URU CLOSES OVERSUBSCRIBED PLACING

4 November 2025

URU Metals Limited ("URU" or the "Company")

URU CLOSES OVERSUBSCRIBED PLACING

Fundraising

URU Metals Limited is pleased to announce that following the successful granting of the mining licence by the South African Department of Minerals and Petroleum Resources (DMPR), the Company has raised £1.1 million, before expenses, through a placing of 15,714,285 new ordinary shares of no nominal value each in the capital of the Company (the 'Placing Shares') at a price of 7p per share. The Placing was arranged by the Company's broker, Axis Capital Markets Limited.

The funds raised will allow URU to begin critical, on the groundwork, such as ground geophysics, which will give a clearer picture of the geological site and form a crucial part of the preparation for a drilling programme that will commence on completion of the geophysics. Following receipt of the placing proceeds, the Company will begin a tender process to find a drilling contractor for work that is expected to start in Q1 2026.

Admission and Dealing of the Shares

The Placing Shares will be issued as fully paid and rank pari passu in all respects with the existing ordinary shares of the Company, including the right to receive dividends and other distributions declared on or after the date on which they are issued.

Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading at 8:00 a.m. on or around 7 November 2025.

Total Voting Rights

Following admission of the Placing Shares, the Company's issued share capital will be 96,963,703 Ordinary Shares. This figure of 96,963,703 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the share capital of the Company.

John Zorbas, Chief Executive Officer commenting: "After the successful granting of the long awaited mining licence by the DMPR, we are pleased to have secured the funding requirements for the immediate future of the on the ground operations at our flagship Zeb Nickel Project. The amount available to the Company is significantly above what the Company has previously raised, reflecting increased investor interest at this critical time in URU's development. 

About the Company

URU Metals is a mineral exploration and development company focused on advancing its high-potential critical metals project in South Africa. The Company is committed to creating sustainable value through responsible mining practices, regulatory compliance and engagement with stakeholders. For more information, visit www.urumetals.com

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of European Union (Withdrawal) Act 2018 (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For further information, please contact:

URU Metals Limited

John Zorbas

(Chief Executive Officer)

+1 416 504 3978

SP Angel Corporate Finance LLP

(Nominated Adviser and Broker)

Ewan Leggat / Jen Clarke + 44 (0) 203 470 0470