FORTUNA METALS LTD — Capital/Financing Update 2025

Jun 9, 2025

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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 June 2025

Entitlement Offer Update

Lanthanein Resources Limited (ASX: LNR) ( Lanthanein or the Company ) refers to its announcement dated 5 June 2025 titled “Placement and Fully Underwritten Rights Issue”.

Lanthanein proposes to offer eligible shareholders the opportunity to participate in a nonrenounceable pro-rata entitlement offer to raise up to approximately $2.1 million (before costs) on the basis of three (3) new shares for every four (4) shares held at the record date at an issue price of $0.001 per share, together with one (1) free-attaching share for every three (3) shares subscribed for and issued ( Entitlement Offer ).

The structure of the pricing and free-attaching shares makes the effective cost of acquiring new shares subscribed for under the Entitlement Offer as $0.00075 per share.

Assuming no options are exercised and no performance rights are converted before the Record Date, up to 2,107,636,160 new shares plus 702,545,387 free-attaching new shares will be issued under the Entitlement Offer.

Only shareholders with a registered address in Australia or New Zealand will be eligible to participate in the Entitlement Offer ( Eligible Shareholders ).

The proposed record date for the Entitlement Offer is 5:00pm WST on 20 June 2025 ( Record Date ) (refer to the Indicative Timetable set out below for further information).

The Entitlement Offer will be non-renounceable. This means the rights cannot be traded on the ASX and are not otherwise transferable. New shares issued under the Entitlement Offer will rank equally with the Company’s existing shares.

Further information on the Entitlement Offer will be contained in a transaction specific prospectus to be issued by the Company in due course. Eligible Shareholders should consider the prospectus carefully before deciding whether to participate in the Entitlement Offer and consult with their professional advisors if they have any queries.

The prospectus will be available on the ASX’s website at www.asx.com.au following lodgement with ASIC and release to ASX.

This announcement has been authorised for release by the Directors of the Company.

LANTHANEIN RESOURCES LTD