FIRST AU LIMITED — Capital/Financing Update 2021

Apr 21, 2021

First Au Limited

(ASX: FAU)

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22 April 2021

First Au to Commence Trading on OTCQB Venture Market

First Au Limited (“First Au” or “the Company”) (ASX: FAU), is pleased to advise that its application to join the OTCQB Venture Market in the United States has been accepted and the Company’s shares are now trading under the ticker symbol: FRSAF.

Highlights

• Official cross-trading on the US OTCQB market from 21 April 2021, symbol: FRSAF

• First Au has appointed B.Riley FBR Inc as its OTC Sponsor and market- maker

• ▪ DTC eligibility application in progress

The Company's primary listing continues to be the Australian Securities Exchange ("ASX"), with the shares now tradable on the OTCQB Market in the United States.

The OTCQB market has high financial reporting standards and strong corporate governance requirements, both of which are satisfied through First Au's ongoing compliance with ASX listing rules.

First Au sought OTCQB trading to provide current and potential North American investors with appropriate accessibility and liquidity to invest in the Company. This provides First Au access to one of the largest investment markets in the world at nominal cost, with no additional compliance requirements, compared to traditional major exchanges.

No new shares in the Company are being issued in connection with the commencement of trading on the OTCQB Market. Existing ordinary shares of First Au may now also be traded on the OTCQB Market and investors can find real-time quotes and market information on the OTC Markets website (www.otcmarkets.com/stock/FRSAF/overview).

The Company is in the process of applying for Depository Trust Clearing (DTC) eligibility, which essentially facilitates electronic trading of securities by individual investors that use selfmanaged online broking accounts (such as TD Ameritrade and E-Trade), as opposed to trading through full services brokers. Pending DTC eligibility, trading of the shares will be handled by brokers who will act as market makers. In the interim OTCQB trading will be conducted through B.Riley FBR Inc as market maker. A list of other brokers operating on the OTC Markets is available from the following link: https://www.otcmarkets.com/otc-link/brokerdealer-directory

First Au Executive Director, Richard Revelins commented: "OTCQB trading provides First Au with access to the world's largest investment market. A growing number of ASX listed mining companies have recently sought dual trading in the US, in order to provide North American investors direct and real time access to prospective opportunities provided by Australian mining companies. With First Au’s successful and growing Gimlet Gold Project, near Kalgoorlie and the Company’s substantial presence and new drilling programs

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

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underway in the East Victorian Goldfields, the Company concluded that it is now the right time to expand our investor reach into the US.

First Au is at a pivotal stage of its development and we are working to broaden our exposure in the global investment community. Joining the OTCQB market will be matched with an active investor engagement program, to ensure our investment attractions and growth prospects are highlighted with new investors."

Authorised by:

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Bryan Frost Executive Chairman

For more information, please visit www.firstau.com or contact:

Richard Revelins

Executive Director First Au Limited M: +1-310-405-4475 rrevelins@firstau.com

Investor Relations:

North America Derek Gradwell Integrous Communications M: +1-714-612-7676 dgradwell@integcom.us

Australia

Ryan Batros Managing Director Alces Pty Ltd M: +61-472-658-777 ryan@alces.com.au

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ABOUT OTC Markets Group

OTC Markets Group Inc. (OTCM) operates the OTCQX Best Market, the OTCQB Venture Market and the Pink Open Market for 11,000 U.S. and global securities. Through OTC Link, ATS and OTC Link ECN, OTC Markets connect a diverse network of broker-dealers that provide liquidity and execution services. OTC Markets enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

OTC Link ATS and OTC Link ECN are operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.

www.otcmarkets.com

ABOUT FIRST AU

First Au Limited is a company listed on the Australian Securities Exchange with advanced exploration and development gold projects located in the Eastern Victorian Goldfields and in the Kalgoorlie region of Western Australia and gold and base metals projects in the Eastern Pilbara region of Western Australia. The Company is currently in the process of completing its maiden diamond core drilling program at its Snowstorm Gold Project in East Gippsland, Victoria and looking to increase its existing JORC inferred resource at its Gimlet Gold Project near Kalgoorlie.

DISCLAIMER

This announcement has been prepared by and issued by First Au Limited (ASX: FAU) to assist in informing interested parties about the Company and should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this announcement.

This announcement may contain forward looking statements. Whilst First Au has no reason to believe that any such statements and projections are either false, misleading or incorrect, it does not warrant or guarantee such statements. Nothing contained in this announcement constitutes investment, legal, tax or other advice. This overview of First Au does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of the Company's prospects. Before making an investment decision, you should consult your professional adviser, and perform your own analysis prior to making any investment decision. To the maximum extent permitted by law, the Company makes no representation and gives no assurance, guarantee or warranty, express or implied, as to, and take no responsibility and assume no liability for, the authenticity, validity, accuracy, suitability, or completeness of, or any errors in or omissions, from any information, statement or opinion contained in this announcement. This announcement contains information, ideas and analysis which are proprietary to First Au.