News alert from Anglo Asian Mining PLC

Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining

20 December 2022

Anglo Asian Mining PLC

Illegal Mining of Mineral Resources in Karabakh

Representations to United Nations, US State Department, UK Foreign Office and EU

Anglo Asian Mining PLC ("Anglo Asian" or the "Company") has written to senior representatives from a number of international organisations and governments, including the United Nations, the US State Department, the UK Foreign Office and the European Union about Anglo Asian's business and mining rights to properties currently being exploited by others. The Company is requesting support from these authorities for the restoration of its legitimate business rights and the safe physical access for Anglo Asian's employees to the Kyzlbulag and Demirli mines and surrounding exploration territory in Karabakh.  

Previously in 2006, Anglo Asian sent similar letters of confirmation to each of these government bodies to formally confirm its priority of ownership.

In addition to its principal assets in Azerbaijan, Anglo Asian Mining PLC also has legal title to two contract areas in Karabakh, which host the Kyzlbulag copper-gold mine and the Demirli copper-molybdenum mine. These contract areas are within the region controlled by the Russian peacekeeping force, but the Company believes illegal mining by Armenian companies has been and continues to be conducted in these concession areas.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, which was incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.

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Notes to Editors:

Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver producer in Central Asia with a broad portfolio of production and exploration assets in Azerbaijan. The Company produced 64,610 gold equivalent ounces ("GEOs") for the year ended 31 December 2021.  

In December 2021, the Company undertook a private placement which acquired 19.8 per cent. of Libero Copper & Gold Corporation ("Libero"). Libero is listed on the TSX Venture Exchange in Canada and owns, or has the option to acquire, several copper exploration properties in North and South America, including Mocoa in Colombia, one of the world's largest undeveloped copper-molybdenum resources.    

On 5 July 2022, the Parliament of Azerbaijan ratified amendments to the Company's Production Sharing Agreement, which granted it legal title to three additional concessions with a combined area of 882 square kilometres, including the Garadagh porphyry copper deposit, with a Soviet classified resource of over 300,000 tonnes of copper.

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