EV RESOURCES LTD — Capital/Financing Update 2020

Aug 6, 2020

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ASX RELEASE: 7 August 2020

$1M Placement to Accelerate Yanamina Project

Jadar Resources Limited (ASX:JDR) (“ Jadar ”, the “ Company ”) is finalising commitments from sophisticated and institutional investors qualifying under s708 of the Corporations Act 2001 (Cth) to subscribe for a placement of up to 33,333,333 fully paid ordinary shares at $0.03 per share to raise gross proceeds of up to $1,000,000 ( Placement ).

The Placement Shares will be issued in a single tranche using the Company’s existing capacity under ASX Listing Rule 7.1A (up to 33,333,333 Shares) and will not require shareholder approval. The issue price of $0.03 is a 15% premium to the Company’s 15 trading day VWAP.

Net proceeds from the Placement will primarily be used to continue exploration activities over the Company’s existing projects, specifically further exploratory drilling at the Yanamina Gold Project, to further the acquisition of the Granite Belt mine and to expedite the restart of the plant, and for general working capital purposes.

ENDS

For further information, please contact:

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

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

Disclaimer

Forward-looking statements are statements that are not historical facts. Words such as “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)”, “potential(s)”and similar expressions are intended to identify forwardlooking statements. 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 nonoccurrence 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