DISCOVERY ALASKA LIMITED — Capital/Financing Update 2021

Dec 5, 2021

==> picture [267 x 98] intentionally omitted <==

ASX Announcement

6 December 2021

Cleansing Notice

For the purposes of Section 708A(5)(e) of the Corporations Act 2001, Discovery Alaska Ltd (the “Company”) hereby provides notice that pursuant to an Appendix 2A and Appendix 3B dated 6 December 2021, the Company has issued 20,000,000 Ordinary shares upon the exercise of 20,000,000 Options at a price of 3.2 cents per share which were due to expire today, 6 December 2021.

The Company hereby notifies ASX under paragraph 708A(5)(e) of the Act that:

• (a) the Company issued these Securities without disclosure to investors under Part 6D.2 of the Act;

• (b) as at the date of this notice the Company has complied with the provisions of the Chapter 2M of the Act as they apply to the Company, and section 674 of the Act; and

• (c) as at the date of this notice, there is no information:

  • a. that has been excluded from a continuous disclosure notice in accordance with the ASX Listing rules; and

  • b. that investors and their professional advisors would reasonably require for the purpose of making an informed assessment of:

    • i. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

    • ii. the rights and liabilities attaching to the Securities.

Following the issue, the Company’s shareholding structure is as follows:

ASX security code and description	Total number of
	securities on issue
1. Ordinary shares	1. 223,234,698
2. Unlisted options ex. price $0.032, expiring 30/4/23	2. 11,000,000
3. Unlisted options ex. price $0.060, expiring 22/2/23	3. 500,000

ENDS

This announcement has been authorised by the Board of Directors of Discovery Alaska Limited.

==> picture [34 x 35] intentionally omitted <==

Discovery Alaska Limited ACN 147 324 847 ABN 50 147 324 847

18 Sangiorgio Court, Osborne Park WA 6017 Locked Bag 4, Osborne Park DC WA 6916 Ph: (08) 6165 4000 Fax: (08) 6165 4067 Website www.discoveryafrica.com.au

==> picture [267 x 98] intentionally omitted <==

For further information:

Peter Lloyd, Director T | +61 8 6165 4000 E | peter@discoveryafrica.com.au W| www.discoveryafrica.com.au

==> picture [34 x 35] intentionally omitted <==

Discovery Alaska Limited ACN 147 324 847 ABN 50 147 324 847 18 Sangiorgio Court, Osborne Park WA 6017 Locked Bag 4, Osborne Park DC WA 6916 Ph: (08) 6165 4000 Fax: (08) 6165 4067 Website www.discoveryafrica.com.au