HILLGROVE RESOURCES LIMITED — Capital/Financing Update 2023

Mar 8, 2023

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Thursday, 9 March 2023

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) ( Corporations Act ).

On 1 March 2023, the Company announced a placement to professional and institutional investors of new fully paid ordinary shares in the Company ( Placement Shares ) to raise approximately $36.2 million at $0.053 per share.

The Company has today issued 293,572,200 Placement Shares to certain professional and institutional investors in accordance with the announcement on 1 March 2023.

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

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

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

• (c) as at the date of this notice, the Company has complied with:

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

  • (ii) section 674 of the Corporations 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 Corporations Act.

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

Yours faithfully

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Joe Sutanto

Chief Commercial Officer & Company Secretary Hillgrove Resources Limited

Hillgrove Resources Limited ACN 004 297 116

Ground Floor, 5-7 King William Road, Unley SA 5061, Australia | T + 61 8 7070 1698 | E info@hillgroveresources.com.au

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