SHUKA MINERALS PLC - 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


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 16 October 2025, Gathoni Muchai
Investments Limited ("GMI") has informed the Company that payments of funds, pursuant
to the increased loan agreement 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,
are proceeding this 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 2025, unless otherwise defined.


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

LONDON

27 October 2025

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

SPONSOR
AcaciaCap Advisors Proprietary Limited

Date: 27-10-2025 09:20:00

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