AUKING MINING LIMITED — Capital/Financing Update 2020

Sep 14, 2020

AuKing Mining Limited ABN 29 070 859 522

Suite 27, Level 7, 320 Adelaide Street Brisbane QLD 4000 GPO Box 216 Brisbane QLD 4001 Tel: +61 7 3535 1208

15 September 2020

The Manager Listings Compliance ASX, SYDNEY

RE: APPOINTMENT OF NOVUS CAPITAL LIMITED AS LEAD MANAGER FOR UPCOMING CAPITAL RAISING

The Board of AKN is pleased to report that it has signed a mandate with Sydneybased Novus Capital Limited as the Lead Manager for its upcoming capital raising and proposed re-quotation on the ASX. Novus will lead and co-ordinate all funds raised for the AKN capital raising and will continue to provide corporate advisory services after that activity is completed. Novus has a twenty plus year history of raising funds and floating small cap companies, most recently acting as Lead Manager or Participating Broker for companies such as North Stawell Minerals Ltd. (NSM), Ora Gold Ltd (OAU) TechGen Metals Ltd and Li-S Energy.

AKN is proposing to raise a minimum of $6M, with provision to accept oversubscriptions for a further $1M, in order to raise sufficient funds to enable AKN to carry out its earn-in obligations at the Koongie Park copper/zinc project in northeastern Western Australia. AKN will be making provision for a priority entitlement under the capital raising for existing shareholders who wish to participate in the raising.

Subject to completion of prospectus disclosure documentation and arrangements with ASX, it is the intention AKN to commence the capital raising in late October/early November 2020.

This announcement is authorised by:

Paul Williams Managing Director p.williams@aukingmining.com +61 419 762 487

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