ACCELERATE RESOURCES LIMITED — Share Issue/Capital Change 2021

Apr 8, 2021

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Company Announcements Office, ASX Limited

By E-Lodgement

Cancellation and Expiry of Unquoted Options

Accelerate Resources Limited (ASX: AX8) (“Accelerate” or “the Company”) advises the cancellation of 1,500,000 unvested unquoted options which had been issued under its Employee Securities Incentive Plan.

The Company also advises that 10,000,000 unquoted options exercisable at $0.25 per option, are due to expire on 30 April 2021.

The Company’s capital structure following the cancellation is as follows:

ASX security code and description	Total number ofquotedsecurities
	on issue
AX8 ordinary fully paid	156,847,794
	(125,000 AX8 fully paid ordinary
	shares escrowed until 27 May 2021)
	(4,000,000 AX8 fully paid ordinary
	shares escrowed until 31 August
	2021)
ASX security code and description	Total number ofunquotedsecurities
	on issue
AX8AG Option expiring 30-Apr-2021,	6,000,000
exercisable at $0.25 per option
AX8AH Option expiring 14-Feb-2022,	5,000,000
exercisable at $0.25 per option

ASX security code and description_(continued)_	Total number ofunquotedsecuritieson issue_(continued)_
AX8AI Option expiring 30-Apr-2021,exercisable at $0.25 per optionAX8AJ Option expiring 9-June-2023,exercisable at $0.06 per optionAX8AL Option expiring 2-Sept-2023,exercisable at $0.06 per optionAX8AM Option expiring 27-Nov-2022,exercisable at $0.0959 per optionAX8AN Option expiring 27-Nov-2024,exercisable at $0.0957 per optionAX8AO Option expiring 27-Nov-2022,exercisable at $0.0957 per option	4,000,0005,000,0005,000,0001,500,0009,000,0007,500,000

For further information please contact

Yaxi Zhan

Managing Director

This announcement was authorised for release by the Managing Director of Accelerate Resources Limited.