National Storage Mechanism | Additional information

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This announcement is an advertisement and not a prospectus. It does not constitute or form part of, and should not be construed as, an offer to sell or issue, or a solicitation of any offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. Investors should not subscribe for or purchase any securities referred to in this announcement except on the basis of information in the prospectus (the "Prospectus") to be published by Great Southern Copper plc, in due course in connection with the proposed admission of the ordinary shares in the capital of the Company (the "Ordinary Shares") to listing on the standard segment of the Official List and to trading on the London Stock Exchange's Main Market for listed securities. Copies of the Prospectus will, following publication, be available for viewing on the Company's website at: https://gscplc.com.

This announcement is directed only at persons whose ordinary activities involve them in acquiring, holding, managing and disposing of investments (as principal or agent) for the purposes of their business and who have professional experience in matters relating to investments and are: (i) if in a member state of the European Economic Area ("EEA"), Qualified Investors as defined in article 2(e) of Regulation (EU) 2017/1129 (the "EU Prospectus Regulation"); (ii) if in the United Kingdom, are Qualified Investors as defined in article 2(e) of the EU Prospectus Regulation as it forms part of domestic law pursuant to the European Union (Withdrawal) Act 2018 and who are (i) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order, (iii) sophisticated investor who are persons falling within Article 50(1) of the Order, and (iv) persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons"). This announcement must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with such persons

4 October 2021

Great Southern Copper plc

("GSC" or the "Company")

Intention to List on the Main Market of the

London Stock Exchange

Great Southern Copper plc, the company focused on copper-gold exploration in Chile, announces its intention to seek admission of its Ordinary Shares to trading on the standard segment of the Official List of the Financial Conduct Authority (the "Official List") and to trading on the main market of the London Stock Exchange (together "Admission"). SI Capital Limited is acting as Financial Adviser and Broker to the Company in relation to Admission.

Overview

· GSC has the option to acquire rights to 100% of two projects that are prospective for large porphyry copper-gold ("Cu-Au") deposits in the underexplored coastal belt of Chile, a globally significant mining jurisdiction and the world's largest copper producer.

· The San Lorenzo and Especularita projects sit within the same metallogenic belt as major coastal producing operations including Teck's Andacollo copper and gold mine

o San Lorenzo: mining and exploration concessions covering 25,680 ha with extensive historical mine workings for high-grade Cu-Au. GSC field exploration, including drilling, has discovered outcropping evidence of alkalic type porphyry Cu-Au mineralisation. The project includes untested regional potential outside of the primary and secondary target zones

o Especularita: mining and exploration concessions covering 13,779 ha with extensive historical small-scale mining and processing activity. Work by GSC supports evidence of a complete porphyry-epithermal system prospective for Cu-Au

· Projects are located in the Chilean coastal metallogenic belt, which is underexplored relative to the Andean belt but benefits from well-established infrastructure. This significantly reduces exploration costs and enhances the economics for large-scale mining operations in the area.

· Chile is the largest copper miner and producer in the world, mining 5.7 million tonnes in 2020, almost 30% of total global production and more than the next three largest producing countries combined. Seven of the world's top 15 copper mines are located in Chile and 23% of the world's reported copper reserves.

· Management team with a strong discovery record and extensive experience of exploring for copper and gold deposits.

· Projects give opportunity to take advantage of the supply deficit in the copper sector accentuated by the drive towards more sustainable and efficient sources of energy.

Strategy

GSC's exploration effort is focused on copper terrains in Chile's coastal metallogenic belt which boast excellent infrastructure, are close to port and have been the source of some of Chile's most exciting new discoveries such as Hot Chili's (ASX:HCH) Cortadera and Productora deposits (724Mt at 0.48% CuEq for 2.9Mt copper, 2.7Moz gold, 9.9Moz Silver and 64kt molybdenum), only 85km along strike from GSC's San Lorenzo Project.

The primary objective of the Company is to focus on the advancement of the exploration and evaluation of its copper-gold projects as well as potentially to seek further acquisitions and investments to create a pipe-line of projects and generate value for shareholders. The Company is planning a two-year exploration work programme for the copper-gold projects, targeting principally large tonnage, low to medium grade porphyry style Cu-Au deposits.

GSC's two projects are held under Purchase Option Agreements which allow the Company to potentially own 100% of the projects subject to the annual payment of option fees paid over a six-year period and valued up to US$2m each. There are no royalty or additional payments to vendors for the projects.

Projects

GSC's two projects comprise the San Lorenzo Project, northeast of the coastal town of La Serena in northern Chile and the Especularita Project located approximately 170km to the south of the San Lorenzo project. The two early-stage Cu-Au projects are within the same metallogenic belt as major coastal producing operations including Teck's Andacollo copper and gold mine. Significant historical small-scale and artisanal workings for both copper and gold are readily evident in both exploration project areas. However, exploration on the projects has not as yet matured to the stage where a mineral resource estimate can be determined.

