ARROW MINERALS LTD — Capital/Financing Update 2022

Jul 12, 2022

13 July 2022

ASX Announcement

ASX: AMD

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DIRECTORS / OFFICERS Frazer Tabeart

Chairman

Hugh Bresser Managing Director

Tommy McKeith Non-Executive Director

Catherine Grant-Edwards & Melissa Chapman Joint Company Secretary

NON-BROKERED PRIVATE PLACEMENT OF $350,000

Highlights

• Arrow has received commitments from qualified sophisticated and professional investors for a private placement of $350,000

• New shares will be issued at a 200% premium to market (0.6 cents)

• Proceeds of the raising will be used on Arrow’s existing projects and to complete due diligence on the Simandou North Iron Project which has been secured under a three-month exclusivity period

Arrow Minerals Limited (ASX: AMD) ( Arrow, Arrow Minerals, or the Company ) is pleased to announce it has received commitments as part of a non-brokered private placement from qualified sophisticated and professional investors to raise $350,000 via the issue of 58,333,334 fully paid ordinary shares in the Company ( Shares ) at an issue price of 0.6 cents per Share ( Placement ). This represents a 200% premium to market.

The placement premium recognises the underlying value of Arrow’s current assets and endorses management’s strategic growth plans announced today as Arrow secures an option on the Simandou North Iron Ore Project in Guinea aimed at delivering long term value creation for shareholders of the Company.

Arrow’s Managing Director, Hugh Bresser, said “We are pleased to be able to deliver a placement at a significant premium to market. This permits the Company to execute its corporate growth strategy while minimising dilution to existing Arrow Minerals shareholders.”

Placement

The Placement will be completed under the Company’s existing placement capacity under ASX Listing Rule 7.1A to be issued on or around Friday, 15 July 2022.

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WEBSITE

www.arrowminerals.com.au

Email

info@arrowminerals.com.au

The issue price of 0.6 cents per Share represents a 200% premium to the 10-day VWAP of 0.2 cents per share. There are no broker fees associated with the Placement.

Use of Funds

Funds raised pursuant to the Placement will be used to undertake ongoing exploration on the Company’s existing projects in West Africa and for general working capital purposes including due diligence on the Simandou North Project.

A completed Appendix 3B in respect of the proposed issue of Shares has been lodged together with this announcement.

This announcement, in combination with the announcements “Divestment of Strickland Copper Gold Project WA” and “Non-Binding Term Sheet to Acquire 60.5% in the Simandou North Iron Project” dated 13 July 2022, are intended to lift the voluntary suspension of the Company’s ordinary securities.

Announcement authorised for release by Mr Hugh Bresser, Managing Director of Arrow Minerals.

Suite 5, 63 Hay Street, Subiaco WA 6008

Tel +61 (8) 9383 3330

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Arrow Minerals Limited ABN 49 112 609 846