EV RESOURCES LTD — Capital/Financing Update 2020

Jan 1, 2020

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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ASX

ANNOUNCEMENT

JADAR RESOURCES LIMITED QUICK STATS

Acquisition of Yanamina Gold Project Completed

2 January, 2020

Jadar Resources Limited (ASX: JDR) (Jadar or the Company) is pleased to advise that it has completed its acquisition of Minera Wealth Peru S.A.C., the holder of five concessions known as the Yanamina Gold Project.

Shareholders approved the acquisition of the Yanamina Gold Project at the Company’s Annual General Meeting held on 25 November 2019.

Details of the Yanamina Gold Project are contained in the Company’s announcement of 16 September 2019 (the Company is not aware of any new information or data that materially affects the information included in the original ASX announcement). Jadar will proceed to review the project’s data and economic data, verify the historical estimates as mineral resources in accordance with the JORC Code 2012 and prepare an economic study to determine work required to fast track the project to production status.

ASX Code: JDR Shares on Issue: 524.9 million Market Cap: $5.3 million Cash: $1.69m (at 30 Sep ‘19)

BOARD & MANAGEMENT

Non- Executive Chairman Mr Luke Martino

Non-Executive Directors Mr Steven Dellidis Mr Nicholas Sage

Management Dejan Jovanovic; General Manager, exploration

Company Secretary Ms Louisa Martino

ASSET PORTFOLIO

AUSTRIA

ENDS

Further Enquiries

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

Weinebene

(80% interest – ~28km[2] )

Eastern Alps Projects

(80% interest – ~37km[2] )

SERBIA

Cer

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 forward-looking 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

(100% interest - ~92.77km[2] )

Rekovac

(100% interest - ~75.4km[2] )

Vranje-South (100% interest - ~90.44km[2] )

PERU

Yanamina (100% interest)

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 nonoccurrence of any events.