ALCHEMY RESOURCES LIMITED — Capital/Financing Update 2019

Sep 11, 2019

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12 September 2019

Company Announcements Office Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000

ENTITLEMENT OFFER SUCCESSFULLY COMPLETED RAISING $1.3M

Alchemy Resources Limited (the Company ) advises that the pro rata non-renounceable 1 for 4 entitlement offer (the Issue ) announced on 7 August 2019 has been successfully completed raising a total of $1,321,258 (before costs). The issue of 110,104,870 ordinary fully paid shares at a price of $0.012 per share comprised the following;

Issue Category	Shares	Funds
Entitlements Accepted	56,647,264	$ 679,767
Additional shares taken upbyshareholders	28,112,814	$ 337,354
Shortfall to beplaced to sophisticated investors	25,344,792	$ 304,138
Total Funds Raised	110,104,870	$ 1,321,258

Funds received from existing shareholders represents a take up of 77%, and the Company has received firm commitments from sophisticated and professional investors for the entire shortfall being 25,344,792 shares (the Shortfall ) which will be placed at the Issue price of $0.012 per share to raise a further $304,138. The shortfall placement will bring the Issue total to $1,321,258 (before costs).

The Company expects that the new shares will be allotted and all holding statements dispatched to shareholders on 16 September 2019.

Funds raised will be used to advance drilling programs at the Company’s Karonie Gold Project (WA) and the Overflow Gold and Base Metal Project (NSW), as well as undertaking additional metallurgical test work on mineralised nickel-cobalt and alumina samples from the West Lynn Project, and for general working capital and costs of the Issue.

The Company would like to thank all existing and new shareholders who participated in the Issue for their support of the Company and we look forward to commencing drilling activities at the Karonie and Overflow projects in the near future.

Yours sincerely,

Leigh Ryan Managing Director

E: admin@alchemyresources.com.au W: www.alchemyresources.com.au

Suite 8, 8 Clive Street West Perth WA 6005

GPO Box 2815 T: +61 8 9481 4400 Perth WA 6001 F: +61 8 9481 4404