Austral Gold Limited — Share Issue/Capital Change 2021

Feb 4, 2021

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5 February 2021

ASX Market Announcements Level 6, Exchange Centre 20 Bridge Street Sydney NSW 2000

Dear Sir/Madam

AUSTRAL GOLD LIMITED: SECTION 708A CLEANSING NOTICE

For the purposes of section 708A(5)(e) of the Corporations Act 2001 (Cth) (the “Corporations Act”), Austral Gold Limited (the “Company”) hereby provides notice that today the Company has issued 35,475,095 fully paid ordinary shares to Revelo Resources Corp. Shareholders as part consideration of the transaction as announced by the Company on 13 November 2020.

Please refer to the Appendix 2A for further details on this share issue.

Pursuant to the provisions of section 708A(5)(e) of the Corporations Act 200, the Company states that:

• (a) The securities were issued without disclosure under Part 6D.2 of the Corporations Act;

• (b) This notice is being given under section 708A(5)(e) of the Corporations Act;

• (c) As at the date of this notice, the Company has complied with:

  • (i) The provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

  • (ii) Section 674 of the Corporations Act; and

• (d) As at the date of this notice, there is no excluded information as defined in Sections 708A(6)(e), 708A(7) and 708A(8) of the Corporations Act.

For and on behalf of the Board,

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David Hwang Company Secretary Ph: +61 (2) 9698 5414

Austral Gold Limited ABN 30 075 860 472 ASX: AGD TSXV: AGLD Level 5 126 Phillip St, Sydney NSW 2000 | T +61 2 9380 7233 | F +61 2 9251 7455 | info@australgold.com | www.australgold.com