AUDALIA RESOURCES LIMITED — Capital/Financing Update 2020

Nov 25, 2020

ANNOUNCEMENT

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UPDATE ON FUNDING AND CAPITAL RAISING

25 NOVEMBER 2020

Audalia Resources Limited ( Audalia or the Company ) (ASX: ACP) is pleased to announce its intention to raise $400,000 by way of placement of 20,000,000 fully paid ordinary shares ( Shares ) in the Company at an issue price of $0.02 per Share, to a sophisticated investor ( Placement ).

The Placement is expected to complete on or around 2 December 2020 and will be issued using the Company’s 15% capacity pursuant to Listing Rule 7.1. An Appendix 3B will be lodged separately.

The funds raised from the Placement will be used to progress the exploration and evaluation work at the Company’s Medcalf Project and supplement general working capital.

Audalia continues to assess all funding alternatives to ensure that the Company can advance the approvals for the Medcalf Project.

Authorised by:

Brent Butler Executive Director and CEO

ASX: ACP l Find out more at www.audalia.com.au

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