Alba Mineral Resources Regulatory News (ALBA)

18 August 2016

Alba Mineral Resources plc

("Alba" or "the Company")

Share allotments in settlement of fees

Issue of share warrants

Alba Mineral Resources plc (AIM: ALBA), the UK-based exploration company, announces that it is issuing 16,059,957 fully paid ordinary shares to CEO Michael Nott, and 16,059,957 fully paid ordinary shares to Chairman George Frangeskides, or to their respective nominees, in settlement of accrued fees of £30,000 owed to each of them. 20 million share warrants (exercise price 0.3p per share, expiring 27 March 2021) have also been awarded to each of Messrs Nott and Frangeskides pursuant to the Company's incentive plan.

In addition, the following share warrants have been awarded to Non-Executive Director Manuel Lamboley: 2.5m share warrants at an exercise price of 0.3p per share with an expiration date of 27 March 2021 vesting 7 September 2016 (being 6 months after the commencement date of his appointment) and a further 2.5m share warrants at an exercise price of 0.3p per share with an expiration date of 27 March 2021 vesting 7 March 2017 (being 12 months after his commencement date) provided he remains a director and is not serving any period of notice of termination of his appointment at each vesting date.

The Company has also agreed to settle certain fees owed to consultants by the issue of 7,815,845 fully paid ordinary shares, and to grant a total of 6 million share warrants (exercise price 0.3p per share, expiring 27 March 2021) to certain advisers and consultants of the Company, subject in certain cases to vesting conditions. All the foregoing share issues have been calculated on the basis of a 30 day volume weighted average price for Alba ordinary shares up to the close of trading on 17 August 2016.

Admission to AIM

Application will be made for the new ordinary shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective at 8.00 a.m. on 24 August 2016. The new ordinary shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after Admission and will otherwise rank on Admission pari passu in all respects with the existing ordinary shares.

Total Voting Rights

Following Admission, the total number of ordinary shares in issue will be 1,326,725,690. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares with voting rights will be 1,326,725,690. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

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About Alba

Alba holds a 15 per cent interest in Horse Hill Developments Limited, the company which has a 65 per cent participating interest and operatorship of the Horse Hill oil and gas project (licences PEDL 137 and PEDL 246) in the UK Weald Basin.

Alba also has exercised an option to farm into 5% of Production Licence 235, which comprises the producing onshore Brockham Oil Field.

Alba has the right to earn up to 70 per cent of the Amitsoq Graphite Project in Southern Greenland.

In addition, the Company has recently renewed its base metal and gold licence in the Republic of Ireland, and has applied for the reissue of a uranium permit in northern Mauritania. The new Mauritanian permit will be on a reduced area, and is centred on known uranium-bearing showings.

Alba continues actively to review and discuss other project opportunities which have value enhancing potential for the Company whether by acquisition, farm in or joint venture in a range of jurisdictions around the world.