ECLIPSE METALS LIMITED. — Capital/Financing Update 2020

Apr 2, 2020

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www.eclipseuranium.com.au Eclipse Metals Ltd is an Australian exploration company focused on exploring the Northern Territory and Queensland for multi commodity mineralisation. The Company has an impressive portfolio of assets prospective for gold, manganese, base metals and uranium mineralisation. The Company’s mission is to increase Shareholder wealth through capital growth and ultimately, dividends. Eclipse plans to achieve this goal by exploring for and developing viable mineral deposits to generate mining or joint venture income.

3 April 2020

Notice under Section 708A(5)(e) of the Corporations Act

Eclipse Metals Limited (the Company) (ASX: EPM) provides notification in accordance with section 708A(5)(e) of the Corporations Act 2001 (Cth) and the details required under section 708A(6) of the Act in relation to the following Securities ( Securities ) issued by the Company on 2 April 2020 (in accordance with the Announcement dated 1 April 2020).

Class of Securities Fully paid Ordinary Shares ( Shares )

75,666,667 Share placement to sophisticated investors for capital raising;

Total number issued

4,540,000 Shares in payment of corporate advisory fee in association with the capital raising; and

2,833,333 Shares in payment of administration services – information technology, investor relations and general administration services

BOARD

Carl Popal Executive Chairman

The Corporations Act restricts the on-sale of Securities issued without disclosure, unless the sale is exempt under Section 708 or 708A. Through the release of this Notice by the Company; sale of the Securities noted above will fall within the exemption in Section 708A(5) of the Corporations Act and will be able to be traded immediately.

Rod Dale Non-Executive Director

Ibrar Idrees Non-Executive Director

The Company advises

COMPANY SECRETARY

1. the above Securities were issued without disclosure to investors under Part 6D.2 of the Act;

2. this Notice is being given under section 708A(5)(e) of the Act;

3. as at the date of this Notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company and section 674, of the Act; and

4. as at the date of this Notice, there is no information that is excluded information within the meaning of sections 708A(7) and 708A(8) of the Corporations Act, being information that:

   • (a) has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

   • (b) investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

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

     • The rights and liabilities attaching to the Securities or generally to the ordinary shares in the capital of the Company.

Eryn Kestel

REGISTERED OFFICE AND PRINCIPAL PLACE OF BUSINESS

Level 3, 1060 Hay Street West Perth WA 6005 Phone: + 61 8 9480 0420 Fax: + 61 8 9321 0320

AUSTRALIAN BUSINESS NUMBER

85 142 366 541

SHARE REGISTRY

Automic Group Level 2, 267 St Georges Terrace Perth WA 6000

ASX CODE

EPM

WEBSITE

www.eclipsemetals.com.au

Authorised by Eryn Kestel Company Secretary eryn@kestelcorp8.com.au