BLAZE MINERALS LIMITED — Capital/Financing Update 2019

May 29, 2019

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30 May 2019

ASX Compliance Pty Limited ( ASX ) Level 40, Central Park 152-158 St George's Terrace Perth WA 6000

ENTITLEMENT OFFER – DESPATCH OF PROSPECTUS

Blaze International Limited ( Blaze or the Company ) (ASX: BLZ ) wishes to confirm that the Entitlement Issue Prospectus ( Prospectus ) dated 21 May 2019 has been sent to all eligible shareholders, as per the timetable in the Prospectus.

On 23 May 2019, the Company sent personalised letters to every shareholder of the Company informing them of their eligibility to participate in the entitlement issue. Attached to this announcement as Annexure A and Annexure B are the Letters to Eligible Shareholders and Letters to Ineligible Shareholders, respectively.

For, and on behalf of, the board of the Company,

Blaze International Limited Tel: (+61 8) 6489 1600 info@blazelimited.com.au

Forward-Looking Statements

This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Blaze International Limited’s planned exploration program and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may”, "potential," "should," and similar expressions are forward-looking statements. Although Blaze International Limited believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

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Suite 9, 330 Churchill Avenue, Subiaco W A 6008 PO Box 866 Subiaco W A 6904 66 Subiaco W A 6904 Telephone: +61 8 6489 1600 Facsimile: +61 8 6489 1601

ABN 15 074 728 019

w ww.blazelimited.com.au

ANNEXURE A

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23 May 2019

Dear Shareholder

BLAZE INTERNATIONAL LIMITED – PRO-RATA NON-RENOUNCEABLE ENTITLEMENT OFFER

As announced on 21 May 2019, Blaze International Limited (ACN 074 728 019) ( Blaze or the Company ) is undertaking a non-renounceable entitlement issue of one (1) option ( Option ) for every two (2) fully paid ordinary shares in the capital of the Company ( Shares ) held by eligible shareholders registered at the record date at an issue price of $0.001 per Option ( Entitlement Offer ).

The Company lodged a prospectus for the Entitlement Offer ( Prospectus ) with ASIC and ASX on 21 May 2019

The funds raised under the Entitlement Offer, being up to $105,000, will provide working capital and future exploration funding for the Company’s projects.

The Entitlement Offer is being made to all shareholders of the Company ( Shareholders ) named on its register of members at 5:00pm (WST) on 27 May 2019, whose registered address is in Australia or New Zealand.

The Options issued under the Entitlement Offer will be exercisable at $0.05 each on or before 5:00 pm (WST) on 31 March 2022. Shares issued on exercise of the Options will rank equally with all fully paid ordinary shares in the capital of the Company already on issue.

A copy of the Prospectus is available on ASX’s and Blaze’s website. Eligible Shareholders will be mailed a Prospectus together with an Entitlement and Acceptance Form no later than 30 May 2019. Your entitlement will be set out on the personalised Entitlement and Acceptance Form accompanying the Prospectus.

For the purposes of calculating each Eligible Shareholders’ entitlement, fractions of entitlements have been rounded down to the nearest whole number of Options.

Actions required of Eligible Shareholders

There are a number of actions Eligible Shareholders may take:

• You may wish to accept all of your rights to subscribe for Options pursuant to the Prospectus ( Entitlement ). To take up all or some of your Entitlements you will need to ensure your application money for the Entitlements you wish to take up is received by Automic Share Registry ( Share Registry ) by no later than 5:00pm (WST) on 11 June 2019, by completing and returning your Entitlement and Acceptance Form together with your cheque, drawn on an Australian bank or bank draft made payable in Australian currency, for the amount indicated on the Entitlement and Acceptance Form or by making a payment by BPAY in accordance with the instructions on your Entitlement and Acceptance Form.

Address Suite 9, 330 Churchill Avenue, Subiaco WA 6008 | Postal Address PO Box 866, Subiaco WA 6904 Telephone 08 6489 1600 | Fax 08 6489 1601 | Website www.blazelimited.com.au

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• To take up all or some of your Entitlements and apply for shortfall under the Shortfall Offer ( Shortfall ) you will need to ensure your application money for the Entitlements and the Shortfall you wish to accept in the space provided on the Entitlement and Acceptance Form together with your cheque, drawn on an Australian bank or bank draft made payable in Australian currency, for the appropriate application monies or by making a payment by BPAY in accordance with the instructions on your Entitlement and Acceptance Form (at $0.001 per Option).

