AUREKA LIMITED — Major Shareholding Notification 2021

Dec 15, 2021

603 page 1/2 15 July 2001

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme Navarre Minerals Limited ACN/ARSN 125 140 105 1. Details of substantial holder (1) Name Navarre Minerals Limited ACN/ARSN (if applicable) 125 140 105 The holder became a substantial holder on 14 / 12 / 2021

1. Details of substantial holder (1)

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Person’s votes (5)	Voting power (6)
OrdinaryFullyPaid	133,333,334	133,333,334	9.77%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
Navarre Minerals Limited (ACN 125 140 105) (Navarre)	Restrictions on the disposal of the shares pursuant to an escrow arrangement with Evolution Mining Limited (ACN 084 669 036) (Evolution) (being the registered holder of the shares) entered into in connection with Navarre’s acquisition of the Mt Carlton Operations from Evolution, as disclosed in Navarre’s ASX Release dated 5 October 2021 and titled “Transformational Acquisition of the Mt Carlton Operations and Equity Raising” may give Navarre a ‘relevant interest’ in its own shares under sections 608(1)(c) and 608(9) of the_Corporations Act_ 2001(Cth). However, Navarre has no right to acquire the shares or to control the voting rights attaching to those shares. Refer to Evolution’s “Notice of Initial Substantial Holder”dated16December 2021 for further information.	133,333,334 fully paid ordinary shares

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Class and number of securities
Navarre Minerals Limited (ACN 125140105)	Evolution Mining Limited (ACN 084 669 036)	Evolution Mining Limited (ACN 084 669 036)	133,333,334 fully paid ordinary shares

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)		Class and number of securities
Navarre Minerals Limited	14 December 2021	Cash	Non-Cash	133,333,334 fully paid

603 page 2/2 15 July 2001

(ACN 125 140 105)			Arises in connection with Navarre’s acquisition of the Mt Carlton Operations from Evolution, as disclosed in Navarre’s ASX Release dated 5 October 2021. See section 3 above.	ordinary shares

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
N/A	N/A

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Navarre Minerals Limited (ACN)	40-44 Wimmera St, Stawell, 3380, VIC
Evolution MiningLimited(ACN)	Level 24 175 Liverpool Street, Sydney, 2000 NSW

Signature

print name sign here	Mathew Watkins Capacity Company Secretary
	date / / 16 12 2021

DIRECTIONS

(1) If there are a number of substantial holders with similar or related relevant interests (eg a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.

• (2) See the definition of “associate” in section 9 of the Corporations Act 2001.

• (3)

• (4)

• See the definition of “relevant interest” in sections 608 and 671B(7) of the Corporations Act 2001.

• The voting shares of a company constitute one class unless divided into separate classes.

(5) The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.

• (6) The person’s votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (7) Include details of:

(a) any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

• (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of “relevant agreement” in section 9 of the Corporations Act 2001.

• (8) If the substantial holder is unable to determine the identity of the person (eg if the relevant interest arises because of an option) write “unknown”.

• (9) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.