AUKING MINING LIMITED — Capital/Financing Update 2022

Dec 20, 2022

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

AUKING MINING LIMITED

Date of this announcement

Wednesday December 21, 2022

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

Total number of ASX +security +securities to be code Security description issued/transferred Issue date New class - code Unlisted $0.20 30/9/25 option 6,870,000 20/12/2022 to be confirmed

Refer to next page for full details of the announcement

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

AUKING MINING LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

29070859522

1.3 ASX issuer code

AKN

1.4 The announcement is

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New announcement

1.5 Date of this announcement

21/12/2022

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Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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Other

Please specify

A total of 6,870,000 unlisted $0.20 30/9/25 options are to be issued

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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does not have an existing ASX security code ("new class")

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

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----- Start of picture text ----- New +securitiesASX +security code +Security descriptionNew class - code to be confirmed Unlisted $0.20 30/9/25 option+Security type ISIN codeOptionsDate the +securities the subject of this notification were issued20/12/2022Will all the +securities issued in this class rank equally in all respects from their issue date?YesHave you received confirmation from ASX that the terms of the +securities are appropriate and equitable underlisting rule 6.1?YesPlease provide a URL link for a document lodged with ASX setting out the material terms of the +securities beingissued.https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02585311-2A1407456?access_token=83ff96335c2d45a094df02a206a39ff4Options Details+Security currency Exercise price Expiry dateAUD - Australian Dollar AUD 0.20000000 30/9/2025Details of the existing class of +security that will be issued upon exercise or conversion of this new class ofcompany optionOtherDescriptionAKN fully paid ordinary sharesAny other information the entity wishes to provide about the +securities the subject of this notification----- End of picture text -----

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

The issue was included on an Appendix 3b lodged on 20 October 2022.

Issue details Number of +securities 6,870,000 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities Securities are free attaching options issued to participants in a placement completed in October 2022. The issue of the options required shareholder to be obtained before they could be issued. Purpose of the issue Other Additional Details

Securities are free attaching options issued to participants in a placement

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
AKN : ORDINARY FULLY PAID	113,414,611
AKNO : OPTION EXPIRING 30-JUN-2023	42,871,380

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
AKNAI : ORDINARY FULLY PAID RESTRICTED	4,429,096
AKNAK : OPTION EXPIRING 31-MAY-2025 EX $0.17	2,500,000
AKNAL : OPTION EXPIRING 31-MAY-2025 EX $0.11	2,700,000
New class - code to be confirmed : Unlisted $0.20 30/9/25 option	6,870,000

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

16/12/2022

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