16 February 2024
Anglo Asian Mining PLC
Update on investment in Libero Copper & Gold Corporation
Anglo Asian Mining PLC ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, announces that Michael Sununu, Non-Executive Director of the Company has resigned from the Board of Libero Copper & Gold Corporation ("Libero"). This follows Anglo Asian's holding in Libero falling to 5.7 per cent., lower than the 9.9 per cent. threshold that entitles the Company to maintain a Director on the Board of Libero. Anglo Asian's holding in Libero has reduced as it has not participated in several recent rounds of financing.
**ENDS**
For further information please contact:
| Anglo Asian Mining plc
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| Reza Vaziri, Chief Executive Officer | Tel: +994 12 596 3350 |
| Bill Morgan, Chief Financial Officer | Tel: +994 502 910 400 |
| Stephen Westhead, Vice President | Tel: +994 502 916 894 |
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| SP Angel Corporate Finance LLP (Nominated Adviser and Broker) Ewan Leggat Adam Cowl | Tel: +44 (0) 20 3470 0470 |
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| Hudson Sandler (Financial PR) Charlie Jack Harry Griffiths | Tel: +44 (0) 20 7796 4133
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About Anglo Asian Mining
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 31,821 gold equivalent ounces ("GEOs") for the year ended 31 December 2023.
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 which time 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 the period 2024 to 2028 at Zafar, Gilar, Xarxar and Garadag.
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