GREENWING RESOURCES LTD — Capital/Financing Update 2018

Sep 16, 2018

Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

Bass Metals Ltd

ABN

31 109 933 995

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of +securities issued or to Fully paid ordinary shares be issued 2 Number of[+] securities issued or 2,229,185 ordinary shares to be issued (if known) or maximum number which may be issued 3 Principal terms of the Fully paid ordinary shares +securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

• See chapter 19 for defined terms.

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4 Do the[+] securities rank equally The shares issued will rank equally in all in all respects from the[+] issue respects with existing shares on issue. date with an existing[+] class of quoted[+] securities?

If the additional[+] securities do not rank equally, please state:

• the date from which they do

• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

• 5 Issue price or consideration

• Exercise of listed director options - 10,875 options exercisable at $0.025 per share expiring 31/12/2018.

• Issue of Ordinary Shares in payment of Geological Services Provided – 528,169 Ordinary Shares issued in exchange for services provided to the value of US$9,375.

• Issue of 1,690,141 Ordinary Shares issued in lieu of the payment of US$30,000 in relation to the acquisition of the Millie’s Reward suite of Lithium Projects in Madagascar

• See chapter 19 for defined terms.

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6 Purpose of the issue • Exercise of unlisted options (If issued as consideration for the acquisition of assets, clearly • 528,169 Ordinary Shares issued in lieu of identify those assets) Geological services provided in July 2018 at the Millie’s Reward Suite of Lithium Projects

• 1,690,141 Ordinary Shares issued in lieu of the payment of US$30,000 in relation to the acquisition of the Millie’s Reward suite of Lithium Projects in Madagascar

6a Is the entity an[+] eligible entity Yes that has obtained security holder approval under rule 7.1A? If Yes, complete sections 6b – 6h in relation to the[+] securities the subject of this Appendix 3B , and comply with section 6i 6b The date the security holder 28 November 2017 resolution under rule 7.1A was passed 6c Number of[+] securities issued 2,218,310 ordinary shares without security holder approval under rule 7.1 6d Number of[+] securities issued N/A with security holder approval under rule 7.1A 6e Number of[+] securities issued N/A with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting) 6f Number of[+] securities issued • 10,875 shares issued on conversion of listed under an exception in rule 7.2 options exercisable at $0.025 per share expiring 31/12/18 (Listing Rule 7.2, exception 4)

• See chapter 19 for defined terms.

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• 6g If[[+]] securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the +issue date and both values. issue date and both values. Include the source of the VWAP calculation.

• 6g If[[+]] securities issued under rule N/A 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the +issue date and both values. issue date and both values. Include the source of the VWAP calculation.

• 6h If[+] securities were issued under N/A rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements

• 6i Calculate the entity’s remaining See annexure 1 issue capacity under rule 7.1 and rule 7.1A – complete Annexure 1 and release to ASX Market Announcements

• 7 +Issue dates 14 September 2018

Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A.

Cross reference: item 33 of Appendix 3B.

• 8 Number and +class of all +securities quoted on ASX ( including the +securities in section 2 if applicable)

Number	+Class
2,461,601,,754 476,555,705	Fully Paid Ordinary Shares Listed Options (expiry date 31 December 2018, exercise price $0.025)

• See chapter 19 for defined terms.

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9 Number and+class of all +securities not quoted on ASX (including the +securities in section 2 if applicable)	Number	+Class
	5,300,000 5,054,220 17,500,000 17,500,000 17,500,000 17,500,000 13,400,000 13,500,000 13,500,000 13,500,000 27,000,000 28,000,000	Unlisted Options (expiry date 31 December 2018; exercise price $0.010) Unlisted Options (expiry date 31 December 2018; exercise price $0.015) Unlisted Options (expiring 31/12/2020; exercise price $0.025) Unlisted Options (expiring 31/12/2020; exercise price $0.05) Unlisted Options (expiring 31/12/2020; exercise price $0.075) Unlisted Options (expiring 31/12/2020; exercise price $0.10) Unlisted Directors Options (expiring 31/12/2020; exercise price $0.025) Unlisted Directors Options (expiring 31/12/2020; exercise price $0.05) Unlisted Directors Options (expiring 31/12/2020; exercise price $0.075) Unlisted Directors Options (expiring 31/12/2020; exercise price $0.10) Director Performance Rights Executive Management Performance Rights

10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)	N/A

• See chapter 19 for defined terms.

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Part 2 - Pro rata issue

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11 Is security holder approval
required?
12 Is the issue renounceable or non-
renounceable?
13 Ratio in which the [+] securities
will be offered
14 +Class of +securities to which the
offer relates
15 +Record date to determine
entitlements
16 Will holdings on different
registers (or subregisters) be
aggregated for calculating
entitlements?
17 Policy for deciding entitlements
in relation to fractions
18 Names of countries in which the
entity has security holders who
will not be sent new offer
documents
Note: Security holders must be told how their
entitlements are to be dealt with.
Cross reference: rule 7.7.
19 Closing date for receipt of
acceptances or renunciations
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• See chapter 19 for defined terms.

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20	Names of any underwriters
21	Amount of any underwriting fee
	or commission
22	Names of any brokers to the
	issue
23	Fee or commission payable to the
	broker to the issue
24	Amount of any handling fee
	payable to brokers who lodge
	acceptances or renunciations on
	behalf of security holders
25	If the issue is contingent on
	security holders’ approval, the
	date of the meeting
26	Date entitlement and acceptance
	form and offer documents will be
	sent to persons entitled
27	If the entity has issued options,
	and the terms entitle option
	holders to participate on
	exercise, the date on which
	notices will be sent to option
	holders
28	Date rights trading will begin (if
	applicable)
29	Date rights trading will end (if
	applicable)
30	How do security holders sell
	their entitlements_in full_through
	a broker?
31	How do security holders sell_part_
	of their entitlements through a
	broker and accept for the
	balance?

• See chapter 19 for defined terms.

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• 32 How do security holders dispose of their entitlements (except by sale through a broker)?

• 33 +Issue date

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of[+] securities ( tick one )

• (a) +Securities described in Part 1

• (b)[All other ][+][securities ]

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• 35 If the[+] securities are[+] equity securities, the names of the 20 largest holders of the additional[+] securities, and the number and percentage of additional[+] securities held by those holders

• 36 If the[+] securities are[+] equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories

• 1 - 1,000

• 1,001 - 5,000

• 5,001 - 10,000 10,001 - 100,000 100,001 and over

• 37 A copy of any trust deed for the additional[+] securities

• See chapter 19 for defined terms.

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Entities that have ticked box 34(b)

38 Number of[+] securities for which +quotation is sought 39 +Class of +securities for which quotation is sought 40 Do the[+] securities rank equally in all respects from the[+] issue date with an existing[+] class of quoted +securities? If the additional[+] securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 41 Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another[+] security, clearly identify that other[+] security) Number +Class 42 Number and +class of all +securities quoted on ASX ( including the[+] securities in clause 38)

• See chapter 19 for defined terms.

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Quotation agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the[+] securities on any conditions it decides.

• 2 We warrant the following to ASX.

• The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

• There is no reason why those[+] securities should not be granted +quotation.

• An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that no-one has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

• If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 4 We give ASX the information and documents required by this form. If any information or document is not available now, we will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

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Sign here: ............................................................ Date: 17 September 2018 Company secretary Print name: David Round

== == == == ==

• See chapter 19 for defined terms.

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Appendix 3B – Annexure 1

Calculation of placement capacity under rule 7.1 and rule 7.1A for eligible entities

Introduced 01/08/12 Amended 04/03/13

Part 1

Rule 7.1 – Issues exceeding 15% of capital

Step 1: Calculate “A”, the base figure from which the placement capacity is calculated

Part 1	Part 1
Rule 7.1 – Issues exceeding 15% of capital
Step 1: Calculate “A”, the base figure from which the placement capacity is calculated
Insertnumber of fully paid+ordinary securities on issue 12 months before the +issue date or date of agreement to issue	1,368,146,729 (as at 15 August 2017)
Addthe following: • Number of fully paid+ordinary securities issued in that 12 month period under an exception in rule 7.2 • Number of fully paid+ordinary securities issued in that 12 month period with shareholder approval • Number of partly paid+ordinary securities that became fully paid in that 12 month period Note: • Include only ordinary securities here – other classes of equity securities cannot be added • Include here (if applicable) the securities the subject of the Appendix 3B to which this form is annexed • It may be useful to set out issues of securities on different dates as separate line items	74,131,738 shares issued pursuant to rights issue – accelerated offer 28 September 2017 153,892,717 shares issued pursuant to rights issue – retail offer & shortfall 18 October 2017 318,181,817 shares issued variously on 28 September 2017 and 20 October 2017 ratified at shareholder meeting of 28 November 2017 (resolutions 3 to 6). 296,476,216 shares issued on 5 December 2017 approved under listing rules 7.1 and 10.11 at shareholder meeting of 28 November 2017. 6,000,000 shares issued on 31 January 2018 under listing rule 7.2 (exception 4) on conversion of options.11,500 shares issued on 23 March 2018 under listing rule 7.2 (exception 4) on conversion of options. 35,656,000 shares issued on 16 April 2018 under listing rule 7.2 (exception 4) on conversion of listed and unlisted options and management performance rights. 17,002,299 shares issued on 28 May 2018

• See chapter 19 for defined terms.

