ARK MINES LIMITED — M&A Activity 2021

Dec 8, 2021

ASX ANNOUNCEMENT 9 December 2021

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Update on acquisition of MIJ Holding Co Pty Limited

Ark Mines Ltd (Company or AHK) refers its proposed acquisition of MIJ Holding Co Pty Limited, as announced to ASX on 25 August 2021 and approved by shareholders on 24 September 2021.

In preparing for completion of the acquisition the Company has become aware that the announcement, notice of meeting and prospectus referred to “MIJ Holdings Pty Limited”, rather than “MIJ Holding Co Pty Limited”. The misdescription was an error, and the Company confirms the following:

1. The binding heads of agreement entered into with Bmax Holdings Pty Limited (Bmax) on 24 August 2021 to acquire MIJ Holding Co Pty Limited is valid and binding on both AHK and Bmax.

2. MIJ Holding Co Pty Limited owns all of the issued shares in Mt Jesse Pty Limited, Gunnawara Pty Limited and Mt Pluton Base Pty Limited, which respectively are the registered holders of EPM 26464, EPM 26560 and EPM 26883. These are the assets referred to in the announcement, notice of meeting and the prospectus. Other than as announced to ASX, there have not been any changes to the assets.

3. The error was an oversight and at all times the parties’ intentions were that the Company was acquiring (through the acquisition of MIJ Holding Co Pty Limited) EPM 26464, EPM 26560 and EPM 26883, and the shareholder approval passed on 24 September 2021 is effective for all purposes (including under the Listing Rules).

This announcement has been approved by the Board of Ark Mines Limited.

Further Information:

Roger Jackson Director +61 400408550

Antony Corel Chairman +44 7833578088