PRESS RELEASE

Place: Headquarters of MTA Uluslararası Madencilik A.Ş. (MTA IC),

Ankara

Date: 1 March 2023

Today, MTA IC and CVMR announced that they have entered into a Memorandum of Understanding for a joint venture for future projects. Under this agreement CVMR will license its vapour metallurgy technology to MTA IC and work hand in hand with MTA IC to develop, mine and refine various critical metals, including gold and silver internationally.

The meeting and the signing ceremonies took place on the 9 th of February 2023, but out of respect for the people affected by the recent earthquake tragedy in Turkiye, this announcement was delayed.

Present at the signing ceremony were the following executives:

Mr. Murat Halit DURCEYLAN, General Manager of MTA IC;

Mr. Kamran M. Khozan, Chairman and CEO of CVMR Corporation;

Mr. Mehmet Bozdemir, General Manager of CVMR (Türkiye);

Mr. Bahadır Kalpakçı, Business Development Manager of MTA IC;

Mr. Cem Tekin, President of AGL Engineering, the Consultant of MTA IC;

Ms. Kiana (Zahra) Kianara, CVMR’s Public Relations Manager for the Middle East;