ANDROMEDA METALS LIMITED — Capital/Financing Update 2017

Nov 1, 2017

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2 November 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 27 October 2017 Andromeda Metals Limited (ASX : ADN) completed and issued 113,290,300 fully paid Ordinary Shares under a Placement at 0.5 cents, raising gross proceeds of $0.566 million. An Appendix 3B has been released in respect to the issue.

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 Placement Shares are part of the class of ordinary shares quoted on ASX.

2. The Company issued the Placement 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 Placement Shares.

Yours sincerely

Chris Drown Managing Director