AUDALIA RESOURCES LIMITED — Capital/Financing Update 2021

Oct 28, 2021

ANNOUNCEMENT

29 OCTOBER 2021

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UPDATE ON FUNDING

Audalia Resources Limited ( Audalia ) (ASX: ACP) advises that it has negotiated access to an additional loan facility of up to A$1,000,000 from a director, Siew Swan Ong, to meet its working capital requirements ( Related Party Loan Facility ).

The Company advises the material terms of the Related Party Loan Facility are as follows:

• Repayment Date: 31 January 2023, which may be extended on the same terms by mutual agreement of the parties.

• Interest rate: 5% per annum, accruing on a daily basis and payable on the Repayment Date.

• Security: The Related Party Loan Facility is unsecured.

• Fees: No fees are payable by Audalia for the establishment or provision of the Related Party Loan Facility.

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

For more information please contact:

Brent Butler CEO and Executive Director Audalia Resources Limited T: (08) 9321-0715 E: admin@audalia.com.au

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

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