Mr. Karim Nasr reports

HORIZONTE MINERALS PLC ANNOUNCES INTERIM US$20M FUNDING PACKAGE SIGNED

Horizonte Minerals PLC has agreed a $20-million (U.S.) interim financing package which comprises a $15-million (U.S.) senior secured loan facility and the release of $5-million (U.S.) by OMF Fund III Cr. Ltd. previously secured at Vermelho that will allow for critical construction streams to advance at its flagship Araguaia nickel project and for general working capital purposes.

Interim CEO Karim Nasr commented, "We are pleased to see the continued support from our cornerstone shareholders through this US$20 million funding package. This funding package is a demonstration from the Company's largest shareholders on their commitment towards finding a solution to complete the Araguaia Nickel Project construction. We are actively engaging with our cornerstone shareholders and senior lenders with the goal of unlocking a funding solution in Q2 2024. We wish to thank our cornerstones, local stakeholders and employees for their continued commitment and support."

The Facility has been provided by OMF Fund III (F) Ltd. ("Orion Mine Finance"), La Mancha Investments S.a r.l. ("La Mancha") and Glencore International AG ("Glencore") (together the "New Money Lenders"), who have each committed US$5 million to the Facility. The New Money Lenders will rank pari passu with the Senior Lenders and will benefit from the same security package. The Facility will have a maturity date falling 102 months from 7 December 2022 and will bear interest at 15.00% per annum.

Furthermore, the existing Senior Lenders have agreed to waivers that include deferral of interest due at 31st December 2023 to the end of February 2024 in addition to any breaches or Events of Default under the Senior Debt Facilities.

The Funding Package constitutes a related party transaction under Rule 13 of the AIM Rules for Companies. As such, the Company's independent directors (excluding those connected to La Mancha and their nominees) consider, having consulted with its nominated adviser Peel Hunt LLP, that the terms of the Funding Package are fair and reasonable insofar as its shareholders are concerned.

Further to the above, OMF Fund III (Cr) Ltd. has demonstrated its further support to the Project through the release of an additional US$5 million currently secured at Vermelho, Horizonte's second 100% owned project in Brazil. Following the closing of the funding package, US$11 million will remain segregated for the development of Vermelho, where on-going studies continue to advance.

The Funding Package provides the Company with liquidity to advance the required re-estimation work at Araguaia, necessary to implement a full funding solution. It will also allow two critical workstreams to be completed, the Water Storage Reservoir and the 230kV powerline, while maintaining a strong focus on safety.

As previously announced, the Company's cornerstone shareholders and senior lenders are continuing to undertake their respective due diligence as part of a full funding solution, which includes working with the Company and consultants who are undertaking a review of the outstanding Project capital expenditure and schedule. It is expected that this due diligence process and review will be finalised in Q1 2024, with a full funding solution targeted for Q2 2024.

While the Funding Package will allow near term work at Araguaia to progress, completion of construction activities at Araguaia will be subject to successful completion of a full financing solution in 2024. There can be no certainty at this stage that the full financing solution will be achieved.Figure 1 - An overview of the Araguaia processing site as at the beginning of December 2023.Figure 2 - A view from above the Homogenisation building looking towards the primary and secondary crushers, the ROM pad and stockpiles.Figure 3 - A view of the steel erection of the Electrostatic Precipitator, the Rotary Kiln, the Electric Arc Furnace and the Refinery.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014, as retained in the UK pursuant to the European Union (Withdrawal) Act 2018.

For further information, visit www.horizonteminerals.com or contact:Horizonte Minerals plcPatrick Chambers (Head of IR) info@horizonteminerals.com+44 (0) 203 356 2901 Peel Hunt LLP (Nominated Adviser & Joint Broker)Ross AllisterRichard CrichtonDavid McKeownBhavesh Patel +44 (0)20 7418 8900 BMO (Joint Broker)Thomas RiderPascal Lussier DuquetteAndrew Cameron +44 (0) 20 7236 1010 Barclays (Joint Broker)Philip LindopRichard Bassingthwaighte +44 (0)20 7623 2323 Tavistock (Financial PR) Jos SimsonCath Drummond +44 (0) 20 7920 3150

ABOUT HORIZONTE MINERALS

Horizonte Minerals Plc (AIM/TSX: HZM) is developing two 100%-owned, Tier 1 projects in Para state, Brazil - the Araguaia Nickel Project and the Vermelho Nickel-Cobalt Project. Both projects are high-grade, low-cost, with low carbon emission intensities and are scalable. Araguaia is under construction and when fully ramped up with both Line 1 and Line 2, is forecast to produce 29,000 tonnes of nickel per year. Vermelho is at feasibility study stage. 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 S.a r.l., Glencore Plc and Orion Mine Finance.

We seek Safe Harbor.