Atlas Conversion Notice & Total Voting Rights

24 September 2021

W Resources Plc

("W" or the "Company")

Atlas Conversion Notice

W Resources Plc (AIM:WRES), the tungsten, tin and gold mining and exploration company with assets in Spain and Portugal, has received a Conversion Notice from Atlas Capital Markets ("Atlas") for £50,000 of Convertible Bonds, the fourth tranche of the second £500k tranche drawn from the £4m facility.

W will issue 1,126,298 ordinary shares of 0.1p per share ("Ordinary Shares") at a conversion price of 6.2328p per Ordinary Share. This includes payment of an outstanding invoice for £20,200 issued by Atlas in respect of a conversion announced on 22 March 2021.

This is the final Atlas Conversion Notice for the second £500k tranche and, following this Ordinary Share issue, no further Atlas Convertible Bonds remain outstanding.

Settlement and Dealings

Application has been made for the admission trading on AIM of the 1,126,298 Ordinary Shares ("Admission"), which is expected on or around 30 September 2021.

Total Voting Rights

Following Admission, the Company's enlarged issued share capital will comprise 120,558,257 Ordinary Shares with voting rights. The Company has no shares held in Treasury. This figure of 120,558,257 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

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