EQ RESOURCES LIMITED — Capital/Financing Update 2019

Jul 9, 2019

ABN: 77 115 009 106 (ASX: SEI)

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10 July 2019

Registered Office: Level 17 500 Collins Street Melbourne VIC 3000 Ph: (03) 9614 0600 Fax: (03) 9614 0550 www.specialitymetalsintl.com.au Postal: PO Box 1496 Mareeba QLD 4880

Company Announcements Office ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000

ENTITLEMENT OFFER : DESPATCH OF OFFER BOOKLET AND ENTITLEMENT AND ACCEPTANCE FORM

Speciality Metals International Limited (ASX:SEI) ( Speciality Metals or Company ) is pleased to announce that the Entitlement Offer Booklet and accompanying personalised Entitlement & Acceptance Form relating to its pro-rata non renounceable shareholder entitlement offer ( Offer ) announced on 2 July 2019, was despatched to eligible shareholders today.

Key Dates

As a reminder, the key dates are as follows:

Date	Details
Tuesday, 2 July 2019	Announcement of the Offer Announcement of the Offer and lodgement of Offer Booklet, Appendix 3B and 708AA cleansing notice with the ASX
Friday, 5 July 2019	Record Date 7pm (Sydney time) The date which the Company determined eligible shareholders. Open Date The date on which the Offer opens and Offer Booklet is despatched to shareholders.
Wednesday, 10 July 2019
Tuesday, 23 July 2019	Closing Date 5pm (Sydney time) The date on which the Offer closes. Applications and payments must be received by 5pm (Sydney time).
Friday, 26 July 2019	Shortfall Notification Date The date on which the Company will announce the shortfall (if any) under the Offer.
Tuesday, 30 July 2019	Issue Date The date shares under the Offer are issued.
Wednesday, 31 July 2019	Holding Statement Despatch Date & Trading Commences The date on which holding statements are sent to shareholders and shares under the Offer will commence trading on the ASX.

The above timetable is subject to change and the Company reserves the right to withdraw or vary the timetable for the Offer without notice. In particular, the Company reserves the right to extend the Closing Date for the Offer, to accept late applications whether generally or in particular cases or to withdraw the Offer without prior notice.

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Legal/69198986_1

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About Speciality Metals International Limited

Speciality Metals plans to be a pre-eminent Australian tungsten producer from the historic Mt Carbine tungsten mine in Far North Queensland.

The Company’s exploration portfolio includes the following diversified projects:

• Lithium and other valuable mineral resources such as potassium, iodine and boron contained in subsurface brines within its Chilean exploration concessions; and

• Gold Exploration Licences (Panama Hat and Crow Mt) in New South Wales, Australia.

Concurrently, the Company maintains, with the intention of redeveloping, its world-class tungsten assets at Mt Carbine in Far North Queensland, Australia which consist of the Mt Carbine Tungsten Mine and the Iron Duke and Petersens Lode Exploration Permits.

The Company aims to create shareholder value through the exploration and development of its current portfolio, whilst continuing to evaluate corporate and exploration opportunities within the speciality metals sector.

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RH Krause

Executive Chairman

Speciality Metals International Limited

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