ANAX METALS LIMITED — Capital/Financing Update 2021

Jun 14, 2021

15 JUNE 2021

ASX: ANX

PERFORMANCE RIGHTS VESTING

Anax Metals Limited (ASX: ANX, “ Anax ” or “the Company” ) advises that in accordance with the Prospectus dated 18 September 2020, 4,800,000 Class B Performance Rights have vested, having met the applicable vesting criteria. The vesting criteria for the Class B Performance Rights was the 20-day volume weighted average market price (VWAP) of the Company’s Shares reaching 300% of the Public Offer Price (being 300% of $0.03, or $0.09) prior to the Expiry Date.

The Class B Performance Rights are now able to be converted into Anax shares at the holder’s election prior to their expiry, as per their terms.

All 4,500,000 of the Class C Performance Rights remain unvested.

This announcement is authorised for release by the Board of Anax Metals Limited.

For Further Information, please contact:

Anax Metals Limited info@anaxmetals.com.au

Ground Floor, 20 Kings Park Rd, West Perth WA 6005 | Ph: +61 8 6143 1840