GENESIS MINERALS LIMITED — Capital/Financing Update 2021

Nov 24, 2021

Genesis Minerals Limited (ASX: GMD) ASX Announcement – 25 November 2021

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SHARE PLACEMENT FUNDS RECEIVED

Genesis Minerals Limited ( Company ) (ASX: GMD) is pleased to announce it has received total proceeds of $16m from its recent share placement (see ASX release dated 22 September 2021).

The placement forms part of a funding package totalling $20.8 million, consisting of a $16m share placement at 6c per share ( Placement ) and a non-renounceable 1-for-30 entitlement offer at 6c per share raising up to an additional $4.8m ( Entitlement Offer ). Shareholder approval was received for the Placement on 19 November 2021. The shares for the Placement will be issued on 25 November 2021.

Subscribers under the Placement and the Entitlement Offer will receive one (1) free attaching unlisted option for every two (2) shares subscribed for; each option will have a 10c exercise price and a twoyear expiry.

The Prospectus for the Entitlement Offer is available to view on the ASX website under the Company’s ASX code “GMD” and on the Company’s website at https://genesisminerals.com.au. The Entitlement Offer is scheduled to open on 1 December 2021 and close at 5pm (AWST) on 10 December 2021.

Eligible Shareholders will be sent a letter on the Entitlement Offer open date and will contain the Offer Website address, where you can access the Prospectus and your Entitlement and Acceptance Form.

To accept the Entitlement Offer, you will need to follow these steps:

Step 1: Access the Offer Website which opens on 1 December 2021:

• https://genesisoffer ri.online.computershare.com

Step 2: View or download the Prospectus by clicking on 'View Prospectus & Apply Now'.

Step 3: Click 'Apply Now' and enter your Securityholder Reference Number (SRN) or Holder Identification Number (HIN) and your postcode to access the Entitlement and Acceptance Form.

Step 4: Complete the Entitlement and Acceptance Form and make payment using BPAY® (Australian Shareholders only) or EFT (Electronic Funds Transfer) (New Zealand, Canada, Singapore, United States, Chile and Malaysia Shareholders only) and the unique payment reference numbers provided.

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.

This announcement is approved for release by Michael Fowler, Managing Director for Genesis.

ENDS

Investors: Michael Fowler Managing Director Genesis Minerals Limited T: +61 8 9322 6178

Media: Nicholas Read Read Corporate

T: +61 8 9388 1474

ASX Code: GMD www.genesisminerals.com.au T: +61 8 9322 6178

ABN: 72 124 772 041 Unit 6, 1 Clive St West Perth, WA, Australia, 6005