THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED WHICH, BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, FORMS PART OF UK LAW. ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Imara Gold Plc

("Imara Gold" or the "Company")

Board Changes

The Company announces that it has today accepted the resignations of Mr. Jason Brewer, Mr. Simon Grant-Rennick, Mrs. Noreen Kidunduhu, Mr. Edward Ruheni, Mrs. Hannah Wang'ombe, Mr. Kevin Warrington and Mr. Martin Westerman with immediate effect, in order to facilitate a proposed refinancing and a planned re-listing of the Company.

Mr. Stefan Muller is remaining as director and would like to thank each of the departing directors for their contribution to the Company and wish them well in the future.

The Company expects to appoint new directors in the very near future.

Discussions in relation to the proposed refinancing and other operational related activities in the United Kingdom and Kenya remain ongoing. Shareholders should note that there can be no guarantee that the proposed refinancing will be completed on acceptable terms, or at all. The Board nevertheless considers that pursuing the proposed refinancing is in the best interests of the Company and its shareholders.

The Company will provide further updates to shareholders as negotiations progress.

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For further information visit www.caracalgold.com or contact the following: