GREAT BOULDER RESOURCES LIMITED — Capital/Financing Update 2019

Aug 29, 2019

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Placement and Rights Issue

Highlights

• Great Boulder receives commitments for $700,000 placement

• Non-renounceable rights issue to raise a further $1,300,000

• Funds to be used in drilling program for Whiteheads acquisition and other exploration work plans

Great Boulder Resources Limited [ASX: GBR] (“Great Boulder” or “the Company”) is pleased to announce it has received firm commitments from sophisticated and professional investors to raise $700,000 (“Placement”) and is undertaking a non-renounceable entitlement offer of 1 share for every 3 shares held by eligible shareholders to raise $1,300,000 (“Rights Issue”) for a total of $2,000,000 before costs.

Funds raised under the Placement and Rights Issue will be used for:

• Acquisition of Whiteheads Project (refer Company’s announcement of 30 August 2019)

• 2000m RC drilling program within first two months

• Aircore drilling testing priority geochemical targets

• Other exploration works on current projects

• Working capital

Placement

The Placement will raise $700,000 through the issue of 17,500,000 fully paid ordinary shares in the capital of the Company (“Shares”) to sophisticated and professional investors at an issue price of $0.04 per Share.

The issue price of $0.04 per Share represents a discount of 20% to the closing price of Shares on ASX on 21 August 2019.

The Company will issue Shares under the Placement utilising its placement capacities under ASX Listing Rules 7.1 and 7.1A. Completion of the Placement is expected to occur on or around 6 September 2019. Participants in the Placement (who are not ineligible shareholders) will be eligible to participate in the Rights Issue.

There will be a 6% capital raising fee applied to $600,000 of the Placement. The Placement is not underwritten.

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

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30 August 2019

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Rights Issue

Great Boulder will undertake a non-renounceable entitlement issue which will offer eligible shareholders the opportunity to subscribe for 1 Share for every 3 Shares held on the Record Date (as set out in the indicative timetable below) at an issue price of $0.04 per Share to raise $1,300,000 (before costs).

Eligible shareholders are those shareholders of the Company named on its register of members are 5.00pm (WST) on the Record Date, whose registered address is in Australia and New Zealand(“Eligible Shareholders”).

All new Shares issued will rank equally with existing Shares on issue and the Company will apply for official quotation of the new Shares. A prospectus in relation to the Rights Issue (Prospectus) is intended to be lodged with ASIC on or about 9 September 2019. The Prospectus will be dispatched to Eligible Shareholders with personalised entitlement acceptance forms shortly after the Record Date.

Existing option holders are not entitled to participate in the Rights Issue without first exercising their options to be registered as a shareholder in Australia or New Zealand before the Record Date, in accordance with the terms and conditions of those options.

Full details of the Rights Issue will be contained in the Prospectus. Eligible Shareholders should consider the Prospectus in deciding whether to acquire the Shares under the Rights Issue and will need to complete the personalised entitlement and acceptance form that will accompany the Prospectus.

Disclosure under ASX Listing Rule 3.10.5A

The Company provides the following additional information as required under ASX Listing Rule 3.10.5A in respect of the Placement:

1. The dilutive effect of the Placement in respect of on existing shareholders is as follows:

Number of shares on issue prior to the Placement	81,610,117
Shares issued under Listing Rule 7.1A capacity	8,011,012
Total Shares issued under Placement	17,500,000
Number of shares on issue after the Placement	99,110,117
Dilution to existing shareholders as a result of the Placement	17.65%

1. The issue price of Shares under both the Placement and the Rights Issue is $0.04 per Share and accordingly Eligible Shareholders will be able to participate in the capital raising at the same price per Share as investors under the Placement.

2. The Company will incur costs of $36,000 as a capital raising fee (6% of $600,000), listing fees and legal fees in respect of the Placement.

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

GREATBOULDER.COM.AU

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30 August 2019

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Indicative Timetable

The proposed timetable for the Placement and Rights Issue is set out below:

Event	Date
Expected issue of Shares under the Placement	Friday, 6 September 2019
Lodgement of Prospectus with the ASIC	Monday, 9 September 2019
Lodgement of Prospectus & Appendix 3B with ASX	Monday, 9 September 2019
Notice sent to Option holders	Tuesday, 10 September 2019
Notice sent to Shareholders	Wednesday, 11 September 2019
Ex date	Thursday, 12 September 2019
Record Date for determining entitlements	Friday, 13 September 2019
Prospectus despatched to Eligible Shareholders withpersonalised entitlement and acceptance form, andCompany announces despatch has been completed	Wednesday, 18 September 2019
Last day to notify ASX of an extension to the Closing Date	Tuesday, 24 September 2019
Closing Date*	Friday, 27 September 2019
Shares quoted on a deferred settlement basis	Monday, 30 September 2019

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

E: admin@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

GREATBOULDER.COM.AU

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30 August 2019

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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’s main focus is exploration for copper-nickel-cobalt sulphide mineralisation. With advanced projects including Mt Venn and Winchester in the Yamarna Belt and the backing of a strong technical team, the Company is well positioned for future success.

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----- Start of picture text ----- GREAT BOULDER PROJECTS----- End of picture text -----

E: admin@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

GREATBOULDER.COM.AU