• You may wish to accept part of your Entitlement. To take up part of your Entitlement you will need to ensure your application money for the Entitlements you wish to take up is received by the Share Registry by no later than 5:00pm (WST) on 11 June 2019, by completing and returning your Entitlement and Acceptance Form by filling in the number of Options you wish to accept in the space provided on the Entitlement and Acceptance Form together with your cheque, drawn on an Australian bank or bank draft made payable in Australian currency, for the appropriate application monies or by making a payment by BPAY in accordance with the instructions on your Entitlement and Acceptance Form (at $0.001 per Option).

• You may do nothing. If you choose to do nothing with your Entitlements, you will not be issued any Options.

Key dates for the Entitlement Offer

Event	Date
Announcement of Entitlement Offer	Tuesday, 21 May 2019
Lodgement of Prospectus with the ASIC	Tuesday, 21 May 2019
Lodgement of Prospectus & Appendix 3B with ASX	Tuesday, 21 May 2019
Notice sent to Shareholders	Thursday, 23 May 2019
Ex date	Friday, 24 May 2019
Record Date for determining Entitlements	Monday, 27 May 2019
Prospectus despatched to Shareholders & Company announces despatch has been completed	Thursday, 30 May 2019
Last day to extend Closing Date	Wednesday, 5 June 2019
Closing Date*	Tuesday, 11 June 2019
Securities quoted on a deferred settlement basis	Wednesday, 12 June 2019
ASX notified of under subscriptions	Friday, 14 June 2019
Issue date, despatch of holding statements and deferred settlement trading ends	Tuesday, 18 June 2019
Quotation of Options issued under the Entitlement Offer*	Wednesday, 19 June 2019

Address Suite 9, 330 Churchill Avenue, Subiaco WA 6008 | Postal Address PO Box 866, Subiaco WA 6904 Telephone 08 6489 1600 | Fax 08 6489 1601 | Website www.blazelimited.com.au

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*The Directors may extend the Closing Date by giving at least 3 Business Days’ notice to ASX prior to the Closing Date. As such the date the Options are expected to commence trading on ASX may vary.

If you have any queries concerning the Entitlement Offer, please contact your financial adviser or Quinton Meyers, Blaze’s Company Secretary, on +61 8 6489 1600.

Yours sincerely

Josh Puckridge Non-Executive Chairman

Address Suite 9, 330 Churchill Avenue, Subiaco WA 6008 | Postal Address PO Box 866, Subiaco WA 6904 Telephone 08 6489 1600 | Fax 08 6489 1601 | Website www.blazelimited.com.au

ANNEXURE B

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23 May 2019

Dear Shareholder

BLAZE INTERNATIONAL LIMITED – PRO-RATA NON-RENOUNCEABLE ENTITLEMENT OFFER

As announced on 21 May 2019, Blaze International Limited (ACN 074 728 019) ( Blaze or the Company ) is undertaking a non-renounceable entitlement issue of one (1) option ( Option ) for every two (2) fully paid ordinary shares in the capital of the Company ( Shares ) held by eligible shareholders registered at the record date at an issue price of $0.001 per Option ( Entitlement Offer ).

The Company lodged a prospectus for the Entitlement Offer ( Prospectus ) with ASIC and ASX on 21 May 2019.

The funds raised under the Entitlement Offer, being up to $105,000, will provide working capital and future exploration funding for the Company’s projects.

The Entitlement Offer is being made to all shareholders of the Company ( Shareholders ) named on its register of members at 5:00pm (WST) on 27 May 2019, whose registered address is in Australia or New Zealand.

The Options issued under the Entitlement Offer will be exercisable at $0.05 each on or before 5:00 pm (WST) on 31 March 2022. Shares issued on exercise of the Options will rank equally with all fully paid ordinary shares in the capital of the Company already on issue.

Ineligible shareholders

A Shareholder who has a registered address outside Australia and New Zealand ( Ineligible Shareholder ) will not be eligible to participate in the Entitlement Offer.

You are not eligible to participate in the Entitlement Offer and you will not be sent a copy of the Prospectus. This decision has been made pursuant to Listing Rule 7.7.1(a) of the ASX Listing Rules after taking into consideration the costs of complying with legal and regulatory requirements in jurisdictions outside of Australia and New Zealand compared with the small number of Ineligible Shareholders and the number and value of Options to which they would otherwise be entitled.

If you have any queries concerning the Entitlement Offer, please contact your financial adviser or Quinton Meyers, Blaze’s Company Secretary, on +61 8 6489 1600.

Yours sincerely

Josh Puckridge Non-Executive Chairman

Address Suite 9, 330 Churchill Avenue, Subiaco WA 6008 | Postal Address PO Box 866, Subiaco WA 6904 Telephone 08 6489 1600 | Fax 08 6489 1601 | Website www.blazelimited.com.au