PYX Resources Limited / EPIC: PYX / Market: Standard / Sector: Mining

4 October 2023

PYX Resources Limited

Issue of Shares to GEM Global Yield LLC SCS and Total Voting Rights

PYX Resources Ltd ("PYX" or the "Company") (NSX: PYX | LSE: PYX), the third largest publicly listed zircon producing mining company globally by zircon resources[1], advises that an Application for Quotation of Additional Securities has been issued on the NSX.

On 3 October 2022, PYX announced a GBP20 million investment commitment through a Subscription Agreement with GEM Global Yield LLC SCS ("GGY"), a US$3.4 billion alternative investment firm with offices in Paris, New York, and the Bahamas.

Under the Subscription Agreement, PYX controls the amount and timing of investment over a 36-month period with no minimum subscription obligation. A fee of GBP400,000 is also payable to GGY in cash or shares within a period of 12 months from the date of execution of the Subscription Agreement.

As such, the Company has issued and allotted 1,786,512 ordinary shares of no-par value to GGY. The price of the shares in connection with the issue has been calculated at the average Closing Bid Price over the 15 trading days prior to the share issuance date, as per the Subscription Agreement.

A full PDF version of the NSX Application for Quotation of Additional Securities is available from the Company's website (https://pyxresources.com/investors-nsx-announcements/)

Application will also be made for the New Ordinary Shares to be admitted to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange, and admission is expected to occur at 8:00 a.m. on or around 10 October 2023. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.

Following Admission, the Company's issued share capital will consist of 456,834,764 Ordinary Shares, no Ordinary Shares are held in treasury. Therefore, the total number of Ordinary Shares with voting rights in the Company will be 456,834,764,

The above figure of 456,834,764  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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

** ENDS ***

This announcement is authorised for release by Oliver B. Hasler, Chairman and Chief Executive Officer.

For more information:

About PYX Resources

PYX Resources Limited (NSX: PYX | LSE: PYX) is a producer of premium zircon dual listed on the National Stock Exchange of Australia and on the Main Market of the London Stock Exchange. PYX's key deposits, Mandiri and Tisma, are large-scale, near-surface open pit deposits both located in the alluvium-rich region of Central Kalimantan, Indonesia. PYX, whose Mandiri deposit has been in production since 2015, is the 3^rd largest publicly traded producing mineral sands company by zircon resources globally. Determined to mine responsibly and invest in the wider communities where we operate, PYX is committed to fully developing its Mandiri and Tisma deposits, with the vision to consolidate the mineral sands resources in Kalimantan and explore and acquire mineral sands assets in Asia and beyond.