FIRST AU LIMITED — Capital/Financing Update 2021

Oct 28, 2021

First Au Limited

(ASX: FAU)

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29 October 2021

First Au Limited ( FAU ) advises that the enclosed priority offer letter is being sent to eligible FAU shareholders (being those shareholders of FAU at 5pm (Melbourne time) on 15 October 2021) by 8 AU Limited ( 8AU ) in connection with the IPO of 8AU. The priority offer letter is being released to ASX in accordance with ASX Listing Rule 3.17.1.

The priority offer was secured by the Directors of FAU in connection with the negotiation of the Farm-In and Joint Venture Agreement ( JVA ) entered into between FAU and 8AU.

Further details of the JVA are set out in the notice of meeting released to ASX on 29 January 2021.

FAU understand that 8AU has lodged its prospectus with ASIC and is seeking to list on the ASX on or about 3 December 2021.

Please read the enclosed letter for further details.

Authorised by:

Bryan Frost Executive Chairman, Managing Director

About First Au: First Au is an advanced gold and base metals exploration company listed on the Australian Securities Exchange (ASX: FAU), and is trading on the OTCQB market in the USA (OTCQB: FRSAF) and is pursuing a well-funded and aggressive exploration program at its 100% owned Gimlet Gold project near Kalgoorlie and Victorian Goldfields Project in East Gippsland.

Enquiries in relation to this announcement please contact:

Ryan Skeen rskeen@firstau.com +61 409 000 679 Bryan Frost bfrost@firstau.com +61 418 898 885

Media and PR Contacts

Rod North, Managing Director

Bourse Communications Pty Ltd

M: +61 408 670 706 rod@boursecommunications.com.au

First Au Limited ACN 000 332 918

Registered Office: Level 1 / 123 Whitehorse Road, Balwyn Vic. 3103 Australia. Telephone 03 9817 0700 Facsimile 03 9817 0799 Website: www.firstau.com Email: info@firstau.com

8 Au Limited

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Dear FAU Shareholder,

As you may be aware, in March 2021 First AU Limited ( FAU or the Company ) obtained shareholder approval to enter into a Farm-In and Joint Venture Agreement ( Farm-In Agreement ) with 8AU Limited [ACN 644 358 403] ( 8AU ) in relation to FAU’s Talga Project.

8AU is an unlisted Australian public company which has recently lodged a prospectus in connection with a proposed ASX-listing ( 8AU IPO ). 8AU has assembled rights to a number of exploration assets in Western Australia, the details of which are contained in its IPO prospectus (see link below). The ASX-listing of 8AU, should it proceed, is expected to be completed in early December 2021 and forms a condition to the Farm-In Agreement.

In connection with FAU entering into the Farm-In Agreement, it was proposed that eligible FAU shareholders would obtain access to a priority offer in the 8AU IPO to subscribe for ordinary shares in 8AU having a value, at the IPO price, of up to $30,000 (note that the offer also includes free-attaching options in 8AU) in priority to other applicants in the 8AU IPO ( 8AU Priority Offer) .

Eligible shareholders of FAU are those with a registered address in Australia who were shareholders at the priority offer record date, being 5pm, 15[th] October 2021 ( Eligible Shareholder ).

You are receiving this letter because you are an Eligible Shareholder and have a right to subscribe in the 8AU Priority Offer.

To access the details of, and subscribe under, the 8AU Priority Offer please:

• https://www.eightau.com/prospectus.html – access the 8AU prospectus at this link; and

• XXXXXX - enter this access code in the application process.

If you have any queries in relation to the 8AU Priority Offer please contact David McBain david.mcbain@eightau.com

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Bryan Frost - Executive Chairman and Managing Director 8AU Limited

Important Note

8AU is the offeror of the securities the subject of the 8AU IPO. The prospectus for the 8AU IPO is available at the link above Offers of securities in 8AU will only be made in, or accompanied by, a copy of the 8AU IPO prospectus. You should consider the 8AU IPO prospectus in deciding whether to acquire securities in 8AU. You will need to complete the application form that will be provided in the application process (following receipt of the 8AU IPO prospectus) to apply for shares in the 8AU IPO.

8 Au Limited ACN 644 358 403 Registered Office: Level 1 / 123 Whitehorse Road, Balwyn Vic. 3103 Australia. Telephone 03 9817 0700 Facsimile 03 9817 0799