Mila Resources PLC
12 August 2026
Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources
12 August 2026
Mila Resources Plc
("Mila" or the "Company")
Mila moves to 100% Ownership in Queensland
Mila Resources Plc (LSE: MILA), the post-discovery gold and copper resource development company focused on Australia, is pleased to announce that in accordance with the announcement of 31 October 2024, it has now completed the exercise of the EMX Option Agreement ("EMX Option Agreement") with EMX Royalty Corp ("EMX") (and subsequently became Elemental Royalty Corporation) following compliance and regulatory approvals in Australia.
As a result, Mila is now the 100% owner of three project areas in Queensland, Australia: Yarrol (EPM8402, EPM27561, EPM28230 and EPM28658), Mount Steadman (EPM12834 and EPM27750) and Mount Weary, which encompasses the Monal Gold-Copper Project (EPM26317 and EPM27252) (collectively the "Exploration Portfolio" shown in Figure 1).
In accordance with the terms of the EMX Option Agreement, the Company shall issue EMX with 7,096,774 new ordinary shares being £110,000 of new Mila ordinary shares ("Option Fee Shares") valued by reference to the volume weighted average price of the Company's listed shares during thirty consecutive trading days ending on 30 October 2025 ("30 Day VWAP") of 1.55 pence per share.
The Option Fee Shares issued to EMX are subject to a lock up for twelve months from the date of admission to trading.
Admission and Total Voting Rights
An application has been made for the Option Fee Shares to be admitted to trading on the Official List and the London Stock Exchange with effect from 8.00 a.m. on 17 August 2026 ("Admission").
In accordance with the FCA's Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company's enlarged issued ordinary share capital will comprise 744,657,696 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA's Disclosure Guidance and Transparency Rules.
Mark Stephenson, Executive Chairman commented:
"We are delighted to have 100% ownership of the Yarrol, Mount Steadman and Mount Weary exploration portfolio in Queensland and we have also now set up our subsidiary in Australia.
"This is an important milestone for Mila, providing the Company with full ownership and control of a highly prospective portfolio of gold and copper exploration assets. We are very busy pulling together our next phase of work at Yarrol with drilling imminent and our regional work continues to deliver further evidence of high-quality targets. We'll be entering a highly active period in the forthcoming months and look forward to sharing that with the shareholders."
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Figure 1: Exploration Portfolio - Queensland, Australia
**ENDS**
For more information visit www.milaresources.com or contact:
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Mark Stephenson Mila Resources Plc |
info@milaresources.com |
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Jonathan Evans Tavira Financial Limited |
+44 (0) 20 7100 5100 |
|
Nick Emerson SI Capital |
+44 (0) 20 3143 0600 |
|
Damon Heath Shard Capital Partners LLP |
+44 (0) 20 3971 7000 |
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Susie Geliher St Brides Partners Ltd |
+44 (0) 20 7236 1177 |
ABOUT MILA RESOURCES
Mila Resources Plc (LSE: MILA) resource developer focussed on advancing a portfolio of gold and copper interests in Australia. The most advanced is the Yarrol Gold Project, which is moving towards an initial Mineral Resource Estimate, alongside the systematic advancement of exploration targets across its broader Queensland licence portfolio, including the Monal West porphyry corridor.
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