San Lorenzo

San Lorenzo is the Company's principal project and comprises both mining and exploration concessions covering 25,680 ha, which includes extensive historical mine workings for high-grade Cu-Au as well as evidence of placer gold workings in two locations. GSC is targeting bulk tonnage porphyry Cu-Au deposits at San Lorenzo. Porphyry deposits are the world's most important source of copper and molybdenum and are major sources of gold, silver and other metals. Recent announcements by Hot Chili Ltd of the discovery of a porphyry Cu-Au resource located within the coastal area, 85km to the north of San Lorenzo, supports the porphyry copper exploration model being pursued by GSC at San Lorenzo.

Work by GSC demonstrates that the San Lorenzo project contains vein and disseminated porphyry-style mineralisation, exhibiting characteristics of an alkalic-type porphyry system. GSC believes that the project is prospective for both higher-grade, vertically extensive mineralisation associated with the monzonite porphyry pipes as well as extensive lower grade sheeted vein deposits hosted in granodiorite wall rocks formed by the overprinting or coalescing of two or more porphyry pipes. The alkalic system has only recently been recognised at San Lorenzo and further exploration work is required to develop geological knowledge and further refine targets prior to drill testing.

GSC plans to carry out exploration programmes at San Lorenzo to develop a better understanding of the potential for large tonnage, mineralised, sheeted vein systems and discrete pipe porphyry style Cu-Au targets. GSC has identified five priority target areas that have demonstrated high prospectivity to date. These include the Chinchillon Zone, the Las Hermanas Zone, the Cerro Blanco Zone, the Preserverancia Zone and the San Miguel Zone.

Especularita

The Especularita Project comprises mining and exploration concessions covering 13,779 ha. The Especularita project area appears to be located within a district-scale mineral system comprising porphyry, skarn, high-sulphidation and low-sulphidation epithermal Cu-Au alteration and mineralisation. Spatial and temporal relationships of the three styles suggest that they are related to a large composite hydrothermal system.

While there is limited evidence of historical exploration to date, geological mapping and sampling work by GSC has confirmed a complete porphyry-epithermal system that GSC believes is prospective for Cu-Au mineralisation. This project is at an early stage of exploration, but results to date are encouraging, with multiple large-scale targets identified and further exploration is planned.

Rationale for Admission and Use of Proceeds

The Company is seeking Admission with the intention of providing funds for the exploration of its two projects in Chile, the San Lorenzo and Especularita projects.

Use of Proceeds

· Fund the proposed work programme for the exploration of the concessions. This will comprise:

o detailed mapping and sampling, trenching and ground geophysics surveys and subsequent first-pass reconnaissance drilling at the San Lorenzo project area

o project-scale mapping and sampling with geophysics and stream sediment geochemistry surveys at the Especularita project area

· Pay the Company's ongoing corporate costs and expenses

In addition, the Company is seeking Admission to raise its public profile, thereby promoting the Company and its strategy; to create a broad investor base with access to institutional and other investors; and to take advantage of the potential liquidity offered by a Standard Listing and the enhanced perception with stakeholders of being a listed company.

Sam Garrett, Chief Executive Officer of Great Southern Copper, said: "It is a great time to be focused on copper-gold exploration and we are excited to advance our two large scale exploration projects in Chile, a globally significant mining jurisdiction and the largest copper producing country in the world. There is a significant shortfall in the supply of copper, which is becoming more acute with demand increasing as the global economy moves towards green, sustainable energy. Copper exploration and extraction will be vital in achieving a low carbon future, which presents an excellent opportunity for a new generation of copper deposits to help mitigate the looming supply deficit. It is an added incentive for explorers to advance highly prospective targets such as our San Lorenzo and Especularita projects.

"Listing on the London Stock Exchange will enhance the Company's profile, gives GSC access to institutional investors, and will provide funds to explore our projects in Chile. We look forward to welcoming new investors at this exciting point in GSC's development."

Enquiries

Great Southern Copper plc
Sam Garrett, Chief Executive Officer	+44 20 7618 9100

SI Capital Limited
Nick Emerson	+44 (0)14 8341 3500
Luther Pendragon
Harry Chathli, Alexis Gore, John Bick	+44 20 7618 9100

Background and Market

Chile

GSC has rights to acquire 100% of two copper-gold exploration projects in Chile. Chile is historically politically stable with a well-established Mining Code and a very long history of mining copper and other commodities. Chile is the largest copper miner and producer in the world, mining 5.7 million tonnes in 2020, almost 30% of the estimated 20 million tonnes produced globally, and more than the next three largest producing nations combined. In September 2021, the Chilean Government announced a new National Mining Policy 2050 report, which includes the ambition to increase production of copper to seven million tonnes annually by 2030 and nine million tonnes of copper by 2050. With seven of the world's top fifteen copper mines located in Chile, the country boasts 23% of the world's reported copper reserves, supporting its position as the top producer, with the US Geological Survey estimating that 200 million tonnes of the world's 870 million tonnes of copper reserves are located in Chile.

