Austral Gold Limited — Capital/Financing Update 2021

Jun 10, 2021

Application for quotation of +securities

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Announcement Summary

Entity name

AUSTRAL GOLD LIMITED

Announcement Type

New announcement

Date of this announcement

Wednesday June 09, 2021

The +securities to be quoted are:

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Other

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
AGD	ORDINARY FULLY PAID	1,000,000	09/06/2021

Refer to next page for full details of the announcement

Application for quotation of +securities

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Application for quotation of +securities

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Part 1 - Entity and announcement details

1.1 Name of entity

AUSTRAL GOLD LIMITED

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type

ACN

Registration number 075860472

1.3 ASX issuer code

AGD

1.4 The announcement is

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New announcement

1.5 Date of this announcement

9/6/2021

Application for quotation of +securities

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Application for quotation of +securities

Part 2 - Type of Issue

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2.1 The +securities to be quoted are:

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Other

2.2 The +securities to be quoted are:

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Additional +securities in a class that is already quoted on ASX ("existing class")

2.3c Have these +securities been offered under a +disclosure document or +PDS?

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No

2.3d Please provide any further information needed to understand the circumstances in which you are applying to have these +securities quoted on ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Shareholder approval was obtained on 27 May 2021 for the issue of shares to Stabro Kasaneva, Chief Executive Officer, to reward Mr Kasaneva for his past performance, and incentivise him for future performance. The shares will be voluntarily escrowed for up to 3 years from the date of issue.

Further details are set out in the notice of meeting dated 23 April 2021.

2.4 Any on-sale of the +securities to be quoted within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of:

Not applicable - the entity has arrangements in place with the holder that ensure the securities cannot be on-sold within 12 months in a manner that would breach section 707(3) or 1012C(6)

Application for quotation of +securities

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Application for quotation of +securities

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Part 3B - number and type of +securities to be quoted (existing class) where issue has not previously been notified to ASX in an Appendix 3B

Additional +securities to be quoted in an existing class

ASX +security code and description AGD : ORDINARY FULLY PAID

Issue date

9/6/2021 Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Issue details

Number of +securities to be quoted 1,000,000 Are the +securities being issued for a cash consideration? No Please describe the consideration being provided for the +securities

The shares will be issued for nil consideration. However deemed value that the Company attributes to each share will be the closing price of the Company¿s Shares traded on the ASX when issued.

Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted

0.165000 Any other information the entity wishes to provide about the +securities to be quoted N/A

The purpose(s) for which the entity is issuing the securities Other

Please provide additional details

The purpose of the issue of shares is to remunerate and incentivise the Chief Executive Officer.

Application for quotation of +securities

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Application for quotation of +securities

Part 4 - Issued capital following quotation

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Following the quotation of the +securities the subject of this application, the issued capital of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +securities (total number of each +class of +securities quoted on ASX following the +quotation of the +securities subject of this application)

Total number of ASX +security code and description +securities on issue AGD : ORDINARY FULLY PAID 602,550,001 4.2 Unquoted +securities (total number of each +class of +securities issued but not quoted on ASX) Total number of ASX +security code and description +securities on issue AGDAI : OPTION EXPIRING 18-OCT-2021 EX 9.2C 10,131,883

4.2 Unquoted +securities (total number of each +class of +securities issued but not quoted on ASX)

Application for quotation of +securities

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Application for quotation of +securities

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Part 5 - Other Listing Rule requirements

5.1 Are the +securities being issued under an exception in Listing Rule 7.2 and therefore the issue does not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

27/5/2021

Application for quotation of +securities

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