CASTILE RESOURCES LTD — Regulatory Filings 2021

Aug 12, 2021

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12 August 2021

Ms Elizabeth Harris Manager, Listings Compliance (Perth) Level 40, Central Park 152-155 St Georges Terrace Perth WA 6000

By email

Dear Ms Harris

RE: Response to ASX Price and Volume Query

Castile Resources Limited (ASX: CST) ( CST or the Company ) refers to your Price and Volume Query letter dated 12 August 2021 and provides the following responses:

1. The Company is not in receipt of any material information that has not been announced to the market which, if known, could be an explanation for recent trading in the securities of the Company.

2. Not applicable.

3. The Company notes the following:

   • a. The Company is aware that Sydney stockbroker, Petra Capital released a research report on the Company last week. Whilst the Company has engaged with Petra on the preparation of this report, it did not commission the report and has so far had no discussions with Petra clients on this report.

   • b. As has been previously advised the Company continues with its current drill program at Tennant Creek ( Rover Drilling Program ). In line with that program the Company is regularly despatching cores for assay and has been advising of all material results as and when they come to hand. The Company confirms that at this point it is not in possession of any outstanding results, preliminary or final. The Company confirms it maintains confidentiality in respect to any results from the Rover Drilling Program until they are released via a market announcement.

As part of the Rover Drilling Program, the Company completed drilling of drill hole 21CRD002-2A on Sunday, 1st August 2021 and dispatched the core for assaying on Tuesday, 10th August 2021. Results of drill hole 21CRD002-2A are expected on or about Friday, 20th August 2021. The Company maintains confidentiality in respect to any results from the Rover Drilling Program, including drill hole 21CRD002-2A by ensuring that only employees directly involved with processing core are exposed to any assay results. The Company also has policies in place, such as its code of conduct and continuous disclosure policy, which apply to directors, officers, and employees of the Company in respect to dealing with confidential information.

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1. The Company confirms it is complying with the Listing Rules and, in particular, listing rule 3.1.

2. The Company confirms that the Company’s response has been authorised and approved by officers of the Company that have delegated authority from the Board to respond to ASX disclosure matters.

Regards

Sebastian Andre Company Secretary Castile Resources Limited

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12 August 2021

Reference: 38014

Mr Sebastian Andre Company secretary Castile Resources Limited 189 St Georges Terrace PERTH WA 6000

By email: seb@smallcapcorporate.com.au

Dear Mr Andre

Castile Resources Limited – Price and Volume Query

ASX refers to the following:

• A. The change in the price of CST’s securities from a closing price of $$0.185 on Wednesday 11 August 2021 to a high of $0.24 today, Thursday 12 August 2021.

• B. The significant increase in the volume of CST’s securities traded today.

Request for information

In light of this, ASX asks CST to respond separately to each of the following questions and requests for information:

1. Is CST aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities?

2. If the answer to question 1 is “yes”.

   • (a) Is CST relying on Listing Rule 3.1A not to announce that information under Listing Rule 3.1? Please note that the recent trading in CST’s securities would suggest to ASX that such information may have ceased to be confidential and therefore CST may no longer be able to rely on Listing Rule 3.1A. Accordingly, if the answer to this question is “yes”, you need to contact us immediately to discuss the situation.

   • (b) Can an announcement be made immediately? Please note, if the answer to this question is “no”, you need to contact us immediately to discuss requesting a trading halt (see below).

   • (c) If an announcement cannot be made immediately, why not and when is it expected that an announcement will be made?

3. If the answer to question 1 is “no”, is there any other explanation that CST may have for the recent trading in its securities?

4. Please confirm that CST is complying with the Listing Rules and, in particular, Listing Rule 3.1.

5. Please confirm that CST’s responses to the questions above have been authorised and approved under its published continuous disclosure policy or otherwise by its board or an officer of CST with delegated authority from the board to respond to ASX on disclosure matters.

When and where to send your response

ASX Customer Service Centre 131 279 | asx.com.au

ASX Limited [[Listings]]

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This request is made under Listing Rule 18.7. Your response is required as soon as reasonably possible and, in any event, by no later than 5:00 PM (AWST) Thursday, 12 August 2021 . You should note that if the information requested by this letter is information required to be given to ASX under Listing Rule 3.1 and it does not fall within the exceptions mentioned in Listing Rule 3.1A, CST’s obligation is to disclose the information ‘immediately’. This may require the information to be disclosed before the deadline set out in the previous paragraph and may require CST to request a trading halt immediately.

Your response should be sent to me by e-mail at ListingsCompliancePerth@asx.com.au . It should not be sent directly to the ASX Market Announcements Office. This is to allow me to review your response to confirm that it is in a form appropriate for release to the market, before it is published on the ASX Market Announcements Platform.

Trading halt

If you are unable to respond to this letter by the time specified above, or if the answer to question 1 is “yes” and an announcement cannot be made immediately, you should discuss with us whether it is appropriate to request a trading halt in CST’s securities under Listing Rule 17.1. If you wish a trading halt, you must tell us:

• the reasons for the trading halt;

• how long you want the trading halt to last;

• the event you expect to happen that will end the trading halt;

• that you are not aware of any reason why the trading halt should not be granted; and

• any other information necessary to inform the market about the trading halt, or that we ask for.

We require the request for a trading halt to be in writing. The trading halt cannot extend past the commencement of normal trading on the second day after the day on which it is granted. You can find further information about trading halts in Guidance Note 16 Trading Halts & Voluntary Suspensions .

Suspension

If you are unable to respond to this letter by the time specified above, ASX will likely suspend trading in CST’s securities under Listing Rule 17.3.

Listing Rules 3.1 and 3.1A

In responding to this letter, you should have regard to CST’s obligations under Listing Rules 3.1 and 3.1A and also to Guidance Note 8 Continuous Disclosure : Listing Rules 3.1 – 3.1B. It should be noted that CST’s obligation to disclose information under Listing Rule 3.1 is not confined to, nor is it necessarily satisfied by, answering the questions set out in this letter.

Release of correspondence between ASX and entity

We reserve the right to release a copy of this letter, your reply and any other related correspondence between us to the market under Listing Rule 18.7A.

Questions

If you have any questions in relation to the above, please do not hesitate to contact me.

2/3 ASX Customer Service Centre 131 279 | asx.com.au

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Yours sincerely

Elizabeth Harris

Manager, Listings Compliance (Perth)

3/3 ASX Customer Service Centre 131 279 | asx.com.au