AUREKA LIMITED — Major Shareholding Notification 2021

Nov 22, 2021

604 Page 1 of 3 15 July 2001

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme

Navarre Minerals Limited

ACN/ARSN 125 140 105

1. Details of substantial holder (1)

Kirkland Lake Gold Australia Pty Ltd. (KLGA) and Kirkland Lake Gold Name Ltd.(KL) (Related Corporate Bodies) ACN/ARSN (if applicable) 136 505 587 (KLA)

There was a change in the interests of the substantial holder on

substantial holder on 19 / 11 / 2021 The previous notice was given to the company on 20 / 05 / 2015 The previous notice was dated 20 / 05 / 2015

2. Previous and present 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 when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

ompany or scheme, are as follows:
Class of securities (4)	Previous notice		Present notice
	Person’s votes	Voting power(5)	Person’s votes	Voting power(5)
Ordinary shares	18,469,272	19.95%	135,099,237	19.43%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
See Annexure A

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
KLGA	KLGA	KLGA	KLGA	47,981,303	47,981,303
KL	KL	KL	KL	87,117,934	87,117,934

604 Page 2 of 3 15 July 2001

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

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

6. Addresses

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

Name	Address
KLGA	Level 33 101 Collins Street, Melbourne, VIC 3000
KL	Royal Bank Plaza, South Tower 200 Bay Street, Suite 2800 Toronto, Ontario M5J 2J1 Canada

Signature

print name sign here	Wendy Yu capacity Vice President, Legal
	date 22/Nov/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 6 of the form.

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

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

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

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

• (6) Include details of:

• (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. 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.

• (7) 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.

• (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".

604 Page 3 of 3 15 July 2001

(9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Annexure 1 to Form 604

3. Changes in relevant interests

Date of Change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change(7)	Class and number of securities affected	Person’s votes affected
30-June-2017	KLGA	Allotment ex- rights	$0.03 per ordinary share	3,693,855 ordinary shares	3,693,855
18-Oct-2017	KLGA	Placement	$0.03 per ordinary share	3,926,018 ordinary shares	3,926,018
20-Aug-2018	KLGA	Placement	$0.05 per ordinary share	8,740,000 ordinary shares	8,740,000
09-Apr-2019	KLGA	Placement	$0.075 per ordinary share	8,819,784 ordinary shares	8,819,784
24-Oct-2019	KLGA	Placement	$0.11 per ordinary share	4,332,374 ordinary shares	4,332,374
02-Jun-2021	KL	Placement by Navarre pursuant to a subscription agreement	$0.10 per ordinary share	8,800,000 ordinary shares	8,800,000
19-Nov-2021	KL	Placement	$0.075 per ordinary share	78,317,934 ordinary shares	78,317,934