GROUP OF CHAARAT GOLD NOTEHOLDERS RESPOND TO REDEMPTION PROPOSAL

LONDON, Feb. 3, 2026 /PRNewswire/ — A group of holders (the “Group“) of the Senior Secured Convertible Loan Notes due 2028 (the “Notes“) issued by Chaarat Gold Holdings Limited (“Chaarat Gold“) responds to the notice from Chaarat Gold that it intends to redeem the Notes in full on 13 February 2026 from the proceeds of sale of its equity interest in Zaav Holdings Ltd to SilverCorp Metals, Inc (the “Sale“).

The Group is supportive in principle of any legitimate transaction that results in timely repayment of the Notes (and realisation of value for Chaarat Gold’s shareholders once the Notes have been repaid).

However, for holders of the Notes to properly evaluate Chaarat Gold’s redemption proposal, the Group considers it essential that certain basic information in relation to the Notes is made available to all holders of the Notes.

To this end, a member of the Group has written to Chaarat Gold requesting this information and raising a number of queries (including in relation to the use of Sale proceeds and level of transaction fees in relation to the Sale). To date, Chaarat Gold has refused to provide any information until the parties sign a non-disclosure agreement (NDA) which imposes confidentiality undertakings for as long as 5 years (notwithstanding that Chaarat Gold intends to redeem the Notes in less than two weeks’ time).

The Group therefore publicly urges Chaarat Gold to urgently make available:

–  The following basic information in relation to the Notes to all holders of the Notes without the need to sign any NDA:

• a copy of the currently in-force Notes instrument; and
• a calculation showing the accrued interest on the Notes at the proposed redemption date.

–  A pro forma NDA that holders of the Notes can sign if they wish to request any further information from Chaarat Gold (to ensure that all holders of the Notes are signing up to the same confidentiality terms).

The Group is advised by the law firm, Cleary Gottlieb Steen & Hamilton LLP. Any holders with queries that they wish to raise with the Group should contact Cleary Gottlieb Steen & Hamilton LLP at chaarat@cgsh.com.

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