Ironveld Plc

("Ironveld" or the "Company")

Issue of Equity

Ironveld announces that it has issued and allotted 15,201,367 new ordinary shares in the Company ("Ordinary Shares") in order to settle fees due to certain contractors in South Africa. The average issue price of 0.2988p per Ordinary Share reflects the VWAP and South African Rand exchange rate applicable during the period that services were supplied, with no discount. Application will be made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on or around 9 June 2023. 

The new Ordinary Shares will rank pari passu with the existing shares of the Company. Following admission of the shares, the Company's issued share capital consists of 3,574,996,887 Ordinary Shares. Accordingly, the figure of 3,574,996,887 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

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NOTES TO EDITORS

Ironveld (IRON.LN) is the owner of Mining Rights over approximately 28 kilometres of outcropping Bushveld magnetite with a SAMREC compliant ore resource of some 56 million tons of ore grading 1,12% V2O5, 68,6% Fe2O3 and 14,7% TiO2.

In 2022 Ironveld agreed to acquire and refurbish a smelter facility in Rustenburg, South Africa, in which it can process its magnetite ore into the marketable products of high purity iron, titanium slag and vanadium slag. This transaction became unconditional in March 2023.

Ironveld is an AIM traded company. For further information on Ironveld please refer to www.ironveld.com.