ALBION RESOURCES LIMITED — Capital/Financing Update 2021

Apr 27, 2021

28 April 2021

Pre-Quotation Disclosure

Albion Resources Limited ( Company ) makes the following disclosures in accordance with ASX's listing conditions.

Capitalised terms not defined have the meaning given in the Company's prospectus dated 18 March 2021.

Confirmation of issue of securities

The Company confirms the issue of:

• (a) 25,000,000 Shares at an issue price of $0.20 each; and

• (b) 3,000,000 Lead Manager Options with an exercise price of $0.25 each and expiring on 21 January 2024 to nominees of the Lead Manager.

Restricted securities

The Company confirms the following securities will be subject to restriction pursuant to the ASX Listing Rules for the period outlined below:

Class	Number	Restriction Period
Shares	12,628,425	24 months from the date of official quotation.
Shares	3,427,917	12 months from the date on which the restricted securities were issued(escrow concluding on dates ranging from 29 June 2021 to1 February 2022).

Capital structure

The Company's capital structure at the date of admission is:

Security	Number
Fully Paid Ordinary Shares	44,000,000
Unquoted Options exercisable at $0.25 each on or before 21 January 2024	3,000,000

By order of the Board

David Palumbo Company Secretary Albion Resources Limited

ASX ALB

DIRECTORS

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