AUKING MINING LIMITED — Capital/Financing Update 2024

Apr 18, 2024

ASX:AKN ABN 29 070 859 522 Phone 07 3535 1208 www.aukingmining.com

Auking Mining Limited Suite 2208, Level 22 127 Creek Street Brisbane Queensland 4000

19 April 2024

ASX RELEASE

AuKing secures $750,000 short term funding agreement with Evolution Capital

AuKing Mining Limited (ASX: AKN) advises that it has entered into a $750,000 shortterm funding agreement with Evolution Capital Pty Ltd.

AuKing’s CEO, Mr Paul Williams, said it was pleasing to secure the short-term facility with Evolution Capital to assist the Company with its immediate funding needs as various project activities are set to commence.

“The Evolution Capital funding agreement gives AuKing the opportunity to commence initial activities on its copper and uranium projects over the next couple of months. Evolution Capital is building a significant structured finance business, so we are pleased to have been able to access this facility,” Mr Williams said.

Funding Agreement Summary

A summary of the key terms of the loan facility is as follows: Facility Limit: A$750,000

Term: Four (4) months from the date of signing, namely 18 August 2024 (“Due Date”) Interest: 10% fixed rate payable at the Due Date

Security: A first-ranking corporate charge over all Company assets and interests; personal guarantee from Mr Asimwe Kabunga

Purpose of Loan: Working capital and initial project funding

Options Issue: 12,500,000 options exercisable at 3c on or before 30 April 2027.

For more information, please contact:

Paul Williams Chief Executive Officer Mobile +61 419 762 487 p.williams@aukingmining.com

1

==> picture [35 x 32] intentionally omitted <==

About AuKing Mining

AuKing Mining (ASX:AKN) is a mining exploration company focused on uranium, copper and zinc projects in both Tanzania and Australia.

AuKing is focussed on the exploration and development of six uranium and copper projects in Tanzania including:

Mkuju – near to the world class Nyota uranium project in southern Tanzania; the subject of significant previous exploration

Manyoni/Itigi – the subject of significant exploration situated in central Tanzania, just west of Dodoma

Mpanda/Karema – prospective copper areas in western Tanzania that were the subject of historic mining operations but largely untouched by modern exploration methods.

The Company also holds the Koongie Park Copper Zinc Project in Western Australia’s Halls Creek Region hosts a JORC resource and is neighboured by several significant mining and development operations including Nicholson’s Gold Mine and Savannah Nickel Mine. Koongie Park has already been the subject of significant exploration drilling and analysis since the 1970’s, hosting over 300 RC and diamond drill holes consisting of more than 60,000m of drilling in total. AuKing announced the promising results of its Koongie Park Scoping Study in June 2023 on a proposal to commence mining operations around a central processing facility at Sandiego. For further information

www.aukingmining.com

==> picture [368 x 209] intentionally omitted <==

2