AUKING MINING LIMITED — Capital/Financing Update 2025

Jul 1, 2025

Appendix 3B - Proposed issue of securities

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Announcement Summary

Entity name

AUKING MINING LIMITED

Announcement Type

New announcement

Date of this announcement

2/7/2025

The Proposed issue is:

A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
New class-code to be	Unlisted 30 June 2028 $0.009 options	33,333,333
confirmed

Proposed +issue date 15/8/2025

Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of 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 ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

ABN

Registration Number

29070859522

1.3 ASX issuer code

AKN

1.4 The announcement is

New announcement

1.5 Date of this announcement

2/7/2025

1.6 The Proposed issue is:

A placement or other type of issue

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Appendix 3B - Proposed issue of securities

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? Yes 7A.1a Conditions

Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval 15/8/2025 Estimated No

Comments

Part 7B - Issue details

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? New class

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

Have you received confirmation from Will the entity be seeking quotation ASX that the terms of the proposed of the 'new' class of +securities on +securities are appropriate and ASX? equitable under listing rule 6.1? No No ASX +security code +Security description New class-code to be confirmed Unlisted 30 June 2028 $0.009 options

+Security type

Options

Number of +securities proposed to be issued

33,333,333

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Appendix 3B - Proposed issue of securities

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Offer price details

Offer price details	Offer price details	Offer price details	Offer price details	Offer price details	Offer price details	Offer price details	Offer price details	Offer price details	Offer price details	Offer price details	Offer price details	Offer price details
Are the +securities proposed to be issued being issued for a cash consideration?Please describe the consideration being provided for the +securitiesOptions are being issued as part of the fee payable for the initial draw down of a loan facilityPlease provide an estimate of the AUD equivalent of the consideration beingprovided for the +securitiesWill all the +securities issued in this class rank equally in all respects fromtheir issue date?Options details+Security currencyAUD - Australian DollarExercise priceAUD 0.0090Expiry date30/6/2028Details of the type of +security that will be issued if the option is exercisedAKN : ORDINARY FULLY PAIDNumber of securities that will be issued if the option is exercisedOne fully paid ordinary share (ASX:AKN)Please provide a URL link for a document lodged with ASX setting out the material terms of the +securitiesproposed to be issued or provide the information by separate announcement.Will be included in the EGM notice seeking approval to issue the optionsYesNo
		Please descr o		ibe the considera	tion being provid	ed for the +securi	ties
		Options arePlease provi	Options are	eing issued as pa	t of the fee payabl	e for the initial draw	down of a loan fa		cility
				de an estimate of	the AUD equivale	nt of the consider	ation being
		provided for		the +securities
		Will all the +		ecurities issued	n this class rank	equally in all resp	ects from
		their issue d		ate?
		Yes
	ti	dtil
	p	ons eas
		+Security cu		rrency	Exercise	price	Exp	ir	y date
		AUD - AustralDetails of theAKN : ORDINNumber of s		ian Dollar	AUD 0.00	90	30/6	/	2028
				type of +securityARY FULLY PAID	that will be issue	d if the option is	exercised
				ecurities that will	be issued if the o	ption is exercised
		One fully paiPlease provi	One fully pai	d ordinary share (A	SX:AKN)
				de a URL link for	document lodge	d with ASX settin	g out the materi	l	terms of the +	securities
		proposed to		be issued or rov	ide the informatio	n b searate an	ouncement
				p		y p	.
		Will be includ	Will be includ	ed in the EGM not	ice seeking approv	al to issue the opti	ons
P	art	7C - Timetable
P	art	7C.1 Propose15/8/20257D - Listing Rul
				d +issue date
				e requirements
		7D.1 Has theYes		entity obtained, o	r is it obtaining, +	security holder ap	proval for the e	n	ire issue unde	r listing rule 7	.1?
		7D.1a Date of15/8/20257D.2 Is a part No		meeting or propo	sed meeting to a	pprove the issue	under listing rule		7.1
				y referred to in lis	ting rule 10.11 pa	rticipating in the p	roposed issue?
		7D.3 Will anyNo		of the +securities	to be issued be +	restricted securit	ies for the purpo	s	es of the listin	g rules?

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 15/8/2025 7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No 7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

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Appendix 3B - Proposed issue of securities

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7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? No 7E.2 Is the proposed issue to be underwritten? No 7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities

Options are being issued as part of the fee payable for the initial draw down of a loan facility

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No 7F.2 Any other information the entity wishes to provide about the proposed issue

Appendix 3B - Proposed issue of securities

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