Asiamet Resources Limited announced a further update in relation to the Company's wholly owned, development stage, BKM copper project located in Central Kalimantan, Indonesia ("BKM" or the "BKM Copper Project"). Early EPC Engagement: Asiamet has engages project execution partners for engineering, procurement, and construction, optimising project integration and cost estimation accuracy. Specific focus on critical path project engineering activities.

Execution Partners Appointed: PT Rexline Engineering Indonesia selected for comprehensive engineering design covering materials handling and non-process related infrastructure elements, ensuring continuity and cost efficiency. Beijing Research Institute of Mining and Metallurgy engaged for process infrastructure engineering, leveraging expertise from prior successful collaboration. Further contractor Engagement and Project Management: engagement progressing with contractor for site earthworks, pre-production development, and mining services, prioritising early engagement for cohesive project execution.

Partnerships to strengthen project management capabilities, enhancing efficiency in scheduling, cost estimation, and planning. Engineering Design & Development Strategy As previously indicated, in response to feedback from the Independent Technical Expert (ITE) review of the 2023 Feasibility Study ("2023 FS") as part of the debt financing process, the Company has refined its approach to delivering engineering design, procurement and construction and implemented a strategy of engaging partners early to deliver engineering design, procurement and construction across various scopes of work for the BKM Project. This approach enables improved integration of project execution disciplines and an expected increase in accuracy with respect to project capex estimation.

The Company has chosen the following preferred execution partners for delivery of the BKM Project - the work areas referenced cover the entire site-based scope of work: PT Rexline Engineering Indonesia ("Rexline") Rexline will complete engineering design of the crushing and ore handling system and non-process infrastructure such as the main accommodation camp, site offices, workshop and warehouses. Rexline have significant experience in delivering design and construction of this type of infrastructure in the Central Kalimantan coal industry. Rexline will provide cost estimation for all construction execution excluding scope related to project bulk earthworks, mine operations infrastructure development and pre-production mine operations.ijing Research Institute of Mining and Metallurgical ("BGRIMM") BGRIMM will deliver engineering for the Solvent Extraction, Electrowinning, Water Treatment ("SX-EW") and Reagent Preparation process infrastructure.

This strategy differs from the 2023 FS, in that separate contractors were engaged to provide quotes for the cost of project earthworks and mining operations. The Company is committing to an integrated approach of project and operations earthworks to leverage the use of common mobile equipment fleet. Further details of this contractor engagement will be provided as they become available.

The Company is engaging with suitable partners capable of providing project management support updating key project execution deliverables such as project schedule, capex estimate and project execution planning. BKM Copper Project Optimisation An improved heap leach facility location has been proposed and detailed modelling of a new facility layout is underway through engagement of Chilean expert heap leach design group Minera and Servicos (M&S). The outcome of this work will be communicated in second quarter 2024.

Optimisation of engineering resources and costs, along with low-cost equipment and materials sourcing will be realised through the aforementioned project partner engagement strategy.