Jubilee: Project G to mine of 240ktpa ore at 3% to 4% copper grade

Jubilee concluded an agreement to acquire a 51% interest in Project G. Project G is an established open-pit mining operation. Project G will be ramped up targeting to achieve a mine rate of 240 000 tonnes per annum at approximately 3% to 4% copper grade by Q4 CY2024.

Acquisition Two will be settled through the issue of approximately 21 135 527 new Jubilee ordinary shares (Shares) (assumed at the Issue Price). The final number of shares will be confirmed upon conclusion of Acquisition Two. Acquisition Two is subject to conditions precedent customary for transactions of this nature including conclusion of the requisite approvals from the Zambian authorities. Project G is poised to benefit from Jubilee’s expertise in sustainable mining practices and state-of-the-art processing technology.