CAZALY RESOURCES LIMITED — Capital/Financing Update 2020

Dec 9, 2020

ASX Release

10 December 2020

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Corporate Directory

70% Interest Earned at McKenzie Springs Project

• Fin Resources Limited (ASX: FIN) is pleased to announce that it has completed its Farm-In right as per the Heads of Agreement (“Agreement”) with Sammy Resources Pty Ltd (a wholly owned subsidiary of Cazaly Resources Limited ASX:CAZ), to earn an additional 19% in Exploration Licence 80/4808, the McKenzie Springs Project, located in the Kimberley region of Western Australia (see Figure 2).

Non-Executive Director Jason Bontempo

Non-Executive Director Simon Mottram

Non-Executive Director Andrew Radonjic

Company Secretary Aaron Bertolatti

• This completes the Farm-In stage of the agreement where FIN now holds a 70% interest and CAZ a 30% interest in the McKenzie Springs Project. Each party will now be required to contribute to future exploration expenditure according to their interest.

• Assay results from the recently completed maiden drill program at McKenzie Springs are still pending. Results will be released to market as soon as possible.

• FNDD001 has been sampled and is awaiting assay. The remaining two holes are currently being processed. The Company has prioritised the sulphide zones within FNDD002 (see Figure 1) for assaying.

• A number of highly encouraging conductors were defined by the Downhole Electromagnetic survey that was completed as scheduled on all three drillholes. Their prospectivity will be assessed in conjunction with the pending assay results and completed geological, structural and petrological logging, to determine future exploration programmes.

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Registered Office 35 Richardson Street West Perth WA 6005

info@finresources.com.au www.finresources.com.au

Figure 1 | Photo of the semi-massive sulphide zone in FNDD002.

ABN: 25 009 121 644

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Figure 2 | Location Map

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Authorised for release by: Jason Bontempo - Non-Executive Director

For further information contact:

Jason Bontempo +61 8 6117 0453 info@finresources.com.au

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www.finresources.com.au