Tamar Minerals Plc - Loan Agreement

Tamar Minerals Plc - Loan Agreement

PR Newswire

LONDON, United Kingdom, May 23

Tamar Minerals plc

("Tamar" or the "Company")

Loan Agreement

Tamar Minerals, the exploration company primarily focused on tin and copper in the South West of England, has entered into a loan agreement amounting to £150,000 (the "Loan") with Godolphin Minerals Limited ("GML") in order to provide working capital to the Company. GML is a company owned by Mark Thompson (Chief Executive of the Company), and David Lilley and Henry Maxey, all of whom are major shareholders of Tamar and therefore regarded as related parties under the Rules of the Aquis Growth Market (the "Related Parties").

The Loan carries an interest rate of 12 per cent. and is repayable on 21 May 2026. The Loan may be repaid before this date without penalty.

The Directors of Tamar, excluding Mark Thompson who is a Related Party, having exercised reasonable care, skill and diligence, believe the entering into the Loan Agreement with the Related Parties is fair and reasonable as far as the shareholders of the Company are concerned.

Mark Thompson, CEO commented:

"The recent merger has gone very smoothly and we are putting in place our plans for the future. There is so much mining activity going on in Cornwall and Devon and we look forward to playing our role in it."

For further information, please contact:

Tamar Minerals plc020 3005 5000

Mark Thompson (Chief Executive)

VSA Capital Limited020 3005 5000

Aquis Corporate Adviser and Broker

Andrew Raca/Dylan Sadie (Corporate Finance)

Andrew Monk (Corporate Broking)