CORE ENERGY MINERALS LTD — Capital/Financing Update 2021

Jul 8, 2021

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9 July 2021

SMALL SHARE PARCEL SALE FACILITY

Oar Resources Limited ( ASX: OAR ) ( “Oar” or “the Company” ) advises shareholders that the Company is implementing a share sale facility (“ Facility ”) for holders of parcels of Oar ordinary shares (“ Shares ”) valued at less than $500 (“ Small Share Parcel ”), which are also sometimes referred to as an unmarketable parcel. The Facility is being established in accordance with the Company’s Constitution and the ASX Listing Rules.

The record date for the purposes of establishing holders of Small Share Parcels has been set at close of trade on 9 July 2021 (“ Record Date ”).

Based on the Company’s share price of $0.015 as at close of trade on the Record Date, a Small Share Parcel is any shareholding of 33,333 Shares or less. Accordingly, as at the Record Date there were 1,897 holders of Small Share Parcels. These holdings represent as total of 21,507,730 shares, being 1.18% of the Company’s Shares on issue.

Oar is entitled to sell, on the shareholder’s behalf, Small Share Parcels. The Company will pay for the costs of the sale, excluding tax consequences arising from the sale which remain the responsibility of the individual shareholders.

The Company values all of its shareholders. However, it incurs significant administrative costs maintaining a large number of Small Share Parcels. By facilitating the sale of Small Share Parcels, Oar expects to reduce its administrative costs. Holders of Small Share Parcels may benefit by being able to dispose of their holdings without incurring brokerage or other sale costs.

If shareholders holding a Small Share Parcel wish to sell Shares through this Facility, they do not need to take any action.

If shareholders holding a Small Share Parcel do not wish to sell shares through this Facility, they must complete the Share Sale Election Form and return it to the address on the form, so that it is received by 5pm (WST) on 27 August 2021.

Upon the sale of the Small Share Parcel Shares by the Company, proceeds shall be forwarded to eligible shareholders by EFT (provided direct credit payment details have been provided to the share registry) or cheque.

Attached is a copy of the Shareholder Letter which has been dispatched to all shareholders holding a Small Share Parcel on the Record Date.

“This Announcement has been authorised for release to ASX by the Board of Oar Resources Limited”

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For further information please contact:

Chris Gale Executive Chairman Oar Resources Ltd. P: +61 8 6117 4797

James Moses Media & Investor Relations Mandate Corporate E: james@mandatecorporate.com.au

About Oar Resources Limited

Oar Resources Limited is an ASX listed precious metals explorer and aspiring producer. Oar has acquired 100% of Australian Precious Minerals Pty Ltd, holder of the Crown Project in Western Australia. Crown is situated near Chalice Mining’s world-class Julimar polymetallic discovery. Oar has also acquired 100% of Alpine Resources’ gold exploration projects in the highly prospective gold province of Nevada, United States - ranked the third best mining jurisdiction in the world. These projects are in an area that hosts several multi-million-ounce deposits. Oar, through its wholly owned subsidiary Lymex Tenements Pty Ltd holds a number of tenements on the South Australian Eyre Peninsular which are considered highly prospective for kaolinite and halloysite mineralisation, graphite, iron ore and other commodities. In addition, Oar’s Peruvian subsidiary, Ozinca Peru SAC, owns a CIP Gold lixiviation plant, strategically located proximal to thousands of small gold miners in Southern Peru.