Anglo Pacific Group PLC (the 'Group' or 'Anglo Pacific') (LSE: APF, TSX: APY) notes the press release issued by OZ Minerals earlier announcing that it has made a Final Investment Decision on the West Musgrave copper-nickel project in Australia. Anglo Pacific has a 2.0% net smelter royalty interest over the West Musgrave project.

The highlights of the announcement were:

First production targeted for H2 2025

Processing capacity increased from 12.0 Mtpa to 13.5 Mtpa through mine planning and plant optimisation

Average annual production ~35,000 tpa nickel, ~41,000 tpa copper in the first five years. Average annual production ~28,000 tpa nickel and ~35,000 tpa copper over a 24-year operating life1

Bottom quartile C1 cost of ~ US$0.50/lb (Ni payable net of by-product credit) and ~US$(1.10)/lb (Cu payable net of by-product credit)

One of the largest fully off-grid, hybrid renewable powered mines in the world with an initial ~80% renewable power contribution2

Marc Bishop Lafleche, CEO of Anglo Pacific Group commented:

'West Musgrave is everything we look for in a royalty acquisition, a high quality project and operator in a recognised mining jurisdiction with strong sustainability credentials. We are delighted to see OZ Minerals continue to progress the project in-line with the expected timetable.'

1. These production targets must be read in conjunction with the Production Targets Cautionary Statement on page 6 of the OZ Minerals announcement

2. ~80% renewable energy penetration relates to power generation. Does not include mining fleet

Contact:

Anglo Pacific Group PLC

T: +44 (0) 20 3435 7400

Marc Bishop Lafleche

Chief Executive Officer

Kevin Flynn

Chief Financial Officer

Geoff Callow

Head of Investor Relations

Website: www.anglopacificgroup.com

Berenberg

T: +44 (0) 20 3207 7800

Matthew Armitt

Jennifer Lee

Detlir Elezi

Peel Hunt LLP

T: +44 (0) 20 7418 8900

Ross Allister

David McKeown

RBC Capital Markets

T: +44 (0) 20 7653 4000

Farid Dadashev

James Agnew

Jamil Miah

Capital Market Communications Limited

T: +44 (0)20 3757 4997

Gordon Poole

Owen Roberts

Elfie Kent

About the Group

Anglo Pacific Group PLC is a global natural resources royalty and streaming company. The Group's strategy is to become a leading natural resources company through investing in high quality projects in preferred jurisdictions with trusted counterparties, underpinned by strong ESG principles. It is a continuing policy of the Group to pay a substantial portion of these royalties and streams to shareholders as dividends.

(C) 2022 Electronic News Publishing, source ENP Newswire