ACTIVEX LIMITED — Capital/Financing Update 2021

Nov 17, 2021

TERMINATION AND ASSET SALES AGREEMENT RAVENSWOOD PROJECT

18[th] November 2021

TERMINATION AND ASSET SALES AGREEMENT

ASX Code: AIV

RAVENSWOOD GOLD PROJECT

Issued Capital

177,132,676 ordinary shares (AIV)

Market Capitalisation

$23.03M (17 November 2021, $0.13)

Directors

Min Yang (Chairman, NED) Mark Derriman (Managing Director) Geoff Baker (NED) Dongmei Ye (NED) Louis Chien (Alternate Director to Min Yang)

About ActivEX

ActivEX Limited is a minerals exploration company committed to the acquisition, identification, and delineation of new resource projects through active exploration.

The ActivEX portfolio is focussed on copper and gold projects, with substantial tenement packages in the north and southeast Queensland and in the Cloncurry district of northwest Queensland.

Suite 2, 3B Macquarie Street Sydney, NSW 2000

admin@activex.com.au www.activex.com.au Phone +61 (02) 9251 9088

ABN 11 113 452 896

The Company is pleased to announce that it has finalised a Termination and Asset Sales Agreement ( TASA ) with listed company Ballymore Resources Limited (ACN 632 893 611) ( BMR ) over five (5) 100% owned gold tenements (Table 1) located in North-East Queensland, approximately 100km west of Townsville. The tenements are located in the highly mineralised Charters Towers Province (Figures 1 and 2).

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Figure 1 ActivEX Project Location Map

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TERMINATION AND ASSET SALES AGREEMENT RAVENSWOOD PROJECT

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Figure 2. Ravenswood Gold Project tenement and prospect locations.

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TERMINATION AND ASSET SALES AGREEMENT RAVENSWOOD PROJECT

BMR and AIV are parties to a Farm-in and Option Agreement relating to the Ravenswood Gold Project. BMR provided notice that they had earned 51% equity (Initial Interest) by spending a total of $500K on exploration and development relating to the project and AIV is currently completing the transfer of the 51% interest in the Ravenswood Tenements to BMR pursuant to the Farm-in and Option Agreement.

Under the Terms of the TASA:

• AIV and BMR will be terminating the Farm-in and Option Agreement; and

• AIV and BMR agreed that AIV would swap its 49% interest in the Ravenswood Gold Project for 2,000,000 fully paid shares in BMR, which will be under voluntary escrow for six (6) months from the date of issue. Based on the closing price of BMR at 17 November 2021 of $0.215, the consideration for the disposal is $430,000. Completion of the transfer is expected to occur in 4 to 6 weeks upon lodgement of the transfer documents.

The Company looks forward to Ballymore unlocking the full mineral potential of the Ravenswood Gold Project.

Project Name	Tenement Name	EPM(a)	Status	Granted	Expires	Area (km2)	Sub-blocks
RavenswoodGold	Mt Leyshon	18424	Granted	08-May-12	07-May-22	70.87	22
	King Solomon	18637	Granted	17-Aug-12	16-Aug-22	25.83	8
	Cornishman	18426	Granted	16-Dec-14	15-Dec-26	109.60	34
	Charlie Creek	25466	Granted	14-Oct-14	13-Oct-26	9.67	3
	Birthday Hills	25467	Granted	19-Mar-15	18-Mar-22	93.60	29

Table 1 Ravenswood Gold Project tenement schedule

This announcement is authorised by the Board of ActivEX Limited

For further information contact: Mr Mark Derriman, Managing Director

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