GBM RESOURCES LIMITED. — Capital/Financing Update 2022

Mar 1, 2022

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Suite 8, 7 The Esplanade, Mt Pleasant, WA 6153

E info@gbmr.com.au P +61 (8) 9316 9100 F +61 (8) 9315 5475 www.gbmr.com.au ABN 91 124 752 745

ASX Announcement 2 March 2022

Company Announcements Office Australian Securities Exchange 20 Bridge St Sydney NSW 2000

Completion of Entitlement Offer

GBM Resources (ASX:GBZ) ( GBM or the Company ) advises of the issue of 31,059,811 New Options pursuant to applications for entitlements under the Non-Renounceable Pro Rata Entitlement Offer ( Offer ) which closed on 25 February 2022.

Up to 20,023,825 New Options will be issued pursuant to applications pursuant to the Shortfall Offer following the application of the scale back of excess applications by the Board (refer section 2.6 of the Prospectus dated 2 February 2022).

Refer to the announcement provided to ASX on 1 March 2022 for further details regarding the results of the Offer.

An Appendix 3G will be lodged following this announcement with regards to the issue of the abovementioned securities.

This ASX announcement was approved and authorised for release by:

Peter Rohner, Managing Director

For further information please contact:

Investor enquiries	Media enquiries
Peter Rohner	Michael Vaughan
Managing Director	Fivemark Partners
+61 8 9316 9100	+61 422 602 720
peter.rohner@gbmex.com.au	michael.vaughan@fivemark.com.au

About GBM Resources

GBM Resources Limited ( ASX: GBZ) is a well-funded Queensland based mineral exploration and development company focused on the discovery of world-class gold and copper deposits in Eastern Australia. The company has a high calibre project portfolio, hosting district scale mineral systems, located in a number of premier metallogenic terrains.

Its 100% owned flagship project in the Drummond Basin (QLD) holds ~1.6 Moz of gold in JORC resources (Mt Coolon, Yandan and Twin Hills). 2022 will see an expanded drilling program which is aiming to define 2-3 Moz and support GBM’s transition into a mid-tier Australian gold company.

Separately it also holds tenements in the Mt Morgan district (subject to a vend into a TSX company) and in the Mt Isa Inlier in Queensland (JV with Nippon Mining Australia - 54%), and the Malmsbury Project (JV with Novo Resources Corp. - 50%, earning additional 10%) in the prolific Victorian Goldfields. This is complemented by the cash generating White Dam Gold-Copper Project in South Australia in which GBM now holds a 100% interest. Divestment of non-core assets will continue.

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