FLAGSHIP MINERALS LIMITED — Capital/Financing Update 2022

Jun 29, 2022

Application for quotation of +securities

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Announcement Summary

Entity name

PAN ASIA METALS LIMITED

Announcement Type

New announcement

Date of this announcement

Thursday June 30, 2022

The +securities to be quoted are:

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Other

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
PAM	ORDINARY FULLY PAID	261,598	30/06/2022

Refer to next page for full details of the announcement

Application for quotation of +securities

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Application for quotation of +securities

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Part 1 - Entity and announcement details

1.1 Name of entity

PAN ASIA METALS LIMITED

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type

ARBN

Registration number 639599554

1.3 ASX issuer code

PAM

1.4 The announcement is

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New announcement

1.5 Date of this announcement

30/6/2022

Application for quotation of +securities

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Application for quotation of +securities

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Part 2 - Type of Issue

2.1 The +securities to be quoted are:

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Other

2.2 The +securities to be quoted are:

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Additional +securities in a class that is already quoted on ASX ("existing class")

2.3c Have these +securities been offered under a +disclosure document or +PDS? No

2.3d Please provide any further information needed to understand the circumstances in which you are applying to have these +securities quoted on ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

The shares were issued in lieu of the payment of Directors fees which was approved by shareholders at the AGM of the company held on 23 June 2022.

2.4 Any on-sale of the +securities to be quoted within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)

Application for quotation of +securities

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Application for quotation of +securities

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Part 3B - number and type of +securities to be quoted (existing class) where issue has not previously been notified to ASX in an Appendix 3B

Additional +securities to be quoted in an existing class

ASX +security code and description PAM : ORDINARY FULLY PAID Issue date 30/6/2022 Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class? Yes Issue details Number of +securities to be quoted 261,598 Are the +securities being issued for a cash consideration? Yes In what currency is the cash consideration being paid? What is the issue price per +security? USD - US Dollar USD 0.37510000

Any other information the entity wishes to provide about the +securities to be quoted

The shares will be issued in lieu of the payment of Directors fees as approved by shareholders at the AGM held on 23 June 2022

The purpose(s) for which the entity is issuing the securities Other Please provide additional details

The shares will be issued in lieu of the payment of Directors fees as approved by shareholders at the AGM held on 23 June 2022

Application for quotation of +securities

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Application for quotation of +securities

Part 4 - Issued capital following quotation

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Following the quotation of the +securities the subject of this application, the issued capital of the entity will comprise: (A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +securities (total number of each +class of +securities quoted on ASX following the +quotation of the +securities subject of this application) Total number of ASX +security code and description +securities on issue PAM : ORDINARY FULLY PAID 73,920,242 4.2 Unquoted +securities (total number of each +class of +securities issued but not quoted on ASX) Total number of ASX +security code and description +securities on issue PAMAK : ORDINARY FULLY PAID RESTRICTED 72,935,348

Application for quotation of +securities

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Application for quotation of +securities

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Part 5 - Other Listing Rule requirements

5.1 Are the +securities being issued under an exception in Listing Rule 7.2 and therefore the issue does not need any security holder approval under Listing Rule 7.1? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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Application for quotation of +securities

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