HILLGROVE RESOURCES LIMITED — Capital/Financing Update 2021

Sep 19, 2021

Market Announcement

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20 September 2021

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Hillgrove Resources Limited (ASX: HGO) – Trading Halt

Description

The securities of Hillgrove Resources Limited (‘HGO’) will be placed in trading halt at the request of HGO, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 22 September 2021 or when the announcement is released to the market.

Issued by

Corey Lian

Compliance Adviser, Listings Compliance (Sydney)

Market Announcement 1/1 ASX Customer Service Centre 131 279 | asx.com.au

20 September 2021 ASX Limited

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20 September 2021

Corey Lian Advisor, Listings Compliance (Sydney) ASX Compliance Pty Ltd 20 Bridge Street Sydney NSW 2000

corey.lian@asx.com.au

Dear Corey

Request for Trading Halt – Hillgrove Resources Limited

Hillgrove Resources Limited ( Hillgrove ) requests a trading halt for a total of two trading days in respect of its securities (ASX Code: HGO), to apply from the commencement of trading on 20 September 2021 until the commencement of trading on 22 September 2021, unless Hillgrove requests that it be lifted before that time.

The trading halt is requested pending the announcement by Hillgrove of the outcome of a proposed capital raising. The capital raising is expected to take the form of a placement, with the results expected to be announced on 22 September 2021.

For the purpose of Listing Rule 17.1, Hillgrove provides the following information:

• (a) the trading halt is necessary to allow the capital raising to be completed and the bookbuild to be conducted;

• (b) the trading halt should remain in place until the earlier of commencement of trading on 22 September 2021 or when Hillgrove makes an announcement regarding the outcome of the capital raising; and

• (c) Hillgrove is not aware of any reason why the trading halt should not be granted and of any other information necessary to inform the market about the trading halt.

Please contact the undersigned if you require further information.

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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