FIRST AU LIMITED — Capital/Financing Update 2021

Sep 15, 2021

First Au Limited (ASX: FAU)

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16 September 2021

Drilling to Recommence at ‘Snowstorm’ at Swifts Creek in Victoria

Highlights

• Drilling to recommence at Snowstorm before the end of September

• Program minimum target of 1,500m extending on previous drilling results

• Ongoing works to target extensions to the existing 3.1m @ 11.6 g/t Au

First Au Limited (ASX: FAU) (“First Au” or “the Company”) has received confirmation from Starwest, the drilling company, that it will be on site within the next two weeks for the upcoming program the Snowstorm gold project (located in the Swifts Creek Goldfields, East Gippsland).

The primary goal of the program is to extend on previous drilling results with focus areas around areas that showed strong mineralisation. Gold mineralisation appears to be structurally controlled. The drilling will look to delineate economic widths along the Dispute Reef (lower) and Rex Reef (upper) zones. Specifically, targeting the SW extension of SNDDH002 intersection of 3.1m @ 11.6 g/t Au[1] and SW extension of SNDDH005 intersection of 2.9m @ 3.41 g/t Au[2] (Figure 1). The program will look to target mineralisation along strike and down plunge of the maiden drilling and rock chipping results (Figure 2).

First Au will be undertaking a targeted minimum of 1,500m of diamond drilling. The overall program is expected to be completed over several months. The Company will provide periodic updates as results begin to flow.

The previous drilling results combined with recent field-based exploration has provided First Au with the confidence to deliver strong results with the upcoming program.

1 The information is extracted from and was reported in the Company’s ASX announcement titled “Early Drill Results Positive at Snowstorm” which was released to the ASX on 7 April 2021 and can be found at www2.asx.com.au, the competent person being Dr Gavin England. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that the form & context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcement.

2 The information is extracted from and was reported in the Company’s ASX announcement titled “Snowstorm Drilling Intersects Mineralised Dyke Swarm” which was released to the ASX on 10 June 2021 and can be found at www2.asx.com.au, the competent person being Dr Gavin England. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that the form & context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcement.

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Figure 1: Snowstorm Phase 2 Drilling target definition around SNDDH002 (Dispute Reef) and the SNDDH005 (Rex’s Reef). ELA007335 does not form part of First Au’s tenure.

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Figure 2: Snowstorm Target locations for upcoming drilling[3] .

3 The information is extracted from and was reported in the Company’s ASX announcement titled “Snowstorm Drilling Intersects Mineralised Dyke Swarm” which was released to the ASX on 10 June 2021, and can be found at www2.asx.com.au, the competent person being Dr Gavin England. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that the form & context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcement.

Authorised by:

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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 Chief Executive Officer Bryan Frost bfrost@firstau.com +61 418 989 885 Chairman & Managing Director

Rod North, Managing Director Bourse Communications Pty Ltd M: +61 408 670 706 rod@boursecommunications.com.au