ALBION RESOURCES LIMITED — Capital/Financing Update 2021

Sep 7, 2021

8 September 2021

Loyalty Options Shortfall Notice

Albion Resources Limited (ASX: ALB) ( Albion or the Company ) advises that the non-renounceable entitlement issue of loyalty options announced to ASX on 13 August 2021 (“Entitlement Issue”) closed on Friday, 3 September 2021.

The Entitlement Issue offered eligible shareholders registered on the Record Date the ability to subscribe for Options on the basis of one (1) Option for every two (2) Shares held at an issue price of $0.001 per Option to raise up to $22,000 before costs (“Loyalty Options”).

Total applications received for the Loyalty Options were 17,147,261 ($17,147.26), leaving a shortfall of 4,852,739. The Board has also now accepted applications for 4,852,739 Shortfall Options ($4,852.74) under the Shortfall Offer.

The Loyalty Options will be issued as per the timetable for the Entitlement Issue.

This announcement has been approved for release by the Board.

FOR FURTHER INFORMATION:

Colin Locke Executive Chairman +61 457 289 582 colin.locke@albionresources.com.au

ASX ALB

DIRECTORS Colin Locke EXECUTIVE CHAIRMAN Jonathan King NON-EXECUTIVE DIRECTOR David Palumbo NON-EXECUTIVE DIRECTOR