Monday 20th July, 2026

Zamare Minerals is pleased to provide further details on the previously announced capital raise. As with all previous financings Zamare invites all shareholders to participate.

Zamare is seeking to raise US$6.6mn at a 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. Zamare has already received US$4mn from some existing shareholders at this price.

Zamare recently completed its first ever marketing program to Canadian investors through a roadshow in Toronto, meeting with 11 investors/brokers. This marketing should be seen as the first step towards a listing in Canada, probably on the Venture Exchange of the Toronto Stock Exchange (TSX). Zamare is targeting a listing within the next six to nine months.


Zamare has over US$2mn of indicative orders resulting from this Canadian marketing with further meetings planned for this week.

The use of proceeds is as follows:

• Final tranche of payment for the acquisition of the Kikana and Mulenga licences;
• Funding of the exploration programs detailed in the Corporate Update of 8th July 2026;
• Fund the work needed to achieve a public listing (including Audited Accounts accepted on the TSX; Canadian legal work and a Competent Persons Report);
• General corporate purposes.