4 October 2023

Anglo Asian Mining plc

Meeting with residents of Soyudlu village

Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer focused on Azerbaijan announces that the management of Azerbaijan International Mining Company ("AIMC"), the Company's operating subsidiary in Azerbaijan, met with the residents of Soyudlu village for a public debate on 28 September 2023.

The meeting was attended by members of the commission created under the auspices of the Prime Minister of Azerbaijan (the "Commission"), AIMC management and local residents to discuss the environmental investigation at Soyudlu village. An overview of the meeting is as follows:

·  Mr Mukhtar Babayev, Minister of Ecology and Natural Resources and Chairman of the Commission, delivered a presentation on the results of the environmental study conducted by Micon International Co Limited ("Micon"), which concluded there is no contamination of groundwater, surface water, or soils from the tailings dam, with all results being below the international standards and guidelines.

·   The study's recommendations focused on modernising equipment and strengthening relations with the local community. AIMC is committed to fully implementing the recommendations. The Commission and management of AIMC have also listened to the concerns of the Soyudlu residents, noting their requests and suggestions.

·     Deputy Minister of Health of Azerbaijan, Mr Nadir Zeynalov, stated the health of the residents of Soyudlu village is satisfactory.

·    The management team of AIMC held positive conversations with the local residents regarding any concerns, community assistance and collaboration.

At the meeting, Reza Vaziri, Chief Executive Officer of Anglo Asian Mining, informed the Soyudlu residents of the Company's commitment to allocate an annual budget for social responsibility projects. This would be in addition to the Company's existing regional and community investments. It was agreed further discussions would take place regarding the social responsibility projects with a working group consisting of representatives from the Gedabek and Soyudlu communities.

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Notes

Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver producer with a high-quality portfolio of production and exploration assets in Azerbaijan. The Company produced 57,618 gold equivalent ounces ("GEOs") for the year ended 31 December 2022. 

On 30 March 2023, the Company published its strategic plan for growth, which shows a clearly defined path for the Company to transition to a multi-asset, mid-tier copper and gold producer by 2028. By 2028, copper will be the principal product of the Company, with forecast production of around 36,000 copper equivalent tonnes. It plans to achieve this growth by bringing into production four new mines during 2023 to 2028 at Zafar, Gilar, Xarxar and Garadag. 

The Company owns approximately 17.4 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. 

https://www.angloasianmining.com/