INDIANA RESOURCES LIMITED — Capital/Financing Update 2021

Jan 31, 2021

ASX: IDA

1[st] February 2021

Notice Under Section 708A

Indiana Resources Limited ( ASX: IDA ) (‘ Indiana ’ or the ‘Company ’) advises that it has issued the following securities on 27[th] January 2021:

• a) 3,259,634 Ordinary Fully Paid Shares as a result of exercise of Listed Options.

The Shares are part of a class of securities quoted on the Australian Securities Exchange Limited (ASX). The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations Act 2001. The Shares were issued without disclosure to the investors under Part 6D.2, in reliance on Section 708A(5) of the Corporations Act 2001. The Company, as at the date of this notice, has complied with:

• a) the provisions of Chapter 2M of the Corporations Act 2001; and

• b) Section 674 of the Corporations Act 2001.

There is no excluded information as at the date of this notice, for the purposes of Sections 708A(7) and (8) of the Corporations Act 2001.

Ends

This announcement is authorised for release to the market by the Board of Directors of Indiana Resources Limited.

For further information, please contact :

Bronwyn Barnes Aida Tabakovic Executive Chair Company Secretary T: +61 (0) 417 093 256 T: +61 8 9481 0389

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Indiana Resources Limited | ABN 67 009 129 560 | Suite 3, 339 Cambridge Street, Wembley WA 6014

| T +61 (08) 6241 1870| E info@indianaresources.com.au | www.indianaresources.com.au

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