Proposed sale of Eureka Project in Argentina

25 February 2025

Bezant Resources Plc

("Bezant" or the "Company")

Proposed sale of Eureka Project in Argentina

Bezant (AIM: BZT), the copper-gold exploration and development company, announces that the Company has agreed head of terms (the "HoT") with Ajax Resources Plc ("Ajax") (LSE:AJAX) to sell Puna Metals S.A. ("Puna") which holds the 12 licences comprising the Eureka Project located in the Republic of Argentina ("Eureka" or the "Project").

Under the HoT, Bezant, has agreed terms, to be formalised by way of a share purchase agreement, to sell 100% of Puna by way of an initial US$120,000 cash payment, with deferred consideration of an additional US$100,000, to be satisfied through the issue of new ordinary shares of 1 pence each in Ajax to Bezant (the "Disposal").

The deferred consideration element of the Disposal will become payable on the admission to trading of the enlarged share capital of Ajax to a recognised stock exchange or multilateral trading facility, with the value of the deferred consideration calculated by reference to a broader fundraising concurrently undertaken by Ajax.

Bezant's audited accounts to 31 December 2023 included total assets of £11K and liabilities of £105K in relation to the Eureka Project.

The Company will provide further information in due course.

For further information, please contact:

or visit http://www.bezantresources.com

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310).

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.