AUKING MINING LIMITED — Capital/Financing Update 2021

Mar 14, 2021

AuKing Mining Limited ABN 29 070 859 522 (previously Chinalco Yunnan Copper Resources Ltd)

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

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15 March 2021

The Manager Listings Compliance ASX, SYDNEY

RE: PUBLIC OFFER AND KOONGIE PARK COPPER/ZINC TRANSACTION

Please see attached a copy of a letter which has been forwarded to all existing shareholders of the Company.

This announcement is authorised by:

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

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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

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10 March 2021

Dear AKN Shareholder

On 9 March 2021 AuKing Mining Limited (ASX:AKN) ( Company ) lodged a prospectus with ASIC ( Prospectus ) containing a public offer of up to 35,000,000 fully paid ordinary shares ( Shares ) at an issue price of 20c per Share to raise up to $7million, with a minimum subscription of $6million (30,000,000 Shares) ( Public Offer ). The offer includes freeattaching options exercisable at 25c on or before 30 June 2023, to be issued on the basis of one option for every two Shares applied for.

The Prospectus is being issued in connection with the Company’s proposed acquisition (by way of earn-in) of up to a 75% interest in the Koongie Park copper/zinc project near Halls Creek in north-eastern Western Australia ( Proposed Acquisition ). Please refer to the Company’s ASX announcement on 24 June 2020 for further details with respect to the Proposed Acquisition.

The Prospectus is a re-compliance prospectus for the purposes of satisfying Chapters 1 and 2 of the ASX Listing Rules and to satisfy the ASX requirements for re-admission to the Official List following a change in the nature and scale of the Company’s activities.

The Public Offer is now open and will close 5pm (Sydney time) on 23 April 2021 and is available to Australian residents. The Company has already experienced strong investor interest in the Public Offer. Accordingly, if shareholders have an interest in participating, we would urge you to complete your application form as soon as possible, as the Company reserves the right to close the offer early.

Applications for Shares under the Prospectus must be made by using an application form that is attached to the Prospectus ( Application Form ). You can access the Prospectus and Application Form via the Company’s website at www.aukingmining.com . Applications for Shares under the Public Offer must be for a minimum of $2,000 worth of Shares (10,000 Shares) and thereafter in multiples of $500 worth of Shares (2,500) Shares and payment for the Shares must be made in full at the issue price of 20c per Share.

The Company retains the absolute discretion to allocate Shares under the Public Offer and reserves the right, in its absolute discretion, to issue to an applicant a lesser number of Shares than the number for which the applicant applies or reject an Application Form. The Board will take all reasonable steps to ensure that existing shareholders of the Company secure Shares that they apply for.

If you have any questions with respect to the Public Offer or require assistance in completing an Application Form please contact either our Share Registry (1800 810 827), myself on 0419 762 487 or our Company Secretary Paul Marshall on 0433 019 836.

Sincerely

Paul Williams, Managing Director

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