Early Warning Press Release – BH Diamonds Announces Completion of Acquisition of Common Shares of Lipari Mining Ltd.

Toronto, Ontario–(Newsfile Corp. – December 24, 2025) – Lipari Mining Ltd. (Cboe Canada: LML) (“LML” or, the “Issuer“): This press release is being disseminated by BH Diamonds ME DMCC (“BH Diamonds“) to announce the completion of an acquisition by BH Diamonds of 16,071,720 common shares in the capital of the Issuer from two entities affiliated with BH Diamonds, Aftergut N & Zonen BVBA (1,584,672 common shares) and Lipari Holding BV (14,487,048 common shares). Each of the vendors was previously noted on the previous early warning report filed by BH Diamonds, as being joint actors. The common shares were acquired by way of private agreement at a price of $0.30 per share for total consideration of $4,821,516.

As a result of the completion of the transactions BH Diamonds now holds 59,398,126 Common Shares which represents approximately 40.4% of the issued and outstanding Common Shares as calculated in accordance with National Instrument 62-104 Take-Over Bids and Insider Bids (“NI 62-104“). Prior to completion of the transaction BH Diamonds held 43,326,406 common shares of the Issuer which represented approximately 29.5% of the issued and outstanding Common Shares as calculated in accordance with NI 62-104. BH Diamonds has a long-term view of its investment in the Issuer. BH Diamonds’ view of the Issuer and its investment therein may change, depending on market and other conditions, or as future circumstances may dictate, from time to time. BH Diamonds may increase or dispose of some or all of its ownership in the Issuer or each may continue to hold its current position. The head office of BH Diamonds is located at Almas Towers, 19E, Jumeirah Lakes Towers, Dubai, United Arab Emirates.

In the event that certain outstanding common share purchase warrants of LML (the “LML Warrants“) are exercised by the holders thereof, BH Diamonds has a right to purchase from treasury, a number of Common Shares that will prevent its percentage ownership of the Issuer from being diluted as a result of the exercise of LML Warrants. Any such purchase would be at a price which is no less than 80% of the market price of the common shares of LML at the time the LML applies for price reservation in respect of such issuance (being the maximum discount permitted by the Cboe Exchange). No right to acquire common shares will arise unless and until LML Warrants are exercised by a holder thereof.

An early warning report will be filed pursuant to applicable Canadian securities laws. Copies of the early warning report filed will be available on the Issuer’s SEDAR+ (www.sedarplus.ca) profile.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279030