HILLGROVE RESOURCES LIMITED — Capital/Financing Update 2021

Sep 29, 2021

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Thursday, 30 September 2021

ASX Market Announcements Office ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

Hillgrove Resources Limited (ASX Code: HGO)

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

This notice is given by Hillgrove Resources Limited ACN 004 297 116 ( Company ) under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Act ).

On Wednesday 22 September 2021, the Company announced a placement to professional and institutional investors of new fully paid ordinary shares in the Company ( Placement Shares ) to raise approximately $10.0 million at $0.052 per share.

The Company has today issued 192,307,693 Placement Shares to certain professional and institutional investors in accordance with the announcement on 22 September 2021.

In accordance with section 708A(5) and (6) of the Act, the following information is provided:

• (a) the Company issued the Placement Shares without disclosure to investors under Part 6D.2 of the Act;

• (b) the notice is being given under section 708A(5)(e) of the Act;

• (c) as at the date of this notice,

  • (i) the provisions of chapter 2M of the Act as they apply to the Company; and

  • (ii) section 674 of the Act; and

• (d) as at the date of this notice, there is no excluded information of the type referred to in sections 708A(7) and 708A(8) of the Act.

This notice has been authorised for release by the Board of Directors of Hillgrove.

Yours faithfully

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Joe Sutanto Chief Commercial Officer & Company Secretary Hillgrove Resources Limited

IIII HILLGROVE RESOURCES LIMITED 5 – 7 King William Rd, Unley SA 5061, Australia ACN 004 297 116

www.hillgroveresources.com.au

T +61 8 7070 1698