ANDROMEDA METALS LIMITED — Capital/Financing Update 2021

Nov 11, 2021

==> picture [203 x 29] intentionally omitted <==

69 King William Road UNLEY South Australia 5061

ABN 75 061 503 375

Telephone: +61 8 8271 0600 Facsimile: +61 8 8271 0033 info@andromet.com.au www.andromet.com.au

12 November 2021

The Manager Companies Announcements Office Australian Securities Exchange

Dear Sir/Madam,

NOTIFICATION PURSUANT TO PARAGRAPH 708A(5)(e) OF THE CORPORATIONS ACT 2001

This notice is given by Andromeda Metals Limited (ACN 061 503 375) (“Andromeda” or “Company”) (ASX:ADN) pursuant to section 708A(5)(e) of the Corporations Action 2001 (Cth) (Corporations Act).

On 12 November 2021, the Company issued 17,500,000 fully paid ordinary shares upon the exercise of options, exercisable at $0.012 and expiring 15 November 2021 and 4,000,000 fully paid ordinary shares upon the exercise of options exercisable at $0.064 and expiring 28 November 2022.

The Company hereby gives notice that:

• (a) The Shares are part of the class of ordinary shares quoted on the ASX;

• (b) The Company issued the Securities without disclosure to investors under Part 6D.2 of the Corporations Act, in reliance on section 708 and that notification is being given under Section 708A(5)(e) of the Act;

• (c) As at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and section 674 of the Act; and

• (d) As at the date of this notice, there is no information:

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

  • (ii) That investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

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

    • B. the rights and liabilities attaching to the Shares.

Authorised for release by the Andrea Betti, the Company Secretary of Andromeda Metals Limited.

Yours faithfully,

==> picture [123 x 40] intentionally omitted <==

Andrea Betti Company Secretary Andromeda Metals Limited