GREAT BOULDER RESOURCES LIMITED — Capital/Financing Update 2019

Oct 16, 2019

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Drilling to start at Whiteheads gold project next week following successful completion of capital raising

RC program will test brownfields targets at Whiteheads; Drilling also being planned for the Tarmoola and Mt Carlon gold projects

Great Boulder Resources Limited [ASX: GBR] is pleased to announce that it has raised an additional $870,000 following the successful allocation of shortfall shares from the recent rights issue.

This brings the total amount raised from the placement and rights issue to $2 million, meaning the Company is now fully funded for its ongoing exploration programs.

As previously advised, Great Boulder has an aggressive exploration program planned at the Whiteheads gold project in WA, with an initial RC drilling program due to start shortly followed by mapping and geophysical surveys. Great Boulder will also be testing EM targets at its Tarmoola and Mt Carlon gold projects, also in WA, in the coming quarter.

Great Boulder Managing Director Andrew Paterson said the Company was set to start drilling at Whiteheads next week.

“We’ve had a strong response to the recent placement and rights issue, leaving us fully-funded to execute our impending exploration programs,” Mr Paterson said.

“With all our approvals in place, the RC rig is scheduled to start at Whiteheads next week, with a 2,000m program designed to test brownfields targets there.

“We’ve also scheduled structural mapping to look at the high-grade vein orientations within the Whiteheads corridor along with a high-resolution drone-mag survey.

“There will also be drilling at Tarmoola and Mt Carlon as soon as we finalise the programs.

“These ongoing exploration programs are expected to generate strong newsflow over coming months.”

ASX Code: GBR Contact: Andrew Paterson, Managing Director E: admin@greatboulder.com.au GREATBOULDER.COM.AU P: +61 8 6323 7800 PO Box 1565, Applecross 6953, Western Australia ABN 70 611 695 955

ASX Announcement

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17 October 2019

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For further information contact:

Andrew Paterson

Managing Director Great Boulder Resources Limited admin@greatboulder.com.au

Media

For further information, please contact: Paul Armstrong Read Corporate +61 8 9388 1474

About Great Boulder Resources

Great Boulder is a mineral exploration company with projects in the Eastern Goldfields region of Western Australia. With a focus on base metals and gold, the Company has a range of projects from greenfields through to advanced exploration. With advanced copper-nickel-cobalt projects including Mt Venn and Winchester and the Whiteheads gold project plus the backing of a strong technical team, the Company is well positioned for future success.

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E: admin@greatboulder.com.au GREATBOULDER.COM.AU ABN 70 611 695 955

ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 6323 7800 PO Box 1565, Applecross 6953, Western Australia