FORTUNA METALS LTD — Capital/Financing Update 2023

Nov 9, 2023

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ADDRESS ABN Level 8, 99 St Georges Terrace 96 095 684 389 Perth WA 6000 PHONE WEBSITE +61 (08) 9486 4036 www.lanthanein.com

10 November 2023

Tolukuma Project Sale Completion

Lanthanein Resources Limited ( Lanthanein or the Company ) is pleased to advise that the conditions relating to the 100% sale of the Company’s subsidiary Frontier Copper PNG Ltd, the holder of the Tolukuma exploration licence EL2531 have been met by Tolu Minerals Limited ( Tolu Minerals ) (refer ASX announcement (18 March 2022) ( Agreement ). The Company is pleased to note that Tolu Minerals has commenced trading on ASX today under ticker code ‘TOK’.

Pursuant to the Agreement the Company has received consideration of A$2 million comprising A$500,000 equivalent cash and A$1.5 million by way of issue of 3 million fully paid ordinary shares in Tolu Minerals escrowed for 12 months.

This ASX Announcement has been authorised for release by the Board.

Matthew Foy Company Secretary Lanthanein Resources Limited