ARGENT MINERALS LIMITED — Share Issue/Capital Change 2021

Sep 30, 2021

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1 October 2021

Dear Option Holder

NOTIFICATION OF EXPIRY OF OPTIONS

At that date of this notice, you are a registered holder of options ( the Options , ASX code: ARDOA ) in Argent Minerals Limited ( the Company , ASX code: ARD ). These options were issued to shareholders in the first instance on 20 November 2019 or have been purchased on market since then.

This letter notifies you of the impending expiry of the Options on Friday, 29 October 2021. It also sets out your alternative courses of action prior to expiry and provides information about recent prices of the ARD shares and the Options.

As of 30 September 2021, the last traded price of ARD shares was $0.026. However, the market price should be monitored for any significant changes. We recommend that you seek independent financial advice if you are unsure whether to exercise your Options.

Your choices as an Option holder are:

• Do nothing and allow your Options to lapse

If you do not take any action to exercise your Options prior to 5:00pm (WST) on Friday, 29 October 2021, the Options will expire and your right to purchase shares at $0.05 will lapse.

• Exercise all or some of your Options

To exercise your Options, the enclosed personalised Options Expiry Notice and your cleared funds must be received by the Company’s share registry no later than 5:00pm (WST) on Friday, 29 October 2021. Payment can also be made by direct debit and further instructions are on the enclosed form.

Please note that exercising your Options does not incur any brokerage costs.

• Sell all or some of your Options on market

If you elect not to exercise your Options, you may wish to consider selling your Options on the ASX. Your Options are currently trading on the ASX under the ASX code: ARDOA. The last trade for ARDOA was on 27 September 2021 and was $0.001. When considering whether to sell your Options on market, you should bear in mind any brokerage charges that you may incur.

The Options will cease trading on the ASX on 25 October 2021.

In accordance with Appendix 6A of the ASX Listing Rules, the Company advises the following:

• A. The number of Options you hold at the date of this letter is set out in your Options Expiry Notice.

B. Each Option entitles the holder to receive, on exercise, one (1) fully paid ordinary share in the Company. If all Options are exercised, by all holders of the Options, then 97,215,893 fully paid ordinary shares will be issued.

• C. The exercise price of the Options is $0.05 per Option. If cleared funds are not received by 5:00pm (WST) on Thursday, 29 October 2021, then your Options will expire with no value and no further entitlement will exist.

• D. Official quotation of ARDOA Options on the ASX will cease at the close of trading on 25 October 2021.

• E. There is no underwriting agreement in place for the exercise of the Options.

• F. The latest available market price of ARD shares prior to the date of this notice was $0.026 at the close

Argent Minerals Limited ABN 89 124 780 276 Tel +61 (08) 9481 0389 Email info@argentminerals.com.au

25 Colin Street West Perth WA 6005

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of trading on 30 September 2021.

• G. The highest and lowest market prices of ARD shares traded in the three months immediately before the date of this notice were:

Highest: $0.046 per share on 6 July 2021

Lowest: $0.025 per share on 20 September 2021

For further information please contact:

If you have any queries about completing the form, please call Argent Minerals Limited 08 6555 2950 or at argent-admin@argentminerals.com.au between 8.30am and 5.00pm (WST).

For further information, please contact:

George Karageorge Managing Director Argent Minerals Limited M: 0419 944 484 E: George.karagorge@argentminerals.com.au

Argent Minerals Limited ABN 89 124 780 276 Tel +61 (08) 9481 0389 Email 25 Colin Street West Perth WA 6005

ABN 89 124 780 276 Email info@argentminerals.com.au

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