Horizonte Minerals PLC Announces Result of GM & Equity Fundraise Update

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES OR JAPAN.

LONDON, December 20, 2021 - Horizonte (AIM:HZM)(TSX:HZM), announces that all resolutions proposed at its General Meeting, held earlier today, were duly passed. A breakdown of the poll result for each resolution is set out below:

Equity Fundraise Update

Following the General Meeting, and Open Offer announcement earlier today, a total of 2,102,209,850 new Ordinary Shares in the capital of the Company have been placed with, or subscribed for by, new and existing investors at the Issue Price. On settlement, the Equity Fundraise will raise gross proceeds of approximately £147 million (approximately US$197 million) for the Company before expenses consisting of:

· 610,123,712 new Ordinary Shares pursuant to the UK Placing, raising gross proceeds of approximately £42.7 million (approximately US$57.1 million) representing 4,000,000 more Ordinary Shares than previously announced by the Company on 24 November 2021 as such shares will be placed under the UK Placing rather than the Canadian Offering;

· 122,072,398 new Ordinary Shares pursuant to the Canadian Offering, raising gross proceeds of approximately £8.5 million (approximately US$11.4 million), representing 4,000,000 less Ordinary Shares than previously announced by the Company on 24 November 2021 and set forth in the Canadian Prospectus (as defined below) as such shares will be placed under the UK Placing;

· 74,738,416 new Ordinary Shares pursuant to the Glencore Subscription, raising gross proceeds of approximately £5.2 million (approximately US$7 million);

· 533,845,825 new Ordinary Shares pursuant to the Orion Subscription, raising gross proceeds of approximately £37.4 million (approximately US$50 million);

· 759,128,764 new Ordinary Shares pursuant to the La Mancha Subscription, raising gross proceeds of approximately £53.1 million (approximately US$71 million); and

· 2,300,735 new Ordinary Shares pursuant to the Open Offer, raising gross proceeds of approximately £0.16 million (approximately US$0.22 million).

The new Ordinary Shares to be issued in aggregate pursuant to the Equity Fundraise represent 123.6 per cent. of the issued share capital of the Company prior to the Equity Fundraise. Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the announcement of the Equity Fundraising made by the Company on 23 November 2021.

Incorporated by Reference

This announcement is incorporated by reference in, and forms a part of, the prospectus supplement of the Company dated November 24, 2021 to the base shelf prospectus of the Company dated October 29, 2021, filed in each of the territories and provinces of Canada, other than Quebec (the "Canadian Prospectus").

About Horizonte Minerals:

Horizonte Minerals Plc is an AIM and TSX-listed nickel development company focused in Brazil. The Company is developing the Araguaia project, as the next major ferronickel mine in Brazil, and the Vermelho nickel-cobalt project, with the aim of being able to supply nickel and cobalt to the EV battery market. Both projects are 100% owned.

For further information, visit www.horizonteminerals.com or contact:

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

Cautionary Statements Regarding Forward-Looking Information

This announcement contains "forward-looking information" including as that term is defined under applicable Canadian securities legislation. Such information includes but is not limited to, the closing of the Equity Fundraise; and the receipt of required approvals, including the approval of the TSX. Generally, forwardlooking information can be identified by the use of words such as "plans", "expects" or "is expected", "scheduled", "estimates" "intends", "anticipates", "believes", or variations of such words and phrases, or statements that certain actions, events or results "can", "may", "could", "would", "should", "might" or "will", occur or be achieved, or the negative connotations thereof. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such information. These risks include, without limitation, risks related to AIM Admission and the approval of the TSX and other applicable securities regulatory authorities, a failure to obtain adequate financing on a timely basis and on acceptable terms, political and regulatory risks associated with mining and exploration activities, including environmental regulation, risks and uncertainties relating to the interpretation of drill and sample results, risks related to the uncertainty of cost and time estimation and the potential for unexpected delays, costs and expenses, risks related to metal price fluctuations, the market for nickel and cobalt products, other risks and uncertainties related to the Company's prospects, properties and business as well as those risk factors discussed or referred to herein and in the Company's disclosure record, including in its annual information form for the year ended December 31, 2020 filed with the securities regulatory authorities in all territories and provinces of Canada, other than Quebec, and available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates, assumptions or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking information. The information in this announcement is subject to change.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Horizonte Minerals Plc