Sovereign Metals Limited (Sovereign or the Company) (ASX:SVM, AIM:SVML) advises that it has issued 1,560,000 Performance Rights to key employees and consultants as follows:

·      740,000 performance rights subject to the “Pre-Feasibility Study Milestone” expiring on 30 September 2023; and

·      820,000 performance rights subject to the “Feasibility Study Mine Milestone” expiring on 31 October 2025.

Following the issue of these Performance Rights, Sovereign has the following securities on issue:

·      470,875,023 ordinary fully paid shares;

·      11,105,125 unlisted options exercisable at A$0.80 each on or before 13 May 2023;

·      6,100,000 unlisted performance rights subject to the “Pre-Feasibility Study Milestone” expiring on 30 September 2023; and

·      8,260,000 unlisted performance rights subject to the “Feasibility Study Milestone” expiring on 31 October 2025.

ENQUIRIES

Dylan Browne
Company Secretary

+61(8) 9322 6322

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