Celsius Resources Limited — Capital/Financing Update 2023

May 16, 2023

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ASX RELEASE

17 MAY 2023

Cleansing Notice Notice Under Section 708A(5)(e) of the Corporations Act

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On 16 May 2023, Celsius Resources Limited (ASX:CLA) (Celsius or the Company) has issued 333,333,333 new fully paid ordinary shares (“ Shares ”) at A$0.012 per share to Silvercorp Metals Inc., in accordance with the terms of its Subscription Agreement which was announced on 15 May 2023. The issue of Shares was undertaken pursuant to the Company’s existing capacity under ASX Listing Rule 7.1 and 7.1A as follows:

• ASX Listing Rule 7.1 (269,036,320 Shares); and

• ASX Listing Rule 7.1A (64,297,013 Shares).

For the purposes of section 708A(6) of the Corporations Act 2001 (Cth) (Corporations Act), the Company gives notice under section 708A(5)(e) of the Corporations Act as follows:

• a) the Company issued the Shares without disclosure to investors under Part 6D.2 of the Corporations Act;

• b) as at the date of this notice the Company has complied with:

  • i) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and ii) section 674 of the Corporations Act; and

• c) as at the date of this notice, there is no excluded information of the type referred to in sections 708A(7) and 708A(8) of the Corporations Act.

This announcement has been authorised by the Board of Directors of Celsius Resources Limited.

Celsius Resources Contact Information

Level 5, 191 St Georges Terrace Perth WA 6000 PO Box 7059 Cloisters Square PO Perth, WA 6850

Media contact

Jon Cuthbert Multiplier Media M: +61 402 075 707 E: jon.cuthbert@multiplier.com.au

P: +61 2 8072 1400 E: info@celsiusresources.com.au W: www.celsiusresources.com.au

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Level 5, 191 St Georges Terrace, Perth WA 6000 PO Box 7059, Cloisters Square PO, Perth WA 6850 P: +61 2 8072 1400 E: info@celsiusresources.com.au celsiusresources.com.au