CASPIN RESOURCES LIMITED — Capital/Financing Update 2024

Sep 29, 2024

30 SEPTEMBER 2024

ASX RELEASE

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Completion of Tranche 1 Placement and Cleansing Notice

Caspin Resources Limited (ASX: CPN) (“Caspin” or the “Company” ) confirms that it has completed the first tranche of the $1.6m capital raising previously announced on 23 September 2024. The first tranche consisted of raising ~$1.18m via the placement of 23,566,414 fully paid ordinary shares in the Company (“ Shares ”) at $0.05 per Share to new and existing institutional and sophisticated investors.

The Shares were issued using the Company's existing placement capacity available under ASX Listing Rules 7.1 and 7.1A.

The Company has also issued 855,624 new fully paid ordinary shares on the conversion of vested performance rights previously issued under the Company’s employee incentive plan.

Please refer to the accompanying Appendix 2A which contains further details.

Completion of the balance of the capital raising is subject to shareholder approval at the Company’s Annual General Meeting to be held in November.

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 30 September 2024 the Company issued 23,566,414 shares in respect of a placement and 855,624 shares on the conversion of vested performance rights;

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. sections 674 and 674A 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 under section 708A(6)(e) of the Corporations Act.

This announcement has been authorised for release to the ASX by the Board of Caspin Resources Limited.For further details, please contact:

Greg Miles Steven Wood Managing Director Company Secretary

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