CLASSIC MINERALS LTD — Capital/Financing Update 2020

Jun 17, 2020

Proposed issue of securities

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Announcement Summary

Entity name

CLASSIC MINERALS LTD

Announcement Type

New announcement

Date of this announcement

Thursday June 18, 2020

The Proposed issue is:

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A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

		Maximum Number of
ASX +Security Code	+Security Description	+securities to be issued
CLZ	ORDINARY FULLY PAID	1,171,591,554
CLZAB	OPTION EXPIRING 01-MAR-2022 EX 0.2C	458,000,000

Proposed +issue date

Thursday June 18, 2020

Refer to next page for full details of the announcement

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Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

CLASSIC MINERALS LTD

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2 Registered Number Type

ABN

Registration Number

77119484016

1.3 ASX issuer code

CLZ

1.4 The announcement is

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New announcement

1.5 Date of this announcement

Thursday June 18, 2020

1.6 The Proposed issue is:

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A placement or other type of issue

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity

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No

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +Security Code and Description

CLZ : ORDINARY FULLY PAID

Maximum Number of +securities proposed to be issued

181,704,233

Purpose of the issue

181,704,233 shares issued at a deemed price of $ 0.001 per share for the Retirement of debts totalling $ 181,704.00;

Offer price details for retail security holders

In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.00100

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

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Oversubscription & Scale back details

May a scale back be applied to this event?

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No

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +Security Code and Description

CLZ : ORDINARY FULLY PAID

Maximum Number of +securities proposed to be issued 349,887,321

Purpose of the issue

349,887,321 shares issued at a deemed price of $ 0.001 per share for the Retirement of loans totalling $ 349,887.32

Offer price details for retail security holders

In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.00100

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Oversubscription & Scale back details

May a scale back be applied to this event? No

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? No

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Details of +securities proposed to be issued

ASX +Security Code and Description

CLZ : ORDINARY FULLY PAID

Maximum Number of +securities proposed to be issued 640,000,000

Purpose of the issue

640,000,000 shares issued at a deemed price of $ 0.001 per share for raising working capital totalling $ 640,000.00

Offer price details for retail security holders

In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.00100

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Oversubscription & Scale back details

May a scale back be applied to this event? No

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? Existing class

Details of +securities proposed to be issued

ASX +Security Code and Description

CLZAB : OPTION EXPIRING 01-MAR-2022 EX 0.2C

Maximum Number of +securities proposed to be issued

428,000,000

Purpose of the issue

428,000,000 Unquoted Options, Exercisable at $ 0.002 on or before 01 March 2022, issued at an issue price of $ 0.0001 to raise working capital totalling $ 42,800.00

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Offer price details for retail security holders In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.00010 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes Oversubscription & Scale back details May a scale back be applied to this event? No

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? Existing class

Details of +securities proposed to be issued

ASX +Security Code and Description CLZAB : OPTION EXPIRING 01-MAR-2022 EX 0.2C Maximum Number of +securities proposed to be issued 30,000,000 Purpose of the issue

30,000,000 Unquoted Options, Exercisable at $ 0.002 on or before 01 March 2022, issued for NIL consideration.

Offer price details for retail security holders

In what currency is the cash What is the issue price per consideration being paid? +security? Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes Oversubscription & Scale back details May a scale back be applied to this event? No

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Part 7C - Timetable 7C.1 Proposed +issue date Thursday June 18, 2020 Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes 7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?

1,171,591,554 Shares, and 55,000,000 Unlisted Options. 7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

7D.2 Is a party referred to in listing rule 10.11.1 participating in the proposed issue? No 7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? No 7E.2 Is the proposed issue to be underwritten? No

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7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Part 7F - Further Information

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

At the General Meeting of the Company held on 18 June 2020, Resolution 11 was proposed: ¿That the issue of up to 403,000,000 Placement Options to the Placement Participants is approved under and for the purposes of Listing Rule 7.4.¿

As this Resolution was passed the 403,000,000 Unlisted Options have been issued as detailed under this Appendix 3B

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