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GOLDEN MILE RESOURCES LTD Capital/Financing Update 2021

May 5, 2021

64960_rns_2021-05-05_a7414625-1f2e-4980-8d81-c6185e637f8b.pdf

Capital/Financing Update

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----- Start of picture text ----- ASX AnnouncementASX: G88----- End of picture text -----

6 May 2021

Entitlement Issue of Loyalty Options - Results

Golden Mile Resources (ASX:G88, “Golden Mile” or “the

CORPORATE DIRECTORY

Company”) advises that the pro-rata non-renounceable entitlement issue of Loyalty Options, as detailed in the Prospectus dated 26 March 2021 and announced to the ASX on the same date (“ Entitlement Issue ”), closed on 3 May 2021.

Non-Executive Chairman

Rhod Grivas

Managing Director James Merrillees

The Company has received valid applications for 13,739,944 Loyalty Options, raising a total of $68,700.44 (before costs). The resulting shortfall from the Entitlement Issue is 9,429,778 Loyalty Options (“ Shortfall ”). The Board may at its discretion place any or all of the Shortfall within 3 months of the closing date of the Entitlement Issue.

Non-Executive Directors

Caedmon Marriott Phillip Grundy

Company Secretary

The results of the Entitlement Issue are as follows:

Total number of Loyalty Options offer: 23,169,722 Number of Loyalty Options applied for: 13,739,944 Shortfall: 9,429,778

Justyn Stedwell

Golden Mile Resources Ltd

In accordance with the timetable for the Entitlement Offer, the Company intends to issue and allot, and to apply to the ASX for the quotation of, the 13,739,944 Loyalty Options on 10 May 2021.

Level 3/33 Ord Street, West Perth WA 6005

The Board of the Company would like to express appreciation to participating shareholders for their ongoing support of the Company.

T: +61 8 6383 6508

E: [email protected] W: www.goldenmileresources.com

-ENDS-

This Announcement has been approved for release by the Board of Golden Mile Resources Limited.

For further information please contact:

James Merrillees – Managing Director

Golden Mile Resources Ltd (ASX: G88)

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