GOLDEN MILE RESOURCES LTD — Capital/Financing Update 2021

Mar 25, 2021

Proposed issue of securities

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Announcement Summary

Entity name

GOLDEN MILE RESOURCES LTD

Announcement Type

New announcement

Date of this announcement

Friday March 26, 2021

The Proposed issue is:

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A standard pro rata issue (including non-renounceable or renounceable)

Total number of +securities proposed to be issued for a standard pro rata issue (including non-renounceable or renounceable)

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
n/a	Options exercisable at $0.10, expiring 23/09/23	23,169,722

Ex date

Wednesday April 7, 2021

+Record date

Thursday April 8, 2021

Offer closing date

Monday May 3, 2021

Issue date

Monday May 10, 2021

Refer to next page for full details of the announcement

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Part 1 - Entity and announcement details

1.1 Name of +Entity

GOLDEN MILE RESOURCES LTD

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2 Registered Number Type

Registration Number

ACN 614538402

1.3 ASX issuer code

G88

1.4 The announcement is

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New announcement

1.5 Date of this announcement

Friday March 26, 2021

1.6 The Proposed issue is:

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A standard +pro rata issue (non-renounceable or renounceable)

1.6a The proposed standard +pro rata issue is:

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• Non-renounceable

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Part 3 - Details of proposed entitlement offer issue

Part 3A - Conditions

3A.1 - Are any of the following approvals required for the entitlement offer to be unconditional? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity No

Part 3B - Offer details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

ASX +security code and description

G88 : ORDINARY FULLY PAID

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? New class

Will the proposed issue of this If the entity has quoted company +security include an offer of options, do the terms entitle option attaching +securities? holders to participate on exercise? No No

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities are non CDIs)

Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1? No

Will the entity be seeking quotation of the 'new' class of +securities on ASX? Yes

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ASX +security code +Security description New class-code to be confirmed Options exercisable at $0.10, expiring 23/09/23

+Security type

Options

Offer ratio (ratio to existing holdings at which the proposed +securities will be issued)

The quantity of additional +securities	For a given quantity of +securities
to be issued	held
1	6
What will be done with fractional	Maximum number of +securities
entitlements?	proposed to be issued (subject to
	rounding)
Fractions rounded up to the next	23,169,722
whole number

Offer price details for retail security holders

In what currency will the offer be	What is the offer price per +security
made?	for the retail offer?
AUD - Australian Dollar	AUD 0.00500

Oversubscription & Scale back details

Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)?

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No

Will a scale back be applied if the offer is over-subscribed? No

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Options details

+Security currency

AUD - Australian Dollar

Exercise price

AUD 0.1000

Expiry date Saturday September 23, 2023

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Details of the type of +security that will be issued if the option is exercised

G88 : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

One fully paid ordinary share (ASX:G88)

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

Part 3C - Timetable

3C.1 +Record date

Thursday April 8, 2021

3C.2 Ex date

Wednesday April 7, 2021

3C.4 Record date

Thursday April 8, 2021

3C.5 Date on which offer documents will be sent to +security holders entitled to participate in the +pro rata issue Friday April 9, 2021

3C.6 Offer closing date

Monday May 3, 2021

3C.7 Last day to extend the offer closing date

Wednesday April 28, 2021

3C.9 Trading in new +securities commences on a deferred settlement basis

Tuesday May 4, 2021

3C.10 Last day for entity to announce the results of the offer to ASX, including the number and percentage of +securities taken up by existing +security holders and any shortfall taken up by underwriters or other investors

Thursday May 6, 2021

3C.11 +Issue date

Monday May 10, 2021

3C.12 Date trading starts on a normal T+2 basis

Tuesday May 11, 2021

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3C.13 First settlement date of trades conducted on a +deferred settlement basis and on a normal T+2 basis Thursday May 13, 2021 Part 3E - Fees and expenses 3E.1 Will there be a lead manager or broker to the proposed offer? No 3E.2 Is the proposed offer to be underwritten? No 3E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No 3E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer Part 3F - Further Information 3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue Working Capital. 3F.2 Will holdings on different registers or subregisters be aggregated for the purposes of determining entitlements to the issue? No 3F.3 Will the entity be changing its dividend/distribution policy if the proposed issue is successful? No 3F.4 Countries in which the entity has +security holders who will not be eligible to participate in the proposed issue Countries other than Australia, New Zealand or the PRC 3F.5 Will the offer be made to eligible beneficiaries on whose behalf eligible nominees or custodians hold existing +securities Yes

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3F.5a Please provide further details of the offer to eligible beneficiaries

Custodian and nominees may not distribute this Prospectus, and may not permit any beneficial shareholder to participate in the Entitlement Offer and/or the Shortfall Offer, in any country outside Australia, New Zealand and the PRC, except with the prior consent of the Company, to beneficial shareholders in certain other countries where the Company may determine it is lawful and practical to make the relevant Offer.

3F.6 URL on the entity's website where investors can download information about the proposed issue

3F.7 Any other information the entity wishes to provide about the proposed issue

3F.8 Will the offer of rights under the rights issue be made under a disclosure document or product disclosure statement under Chapter 6D or Part 7.9 of the Corporations Act (as applicable)? No

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