Mr. Simon Retter reports

HORIZONTE MINERALS PLC ANNOUNCES INTERIM FINANCIAL RESULTS

Horizonte Minerals PLC has published its unaudited financial results for the six-month period to June 30, 2023.

Highlights of the period, as per the announcement on Aug. 3, 2023:

• Araguaia nickel project line 1 construction activities continued to make good progress, with first metal production on schedule for Q1 2024:
  • Strong safety performance, no lost time injuries with close to 3.8 million hours worked;
  • Approximately 65 per cent of the overall construction of Araguaia was completed as of June 30, 2023, with physical site construction 53-per-cent complete;
  • Several major milestones were achieved during the period, including the delivery of the rotary kiln and commencement of ore mining;
  • $329-million (U.S.) has been spent on the Araguaia construction out of the budgeted capital requirement of $537-million (U.S.).
• Araguaia nickel project line 2 feasibility study (FS), which aims to double nickel production from 14,500 tonnes per annum to 29,000 tonnes per annum, to be published later this year.
• Liquidity and financing sources of $344-million (U.S.) as of June 30, 2023.
• Published fourth consecutive stand-alone sustainability report for 2022.
• A recent video of the project progress is available at the company's website.

This announcement has been posted on the company's website and is also available on SEDAR.

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 high-grade and 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, Araguaia is forecast to produce 29,000 tonnes of nickel per year. Vermelho is at feasibility study stage and is expected to supply nickel to the critical metals 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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