Mr. Jeremy Martin reports

HORIZONTE MINERALS PLC ANNOUNCES MINING APPROVAL RECEIVED FOR ARAGUAIA

Horizonte Minerals PLC has received its mining approval permit (autoriza o comissionamento da atividade de extracao mineral) for its 100-per-cent-owned Araguaia nickel project in Brazil. The approval was issued by the Para State Secretariat for Environment and Sustainability (SEMAS) and enables Horizonte to commence its mining activities, with initial work under way to establish ore stockpiles on the run-of-mine pad ahead of the commissioning phase.

The approval enables the company to mine, stockpile and categorize ore, optimizing the consistency of the feedstock, a process required to mitigate risk during commissioning which is a key part of the mine-to-mill strategy. Over the course of the next six months, stockpiles will be established, with sufficient ore to feed the plant for the subsequent six months. The Pequizeiro pit, located 750 metres from the plant site, will be the primary source of ore to Araguaia, supplying the first two years of the project's mine life and contributing over 50 per cent of the mine production for the first 10 years.

Jeremy Martin, chief executive officer of Horizonte Minerals, commented: "I am pleased to announce the approval to begin mining activities at Araguaia, another important milestone for Horizonte. The approval allows ore to be mined and stockpiled with the aim of mitigating a key commissioning risk as part of our mine-to-mill strategy ahead of the plant start-up next year.

"The Horizonte team continues to work closely with SEMAS and other local stakeholders, towards delivering long-term sustainable value for all involved in this new Tier 1 nickel project."

About Horizonte Minerals PLC

Horizonte Minerals is developing two 100-per-cent-owned, Tier 1 projects in Para state, Brazil, the Araguaia nickel project and the Vermelho nickel-cobalt project. Both projects are large-scale, high-grade, low-cost, have low-carbon emission intensities and are scalable. Araguaia is under construction with first metal scheduled for Q1 2024. When fully ramped up, with Line 1 and Line 2, it is forecast to produce 29,000 tonnes of nickel per year. Vermelho is at feasibility study stage and is expected to produce 24,000 tonnes of nickel and 1,250 tonnes of cobalt to supply the electric vehicle battery market. Horizonte's combined production profile of over 60,000 tonnes of nickel per year positions the company as a globally significant nickel producer. Horizonte's top three shareholders are La Mancha Investments Sarl, Glencore PLC and Orion Resource Partners LLP.

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