Mr. Martin Horgan reports

CENTAMIN PLC ANNOUNCES ENCOURAGING MAIDEN EDX DRILL RESULTS

Centamin PLC has released the results of its maiden drill program on the company's Eastern Desert exploration (EDX) landholding in Egypt, and has provided an update on the anticipated exploration program for 2024. The company's EDX blocks comprise 3,000 square kilometres of greenfield exploration tenements within Egypt's Nubian Shield -- a highly prospective geological belt which has not been explored using modern exploration methods.

Martin Horgan, chief executive officer, commented: "Through the application of our systematic approach to assessing the geological potential of our Egyptian exploration portfolio, our team has delivered an encouraging set of maiden drill results across several targets within the Nugrus block, which is adjacent to our operating mine, the Sukari gold mine.

"Supported by a pending new mining regulatory and fiscal regime, these results underpin Egypt's emergence as an attractive exploration jurisdiction which Centamin is uniquely positioned to leverage given our experience and long-standing position in country.

"We have an exciting work program budgeted for 2024, which includes delineating potential resources and further drill targets in Egypt as part of our growth strategy, which has already increased predepletion group reserves by 3.5 million ounces over the last three years."

Drill highlights

Centamin completed a 16,216-metre reverse circulation (RC) maiden drill program across eight targets on the Nugrus block, which is located adjacent to the Sukari mining concession.

Significant drill intercepts include:

• Little Sukari prospect (28 kilometres west of the Sukari gold mine):
  • 46 m at 3.3 grams per tonne gold from 91 m down hole;
  • 77 m at 1.84 g/t Au from 44 m;
  • 69 m at 2.01 g/t Au from 81 m;
  • 46 m at 2.14 g/t Au from 116 m;
  • 29 m at 2.71 g/t Au from two m.
• Umm Majal prospect (23 km west of Sukari gold mine):
  • 18 m at 2.33 g/t Au from 21 m;
  • 15 m at 1.46 g/t Au from four m;
  • Eight m at 2.67 g/t Au from two m;
  • Five m at 16.20 g/t Au from 44 m.

2024 exploration program:

• Detailed geological mapping and ground geophysical (induced polarization and magnetics) surveys to be carried out over the Nugrus prospects, Little Sukari and Umm Majal, in the first half of 2024;
• Up to 15,000 metres of RC and diamond core drilling budgeted for follow-up drill testing at Little Sukari and Umm Majal, alongside preliminary metallurgical testing, a conceptual resource estimate and an optimization study to steer continuing drilling. This program may be expanded to include first-pass drill testing of potential new Nugrus targets generated through continuing exploration fieldwork;
• Results-driven exploration program on the Um Rus block to be determined after receipt of the soil geochemistry results, expected in H1 2024;
• Bulk leach extractable gold (BLEG) drainage sampling program commenced on the Najd block in late December, 2023, and will continue throughout H1 2024;
• Generative exploration will continue across all the exploration licences, including soil geochemistry, rock chip sampling over gold-in-soil anomalies and detailed geological mapping, with the objective to identify new drill targets.

About Centamin PLC

Centamin is an established gold producer. The company's flagship asset is the Sukari gold mine, Egypt's largest and first modern gold mine, as well as one of the world's largest producing mines. Since production began in 2009, Sukari has produced over five million ounces of gold, and today has a projected mine life to 2035.

Through its large portfolio of exploration assets in Egypt and West Africa, Centamin is advancing an active pipeline of future growth prospects, including the Doropo project in Ivory Coast, and over 3,000 square kilometres of highly prospective exploration ground in Egypt's Arabian Nubian Shield.

Centamin practices responsible mining activities, recognizing its responsibility to deliver operational and financial performance and create lasting mutual benefit for all stakeholders through good corporate citizenship.

Sampling and analysis

RC samples are collected at one-metre intervals, split using a three-tier riffle splitter, and weighed, bagged and labelled at the drill site.

All samples are submitted to ALS Minerals, a subsidiary of ALS Global. Sample preparation takes place at ALS's laboratory in Marsa Alam. All samples are crushed to 70 per cent passing minus-two millimetres and then pulverized to 85 per cent passing minus-75 micrometres. Barren quartz washes are passed through all crushing equipment at the start of every shift, between batches of samples and every 20 samples during sample crushing. Pulverizing equipment is subjected to a barren quartz wash at the start of every shift, between sample batches, every 10 samples during sample milling as well as when mill pucks are changed.

ALS Minerals then transports the samples to its analytical laboratory in Loughrea, Ireland, for analysis by 50-gram fire assay with an ICP-AES finish. The chain of custodianship is maintained throughout the shipping process. Samples returning values over 10 g/t gold are reassayed gravimetrically.

Quality assurance/quality control

Check samples, including uncertified blank samples, certified reference materials and field duplicate samples, were inserted into the sample stream at a rate of 5 per cent each for a total of 15 check samples per 100 samples sent to the laboratory.

All assay results, including check sample results, are subject to standard quality control before being captured into a Centamin-administered database.

Calculation of intercepts

Significant intercepts reported are calculated with minimum down-hole lengths of two metres using a cut-off grade of 0.5 g/t Au and including up to four consecutive metres of internal dilution. No top cuts are used. Internal intervals of greater than five g/t Au that occur within broader intercepts are reported separately as included intervals.

Mineralized intercepts are not true widths, but are presented as drilled; in other words, as apparent mineralized widths in the drill hole.

Qualified person

Information of a scientific or technical nature in this document was prepared under the supervision of qualified person Howard Bills, head of exploration at Centamin, for the exploration results.

The qualified person is an employee of the company and is not independent of the issuer applying the test set out in Section 1.5 of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

The qualified person has verified the data disclosed, including sampling, analytical and test data underlying the information or opinions contained in this news release, in accordance with standards appropriate to his qualifications.

We seek Safe Harbor.