CLASSIC MINERALS LTD — Capital/Financing Update 2022

Sep 8, 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

09 September 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 during Aug/Sept 2022 :

• a. 10,604,000 fully paid ordinary shares at a deemed issue price of $ 0.04 per share,

• b. 9,444,444 fully paid ordinary shares at a deemed issue price of $ 0.029 per share,

• c. 2,314,815 fully paid ordinary shares at a deemed issue price of $ 0.0216 per share,

• d. 6,370,192 fully paid ordinary shares at a deemed issue price of $ 0.0208 per share,

• e. 2,500,000 fully paid ordinary shares at a deemed issue price of $ 0.020 per share,

• f. 1,887,932 fully paid ordinary shares at a deemed issue price of $ 0.050 per share,

• g. 1,250,000 fully paid ordinary shares at a deemed issue price of $ 0.020 per share,

• h. 5,000,000 CLZOA Options for nil consideration under the terms of the Advisor Fees for Convertible Note,

• i. 9,064,725 CLZUOPT23 nil consideration under the terms of the Convertible Note, and

• j. 944,024 CLZPBOPT22 Options for nil consideration under the terms of the exercise of the Loyalty Options.

(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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