Aterian PLC - Rwanda Exploration Update

Aterian plc is pleased to announce that its subsidiary, Eastinco Limited, has been invited to negotiate terms for a larger mineral exploration license in Rwanda's Musasa project area. Furthermore, Eastinco will acquire the 15% minority partner interest in the project from Kuaka Cooperative and has terminated its joint venture agreement with Dynasty Construction. The Government of Rwanda has partnered with Rio Tinto for mineral exploration activities in Rwanda, enhancing the company’s operations.

The Musasa license area has significant mineral potential, particularly for lithium, tantalum, niobium, tungsten, and tin. This development aligns with our commitment to sustainable economic growth. Eastinco will now focus on advancing exploration efforts and finalizing the terms of the exploration agreement with RMB.