AuMEGA Metals Limited — Capital/Financing Update 2021

Jun 3, 2021

Proposed issue of securities

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Update Summary

Entity name

MATADOR MINING LIMITED

Announcement Type

Update to previous announcement

Date of this announcement

Friday June 4, 2021

Reason for update to a previous announcement

No offers were received under the Prospectus.

Refer to next page for full details of the announcement

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Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

MATADOR 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.

1.2 Registered Number Type

Registration Number

ABN 45612912393

1.3 ASX issuer code

MZZ

1.4 The announcement is

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Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

No offers were received under the Prospectus.

1.4b Date of previous announcement(s) to this update

Friday March 12, 2021

1.5 Date of this announcement

Friday June 4, 2021

1.6 The Proposed issue is:

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A non-+pro rata offer of +securities under a +disclosure document or +PDS

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Part 5 - Details of proposed non-pro rata offer under a disclosure document or PDS

Part 5A - Conditions

5A.1 - Are any of the following approvals required for the non-+pro rata offer of +securities under a +disclosure document or +PDS?

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+Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity No

Part 5B - Offer 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)? Existing class

Details of +securities proposed to be issued

ASX +security code and description

MZZ : ORDINARY FULLY PAID

The number of +securities to be offered under the +disclosure document or +PDS

100

Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)? No

Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)? No

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Proposed issue of securities

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Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)? No Reason for the update of 'Maximum Number of +securities proposed to be issued' Offer price details Has the offer price been determined? Yes In what currency will the offer be What is the offer price per +security? made? AUD 0.30000 AUD - Australian Dollar Oversubscription & Scale back details Will the entity be entitled to accept over-subscriptions? No Will a scale back be applied if the offer is over-subscribed? No Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Part 5C - Timetable 5C.1 Lodgement date of +disclosure document or +PDS with ASIC Friday March 12, 2021 5C.2 Date when +disclosure document or +PDS and acceptance forms will be made available to investors Monday March 15, 2021 5C.3 Offer open date Monday March 15, 2021 5C.4 Closing date for receipt of acceptances Thursday June 3, 2021 5C.6 Proposed +issue date Tuesday June 8, 2021

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Part 5D - Listing Rule requirements

5D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? No

5D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5D.1b ( i ) How many +securities are proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

100

5D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

5D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No

Part 5E - Fees and expenses

5E.1 Will there be a lead manager or broker to the proposed offer? No

5E.2 Is the proposed offer to be underwritten?

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No

5E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

5E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

$21,206

Part 5F - Further Information

5F.01 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

Cleansing Prospectus for purposes of s708A(11) Corporations Act - after paying the expenses of the Offer there will be no proceeds from the Offer.

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5F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful? No

5F.2 Please explain the entity's allocation policy for the offer, including whether or not acceptances from existing +security holders will be given priority

The offer will be made to selected investors.

5F.3 URL on the entity's website where investors can download the +disclosure document or +PDS

www.matadormining.com.au/investordashboard/asx-announcements/

5F.4 Any other information the entity wishes to provide about the proposed offer

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