CAPRICORN METALS LTD — Capital/Financing Update 2020

Aug 4, 2020

5 August 2020

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Market Announcements Platform Australian Securities Exchange

CLEANSING NOTICE

Further to the ASX Announcement on 29 July 2020, Capricorn Metals Ltd (ASX: CMM) (“Capricorn” or the “Company”) has issued 17 million fully paid ordinary shares at an offer price of $1.90 per share (the “Placement”). The Placement was undertaken pursuant to ASX Listing Rule 7.1.

In accordance with section 708A(5)(e) of the Corporations Act 2001 (Cth) (“Corporations Act”), the Company gives notice that:

• (i) the above shares were issued without disclosure under Part 6D.2 of the Corporations Act;

• (ii) this notice is being given under paragraph 5(e) of section 708A of the Corporations Act;

• (iii) as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Corporations Act (as they apply to the Company) and section 674 of the Corporations Act; and

• (iv) as at the date of this notice, there is no 'excluded information' with respect to the Company for the purposes of sections 708A(7) and (8) of the Corporations Act.

An Appendix 2A reflecting the revised capital structure following the issue of the above securities has been released with this announcement.

For and on behalf of the Board

Tammie Dixon Chief Financial Officer & Company Secretary

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