FORTUNA METALS LTD — Capital/Financing Update 2021

Sep 30, 2021

Application for quotation of +securities

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Announcement Summary

Entity name

FRONTIER RESOURCES LIMITED

Announcement Type

New announcement

Date of this announcement

Friday October 01, 2021

The +securities to be quoted are:

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+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
FNT	ORDINARY FULLY PAID	57,692,307	01/10/2021

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

FRONTIER RESOURCES 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

ACN

Registration number

095684389

1.3 ASX issuer code

FNT

1.4 The announcement is

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New announcement

1.5 Date of this announcement

1/10/2021

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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+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B

Previous Appendix 3B details:

Announcement Date and Announcement Title Selected Appendix 3B to submit quotation Time request 03-Aug-2021 10:02 New - Proposed issue of securities - A placement or other type of issue FNT

2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B?

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Yes

2.3a.3 Please provide details of the further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B

Issue of Class A and Class B Performance Shares

Application for quotation of +securities

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Application for quotation of +securities

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Part 3A - number and type of +securities to be quoted where issue has previously been notified to ASX in an Appendix 3B

Placement Details

ASX +security code and description FNT : ORDINARY FULLY PAID

Issue date 1/10/2021

Distribution Schedule

Provide a distribution schedule for the new +securities according to the categories set out in the left hand column - including the number of recipients and the total percentage of the new +securities held by the recipients in each category.

Total percentage of +securities held Number of +securities held Number of holders For example, to enter a value of 50% please input as 50.00 1 - 1,000 % 1,001 - 5,000 % 5,001 - 10,000 % 10,001 - 100,000 % 100,001 and over %

Application for quotation of +securities

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Application for quotation of +securities

Issue details

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Number of +securities to be quoted

57,692,307

Are the +securities being issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Vendor consideration for the acquisition of Southern Rare Earths Pty Ltd

Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted

750,000.000000

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

Application for quotation of +securities

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Application for quotation of +securities

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Part 4 - Issued capital following quotation

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 FNT : ORDINARY FULLY PAID 699,133,789 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 FNTAK : OPTION EXPIRING 13-AUG-2024 EX $0.02 10,000,000

4.2 Unquoted +securities (total number of each +class of +securities issued but not quoted on ASX)

Application for quotation of +securities

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