Appointment of Financial Adviser and Sponsor

Atlas Metals (LON: AMG), the natural resources and energy company, is pleased to announce the appointment of Strand Hanson Limited (“Strand Hanson“) as Financial Adviser and Sponsor in connection with the proposed acquisition of Universal Pozzolanic Silica Alumina Ltd (“UPSA“) (the “Transaction“).

The Transaction constitutes a reverse takeover pursuant to the listing rules of the Financial Conduct Authority (“FCA“) and the appointment of Strand Hanson, an independent, advisory-led, modern merchant bank, regarded as a leading mining advisory team, also supports Atlas Metals in this reverse takeover and move from the equity shares (transition) category to the equity shares (commercial companies) category of the Official List of the FCA and its re-admission to trading on the main market for listed securities of London Stock Exchange plc.

Chris Chadwick, Atlas Metals CEO commented:

“The appointment of Strand Hanson underscores the quality and strategic importance of this transaction for Atlas Metals and the broader London market. Further updates on the progress of the Transaction can be expected in due course.”

Background on UPSA

UPSA is a private company incorporated in England and Wales, formed in May 2023, with core teams in both Australia and the UK. UPSA has the rights to a substantial pozzolanic silica alumina sand resource (“PSA“) located in the Yammacoona Sand Quarry (also known as the Warialda Quarry) approximately 12 kilometres south of Warialda, New South Wales, Australia, both as extracted and as off-take, for a period of 99 years from June 2023, having acquired those rights from Claystone International Pty Ltd (“Claystone International“), an Australian proprietary company owned by Mr William Clift. UPSA intends to market that resource worldwide. The initial development application was granted to Mr William Clift (both he and Claystone International being shareholders of UPSA) on 15 April 1988, providing consent for extractive industry activities on Lots 5, 6 and 7 in DP 264346 of the Yammacoona Sand Quarry. UPSA and Claystone International will seek further development consent (under the State Significant Development legislation) in respect of Lots 5, 6, 7 and 8 to increase production dramatically from the current 35,000 tonnes annual extraction limit.

UPSA’s Product

The use of pozzolanic volcanic ash as a super-binding additive in concrete-mixing process has been known for over two millennia, as evidenced by countless Roman structures that still stand today.

In a world increasingly committed to reduction of carbon emissions, the construction industry is actively seeking solutions to make the built environment more sustainable. ‘Greening concrete’ and the decarbonisation of concrete has emerged as a major goal.

Concrete manufacturing is estimated to contribute up to 8% of global annual CO₂ emissions. UPSA’s PSA resource replaces approximately 40% of cement concrete production leading to significant carbon emissions savings. This enables governments and developers to construct strong, durable structures, deploying PSA, designed to last for centuries rather than decades, with the additional benefit of carbon credits once accredited and verified by a designated agency. UPSA will market its PSA resource to clients for sustainably constructing, designing, building, and operating projects to minimise environmental impacts while maximising long-term structural benefits.

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Important Notice

Neither the content of the Company’s website nor any website accessible by hyperlinks on the Company’s website is incorporated in, or forms part of, this announcement.

This announcement contains statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of words such as “will”, “expect”, “could”, “believe”, “intend”, “should” and words of similar meaning. All statements other than statements of historical facts included in this announcement, including those regarding the Company’s strategy, plans and objectives and the anticipated Transaction are forward-looking statements. These statements are not fact and readers are cautioned not to place undue reliance on such statements. Forward-looking statements involve a number of known and unknown risks, uncertainties and other factors, many of which are difficult to predict and generally beyond the control of the Company and so may not occur. These forward-looking statements speak only as of the date of this announcement. Atlas Metals expressly disclaims any obligation or undertaking to update or revise any forward-looking statement (except to the extent legally required).

Strand Hanson Limited (“Strand Hanson“), which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for the Company as Sponsor and no one else in connection with the Transaction and it will not regard any other person as a client in relation to the Transaction and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Transaction or any other transaction, matter, or arrangement referred to in this announcement.

This announcement has been issued by, and is the sole responsibility of, the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Strand Hanson or by any of its affiliates, partners, directors, officers, employees, advisers or agents as to or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

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