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URA Holdings plc

("URA" or the "Company")

Operational Update

URA Holdings (LSE: URAH), the gemstone mining company focused on the imminent production phase of the Gravelotte Emerald Mine ("GEM"), is pleased to announce the arrival of its optical sorter at the GEM mine in South Africa. This event marks an important step in the mine's transition to operational status.

The state-of-the-art optical sorter, manufactured by Angelon Electronics Co Ltd, and packaged and shipped, in two 40-foot containers, has successfully arrived at site and is currently being offloaded.  URA is collaborating closely with the technical team from Angelon who will travel to site to assist with the final assembly checks and commissioning of the optical sorter. Further updates will be provided as installation and commissioning proceeds.

Edward Nealon, Chairman of URA, commented: "We are pleased to announce that the optical sorter has arrived on site at the Gravelotte Mine in South Africa. Our team will now begin to assemble the optical sorter, its conveyor belts systems, bins and other components before commissioning. We believe we are now on track towards achieving first production within the next 2-3months."

Figure 1. First container with optical sorter and components arriving at site.

Figure 2. Lowbed trucks with containers getting ready for offloading at the processing and sorting facility.

Figure 3. Main sorter unit offloaded in front of processing and sorting facility.

The Directors of the Company take responsibility for this announcement.

Enquiries:

About URA Holdings Plc

URA Holdings Plc is focusing on restarting the Gravelotte Emerald Mine, also known as the Cobra Emerald Mine, located in the Limpopo Province of South Africa.

Below is a summary highlighting its key aspects:

Historical Significance and Production:

Operational History: Active from 1929 to 2002, historically one of the world's largest emerald mines.

Historical Production: Produced nearly 113 million carats of emeralds, making a substantial contribution to the global emerald market.

Resource Estimates and Potential:

Maiden Mineral JORC Resource Estimate: URA Holdings established an independent JORC Resource estimate of 29 million carats of contained emerald in two open-pit deposits.

Additional JORC Exploration Targets: Identified 12 exploration targets, with potential ranging between 168 million and 344 million carats.

Current Status and Plans:

Infrastructure and Readiness: The mine comes with existing infrastructure, recently refurbished and upgraded in preparation for the restart of mining operations.

Strategic Plans: URA aims to restart mining operations, utilizing modern technologies and practices during H1 2024.

Market and Economic Considerations:

Global Emerald Market: Steady growth in demand for luxury goods, including high-quality gemstones.

Demand: Increased interest in coloured gemstones, including emeralds and sustainable, ethically sourced minerals.

For more information about URA Holdings Plc, including investor relations and corporate news, please visit our website at www.uraholdingsplc.co.uk or follow us through our social media channel:

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