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IMC announces that the Board of Directors has resolved to issue as follows in lieu of monetary remuneration an aggregate of 14,794,916 new ordinary shares of €0.001 each in the capital of the Company at 0.63 pence Sterling per share (the “Remuneration Shares”), being the mid-market closing price on 16th December 2022 on the main market of the London Stock Exchange of the Company’s shares:

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IMC Exploration Group plc (“IMC”), the London-listed exploration company based in Ireland, is pleased to announce the following update in relation to the previously announced (15th April 2021) Framework Agreement dealing with the proposed acquisition from MVI Invests (“MVI”) of MVI Ireland s.r.o. (“MVI Ireland”), a special purpose company established to own 100% of Assat LLC (“Assat”), an Armenian-registered company that holds the mining licence for the Karaberd Mine, located in Lori Marz, northern Armenia (the “Acquisition”).   This transaction, as previously announced, is classified as a reverse takeover (“RTO”) pursuant to the Listing Rules of the Financial Conduct Authority of the United Kingdom ("FCA") (the "Listing Rules") to which the Company is subject, and under the Irish Takeover Panel Act 1997, Takeover Rules 2013 (the “TakeoverRules”).

About IMC Exploration

IMC Exploration Group plc (IMC) is currently listed on the London Stock Exchange market (Ticker: IMC). IMC has a Mineral Resource that is classified as ‘inferred’ and has been reported in accordance with the JORC Code (2012). IMC holds properties in southeast Ireland that are highly prospective for gold, copper and other base metals. These include the world famous historic Avoca copper mine.

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Contact details

IMC Exploration Group plc,
70 Ballybough Road,
Dublin 3, Ireland

Telephone: +353 872819215

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