Monday 31st August, 2026

Zamare Minerals Limited (“Zamare’ or “the Company”) is pleased to announce that it has completed an equity financing for US$6.6 million. The offer was well received and oversubscribed.

The funds were raised at a share price of 5p/share giving a fully diluted pre-money valuation of US$19.6mn based on the 265.9mn ordinary shares and 25.0mn options and warrants outstanding at the start of the capital raise process. The funds were raised from existing shareholders and new shareholders following a roadshow in Toronto, Canada. The new shareholders consist of funds, family offices, brokers and high net worth individuals.

Bayline Capital Partners, a Toronto-based boutique capital advisory firm, assisted Zamare in the capital raise.

As set out in the previous announcement of the capital raise to shareholders the use of proceeds include;

• Fund the work needed to achieve a public listing (including a Competent Persons Report; Audited Accounts accepted on the TSX; securing a shell for an RTO and legal work);
• Funding of the exploration programs for 2026/27
• Final tranche of payment for the acquisition of the Kikana and Mulenga licences;
• General corporate purposes.

An update on the listing process and our work program in Zambia will be sent out in the next few days.