GROUP 6 METALS LIMITED — Capital/Financing Update 2021

Mar 21, 2021

22 March 2021

The Manager The Company Announcements Office Australian Securities Exchange

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Cleansing Notice under section 708A(5)(e) of the Corporations Act 2001 (Cth)

This notice is given by King Island Scheelite Limited ABN 40 004 681 734 (ASX Code: KIS) ( Company ) under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ).

On 22 March 2021, the Company issued a total of 28,000,000 ordinary fully paid shares for an issue price of A$0.20 per share ( Shares ), for cash consideration of $5,600,000 pursuant to a cash placement (announced 16 March 2021) to certain sophisticated and professional investors.

In accordance with section 708(6) of the Corporations Act, the Company provides notice to the ASX that:

1. it has issued the Shares without disclosure to investors under Part 6D.2 of the Corporations Act;

2. this notice is being given under section 708A(5)(e) of the Corporations Act;

3. as at the date of this notice, the Company has complied with:

   • a. the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

   • b. section 674 of the Corporations Act; and

4. as at the date of this notice, there is no “excluded information” of the type referred to in section 708A(7) and 708A(8) of the Corporations Act that investors and their professional advisors would reasonably have expected to find in a disclosure document.

Yours sincerely,

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Ian Morgan Company Secretary

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