W Resources PLC - Issue of Equity

7 December 2020

W Resources Plc

("W" or the "Company")

Atlas Conversion Notice

W Resources Plc (AIM:WRES), the tungsten, tin and gold mining and exploration company with assets in Spain and Portugal, has received a conversion notice from Atlas Capital Markets for £100,000 of Convertible Bonds plus interest relating to August to November 2020, being the second conversion notice in respect of the first £500k tranche drawn from the £4m facility that was first announced on 30 March 2020.

W will issue 96,300,548 ordinary shares of 0.1p per share ("Ordinary Shares") at a conversion price of 0.1111p per Ordinary Share.

Application has been made for the admission of the 96,300,548 Ordinary Shares to trading on AIM ("Admission"). Following Admission, which is expected on or around 10 December 2020, the Company's enlarged issued share capital will comprise 7,269,220,952 Ordinary Shares with voting rights. The Company has no shares held in Treasury. This figure of 7,269,220,952 Ordinary Shares 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 in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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