ASTRAL RESOURCES NL — Capital/Financing Update 2023

Sep 14, 2023

ASX Announcement

15 September 2023

==> picture [124 x 33] intentionally omitted <==

RESULTS OF SHARE PURCHASE PLAN

Astral Resources NL (ASX:AAR) (the Company ) is pleased to announce the results of the Company’s Share Purchase Plan ( SPP ), which closed on Friday 8 September 2023. The SPP complimented the Company’s recent placement to raise $3 million ( Placement ).

The SPP provided eligible shareholders the opportunity to apply for up to A$30,000 worth of new shares at an issue price of A$0.065 (as per the Placement) for each new share issued without incurring brokerage or other transaction costs. The Company received subscriptions of approximately $1.6 million from the SPP.

Pursuant to the SPP, 23,953,814 New Shares will be issued today, 15 September 2023. Holding statements will be despatched on 18 September 2023.

“ Astral Resources’ Managing Director Marc Ducler said : “We are really encouraged by the strong support received from our existing investors, who elected to participate in the SPP.

“Following the recently announced update to the Mineral Resource Estimate at Mandilla of 37Mt at 1.1g/t Au for 1.27Moz of contained gold[1] and the imminent release of the Mandilla Scoping Study, there are genuinely exciting times ahead for Astral.

“Funds raised under the Placement and the SPP will be used to continue to advance the Company’s Mandilla and Feysville Gold Projects.”

This announcement has been approved for release by the Managing Director.

For further information:

Investors:

Marc Ducler Managing Director Astral Resources +61 8 9382 8822

Media: Nicholas Read Read Corporate +61 419 929 046

1 - ASX Announcement dated 20 July 2023 – Mandilla Gold Resource Surpasses 1.25Moz – MRE Upgrade

==> picture [596 x 53] intentionally omitted <==