EMETALS LIMITED — Capital/Financing Update 2021

Nov 30, 2021

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1 December 2021

CLEANSING NOTICE UNDER SECTION 708A OF THE CORPORATIONS ACT 2001 (CTH)

The Manager Market Announcements Office Level 40, Central Park, 152-158 St George's Terrace Perth WA 6000

ACN: 142 411 390

T: 08 6489 1600

The Directors of eMetals Limited ( ASX:EMT ) ( eMetals ) ( Company ) advises that, further to its announcement dated 19 November 2021, it has issued a total of 100,000,000 fully paid ordinary shares ( Shares ) at an issue price of $0.0125 per Share to sophisticated and professional investors ( Placement ).

Tranche 1 Placement is conducted under the Company’s current Placement capacity pursuant to ASX Listing Rule 7.1 and 7.1A as follows:

F: 08 6489 1601

E: info@emetalslimited.com.au

W: www.emetalslimited.com.au

Directors Gary Lyons, Chairman

• ASX Listing Rule 7.1 (63,750,000 Shares); and

• ASX Listing Rule 7.1A (36,250,000 Shares).

Details of the Placement are set out in the Company’s ASX announcement dated 19 November 2021 and the Appendix 2A released earlier today.

Mathew Walker, Director

Teck Siong Wong, Director

Sonu Cheema, Company Secretary

Issued Capital (ASX Code: EMT)

525,000,000 Ordinary Shares

35,000,000 Unquoted options exercisable at $0.05 on or before 31 December 2022

The Company gives this Notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ) for the issue of 100,000,000 fully paid ordinary shares.

The Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act. As at the date of this Notice, the Company has complied with:

• ➢ the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

• ➢ section 674 of the Corporations Act.

As at the date of this Notice, there is no excluded information for the purposes of section 708A(7) and 708A(8) of the Corporations Act.

This announcement has been authorised by the Board of eMetals Limited.

For, and on behalf of, the Board of the Company Mathew Walker Director

EMETALS Limited

-ENDS-

Shareholders and other interested parties can speak to Mr Sonu Cheema if they have any queries in relation to this announcement: +618 6489 1600.

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• 61 8 6489 1600 reception@cicerogroup.com.au www.emetalslimited.com.au Suite 9, 330 Churchill Avenue, Subiaco WA 6008 PO Box 866, Subiaco WA 6904