ANDROMEDA METALS LIMITED — Capital/Financing Update 2017

Dec 17, 2017

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18 December 2017

Company Announcements Office Australian Securities Exchange Limited PO Box H224 Australia Square NSW 1215

Notice under Section 708A(5) of the Corporations Act

On 11 December 2017 Andromeda Metals Limited (ASX: ADN) completed the placement of 87,971,418 fully paid ordinary shares at an issue price of $0.005 per share to professional and sophisticated investors associated with PAC Partners Pty Ltd, being the entire shortfall to the 1-for-2 non-renounceable Rights Issue which closed on 30 November 2017, raising gross proceeds of $439,857 before costs. In addition 6,735,373 fully paid ordinary shares were also issued to two previous Non-Executive Directors of the Company in settlement of outstanding accrued director fees as approved by Shareholders at the 2017 Annual General Meeting. An Appendix 3B has been released in respect to the combined issue of 94,706,791 fully paid ordinary shares.

In accordance with the requirements of section 708A(5)(e) of the Corporations Act 2007 (Act), under which this notice is given, the Company confirms that:

1. The issued Shares are part of the class of ordinary shares quoted on ASX.

2. The Company issued the Shares without disclosure to investors under Part 6D.2 of the Act, in reliance on sections 708 and that notification is being given under 708A(5)(e) of the Act.

3. As at the date of this notice:

   • (a) the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company;

   • (b) the Company has complied with section 674 of the Act; and

4. As at the date of this notice, there is no information:

   • (a) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

   • (b) that investors and their professional advisers would reasonably require, and would reasonably expect to find in a disclosure document, for the purpose of making an informed assessment of:

     • i. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

     • ii. the rights and liabilities attaching to the issued Shares.

Yours sincerely

Chris Drown Managing Director