Most importantly all parties engaged with in-country have...

Most importantly all parties engaged with in-country have indicated that they will not negotiate with either the AVZ CEO or the current AVZ board.

This now appears to be self-evident. Upon return from the DRC, the Nominated Directors immediately attempted to engage the Chair of the Board to convey these concerns but have been met with indifference.It should be noted that the proposed split of the tenement was first observed in AVZ’s announcement on 4th May 2022, but despite the fact that AVZ has never received any indication it was likely to be awarded the Northern portion, AVZ has continued its assertion of ownership.

The Nominated Directors believe that several proposed solutions have been provided to AVZ which offered materially better terms of the split announced today. AVZ should immediately disclose these to allow shareholders to decide if the current Board has acted in the best interests of its shareholders at all times.