EV RESOURCES LTD — Board/Management Information 2020

Oct 6, 2020

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ASX RELEASE: 7 October 2020

Appointment of Mine Manager, Granite Belt Silver Project

Highlights

• § Jadar has appointed Mr Alastair Bauer to take up the role as general manager of the Queensland Granite Belt Silver Project once acquisition completed.

• § Mr Bauer has over 8 years experience on mine sites working for both private and public companies. He is an exceptional leader and driven project manager adept at developing and implementing innovative solutions to enhance performance and drive profitable business growth through multiple value adding strategies.

• § Mr Bauer’s appointment provides the Company with significant and proximate technical expertise positioning the Company with a running start in its preparation of the development of the Texas Silver Mine restart strategy following completion of the acquisition.

Jadar Resources Limited (ASX:JDR) (“ Jadar ”, the “ Company ”) is pleased to announce the appointment of Mr Alastair Bauer as General Manager of the group’s Queensland Granite Belt Silver Project.

Mr Bauer is a highly experienced senior manager, with a successful career spanning over 8 years and is expected to join on 26 October 2020. He has extensive experience in managing Queensland mining operations and has completed several major expansion projects and mine restarts from initial project development and planning through to execution. He also has an impressive record in troubleshooting and delivering improved performance out of existing operations.

Mr Bauer’s recent experience notably includes appointment as General Manger of Australian Ilmenite Resources’ Roper Bar project in the Northern Territory, and General Manager of Goondicam Resources’ Monto project in Queensland. Mr Bauer has first hand knowledge of the Texas Silver Mine operations having briefly acted as General Manager of the Granite Belt Project from September to December 2019 and brings significant experience and knowledge on the challenges faced by the Company which will be invaluable as the Company seeks to complete its acquisition of the Project and develop its restart program which will be designed to see the Company commence production in the short term.

Adrian Paul, Executive Director, said “ I welcome Alastair to a transformational period for the Company as its Board continues to implement the Company’s growth and diversification strategy and the Company prepares for completion of the Granite Belt Silver Project. Alastair provides the Company with a significant amount of technical knowledge which the Company will greatly benefit from as it seeks to complete its acquisition of the Granite Belt Silver Project and the removal of the caveats registered against the same forthwith. Alastair’s first point of call will be assisting the Company in its review of the project, the recruitment of a suitable team and the development of a re-start production program for the Texas Silver Mine .”

Alastair Bauer said “ I am very excited to be joining the Jadar team as the Company moves forward with the Texas Silver Mine acquisition. I look forward to contributing my technical knowledge and experience during a very exciting time for Jadar as we transition the Texas Silver Mine into production to unlock it’s true potential value by resolving historic key production issues .”

Jadar Resources Limited

311-313 Hay Street Subiaco, Western Australia 6008 T:+61 (0) 8 6489 0600 F: +61 (0) 8 9388 3701 www.jadar.com.au

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ENDS

For further information, please contact:

Luke Martino Adrian Paul Non-Executive Chairman Executive Director Tel: +61 8 6489 0600 Tel: +61 8 6489 0600 E: luke@jadar.com.au E: adrian@jadar.com.au

This ASX announcement was authorised for release by the Board of Jadar Resources Limited.

Forward Looking Statement

Forward Looking Statements Statements regarding Jadar´s plans with respect to its mineral properties and programs are forward-looking statements. There can be nо assurance that Jadar’s plans for development of its mineral properties will proceed as currently еxpected. Therе can also be no assurance that Jadar will be able to confirm the presence of additional mineral resources, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of Jadar’s mineral properties. The performancе of Jadar may be influenced by a number of factors which are outside the control of the Company and its Directors, staff, and contractors. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the company’s prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forwardlooking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

Jadar Resources Limited

311-313 Hay Street Subiaco, Western Australia 6008 T:+61 (0) 8 6489 0600 F: +61 (0) 8 9388 3701 www.jadar.com.au