CATALINA RESOURCES LTD — Capital/Financing Update 2019

Nov 5, 2019

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SHREE MINERALS LTD

RC Drilling commences at Golden Chimney

ASX Announcement 6[th] November 2019

ASX Code SHH

ACN 130 618 683

COMPANY DIRECTORS

Sanjay Loyalka Director and Company Secretary

Andy Lau

Non-Executive Director

Amu Shah

Non-Executive Director

Davide Bosio Non-Executive Director

CONTACT DETAILS

Principal & Registered Office Unit 38 18 Stirling Highway NEDLANDS WA 6009

www.shreeminerals.com

T +61 8 6118 1672 F +61 8 9389 1199

Following the positive results from the fieldwork and auger sampling (see ASX reports dated 20[th] August 2019 and 6[th] August 2019), Shree Minerals Ltd (“Shree” or the “Company”) is pleased to announce the commencement of the next phase of exploration with RC drilling at the Golden Chimney Project, exploration licence E40/378.

Previous fieldwork and auger sampling by Shree (see ASX reports dated 20[th] August 2019 and 6[th] August 2019), have identified outstanding coherent multielement geochemical anomalies at both Golden Chimney West and Golden Chimney East. Altered felsic volcanic rocks at Golden Chimney West are anomalous in Au, Bi and Ag. Previously unknown old gold workings were found at the Golden Chimney East gold and arsenic anomaly. Sampling of the mullock dumps returned assays up to 30 g/t Au.

Drilling has been planned for approximately 1500 metres covering geochemical anomalies over there areas, Golden Chimney, Golden Chimney West and Golden Chimney East

GOLDEN CHIMNEY PROJECT

The project occupies an area of 65.4km² and is located 40km south of Leonora, within the prolifically mineralised Leonora Geological Terrain (Figure 1). Significant gold deposits in the area include the Sons of Gwalia Gold mine (1.9 Moz Au in reserve at a grade of 7.5 g/t Au), the King of the Hills Mine (resources of 380,000oz Au), Tower Hill (625,000oz Au in resources) and Ulysses (760,000oz Au in resources).

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Figure 1. Regional location of the Golden Chimney Project, E40/378.

SHREE MINERALS LIMITED | ACN 130 618 683 www.shreeminerals.com

Next Steps

Drilling is expected to take approximately two weeks with results expected in a further six weeks. The Company will update the market following analysis of the results.

About Shree Minerals Limited

Shree Minerals Limited is an exploration and mine development company including being engaged in mining and production of iron ore and dense media magnetite at its Nelson Bay River Iron Project in the north-western Tasmania.

Contact Details

Sanjay Loyalka Executive Director +61 8 6118 1672

Davide Bosio Non-Executive Director +61 8 9263 5210

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