ACCELERATE RESOURCES LIMITED — Regulatory Filings 2018

Aug 29, 2018

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Drilling Starts – Testing Nickel-Cobalt potential in

a 300m long conductor

HIGHLIGHTS

• Young Henry Ni-Co drilling targets 300m long FLEM plate with associated Nickel Cobalt gossans and soil geochemistry.

• Diamond hole YHDD001 has a target depth of 200m.

• Adjacent Henrietta target includes 1.4km VTEM Anomaly with surface samples returning cobalt grades up to 0.14%. (12[th] February 2018 ASX Release: Prospectus).

• Thomas Creek drilling results due imminently.

Accelerate Resources Limited (“Accelerate” or “the Company”) is pleased to announce that Diamond Drilling has commenced at the Young Henry Nickel-Cobalt Prospect and is currently at a depth of 50m, with a planned depth of 200m.

The hole is designed to test a 300m long, SSW plunging electromagnetic (FLEM) conductor which sits below gossanous soil samples anomalous in Ni, Co, Cu and Zn and has the potential to indicate an accumulation of sulphides.

The fixed loop electromagnetic (FLEM) survey aimed to further define a previously identified 300m long airborne VTEM conductor near the northern end of a belt of fault bounded mafic-ultramafic rocks. The survey comprised a 300m x 300m loop with EM readings conducted on 75m spaced lines. (See ASX Announcements dated 16[th] and 20[th] Aug 2018).

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Photo 1: YHDD001 drill rig on site

Figure1: Young Henry and Henrietta Prospect Locations

Next Steps

Update of drilling results at Thomas Creek Copper Cobalt target. Field exploration of the Henrietta Nickel Cobalt target adjacent to Young Henry.

—ENDS—

For further information please contact

Yaxi Zhan

Managing Director

E: Yaxiz@AX8.com.au I P: +61 8 9324 2072 I W: www.AX8.com.au Competent Person Statement:

Information in this release that relates to Exploration Results is based on information compiled by Mr Andrew Rust, who is the Exploration Manager for Accelerate Resources Limited and who is a Member of the Australian Institute of Mining and Metallurgy (AusIMM). Mr Rust has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Rust consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.

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Forward Looking Statements

Statements contained in this release, particularly those regarding possible or assumed future performance, costs, dividends, production levels or rates, prices, resources, reserves or potential growth of Accelerate Resources Limited, are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.

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