DYNAMIC METALS LIMITED — Capital/Financing Update 2023

Jan 15, 2023

16 JANUARY 2023

ASX ANNOUNCEMENT

DYNAMIC METALS COMPLETES $7M IPO AND SUCCESSFUL SPIN-OFF FROM JINDALEE RESOURCES

HIGHLIGHTS

• Dynamic Metals completes its oversubscribed $7M Initial Public Offering, officially listing on the Australian Securities Exchange at 12pm today (AEDT)

• Dynamic issued a total of 48.9 million shares for an indicative market capitalisation of $9.8M

• Flagship assets include the Widgiemooltha, Lake Percy and Deep Well projects prospective for lithium, nickel, gold and PGEs

• $7M IPO allows Dynamic Metals to rapidly progress exploration activities across its portfolio of critical minerals projects in Western Australia

• Drilling at the Widgiemooltha Lithium-Nickel-Gold Project expected to commence shortly

Dynamic Metals Limited (ASX:DYM) (“ Dynamic ” or “ the Company ”), a new Australian focussed lithium, nickel and gold explorer, is pleased to announce that it commenced trading on the Australian Securities Exchange (ASX) at 12pm AEDT, following successful completion of its Initial Public Offer (IPO) which raised the maximum subscription of $7M (before costs).

The Company issued 35 million shares at $0.20 per share in its IPO in addition to the 13.985 million shares issued to vendors and joint lead managers, including 12.5 million shares issued to Jindalee Resources Limited (Jindalee, ASX:JRL).

Upon the successful listing of Dynamic Metals, Managing Director Karen Wellman commented:

“This is a fantastic result for all involved in the Dynamic Metals journey. The fact that we had a strongly supported oversubscribed IPO even in volatile market conditions speaks volumes to the quality of our portfolio.

With this funding in place, Dynamic can focus on accelerating exploration across our key Widgiemooltha, Lake Percy and Deep Well projects and unlocking the value of these fantastic assets.

On behalf of the Board, I would like to thank Jindalee shareholders for their support, as well as the team that involved in the execution of the IPO, notably Hamilton Locke, Deloitte, BDO, and our Joint Lead Managers Canaccord Genuity and Discovery Capital Partners.”

The first major exploration activities are scheduled to occur at the Widgiemooltha project with Reverse Circulation drilling targeting nickel planned to commence in the next few weeks. In addition, the Company continues to progress its earlier stage lithium exploration programs with regional mapping and sampling for target generation.

-Ends-

T 61 8 9321 7550 . E enquiry@dynamicmetals.com.au

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Authorised for release by the Board of Directors.

For further information on the Company and our projects, please visit: www.dynamicmetals.com.au

CONTACT

Karen Wellman

Managing Director karen@dynamicmetals.com.au +61 8 9321 7550

ABOUT DYNAMIC METALS

Dynamic Metals is the successful spin-off from Jindalee Resources Limited (ASX:JRL) and raised its maximum subscription of $7M in its IPO in December 2022. Dynamic is progressing exploration across portfolio of projects in the critical minerals space in Western Australia. The flagship project, Widgiemooltha, covers an extensive area of approximately 880km[2] extending between Norseman and Kambalda. The region is well known for its numerous nickel and gold mines, but more recently has emerged in significance for its lithium mineralisation and prospectivity.

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