CASTILE RESOURCES LTD — Capital/Financing Update 2020

Oct 29, 2020

30 October 2020

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ASX Announcement

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SALE OF SHARES FROM LESS THAN MARKETABLE PARCEL SHARE SALE FACILITY COMPLETE

Castile Resources Limited (ASX:CST) (“Castile” or “the Company”) announces that the sale of the shares associated with the facility (“Facility”) established for holders of less than a marketable parcel of Castile shares that closed on 19 October 2020 has been completed and the funds received. Please see Castile’s ASX announcement dated 1 September 2020 for further information about the Facility.

A marketable parcel of shares is defined in the ASX Listing Rules as a parcel of shares that has a market value of not less than $500. Based on the closing price on ASX of Castile shares of $0.27 on the Facility’s record date of 28 August 2020, a less than a marketable parcel of Castile shares was 1,851 Castile shares or fewer. As at the record date, there were 4,191 holdings of Castile shares of less than a marketable parcel (from a total of 6,123 holdings), totalling 2,044,884 Castile shares and constituting approximately 1.02% of the 199,710,121 total Castile shares on issue.

The Facility gave Castile shareholders the option to retain their shares and as a result the final number of Castile shares sold under the Facility was 1,536,812 Castile shares from 3,387 shareholders for total proceeds of $599,356.68 which have now been received by Castile from its broker. Participants in the Facility will receive a proportionate share of the total sale proceeds from Castile shares sold on their behalf under the Facility. All costs associated with the facility will be met by Castile and relevant participants will receive the proceeds of the sale as soon as practicable.

The close of the Facility will reduce the number of Castile shareholders to approximately 2,800 and will reduce Castile’s administrative costs associated with maintaining a large number of relatively small holdings on its share register.

Mark Hepburn Managing Director Castile Resources Limited

For further information please contact Mark Hepburn. Email: info@castile.com.au Phone: +61 8 9488 4480 7/189 St Georges Terrace, Perth WA 6000

This announcement was approved for release by Castile’s Managing Director, Mark Hepburn.