GOLDEN STATE MINING LIMITED — Capital/Financing Update 2021

Nov 24, 2021

ASX Announcement

25 November 2021

Cue Project Sale Update

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Gold and lithium exploration company Golden State Mining Limited (ASX code: “GSM” or the “Company”) refers to its announcements on 28 October and 8 November 2021 regarding a binding agreement to sell its Cue project to Cue Revival Pty Ltd (“Cue Revival”) for $1.125 million in cash, including non-refundable cash payments totalling $225,000 already received.

As disclosed in the 8 November announcement, completion was scheduled for 25 November 2021.

Cue Revival has requested an extension, advising that it will be able to complete by 23 December 2021.

With that date in mind, and default provisions which allow a non-defaulting party to terminate if a defaulting party does not rectify their breach within 5 business days of receiving a default notice, GSM has agreed to extend the agreed completion date to 16 December 2021 (ie, 5 business days prior to 23 December), subject to GSM receiving certain indemnities relating to the extension period.

For more information on the Company visit www.goldenstatemining.com.au

This announcement was authorised for issue by Damien Kelly (Chairman).

Golden State Mining Limited (ABN 52 621 105 995) | Ph: + 61 (08) 6323 2384 | Suite 15, 19-21 Outram Street, West Perth WA 6005