ECLIPSE METALS LIMITED. — Capital/Financing Update 2024

Oct 17, 2024

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18 October 2024

Update on Proposed Divestment of Northern Territory Projects

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Eclipse Metals Ltd (ASX: EPM ) ( Eclipse Metals or the Company ) advises that despite multiple efforts to consummate the proposed transaction with Oz Yellow Uranium Limited (ACN 651 734 600) ( Oz Yellow ) for the sale of its interests in certain Northern Territory tenements, including its Ngalia Basin Uranium Prospects and the Liverpool Uranium Project ( NT Projects ), it has decided not to continue to pursue the transaction. As a result, the Company has formally terminated the binding heads of agreement originally entered into with Oz Yellow and announced to the ASX on 29 November 2021.

The Company is continuing to explore alternative avenues to maximise value for its shareholders in respect of the NT Projects. In this regard, the Company is in active discussions with various potential third-party purchasers and will provide an update to shareholders in accordance with its continuous disclosure obligations in the event a binding transaction is entered into. However, shareholders should note that there is no guarantee that a definitive transaction will be agreed with a preferred purchaser.

Authorised by the board of Eclipse Metals Ltd.

For more information, please contact:

Sebastian Andre Company Secretary

About Eclipse Metals Ltd (ASX: EPM)

Eclipse Metals Ltd is an Australian exploration company focused on exploring south-western Greenland, the Northern Territory and Queensland for multi commodity mineralisation. Eclipse Metals Ltd has an impressive portfolio of assets prospective for cryolite, fluorite, siderite, quartz (high purity silica), REE, gold, platinum group metals, manganese, palladium, vanadium and uranium mineralisation. The Company’s mission is to increase shareholders’ wealth through capital growth and ultimately dividends. Eclipse Metals Ltd plans to achieve this goal by exploring for and developing viable mineral deposits to generate mining or joint venture incomes.

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www.eclipsemtals.com.au

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eclipse metals

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Eclipse Metals

ECLIPSE METALS LTD

Level 3, 1060 Hay Street, West Perth WA 6005 T: +61 8 9480 0420 | F: +61 8 9321 0320 ABN 85 142 366 541