GENESIS MINERALS LIMITED — Major Shareholding Notification 2021

Jan 18, 2021

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19 January 2021

Australian Securities Exchange Attention: ASX Market Announcements

Dear Sir/Madam

Form 603 Notice of Initial Substantial Holder Ian Gandel

Please find attached a Notice of Initial Substantial Holder received from Mr Ian Gandel. We note that the interest held by Mr Gandel in Genesis Minerals Limited (ASX: GMD) ( Company ) is deemed to arise under section 608(3) of the Corporations Act 2001 (Cth) pursuant to his voting interest held in Alkane Resources Limited ( ALK ).

For clarity, the interest held by Mr Gandel does not represent additional voting power to that held by ALK in the Company. There is no change to the voting power held by ALK.

This announcement is approved for release by Geoff James, CFO & Company Secretary for Genesis Minerals Limited.

• ENDS -

For further information, please contact:

Geoff James CFO & Company Secretary

T: +61 8 9322 6178

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

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

ToCompany Name/Scheme GenesisMineralsLimited ACN/ARSN 124 722041 1. Details of substantial holder (1) Name Each of: Abbotsleigh Proprietary Limited ACN 005 612 377 (Abbotsleigh) IanJeffrey Gandel(MrGandel) ACN / ARSN (if applicable) The holder became a substantial holder on 05/08/2019 2. Details of voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows: Class ofsecurities (4) Numberofsecurities Persons’ votes (5) Voting power(6)	GenesisMineralsLimited	GenesisMineralsLimited
	124 722041
	Each of: Abbotsleigh Proprietary Limited ACN 005 612 377 (Abbotsleigh) IanJeffrey Gandel(MrGandel)

Class ofsecurities (4)	Numberofsecurities	Persons’ votes (5)	Voting power(6)
Ordinary Fully Paid Shares (ORD)	385,463,924	385,463,924	19.84%

3. Details of relevant interests The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holderof relevantinterest	Nature of relevantinterest (7)	Class andnumberofsecurities
Alkane Resources Limited (ALK)	Registered holder with relevant interest under section 608(1)(a) ofthe CorporationsAct	385,463,924 ORD
Abbotsleigh	Abbotsleigh’s relevant interest arises under section 608(3)(a) of the Corporations Act 2001 (Cth) in relationtoALK	385,463,924 ORD
Mr Gandel	Mr Gandel’s relevant interest arises under section 608(3)(b) of the Corporations Act 2001 (Cth) in relationtoAbbotsleigh	385,463,924 ORD

4. Details of present registered holders The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered asholder(8)	Class and number of securities
ALK	ALK	ALK	385,463,924ORD

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration(9)	Consideration(9)	Class andnumberofsecurities
		Cash	Non-cash
Refer “AnnexureA”

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name andACN/ARSN(ifapplicable)	Nature ofassociation
AlkaneResourcesLimited	Abbotsleigh hasvoting powerabove20%
Abbotsleigh ProprietaryLimited	Controlled byMrGandel

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
IanJeffrey Gandel	Suite 3, 51-55 CityRoad, Southbank,VIC 3006
Abbotsleigh ProprietaryLimited	Suite 3, 51-55 CityRoad, Southbank,VIC 3006
AlkaneResourcesLimited	GroundFloor, 89-91 BurswoodRoad,Burswood,WA6100

Signature

print name Ian Jeffrey Gandel capacity Individual

sign here

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date 18 / 1 / 2021

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.

• (2) See the definition of “associate” in section 9 of the Corporations Act 2001.

• (3) See the definition of “relevant interest” in sections 608 and 671B(7) of the Corporations A.

• (4) The voting shares of a company constitute one class unless divided into separate classes.

• (5) The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.

• (6) The person’s votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (7) Include details of:

• (a) any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

• (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of “relevant agreement” in section 9 of the Corporations Act 2001.

• (8) If the substantial holder is unable to determine the identity of the person (eg. If the relevant interest arises because of an option) write “unknown”.

• (9) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

Annexure A

Form 603 to Genesis Minerals Limited From Abbotsleigh and Mr Gandel

Holder of relevant interest	Date of acquisition	Consideration	Consideration	Class and number of securities
		Cash	Non-Cash
ALK	8/09/2020	4,394,416 $	N/A	104,628,958 ORD
ALK	20/07/2020	3,131,475 $	N/A	74,558,925 ORD
ALK	15/04/2020	66,909 $	N/A	2,230,286 ORD
ALK	14/04/2020	31,793 $	N/A	1,077,721 ORD
ALK	8/04/2020	37,886 $	N/A	1,357,937 ORD
ALK	7/04/2020	60,502 $	N/A	2,176,331 ORD
ALK	25/09/2019	221,311 $	N/A	6,915,958 ORD
ALK	4/09/2019	4,049,071 $	N/A	126,533,465 ORD
ALK	5/08/2019	1,418,470 $	N/A	44,327,199 ORD
ALK	14/12/2018	150,000 $	N/A	5,357,144 ORD
ALK	12/10/2018	447,737 $	N/A	12,100,991 ORD
ALK	8/10/2018	149,965 $	N/A	4,199,009 ORD