant Real Estate Registrar together with the associated entries. The Directors expect the easement to enable MPV to finalise and submit the remaining sectorial permit applications for the Project. Processing times are determined by the relevant authorities, and the Company will keep the market updated on progress.

Update on pathway to FID

The Company remains focused on arranging an appropriate capital structure to fund the development of the Project and support a Final Investment Decision ("FID"). The Company's funding strategy continues to target a financing package aligned with the Project's economic profile, as set out in the recently completed Competent Person's Report which the Company announced the highlights of on 16 October 2026.

A significant number of potential funding parties are under non-disclosure agreement and have been granted access to the Company's virtual data room, which contains extensive technical, processing, permitting and economic information relating to the Project. The Company is currently advancing discussions with a number of these parties regarding potential funding structures for the Project.

The Company also remains in active discussions with established metals traders regarding potential letters of intent and/or heads of terms covering off-take and/or marketing arrangements for the Project's anticipated copper cathode and copper-gold concentrate production.

Whilst these discussions remain ongoing, there can be no certainty at this stage that these discussions will result in a funding arrangement or any binding off-take or marketing agreement. Further announcements will be made as appropriate.

Issue of Shares & Total Voting Rights

The Company has issued and allotted 222,222 new ordinary shares (the “Consultant Shares”) at an issue price of 18 pence per new ordinary share (being equal to the AIM IPO fundraising price) to a consultant in respect of a contract for services with a contract value of £40,000. The Consultant has confirmed to the Company that it will not dispose of the Consultant Shares for a period of at least six (6) months from Admission. An application will be made for the Consultant Shares to be admitted to trading on AIM ("Admission"). Admission is expected to become effective and dealings in the Consultant Shares to commence at 8.00 a.m. on or around 13 November 2026. The Consultant Shares will rank pari passu in all respects with the Company's existing ordinary shares.

Following Admission, the Company's issued share capital will comprise 110,966,968 ordinary shares. The Company does not hold any ordinary shares in treasury. Accordingly, the total number of voting rights in the Company following Admission will be 110,966,968. This figure 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.

Andrew Dennan, Chief Executive Officer of Halo Minerals plc, commented:

"The granting of the mining easement is another important step in de-risking Playa Verde and progressing the Project towards development.

We are also very encouraged by the level of engagement that we have been seeing across the financing process, with a number of potential funding partners accessing our virtual data room, alongside active discussions with established metals traders on potential off-take and marketing arrangements. This is a further testament to quality and upside that we believe is inherent at our Playa Verde project.

With permitting, financing and commercial work-streams all advancing, our priority is to maintain this momentum towards FID and ultimately construction.”

This announcement contains inside information for the purposes of article 7 of the UK Market Abuse Regulation. The Directors of the Company are responsible for the release of this announcement.

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