Forward looking statements are provided as a general guide only and should not be relied on as an indication or guarantee of future performance. Forward looking statements involve inherent risks and uncertainties, both general and specific, and there is a risk that such predictions, forecasts, projections and other forward-looking statements will not be achieved. Indications of, and guidance on, future earnings or financial position or performance are also forward-looking statements. Forward looking statements can generally be identified by the use of forward-looking words such as 'expect', 'anticipate', 'likely', 'intend', 'should', 'could', 'may', 'predict', 'plan', 'propose', 'will', 'believe', 'forecast', 'estimate', 'target' and other similar expressions within the meaning of securities laws of applicable jurisdictions. This announcement contains certain forward-looking statements and comments about future events, including the Company's expectations about the Manono Project and the performance of its businesses. This announcement was authorised for release by the Board of Directors of AVZ Minerals Limited. The Company is seeking further advice on the matter and is in the process of engaging cyber security experts to investigate and advise the Company. The Company did not provide, nor did it authorise the provision of, the source materials or any of their content to the AFR (or to anyone outside of the Company or its advisors). It is not clear how the source materials came into the AFR's hands. The source materials are and always have been strictly confidential and legally privileged. ASX ANNOUNCEMENT 10 February 2023 AVZ Minerals Limited Level 2, 1 Walker Avenue West Perth, WA 6005 Australia T: + 61 8 6117 9397 F: + 61 8 6118 2106 E: W: ABN 81 125 176 703 Directors Non-Executive Chairman: John Clarke Managing Director: Nigel Ferguson Technical Director: Graeme Johnston Non-Executive Director: Rhett Brans ASX Code: AVZ OTC Code: AZZVF 2 | P a g e The AFR's two articles of 8 February 2023 appear to be based, in part, on legal advice and a report or draft report prepared for the Company's lawyers (together, source materials). Among other things, the agreement requires Mr Mihigo and his team to comply with (just as the Company complies with) all applicable anti-bribery and anti-corruption laws and the Company's anti-bribery and anti-corruption policy (which can be viewed at ). Before and during Mr Mihigo's engagement, AVZ has carried out appropriate independent due diligence into Mr Mihigo, which disclosed no material probity issues or red flags. The agreement does not provide for any success fee. Disbursements for travel and incidental costs must not exceed USD 5,000 without prior approval from AVZ. Under the agreement, Mr Mihigo and his team are remunerated only from an upfront fee of USD 1 million for their services pursuant to hourly rates, together with reimbursement for disbursements for travel costs, accommodation and food (within a specified range) and other costs incidental to the services. The terms of Mr Mihigo's engagement are recorded in a written agreement. AVZ engaged Marius Mihigo as an in-country Strategic Advisor whom together with his team has assisted with: advising on conducting business in the DRC * managing Government and key stakeholder relationships in country and * security arrangements within the DRC. Separately, AVZ is aware of two newspaper articles published by the Australian Financial Review on 8 February 2023 containing inaccurate or incomplete information and provides the following by way of clarification. The Company confirms it intends to continue its voluntary suspension until such time that it has a resolution and clarity on its mining and exploration rights for the Manono Project. AVZ Minerals Limited (ASX: AVZ, OTC: AZZVF) ('AVZ' or 'Company') refers to its request for an extension of its voluntary suspension dated 31 January 2023 and its announcement dated 6 February 2023 of the issue of two new Ministerial Decrees in relation to the Manono Lithium and Tin Project ( Manono Project).
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