LONDON - Horizonte (AIM: HZM) (TSX: HZM), announces that, further to the announcement made on 23 November 2021 (the 'Equity Fundraise Announcement') in relation to the proposed fundraise of approximately US$197 million and the proposed admission of the Company's enlarged share capital to AIM and the Toronto Stock Exchange, a shareholder circular relating to the Equity Fundraise will be published today and will be filed on the Company's profile on SEDAR and mailed to shareholders on or before 29 November 2021.

The Company has applied to list the New Ordinary Shares on the TSX and application will be made for the New Ordinary Shares to also be admitted to trading on AIM. Listing will be subject to approval by the TSX and the Company fulfilling all of the requirements of the TSX. It is expected that TSX and AIM Admission will become effective on or around 22 December 2021.

The Circular contains details of the Open Offer which provides existing holders of ordinary shares in the Company whose names appear on the register of members of the Company on a specified record date (the 'Qualifying Shareholders') with the opportunity to subscribe for Open Offer Shares on the basis of 1 Open Offer Share for every 20 Ordinary Shares held on the Record Date, at the Issue Price.

The Company advises shareholders that there is a typographical error on page 36 of the Circular concerning the timing for applications under the Open Offer. Shareholders (in particular Qualifying CREST Shareholders) should note that in order for an application under the Open Offer to be valid the USE instruction must comply with the requirements as to authentication and contents set out in the Circular and must settle on or before 11.00 a.m. on 17 December 2021, and not 8:00 a.m. on 22 December 2021 as stated on page 36.

Contact:

Jeremy Martin

Tel: +44 (0) 203 356 2901

Email: info@horizonteminerals.com

Cautionary Statements Regarding Forward-Looking Information

This Announcement contains 'forward-looking information' including as that term is defined under applicable Canadian securities legislation. Such information includes but is not limited to, the intended use of proceeds, the launch and closing of the anticipated Bookbuild and the receipt of required approvals, including the approval of the shareholders of the Company and the TSX. Generally, forward-looking information can be identified by the use of words such as 'plans', 'expects' or 'is expected', 'scheduled', 'estimates' 'intends', 'anticipates', 'believes', or variations of such words and phrases, or statements that certain actions, events or results 'can', 'may', 'could', 'would', 'should', 'might' or 'will', occur or be achieved, or the negative connotations thereof. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such information. These risks include, without limitation, risks related to AIM Admission and the approval of the TSX and other applicable securities regulatory authorities, a failure to obtain adequate financing on a timely basis and on acceptable terms, political and regulatory risks associated with mining and exploration activities, including environmental regulation, risks and uncertainties relating to the interpretation of drill and sample results, risks related to the uncertainty of cost and time estimation and the potential for unexpected delays, costs and expenses, risks related to metal price fluctuations, the market for nickel and cobalt products, other risks and uncertainties related to the Company's prospects, properties and business as well as those risk factors discussed or referred to herein and in the Company's disclosure record, including in its annual information form for the year ended December 31, 2020 filed with the securities regulatory authorities in all territories and provinces of Canada, other than Quebec, and available at www.sedar.com.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates, assumptions or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking information. The information in this Announcement is subject to change.

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