JUPITER MINES LIMITED. — Capital/Financing Update 2021

Mar 14, 2021

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JUPITER MINES LIMITED

ABN 51 105 991 740 ASX: JMS

JUNO MINERALS IPO TO PROCEED ON DELAYED TIMETABLE

Jupiter Mines Limited (“Jupiter”) (ASX: JMS) advises that the demerger and initial public offering (“IPO”) of Juno Minerals Limited (“Juno”) is to be pursued, but on a delayed timetable.

A General Meeting of Jupiter Shareholders will be held by the end of April to re-approve the capital reduction and demerger. The proposed ASX listing of Juno is expected to be completed in May.

A Notice of Meeting and Replacement Prospectus with full timetable will be lodged shortly.

Announcement 15 March 2021

Registered Office: Level 10 16 St Georges Terrace Perth WA 6000

Phone: +61 8 9346 5500 Email: investorrelations@ jupitermines.com Website:

www.jupitermines.com

Directors & Officers:

Brian Gilbertson Paul Murray Andrew Bell Priyank Thapliyal Yeongjin Heo Hans Mende Brian Beem (alternate to Hans Mende)

The regulatory requirements of the Foreign Investment Review Board (“FIRB”) referred to in the ASX announcement of 8 March 2021 are an obligation of applicable investors, and not of Jupiter or Juno. Accordingly, it will be removed as a condition of the transaction and Jupiter will be able to effect the in-specie distribution and capital reduction after shareholder approval. Details will be provided in the Notice of General Meeting.

Jupiter’s CEO, Priyank Thapliyal commented, “s o as to not lose time in implementing the Mount Mason DSO Hematite Project, Juno management continues to progress the various work-streams during this delay. These include expressions of interest for tenders on major operational and capital contracts to fast-track the construction at Mount Mason to leverage the robust iron ore market ”.

Jupiter would like to thank all its Shareholders and IPO applicants for their patience, and looks forward to progressing Juno Minerals to deliver the delayed ASX listing and the Mount Mason Project.

For, and on behalf of the Board,

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Brian Gilbertson Chairman

Melissa North

Issued Capital : Ordinary shares: 1,958,991,033

Current Assets:

• World class Tshipi Manganese Mine

• Advanced Central Yilgarn Iron Ore Projects

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