ASTRAL RESOURCES NL — Capital/Financing Update 2023

Jul 6, 2023

ASX Announcement 7 July 2023

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ASTRAL CONVERTS INTEREST IN KOONGIE PARK JOINT VENTURE TO ROYALTY

Astral Resources to be paid a 1% Net Smelter Return Royalty

Astral Resources NL (ASX: AAR) ( Astral or the Company ) is pleased to advise that effective 30 June 2023, its participating interest in the Koongie Park Joint Venture ( KPJV ) has been converted to a 1% Net Smelter Return (NSR) royalty ( NSR Royalty ). The Earn-In and Joint Venture Agreement ( JVA ) between Astral and AuKing Mining Limited (ASX: AKN) was dated 8 February 2021.

Under the terms of the JVA, upon Astral’s participating interest in the KPJV diluting to below 10%, Astral is deemed to have withdrawn from the KPJV and the remaining participating interest converts to the NSR Royalty. Astral’s participating interest was deemed to have diluted below 10% effective 30 June 2023.

Astral retains the right to explore for and develop gold and other precious metals deposits within the Koongie Park project area, including platinum group elements. These rights do not apply to the mining licences on which the Onedin and Sandiego deposits are situated.

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

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