Zamare Appoints Managing Director and acquires Third Copper/Cobalt Exploration Licence in Zambia

Zamare Minerals Limited (“Zamare” or “the Company”) is pleased to announce that it has appointed Roger Murphy as Managing Director of Zamare. In addition, the Company has updated investors on its acquisition of a third Copper/Cobalt exploration licence in the prolific North-West Province region of Zambia.

Roger Murphy (B.Sc. (Geol), M.Sc, MBA) is an experienced Chief Executive Officer with a demonstratable history of working in the mining & metals industry. In a near 40 year career around mining he has worked in mineral exploration, investment banking and exploration company management.

Until recently, Roger was CEO of the AIM-listed African Battery Metals and its precursor company Sula Iron & Gold. This company was initially focused on gold exploration in Sierra Leone and later on copper and cobalt exploration in the Democratic Republic of Congo.

Prior to this Roger spend 22 years in mining finance in London. Before joining Sula Roger was Head of the London office of Dundee Capital Markets. Roger also worked at Renaissance Capital and Canaccord Adams, where he was Head of Sales and a member of Canaccord Adams London’s Executive Committee. Roger started his career in mining finance with Deutsche Bank. Over his 22-year career focusing on mining equity capital markets, Roger has worked with close to 50 companies to raise many billions of dollars in equity capital. Roger has travelled and worked extensively across much of Africa.

He started his career as an exploration geologist working for both British Petroleum in Botswana and Anglovaal Mining in South Africa. Roger also worked in mineral exploration in Canada and as a hydrogeologist in the UK.

Chairman of Zamare, Julian Hammond, commented, “We are extremely excited to welcome Roger Murphy to the Zamare team. He brings a wealth of experience to the Company including running mineral exploration companies in Africa and also senior investment banking capability at a high level. We look forward to working with Roger to maximise the potential of our exploration assets in Zambia.”

Licence Acquisition

Zamare also announced it had acquired the new Large Scale Exploration Licence 25521-HQ-LEL. The licence is 243 km2 in size and the licence tenure runs for an initial 4-year period, being renewable to 2030.

Licence 25521 targets IOCG style, copper-gold sulphide mineralisation associated with granitic intrusions of the Synclinorial and Katangan High geological belts. The Kitumba Project which has a JORC-compliant Measured & Indicated Resource of 27.9mt of ore at 2.2% copper is an example of this style of mineralisation. While the understanding of what controls mineralisation has been developed and used for targeting proximal to Kitumba, that knowledge has not been applied to the granites and analogous targets in licence 25521. However mineralisation in the region of 25521 was identified in limited historical drilling but has not been pursued. This has created an opportunity for significant discovery that Zamare is capitalising on by pioneering new exploration in the region with applied knowledge focussed on discovery.

Zamare now has three licences in Zambia covering 583 km2 and is planning to raise funds to carry out the 2020 exploration program across all three licences. Zamare is in discussions with other Zambian mineral exploration licence holders and expects to acquire more licences in the near future.

Zamare is a Copper/Cobalt Exploration Company focusing on minerals in high demand from the rapidly growing Renewable Energy Market. Its strategy is to secure highly prospective exploration acreage in renowned Copper/Cobalt provinces in close proximity to large, discovered reserves. Zamares objective is to acquire a high-quality land portfolio through tight capital discipline to maximise shareholder returns. Funding will be required for further acquisitions and the follow on work program.

Please contact the Company for any further information.

Chairman: Julian Hammond Contact: j.hammond@zamareminerals.com

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26 May 2020

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