Share issue update following warrant expiry

2 November 2015

Sirius Minerals Plc

Share issue update following warrant expiry

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or "the Company") hereby provide an update in respect of the warrants previously issued to investors on 14 March 2014, in connection with the placing by the Company on 6 March 2014 ("Warrants").

As announced on 28 May 2015, a block listing application was made to the London Stock Exchange for the admission to trading on AIM of up to 179,351,029 ordinary shares in the Company (the "Block Listing Shares"). The Block Listing Shares were the total number of shares that could be issued pursuant to the exercise of Warrants.

Since the date of the last announcement on 19 October 2015, the Company has received exercise notices for a further 36,831,075 Warrants. Pending final confirmation of the exercises including receipt of necessary US Certification Notices 36,831,075 Block Listing Shares have been or are expected to be issued and credited as fully paid in due course, meaning a total of 129,377,517 Block Listing Shares have now been or will be issued pursuant to Warrant exercises, which equates to approximately 72% of the total Warrants originally issued. These shares ("Warrants Shares") rank pari passu in all respects with all existing ordinary shares of the Company. 

The remaining 49,973,512 Warrants have now expired in accordance with the terms of the warrant instrument meaning no further Block Listing Shares will be issued with respect to these expired Warrants.

The issue of the total Warrant Shares at 18p per share has raised approximately £23.3m. The monies will be used for general working capital purposes.

Accordingly, the Company's enlarged issued share capital following the issue of the shares pursuant to the recent Warrant exercises will comprise 2,294,369,698 ordinary shares with voting rights, the Company will provide further confirmation of the issued share capital number later this week once all the exercise mechanics have finalised and Block Listing Shares have been issued.  

Background information in the form of previous announcements relating to the warrants can be found on the Company website: www.siriusminerals.com.

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About Sirius Minerals Plc

Sirius Minerals is the fertilizer development company focused on the development of the York Potash Project in the United Kingdom, which has the world's largest and highest grade deposit of polyhalite, a multi-nutrient form of potash containing potassium, sulphur, magnesium and calcium. Incorporated in 2003, Sirius Minerals' shares are traded on the London Stock Exchange's AIM market. Its shares are also traded in the United States on the OTCQX through a sponsored ADR facility. Further information on the Company can be found at: www.siriusminerals.com.