Share Buyback Authority & Notice of EGM

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES OF AMERICA , AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, ANY MEMBER STATE OF THE EEA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

12 June 2026

Golden Prospect Precious Metals Limited (the Company or GPM)

Share buyback authority and notice of Extraordinary General Meeting

The Board of GPM announces that the Company has today published a circular (the Circular), which contains notice of an Extraordinary General Meeting of the Company at which the Board will seek Shareholders' approval to renew the existing share buyback authority granted to the Board. The Extraordinary General Meeting will be held at 09:30 a.m. on 8 July 2026 at the registered office of the Company at 1 Royal Plaza, Royal Avenue, St Peter Port, Guernsey, GY1 2HL.

At the Company's annual general meeting on 5 June 2026 (the 2026 AGM), Shareholders granted authority to the Directors to make market purchases of up to 15,216,205 ordinary shares in the capital of the Company (Ordinary Shares) representing 14.99 per cent. of the issued Ordinary Share capital (excluding treasury shares) as at 13 May 2026. As at 11 June 2026, the Company had bought back 11,635,910 Ordinary Shares and the authority granted at the 2026 AGM has been substantially utilised. If buybacks were to continue at the same rate as they have since the 2026 AGM, the remaining buyback authority would be fully utilised before the Company's next annual general meeting (the 2027 AGM), which is expected to be held in May 2027. The Directors therefore wish to renew the existing authority granted to the Board of Directors at the 2026 AGM by seeking a more immediate approval.

In April 2026, following six months of progressive widening of the discount to net asset value (NAV) at which the Ordinary Shares were trading from single digits to in excess of 25%, the Directors decided to commence repurchasing Ordinary Shares. Since the commencement of these buybacks, a total of 25,586,121 Ordinary Shares have been repurchased and the discount has narrowed from over 25% into as narrow as single digits. Such buyback activity has, as anticipated at the outset, encountered significant supply of Ordinary Shares available for sale at various discount levels. More recently, a large block of Ordinary Shares was sold by a Shareholder on the day of the 2026 AGM, including with the use of a large proportion of the buyback authority refreshed at that AGM.

As at close of business on 11 June 2026, the Company had repurchased 11,635,910 Ordinary Shares which represents utilisation of 11.46 per cent. of the 2026 AGM buyback authority and leaves the Company with a relatively small remaining share buyback authority.

If the renewal of the buyback authority is granted, this will allow the Company to continue to execute share buybacks to prevent the discount to NAV reaching excessive levels on a sustained basis, which the Directors believe would be in the best interests of the Company and its Shareholders.

The Board believes the benefits of buying back further Ordinary Shares are:

· to provide additional liquidity in the Ordinary Shares;

· to manage the extent of the discount to NAV represented by the Ordinary Share price; and

· to generate a modest increase in net asset value per Ordinary Share for existing Shareholders by buying back Ordinary Shares at a discount to the prevailing NAV.

A copy of the Circular will be submitted to the National Storage Mechanism and will shortly be available for inspection. The Circular and the Notice of the Extraordinary General Meeting will also be available on the Company's website at https://ncim.co.uk/golden-prospect-precious-metals-ltd/.

Unless the context requires otherwise, all defined terms used in this announcement will have the same meaning as described in the Circular.

About Golden Prospect Precious Metals 

Golden Prospect Precious Metals Limited is a closed-ended investment company incorporated with limited liability in Guernsey on 16 October 2006. The Company's investment objective is to provide Shareholders with capital growth from a portfolio of companies involved in the precious metals sector. For the latest factsheet and other information, click here.