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	under listing rule 7.2 (exception 4) on conversion of listed and unlisted options. 40,612,384 shares issued on 11 June 2018 under listing rule 7.2 (exception 4) on conversion of listed and unlisted options 80,911 shares issued on 14 June 2018 under listing rule 7.2 (exception 4) on conversion of listed and unlisted options 21,165,130 shares issued on 25 June 2018 under listing rule 7.2 (exception 4) on conversion of listed and unlisted options 19,617,297 shares issued on 29 June 2018 under listing rule 7.2 (exception 4) on conversion of listed and unlisted options 2,400,000 shares issued on 10 August 2018 under listing rule 7.2 (exception 4) on conversion of listed and unlisted options 1,000,000 shares issued on 2 September 2018 under Listing Rule 7.2 (exception 4) on conversion of listed and unlisted options
Subtractthe number of fully paid+ordinary securities cancelled during that 12 month period	Nil
“A”	2,354,374,738
Step 2: Calculate 15% of “A”
“B”	0.15 [Note: this value cannot be changed]
Multiply“A” by 0.15	353,156,210
Step 3: Calculate “C”, the amount of placement capacity under rule 7.1 that has already been used
Insertnumber of+equity securities issued or agreed to be issued in that 12 month period_not counting_those issued: • Under an exception in rule 7.2 • Under rule 7.1A • With security holder approval under rule	2,579,810 shares issued on 5 December 2017 1,934,858 listed options issued on 5 December 2017 9,000,000 options exercisable at $0.05

Step 2: Calculate 15% of “A”
“B”	0.15
	[Note: this value cannot be changed]
Multiply“A” by 0.15	353,156,210
Step 3: Calculate “C”, the amount of placement capacity under rule
7.1 that has already been used
Insertnumber of+equity securities issued
or agreed to be issued in that 12 month
period_not counting_those issued:	2,579,810 shares issued on 5 December
	2017
• Under an exception in rule 7.2
	1,934,858 listed options issued on 5
• Under rule 7.1A	December 2017
• With security holder approval under rule	9,000,000 options exercisable at $0.05

• See chapter 19 for defined terms.

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7.1 or rule 7.4 Note: • This applies to equity securities, unless specifically excluded – not just ordinary securities • Include here (if applicable) the securities the subject of the Appendix 3B to which this form is annexed • It may be useful to set out issues of securities on different dates as separate line items	expiring 31/12/2020 (Fee Options) plus up to 90,000,000 Fee Options pursuant to the terms of the underwriting agreement with BCP announced on 4 May 2018. 2,218,310 shares issued on 14 September 2018
“C”	105,732,978
Step 4: Subtract “C” from [“A” x “B”] to calculate remaining placement capacity under rule 7.1
“A” x 0.15 Note: number must be same as shown in Step 2	353,156,210
Subtract“C” Note: number must be same as shown in Step 3	105,732,978
Total[“A” x 0.15] – “C”	247,423,232 [Note: this is the remaining placement capacity under rule 7.1]

“A” x 0.15	353,156,210
Note: number must be same as shown in
Step 2
Subtract“C”	105,732,978
Note: number must be same as shown in
Step 3
Total[“A” x 0.15] – “C”	247,423,232
	[Note: this is the remaining placement
	capacity under rule 7.1]

Part 2

Rule 7.1A – Additional placement capacity for eligible entities

Step 1: Calculate “A”, the base figure from which the placement capacity is calculated

Part 2	Part 2
Rule 7.1A – Additional placement capacity for eligible entities
Step 1: Calculate “A”, the base figure from which the placement capacity is calculated
“A” Note: number must be same as shown in Step 1 of Part 1	2,354,374,738
Step 2: Calculate 10% of “A”
“D”	0.10 Note: this value cannot be changed
Multiply“A” by 0.10	235,437,473

• See chapter 19 for defined terms.

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Step 3: Calculate “E”, the amount of placement capacity under rule 7.1A that has already been used

Step 3: Calculate “E”, the amount of placement capacity under rule 7.1A that has already been used	Step 3: Calculate “E”, the amount of placement capacity under rule 7.1A that has already been used
Insertnumber of+equity securities issued or agreed to be issued in that 12 month period under rule 7.1A Notes: • This applies to equity securities – not just ordinary securities • Include here – if applicable – the securities the subject of the Appendix 3B to which this form is annexed • Do not include equity securities issued under rule 7.1 (they must be dealt with in Part 1), or for which specific security holder approval has been obtained • It may be useful to set out issues of securities on different dates as separate line items	0
“E”	0

Step 4: Subtract “E” from [“A” x “D”] to calculate remaining placement capacity under rule 7.1A

Step 4: Subtract “E” from [“A” x “D”] to calculate remaining placement capacity under rule 7.1A	Step 4: Subtract “E” from [“A” x “D”] to calculate remaining placement capacity under rule 7.1A
“A” x 0.10 Note: number must be same as shown in Step 2	235,437,473
Subtract“E” Note: number must be same as shown in Step 3	0
Total[“A” x 0.10] – “E”	235,437,473 Note: this is the remaining placement capacity under rule 7.1A

• See chapter 19 for defined terms.

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