MetalNRG PLC Lake Victoria Gold interest Update

TIDMMNRG

MetalNRG PLC

14 August 2023

14 August 2023

MetalNRG plc

(the "Company" or "MetalNRG")

Lake Victoria Gold interest update

MetalNRG plc (LON:MNRG), the natural resources and energy company, informs the market that Lake Victoria Gold Ltd has informed it of the following proposed transaction.

Tembo Gold Corp. (TSXV: TEM) has announced that it has entered into a Licences Purchase Agreement dated August 9th, 2023 with Lake Victoria Gold Ltd. ("LVG"), a private Australian company in which MetalNRG has a minority equity interest, pursuant to which Tembo Gold will acquire, indirectly through its wholly-owned subsidiary Tembo Gold Tanzania Limited, LVG's Imwelo Gold Project in Tanzania.

The offer is conditional on a number of conditions precedent, that are being worked through by the relevant parties. The detailed announcement from Tembo Gold can be accessed via the link below.

Tembo Gold Announces Transformative Acquisition and Landmark Investment from Tanzanian Strategic Investor | Tembo Gold Corp. | TSX.V - TEM

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For further information, please contact:

 
 MetalNRG PLC: 
 Rolf Gerritsen                   [phone] 
                                 ------------------------------ 
 Christopher Latilla-Campbell     [phone] 
                                 ------------------------------ 
 Peterhouse Capital Limited - Joint Broker: 
 Lucy Williams                   + 44 (0) 207 469 0930 
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 Duncan Vasey                    + 44 (0) 207 469 0930 
                                ------------------------------- 
 S I Capital Limited - Joint Broker: 
 Nick Emerson                    [phone] 
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August 14, 2023 02:00 ET (06:00 GMT)