Copper Market

Copper is one of the most commonly used resources in people's day-to-day lives including a wide variety of applications. Copper is expected to form a key part of sustainable technologies and renewable energy systems, including solar, hydro, thermal and wind energy. One example of the demand on copper can be seen with the rise in electric vehicles which, according to Goldman Sachs, contain up to five times more copper (60-83kg) than a car fitted with an internal combustion engine. With demand in copper increasing, it is creating a supply deficit as existing deposits are being depleted faster than new mines can come onstream leading to a squeeze on global copper inventories.

GSC's competitive strengths

The Directors believe that the Company should be well placed to compete against other market participants in the mining exploration sector on the basis of the following competitive advantages:

a. the Directors have wide-ranging experience in capital markets and working for and/or advising businesses operating within the mineral exploration sector, in particular CEO Samuel Garrett has over thirty years of exploration management assessment and operational experience including discovery of gold and copper projects.

b. Sam's career includes discovery and development credits for the Mt. Elliot Cu-Au mine (Qld), Dinkidi Cu-Au mine (Philippines), Tujuh Bukit Au-Ag-Cu mine (Indonesia) and the Havieron Au-Cu project (WA). Sam is supported by renowned explorationist and ore-finder Mr. Doug Kirwin, who has over 45 years experience and serves as a Technical Advisor to the Board;

c. Chile is historically politically stable and has a well-established Mining Code as well as a very long history of mining copper;

d. a large concession holding across multiple projects with the rights to 100% ownership, with low entry prices and no overhanging royalties to concession holders;

e. a supportive major shareholder;

f. local partners, who have well established history in Chile; and

g. projects which are located in coastal jurisdictions where well-established infrastructure exists, keeping costs low and a temperate climate which allows drilling all year around.

The Board

Charles Bond, Chairman

Charles is a corporate finance lawyer with over 25 years of experience and has worked with mining companies for the last 15 years. He is a partner in the London office of international law firm Gowling WLG (UK) LLP, where he leads the UK firm's Natural Resources group and Equity Capital Markets team. He practises in capital markets and public and private M&A for mining clients in developed and emerging markets, helping to develop their business using his wide international network of contacts in the sector.

He has acted as lead counsel for numerous mining companies and financial advisers, advising on flotations on the London and Toronto stock exchanges, on secondary fundraises, public and private M&A, corporate governance, joint ventures and earn-ins. He is named as one of the four leading mining lawyers in England in the most recent International Who's Who of Mining Lawyers.

Sam Garrett, Chief Executive Officer

Sam is a geologist with over 30 years of exploration management, project assessment and operational experience working for large multi-national and junior mining and exploration companies in eleven countries, covering a broad range of geological environments. He is a specialist in copper and gold exploration with additional experience in iron ore, base metals and other specialist commodities. Highlights of his career include discovery and development credits for the Mt. Elliot Cu-Au mine (Qld), Dinkidi Cu-Au mine (Philippines), Tujuh Bukit Au-Ag-Cu mine (Indonesia) and the Havieron Au-Cu project (WA).

Sam is an executive director of ASX-listed Flynn Gold Ltd and he holds non-executive positions in various private, public and consulting resource companies. Sam holds a BSc. Hons. in Geology and a Master of Economic Geology degree, both from the University of Tasmania. He also holds a Master of Applied Finance degree from Macquarie University in Australia, where he is resident. He is a Member of the Australian Institute of Company Directors, the Australian Institute of Geoscientists and the Society of Economic Geologists.

Nick Briers, Non-exec Director

Nick has over 25 years of experience in financial markets heading up Exchange Traded Derivatives sales desks at a number of tier-one broking houses, most recently at Tullett Prebon, now TPICAP, the world's largest Inter Dealer Broker. Nick was formerly a Non-Executive Director of AMTE Power and is currently a Director of Corporate Broking at SI Capital.

Stuart Greene, Non-exec Director

Stuart is a geologist with sixteen years' experience working in southern Africa as a mine geologist and geological consultant with Western Areas gold mine, SRK Consulting, Knight Piesold, Venmyn Rand and others. Stuart is also a former Director of RMB Resources, the resource investment arm of First Rand Bank, where he spent 14 years as a mining financier with RMB Resources providing equity and debt finance to junior mining companies. He is currently a founding partner and Director of Tanjun Capital Limited, the investment advisor to a credit fund investing in junior and mid-tier mining companies.

Paul Williams, Chief Financial Officer

Paul was educated at Shrewsbury School and Clare College, Cambridge, where he read modern languages and economics. He qualified as a chartered accountant with his family firm before moving to Ernst and Young. He subsequently ran his own practice for 22 years before joining Maelor plc for its admission to AIM in 1997. Paul subsequently became finance director of Black Angel Mining plc (formerly Angus & Ross plc) before he took the role of executive chairman of the Eatonfield Group, leaving in 2010. He served on the LSE's AIM Advisory Group for a number of years and was a magistrate for 20 years.