CASPIN RESOURCES LIMITED — Capital/Financing Update 2021

Jul 21, 2021

22 JULY 2021

ASX RELEASE

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Completion of Tranche 1 Placement

Caspin Resources Limited (ASX: CPN) (“ Caspin ” or the “Company ”) confirms that is has completed the first tranche of the ~$9.75m capital raising previously announced on 14 July 2021. The first tranche completes the raising of $9,206,514.00 via the placement of 9,206,514 fully paid ordinary shares in the Company (“ Shares ”) at $1.00 per Share to new and existing investors.

Please refer to the accompanying Appendix 2A which contains further details. The balance of the capital raising is proposed to be completed subject to shareholder approval at a shareholder meeting to be convened shortly.

Notice pursuant to Section 708A(5)(e) of the Corporations Act 2001

The Company gives notice pursuant to section 708A(5)(e) of the Corporations Act 2001 (Cth) (" Corporations Act ") that:

1. on 22 July 2021 the Company issued 9,206,514 Shares in respect of a placement;

2. the Company issued those Shares without disclosure to investors under Part 6D.2 of the Corporations Act;

3. the Company is providing this notice under section 708A(5)(e) of the Corporations Act;

4. as at the date of this notice, the Company has complied with:

   • a. the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

   • b. section 674 of the Corporations Act; and

5. as at the date of this notice, there is no "excluded information" within the meaning of sections 708A(7) and 708A(8) of the Corporations Act which is required to be disclosed by the Company.

This announcement is authorised for release by the Board of Caspin Resources Limited.

-ENDS-

For further details, please contact:

Greg Miles

Chief Executive Officer admin@caspin.com.au Tel: +61 8 6373 2000

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ABOUT CASPIN

Caspin Resources Limited (ASX Code: CPN ) is a new mineral exploration company based in Perth, Western Australia. Caspin’s strategy is to explore and progress its mineral resource projects, and where appropriate, generate, earn into, or acquire new projects with the aim of creating value for Caspin shareholders.

At the Yarawindah Brook Project, Caspin is exploring Australia’s newest PGE-Ni-Cu province, advancing exploration on multiple fronts using soil geochemistry and geophysics in search of new PGE-Ni-Cu sulphide deposits. Caspin has recently confirmed primary PGE mineralisation in its maiden drill program.

At the Mount Squires Project, Caspin has identified a 50km structural corridor with significant gold mineralisation. The Company will conduct further soil sampling and reconnaissance drilling to identify new targets along strike from the Handpump Prospect. Caspin will concurrently continue to evaluate the potential for Ni-Cu mineralisation along strike from the One Tree Hill Prospect and Nebo-Babel Deposits.

FOLLOW US

LinkedIn: https://www.linkedin.com/company/caspin-resources-limited Twitter: https://twitter.com/CaspinRes

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