CLASSIC MINERALS LTD — Capital/Financing Update 2022

Oct 31, 2022

CLASSIC MINERALS LIMITED

71 Furniss Rd, Landsdale Western Australia 6065

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ASX: CLZ | ABN 77 119 484 016 contact@classicminerals.com.au

01 November 2022

Section 708A Cleansing Statement

This notice is given by Classic Minerals Limited (Company) under Section 708A(5)(e) of the Corporations Act 2001 (Cth) (Corporations Act).

The Company hereby confirms that:

(a) the Company has issued on 01 November 2022 :

• i. 4,117,647 fully paid ordinary shares at a deemed issue price of $ 0.017 per share,

• ii. 600,000 CLZOA Options nil consideration under the terms of the loan agreement,

• iii. 49,333,334 fully paid ordinary shares at an issue price of $ 0.015 per share, and iv. 12,333,333 CLZOA Options nil consideration under the terms of the Placement.

• (b) the shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

(c) As a disclosing entity the company is subject to regular reporting and disclosure obligations;

(d) 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 as it applies to the Company; and

(e) 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.

Yours Sincerely,

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Madhukar Bhalla

Company Secretary

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