DELTA LITHIUM LIMITED — Capital/Financing Update 2020

May 10, 2020

Proposed issue of securities

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Announcement Summary

Entity name

TNT MINES LIMITED

Announcement Type

New announcement

Date of this announcement

Monday May 11, 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 n/a Performance Rights 2,750,000

Proposed +issue date

Monday June 29, 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

TNT MINES LIMITED

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

67107244039

1.3 ASX issuer code

TIN

1.4 The announcement is

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New announcement

1.5 Date of this announcement

Monday May 11, 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 Yes

7A.1a Conditions

Approval/Condition	Date for determination	Is the date estimated or	** Approval
Other (please specify in	Monday May 25, 2020	actual?	received/condition met?
comment section)		Estimated
Comments
Subject to the satisfaction (or waiver) of the conditions precedent to the Company's proposed acquisition of 100% of the
issued share capital of Vanacorp Aust Pty Ltd, as detailed in the Company's announcement			dated 11 May 2020, including
ASX approval of the proposed performance milestones.
Approval/Condition	Date for determination	Is the date estimated or	** Approval
+Security holder approval	Monday June 22, 2020	actual?	received/condition met?
		Estimated
Comments

Subject to shareholder approval at a general meeting of shareholders to be held in June 2020.

Part 7B - Issue details

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)?
New class

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

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Have you received confirmation from Will the entity be seeking quotation ASX that the terms of the proposed of the 'new' class of +securities on +securities are appropriate and ASX? equitable under listing rule 6.1? No No ASX +Security Code +Security Description New class-code to be confirmed Performance Rights

+Security Type

Performance options/rights

Maximum Number of +securities proposed to be issued

2,750,000

Purpose of the issue

Part consideration for the Company's proposed acquisition of 100% of the issued share capital of Vanacorp Aust Pty Ltd. Non-cash issue, valued at AUD $0.10 per security.

Offer price details for retail security holders

In what currency is the cash consideration being paid?

What is the issue price per +security?

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Oversubscription & Scale back details

May a scale back be applied to this event? No

Performance options/rights details

+Security Currency AUD - Australian Dollar

Exercise Price Expiry date AUD

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

TIN : ORDINARY FULLY PAID

Please provide any further information relating to the principal terms of the +securities

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Proposed issue of securities

Part 7C - Timetable

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7C.1 Proposed +issue date

Monday June 29, 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? Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 Monday June 22, 2020

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? Yes

7D.4a Please enter the number and +class of the +securities subject to +voluntary escrow and the date from which they will cease to be subject to +voluntary escrow

2,750,000 Performance Rights subject to voluntary escrow period of 6 months from their date of issue

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

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

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Part 7F - Further Information

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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

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