ACCELERATE RESOURCES LIMITED — Share Issue/Capital Change 2021

May 5, 2021

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Company Announcements Office, ASX Limited By E-Lodgement

Notice of Release from Voluntary Escrow and

Updated Capital Structure

Accelerate Resources Limited (ASX: AX8) (“Accelerate” or “the Company”) advises the Company’s capital structure following the lapse of 10,000,000 unquoted options exercisable at $0.25 per option, on 30 April 2021.

In accordance with ASX Listing Rule 3.10A, The Company also advises that 125,000 quoted securities are due to be released from voluntary escrow on 27 May 2021.

The Company’s capital structure following the lapse of 10,000,000 unquoted options is as follows:

ASX security code and description	Total number ofquotedsecuritieson issue
AX8 ordinary fully paid	156,847,794(125,000 AX8 fully paid ordinaryshares escrowed until 27 May 2021)(4,000,000 AX8 fully paid ordinaryshares escrowed until 31 August2021)
ASX security code and description	Total number ofunquotedsecuritieson issue
AX8AH Option expiring 14-Feb-2022,exercisable at $0.25 per option	5,000,000

	ASX security code and description_(continued)_
			on issue_(cont_	inued)
	AX8AJ Option expiring 9-June-2023,exercisable at $0.06 per option		5,000,000
	AX8AL Option expiring 2-Sept-2023,exercisable at $0.06 per optionAX8AM Option expiring 27-Nov-2022,exercisable at $0.0959 per option		5,000,000
			1,500,000
	AX8AN Option expiring 27-Nov-2024,exercisable at $0.0957 per optionAX8AO Option expiring 27-Nov-2022,exercisable at $0.0957 per option

For further information please contact

Yaxi Zhan

Managing Director

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