NEWS RELEASE

03 August 2016

HORIZONTE COMPLETES ACQUISITION OF GLENCORE PROJECT TO CREATE ONE OF LARGEST NICKEL SAPROLITE PROJECTS GLOBALLY

03 August 2016 - Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) ('Horizonte' or 'the Company') the nickel development company focused in Brazil, is pleased to announce the transfer to a wholly-owned subsidiary of the Company of the remaining two licences that make up the Glencore Araguaia nickel project ('GAP') in north central Brazil. This completes the licence transfer under the agreement ('Asset Purchase Agreement') to acquire GAP from Xstrata Brasil Exploraçâo Mineral Ltda ('Xstrata'), a wholly owned subsidiary of Glencore, as announced by the Company on 28 September 2015.

Highlights

• The closing of the transaction completes the consolidation of GAP and Horizonte's Araguaia Project creating one of the largest nickel saprolite projects globally

• The transfer includes the advanced Serra do Tapa nickel deposit

• Combined projects currently the focus for a new Pre-Feasibility Study due for completion in Q3 2016

Commenting on the closing of the transaction, Horizonte CEO Jeremy Martin said, "I am very pleased to announce the closing of the transaction with Glencore. The purchase of the GAP project and consolidation with our existing Araguaia project creates one of the highest grade saprolite nickel projects globally. We are in the final stages of completing a new Pre-Feasibility study on the combined project with the aim of demonstrating that Araguaia will sit on the lower end of the global cost curve and the upper end of the grade curve with low capital intensity. In short our aim is to develop one of the lower cost ferronickel operations with short capital repayment, while offering operational flexibility for increased nickel production in the future. Following the PFS, the next major milestone on the project will be the full Feasibility Study which is scheduled to commence later this year. This should run in parallel with an improvement in the global nickel markets, prices have increased over the last three months lifting from the multi-year lows seen in Q1 2016."

Background

Following the registration by the National Department of Mineral Production of Brazil ('DNPM') of the transfer of the outstanding GAP licences from Xstrata to a wholly- owned subsidiary of the Company and pursuant to the Asset Purchase Agreement, Horizonte has now completed the second and final allotment to Xstrata of Initial Consideration Shares.

Further to the above, the Company has issued and allotted 50,729,922 new Ordinary Shares to Xstrata, being the Consideration Shares equivalent in value to US$1,340,000. These closing Initial Consideration Shares were issued at a price of 1.99 pence (the 'Issue Price'). In accordance with the terms of the Asset Purchase Agreement the Issue Price was equal to the five day weighted average price per Ordinary Share on AIM, taken on the business day when the transfer of the remaining GAP licences was confirmed, and converted at a rate of exchange as set out in the Asset Purchase Agreement. This allocation of shares signifies the completion of the issuance of the Initial Consideration Shares to a total value of US$2,000,000. Initial Consideration Shares were previously issued under the Asset Purchase Agreement to the value of US$660,000 in November 2015 following transfer of the first GAP licence.

Admission

The issue of the new Ordinary Shares is being made from existing authorities granted to the Directors at the general meeting held on 25 November 2015. Accordingly, the issue and allotment of the new Ordinary Shares is not subject to shareholder approval.

Application has been made for the admission of the 50,729,922 new Ordinary Shares to trading on AIM and it is expected that such admission will take place on 8 August 2016 ('Admission'). The new Ordinary Shares will rank pari passu with the existing Horizonte Shares currently in issue. Following Admission, there will be 721,934,300 Horizonte Shares in issue.

The commercial terms of the Asset Purchase Agreement are as announced by the Company on 28 September 2015.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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For further information visit www.horizonteminerals.com or contact:

About Horizonte Minerals:

Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil, which wholly owns the advanced Araguaia nickel laterite project located to the south of the Carajas mineral district of northern Brazil. The Company is developing Araguaia as the next major nickel mine in Brazil, with targeted production by 2019.

The Project, which has good infrastructure in place including rail, road, water and power.

Horizonte has a strong shareholder structure including Teck Resources Limited 28.1%, Henderson Global Investors 17.0%.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION

Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the potential of the Company's current or future property mineral projects; the success of exploration and mining activities; cost and timing of future exploration, production and development; the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; and the realization of mineral resource and reserve estimates. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the

circumstances at the date that such statements are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: exploration and mining risks, competition from competitors with greater capital; the Company's lack of experience with respect to development-stage mining operations; fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements; exploration, mining and other licences; the Company's future payment obligations; potential disputes with respect to the Company's title to, and the area of, its mining concessions; the Company's dependence on its ability to obtain sufficient financing in the future; the Company's dependence on its relationships with third parties; the Company's joint ventures; the potential of currency fluctuations and political or economic instability in countries in which the Company operates; currency exchange fluctuations; the Company's ability to manage its growth effectively; the trading market for the ordinary shares of the Company; uncertainty with respect to the Company's plans to continue to develop its operations and new projects; the Company's dependence on key personnel; possible conflicts of interest of directors and officers of the Company, and various risks associated with the legal and regulatory framework within which the Company operates.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.