EV RESOURCES LTD — Capital/Financing Update 2020

Jul 5, 2020

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ASX RELEASE: 6 July 2020

Share Placement to Strategic Investor

Highlights

• Ø Jadar secures strategic investment partner

• Ø Hong Kong Private investment fund which specialises in funding undervalued Resource Companies.

Jadar Resources Limited (ASX:JDR) (“ Jadar ”, the “ Company ”) is pleased to announce that it has received a firm commitment from Valens International Pty Ltd ( Valens ), a Hong Kong based private investment fund specializing in investing in global mining projects, to subscribe for 41,666,666 fully paid ordinary shares ( Shares ) in the Company at an issue price of $0.012 per Share to raise gross proceeds of $500,000 ( Placement ).

Valens and its director, Mr. Navinderjeet Singh (Navin Sidhu), have invested and supported multiple ASX listed companies, including many small caps, via fund raising, underwriting and convertible notes.

This is a strategic investment in the Company with Valens bringing their expertise gained from investing in resource companies and more specifically in undervalued gold and silver projects. The investment by Valens opens up various opportunities for the Company with respect to future funding possibilities, including the potential for project financing that could involve the streaming of a portion of Jadar’s current precious metals resource. Such financing options can have the effect of reducing unnecessary dilution for existing holders and enhancing shareholder value by unlocking the in-ground value of a company’s resource prior to mining.

The investment by Valens highlights their commitment and ensures their goals are aligned with those of the Company and its shareholders.

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, and for general working capital purposes.

The Placement Shares will be issued in a single tranche using the Company’s existing capacity under ASX Listing Rule 7.1 and will not require shareholder approval.

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.

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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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 forward- looking 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