GR ENGINEERING SERVICES LIMITED — Capital/Financing Update 2021

Mar 28, 2021

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ASX RELEASE

29 March 2021

For immediate release to the market

EPC Contract – Warrawoona Gold Project

GR Engineering Services Limited (ASX: GNG) (GR Engineering) is pleased to announced that it has entered into a contract with Keras (Pilbara) Gold Pty Ltd, a wholly owned subsidiary of Calidus Resources Limited (ASX: CAI) (Calidus), in relation to the design and construction of the process plant and associated infrastructure for the Warrawoona Gold Project (the Project).

As previously announced on 17 September 2020, GR Engineering had been appointed as the preferred tenderer by Calidus for these works.

The contract sum is $75.5 million. The Project is located approximately 150km south east of Port Hedland and approximately 25km south east of the town of Marble Bar, in Western Australia.

Commenting on the contract, Mr Geoff Jones, Managing Director stated that:

“GR Engineering is pleased to have been awarded the contract by Calidus. We are excited to continue working with the Calidus management team and look forward to safely and successfully delivering the Warrawoona Gold Project.”

Ends.

For further information please contact:

Geoff Jones

Managing Director  +61 8 6272 6000  geoff.jones@gres.com.au

Omesh Motiwalla

CFO & Company Secretary  +61 8 6272 6000

 omesh.motiwalla@gres.com.au

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GR ENGINEERING SERVICES LIMITED ABN 12 121 542 738 Tel: +61 8 6272 6000 Fax: +61 8 6272 6001 Email: gres@gres.com.au Website: www.gres.com.au PO Box 258, Belmont WA 6984 71 Daly Street, Ascot WA 6104