CATALYST METALS LIMITED — Capital/Financing Update 2019

Jun 16, 2019

ASX ANNOUNCEMENT

17 JUNE 2019

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NON RENOUNCEABLE PRO-RATA OFFER OF OPTIONS

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The directors of Catalyst Metals Limited ( Catalyst ) are pleased to formally announce a nonrenounceable pro-rata entitlement offer of Options on the basis of one (1) Option for every ten (10) Shares held, at an issue price of 2 cents per Option to raise up to approximately $157,785 before costs ( Offer ).

Each Option will be exercisable into one fully paid share in Catalyst at $2.45 each on or before 31 May 2022. If the Offer is fully subscribed and all Options are subsequently exercised, Catalyst will raise approximately a further $19.3 million.

The exercise price of $2.45 is 24% higher than the volume weighted average price for the 5 days Shares traded on ASX up to and including 13 June 2019 of $1.97. The Company does not presently intend to apply for quotation of the Options but retains the right to do so in the future.

The maximum number of Options to be issued under the Offer is 7,889,244 (based on the undiluted share capital of Catalyst as at the close of trade on 14 June 2019, without taking into account the impact of rounding).

The Offer is non-renounceable. This means that shareholders’ entitlements to subscribe for Options under the Offer are not transferable.

The Company intends to use the limited funds raised by the Offer after costs, towards working capital requirements. The application of funds raised from the exercise of any Options will depend on when the Options are exercised and the Company’s requirements at the relevant time.

Options being offered under the Offer will only be offered to registered holders of shares with registered addresses in Australia, New Zealand, Hong Kong and Singapore as at 5:00 pm Perth time on 20 June 2019 ( Eligible Shareholders ).

Full details of the Offer and the terms and conditions of the Options are set out in the Prospectus and Appendix 3B lodged with ASX today.

The Prospectus will be sent to Eligible Shareholders on 25 June 2019.

44 Kings Park Road, West Perth WA 6005 PO Box 778, Claremont WA 6910 Telephone: (61-8) 6263 4423 Facsimile: (61-8) 9284 5426 www.catalystmetals.com.au ABN 54 118 912 495

The anticipated timetable for the Offer is as follows:

Event	Date
Announcement of Offer	17 June 2019
Lodgement of Prospectus with ASIC,ASX and NZCO	17 June 2019
Lodgement of Appendix 3B with ASX	17 June 2019
Notice to shareholders	18 June 2019
Ex Date(securitiesquoted on an ex entitlement basis)	19 June 2019
Record Date for determiningEligible Shareholders	5.00pm(Perth time)on 20 June 2019
Despatch of Prospectus to Eligible Shareholders	25 June 2019
Offer opens	25 June 2019
Applicationprocess available through Raisemetrex web-site	25 June 2019
Last date to extend ClosingDate	18 July2019
Closing Date	5.00 pm (Perth time) on 23 July 2019 (unless extended)
Shortfall notification date	26 July2019
Allotment of Options	30 July2019
Despatch of holdingstatements for Options	5 August 2019

Catalyst reserves the right to amend this timetable subject to the Listing Rules.

Shareholders are encouraged to read the Prospectus carefully and seek advice from their professional adviser if required.

For further information contact:

Steve Boston Chairman Telephone: +61 409 574 515