AVIRA RESOURCES LTD — Capital/Financing Update 2021

Sep 16, 2021

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17 September 2021

The Manager Market Announcements Office Level 40, Central Park 152-158 St Georges Terrace PERTH WA 6000.

AVW PLACEMENT RAISES $1,375,000 TO ADVANCE EXPLORATION ACTIVITIES

Avira Resources Limited (ASX: AVW) ( Avira or the Company ) is pleased to announce it has received commitments for a placement of up to 343,750,000 fully paid ordinary shares ( Placement Shares ) at a price of $0.004 per share to raise $1,375,000 before costs.

Participants to the Placement will receive a 1 for 1 free attaching listed AVWO option exercisable at $0.01 on or before 10 July 2022 ( Placement Options ). The Placement price represents a 20% discount to the 15-day VWAP of AVW shares as at 16 September 2021.

The Placement was well supported by new and existing sophisticated and professional investors as defined by section 708 (8), (10) and (11) of the Corporations Act 2001.

Funds raised via the Placement will be applied to progressing the exploration activities on both Paterson Range and Wyloo projects, project generation activities and general working capital purposes.

CPS Capital Group Pty Ltd (ABN: 73 088 055 636) ( CPS ) have been engaged by the Company as Broker and Lead Manager to the Placement and retained as Corporate Advisor[1] .

Tranche 1 will be conducted under the Company’s current Placement capacity pursuant to ASX Listing Rule 7.1 and 7.1A as follows:

• ASX Listing Rule 7.1 (206,246,000 Placement Shares); and

• ASX Listing Rule 7.1A (137,504,000 Placement Shares).

The Tranche 2 issue of the remaining 343,750,000 free attaching 1 for 1 Placement Options will be subject to shareholder approval at the forthcoming Annual General Meeting which is anticipated to occur mid to late November 2021.

Placement Shares and Placement Options issued will rank equally with shares and options currently on issue. Settlement and issue of the Placement Shares is expected to occur on or around Thursday 23 September 2021.

Commenting on the announcement Avira’s Executive Director David Deloub said; “We are very pleased to again be working with and supported by CPS Capital Group to assist the Company in advancing its existing exploration projects and management of its capital requirements.”

Avira Resources Limited Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia T: 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au

ABN: 38 131 715 645

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1 CPS and or its Nominees will receive a Management fee of 1%, plus GST, for managing the Share placement. (“Management Fee”)

CPS and or its Nominees will receive a Placement fee of 5%, plus GST, for funds raised via the Placement. (“Placing Fee”). CPS and or its Nominees will receive 100,000,000 AVWO Options subject to shareholder approval at the forthcoming AGM (“Advisor Options”). These options are issued to the Advisor or its Nominee at $0.00001 per option to raise $1,000. CPS’s existing Corporate Advisory Mandate will be extended to be valid for a minimum of 12 months from execution of this appointment.

For, and on behalf of, the Board of the Company, and authorised for release.

David Deloub

Executive Director

Avira Resources Limited

Shareholders and other interested parties can speak to Mr Sonu Cheema if they have any queries in relation to this announcement: +618 6489 1600.

Avira Resources Limited Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia T: 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au

ABN: 38 131 715 645