CLASSIC MINERALS LTD — Capital/Financing Update 2023

Jan 26, 2023

CLASSIC MINERALS LIMITED

71 Furniss Rd, Landsdale Western Australia 6065

==> picture [34 x 842] intentionally omitted <==

==> picture [290 x 76] intentionally omitted <==

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

27 January 2023

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 25 January 2023 :

• i. 30,215,780 fully paid ordinary shares at a deemed issue price of $ 0.0160 per share,

• ii. 21,042,000 fully paid ordinary shares at a deemed issue price of $ 0.0100 per share,

• iii. 15,200,000 CLZOA Options for nil consideration under the terms of loan agreements,

• iv. 15,107,890 CLZOPT24 Options for nil consideration under the terms of the Rights Issue,

• v. 30,000,000 CLZUOPT25 Options for nil consideration under the terms of Convertible Note fees as per Resolution 15 of 25 Jan General Meeting. And

• vi. 59,614,678 CLZUOPT26 Options for nil consideration under the terms of LDA Capital fees as per Resolution 17 of 25 Jan General Meeting

(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,

==> picture [133 x 58] intentionally omitted <==

Madhukar Bhalla

Company Secretary

Page 1 of 1