AUREKA LIMITED — Capital/Financing Update 2018

Sep 5, 2018

ASX Announcement

6 September 2018

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Navarre Minerals Limited
ABN 66 125 140 105
ASX Code: NML
Corporate Details
Issued capital:
328.7M ordinary shares
9.7M unlisted options
Directors & Management:
Kevin Wilson
(Non-Executive Chairman)
Geoff McDermott
(Managing Director)
John Dorward
(Non-Executive Director)
Colin Naylor
(Director & Company Secretary)
Shane Mele
(Exploration Manager)
Jodi Ford
(Assistant Company Secretary)
Contact Details
Geoff McDermott
Managing Director
Navarre Minerals Limited
40 - 44 Wimmera Street
Stawell VIC 3380
Australia
PO Box 385
Stawell VIC 3380
Australia
Tel: +61 (0)3 5358 8625
Email: info@navarre.com.au
Website: www.navarre.com.au
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Eligible Shareholders Participating in Navarre’s 2018 Share Purchase Plan to receive JMEI credits

• Eligible shareholders participating in Share Purchase Plan (SPP) will be entitled to receive a pro-rata distribution of Junior Minerals Exploration Incentive (JMEI) credits.

• Proceeds from SPP will be applied towards exploration at the Stawell Corridor Gold Project and Tandarra Gold Project

• SPP closes at 5pm (Melbourne time) on 14 September 2018

Navarre Minerals Limited ( Navarre or the Company ; ASX: NML ) is pleased to advise that Australian resident shareholders participating in the Company’s 2018 Share Purchase Plan ( SPP ) are eligible to receive a pro-rata distribution of the Junior Minerals Exploration Incentive ( JMEI ) credit recently introduced by the Federal Government.

As announced by the Company on 13 August 2018, Navarre was successful in its application to participate in the JMEI scheme for the 2018/2019 tax year and has received an allocation of up to $1,576,003 exploration credits which can be distributed to eligible shareholders.

A participating shareholder’s final JMEI credit entitlement amount will be determined after lodgement of the Company’s 2018/19 tax return.

Assuming the SPP raises $0.8M, then eligible shareholders’ JMEI credit entitlement is expected to be approximately 1.37 cents per new fully paid ordinary Navarre share[1] . The effective share price for Australian shareholders participating in the SPP is approximately 3.63 cents per share[1] .

Receiving a JMEI credit could have tax consequences and shareholders who are issued JMEI credits by the Company should obtain independent tax advice specific to their personal circumstances.

The SPP provides the opportunity for shareholders to subscribe for up to $15,000 in new, fully paid ordinary Navarre shares in the Company without incurring brokerage or other transaction costs.

Shareholders are reminded that the SPP closes at 5:00pm (Melbourne time) on Friday 14 September 2018, and are encouraged to participate.

To request a replacement Application Form or for further details, please contact:

Jodi Ford (Assistant Company Secretary): or Boardroom: E: info@navarre.com.au T: 1300 737 760 (in Australia) T: +61 (0)3 5358 8625 T: +61 (0)2 9290 9600 (international)

Navarre Minerals Limited | ABN 66 125 140 105 40 - 44 Wimmera Street | PO Box 385 | Stawell VIC 3380 Australia t +61 3 5358 8625 e info@navarre.com.au | w navarre.com.au

N a v a r r e M i n e r a l s L i m i t e d ( N M L ) A S X A n n o u n c e m e n t P a g e | 2

1The estimated eligible JMEI credit entitlement of 1.37 cents per new fully paid ordinary Navarre share assumes that the Company issues 16,000,000 SPP shares to shareholders at 5 cents per share to raise $800,000. This equates to total JMEI credits of $220,000 and, when divided by 16,000,000 shares, equates to a JMEI credit of 1.37 cents per share.

This estimate is prepared on the basis that no shares other than those issued under the recently completed Share Placement (see ASX release 16 August 2018) and SPP will be issued by the Company prior to 30 June 2019. Should the Company issue additional shares prior to 30 June 2019, this may impact eligible shareholders’ entitlement to JMEI credits.

About Navarre Minerals Limited:

Navarre Minerals Limited (ASX: NML) is an Australian-based resources company that is creating value from a portfolio of early to advanced stage gold projects in Victoria, Australia.

Navarre is searching for gold deposits in the extension of a corridor of rocks that host the Stawell (~five million ounce) and Ararat (~one million ounce) goldfields. The discovery of outcropping gold at the Irvine Gold Project is a prime focus for the Company. The Project is located 15km south of the Stawell Gold Mine, which Arete Capital Partners has recently acquired from Kirkland Lake Gold Ltd.

The high-grade Tandarra Gold Project is located in close proximity to Kirkland Lake Gold’s world class Fosterville Gold Mine, and 40kms north of the 22 million-ounce Bendigo Goldfield. Exploration at Tandarra, in JV partnership with Catalyst Metals Limited, is targeting the next generation of gold deposits under shallow cover in the region.

At the Glenlyle Project the Company has identified an epithermal gold-silver system above a potential porphyry copper-gold target that occurs in the same volcanic package that hosts the nearby Thursdays Gossan deposit.

The Company is searching for a high-grade gold deposits at the St Arnaud Gold Project. Recent reconnaissance drilling has identified potential ore grade gold mineralisation under shallow cover which the Company believes may be an extension of the historic 0.4Moz St Arnaud Goldfield.

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For further information, please visit www.navarre.com.au or contact:

Geoff McDermott Managing Director E: info@navarre.com.au T: +61 (0)3 5358 8625

Forward-Looking Statements

This announcement contains “forward-looking statements” within the meaning of securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “continue”, “objectives”, “outlook”, “guidance” or other similar words, and include statements regarding certain plans, strategies and objectives of management and expected financial performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Navarre and any of its officers, employees, agents or associates. Actual results, performance or achievements may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. Exploration potential is conceptual in nature, there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. Readers are cautioned not to place undue reliance on forward-looking statements and Navarre assumes no obligation to update such information.

Navarre Minerals Limited | ABN 66 125 140 105 40 - 44 Wimmera Street | PO Box 385 | Stawell VIC 3380 Australia t +61 3 5358 8625

e info@navarre.com.au | w navarre.com.au