BAWDWIN TECHNICAL UPDATE– MINING OPTIMISATION Myanmar Metals Limited (“MYL” or “the Company”) provides a summary of a mining optimisation completed as part of the feasibility study works. This information is provided within the context of the Company undertaking a strategic review in relation to its interest in the Bawdwin project, as announced on 16 March 2021.Bawdwin’s JORC (2012) compliant Indicated Mineral Resources were used as the basis for an open-pit optimisation process to define Phase 1 of mining at Bawdwin (the “Starter Pit”). Input parameters provided by technical consultants and the Bawdwin Joint Venture (“BJV”) enabled the generation of a series of open-pit shells. A methodical evaluation of the pit shells resulted in the selection of a final pit shell to be used as the basis for an open pit mine design.This announcement provides discussion on the input parameters and results of the mining optimisation including technical conclusions relating to: geology and metallurgy (as announced on 22 March 2021), mining, geotechnical, processing plant, infrastructure, tailings management, implementation and operations.While the optimisation was based on the JORC (2012) compliant Indicated Mineral Resources this announcement does not constitute a Feasibility Study as defined in the JORC Code and the Company does not declare an Ore Reserve. Financial estimates which rely on the Production Sharing Agreement (PSA) fiscal terms cannot be determined at this time as the PSA negotiations are incomplete.The Company’s investment in the Bawdwin project is exposed to a number of significant risk factors. These risk factors include the current very high level of political instability in Myanmar. A summary of these risk factors is included in this announcement.now
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