Horizonte Minerals PLC Announces Completion of Fundraise

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

LONDON, December 22, 2021 - Horizonte (AIM:HZM)(TSX:HZM), is pleased to announce the completion of the Equity Fundraise announced on 23 November 2021 following admission to AIM and the TSX. In addition to the Equity Fundraise, which includes the UK Placing, Canadian Offering, Orion Strategic Investment and La Mancha Strategic Investment, the Company is also pleased to confirm closing of the Glencore Subscription and the Open Offer. The Company has issued a total of 2,102,209,850 Ordinary Shares raising gross proceeds of approximately £147.2 million.

The Company intends to use the net proceeds for the construction of the Araguaia Project, as well as for general working capital purposes.

The Canadian Offering was conducted pursuant to the prospectus supplement of the Company dated 24 November 2021 to the base shelf prospectus of the Company dated 29 October 2021, filed in each of the territories and provinces of Canada, other than Quebec.

The UK Placing was conducted by BMO Capital Markets Limited and Peel Hunt LLP, acting as joint global coordinators and together with H & P Advisory Limited, acting as the joint bookrunners, and the Canadian Offering was conducted by BMO Nesbitt Burns Inc. and Paradigm Capital Inc. acting as joint global coordinators and joint bookrunners, together with Cormark Securities Inc. and Cantor Fitzgerald Canada Corporation acting as Canadian co-agents.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the announcement of the Equity Fundraise made by the Company on 23 November 2021.

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This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America.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 proposed use of proceeds. Generally, forward looking 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, discretion of the Company with respect to the use of proceeds, 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.

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SOURCE: Horizonte Minerals Plc