KRAKATOA RESOURCES LIMITED — Board/Management Information 2021

Jan 21, 2021

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22 January 2021

KTA Significantly Strengthens NSW Technical Team

• Appointment of highly experienced geologist, Mr Erik Conaghan as Exploration Manager

• Erik has over 2 decades of hard rock exploration experience, including a substantial period within the Lachlan Fold Belt of NSW

• Focused on implementing the Company’s aggressive exploration mandate across its NSW portfolio

• Dedicated to driving the Company’s projects forward and unlocking value for shareholders

Krakatoa Resources Limited (ASX: KTA) (“Krakatoa” or the “Company”) is pleased to announce the appointment of Mr Erik Conaghan as the Company’s Exploration Manager, effective immediately. Erik is a hard rock exploration geologist with two decades of international and Australian experience spanning energy commodities, base metals, precious metals and battery minerals.

Mr Conaghan commenced his professional career as a graduate with Mt Isa Mines Exploration (MIMEX, later Xstrata Copper) where he spent 7 years in copper and gold exploration across northern Queensland and Argentina. Over the last decade he has mainly worked at senior geologist and exploration manager levels for junior explorers in the Lachlan Fold Belt of NSW and northern Victoria.

Commenting on the appointment, the Company’s CEO, Mark Major said: “The Company has recently assembled a portfolio of quality greenfield assets in tier 1 mining districts. We are pleased to welcome Erik to the team to drive our projects forward. His technical background and broad experience exploration within the Lachlan Fold Belt will greatly assist the Company as it advances its exploration efforts. Erik’s appointment and capabilities will be invaluable to deliver on the Company’s strategy of enhancing its projects, and maximising their potential.”

Mr Conaghan commented on his appointment: “I’m excited to be starting in this newly created role with Krakatoa. They hold a portfolio of quality projects, predominantly within the Lachlan Fold Belt, arguably one of the hottest exploration regions currently. I’m looking forward to working closely with the technical team to deliver for shareholders.”

To incentivise Mr Conaghan, the Company has agreed to issue 1,200,000 options exercisable at $0.075 on or before 29 November 2023 under the Company’s Employee Securities Incentive Plan, with 500,000 vesting on 1 years employment and the remaining 700,000 vesting on 2 years employment.

Authorised for release by the Board.

FOR FURTHER INFORMATION:

Colin Locke Executive Chairman +61 457 289 582 locke@ktaresources.com

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ASX Code Capital Structure 278,950,000 Fully Paid Shares KTA, KTAOC 82,800,000 Options @ 5c exp 31/07/21 5,000,000 Options @ 7.5c exp 31/07/21 15,000,000 Options @ 7.5c exp 29/11/23 15,000,000 Share Appreciation Rights

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ABOUT KRAKATOA:

Krakatoa is an ASX listed public Company predominately focused on gold exploration in the world class Lachlan Fold Belt, NSW across three projects: Belgravia, Turon and Rand.

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Belgravia Project (Krakatoa 100%):

The Belgravia Project covers an area of 80km[2] and is located in the central part of the Molong Volcanic Belt (MVB), East Lachlan province, between Newcrest Mining's Cadia Operations and Alkane Resources Boda Discovery. The Project has six initial target areas considered highly prospective for porphyry Cu-Au and associated skarn Cu-Au, with Bell Valley and Sugarloaf representing the two most advanced target areas. Bell Valley contains a considerable portion of the Copper Hill Intrusive Complex, the interpreted porphyry complex which hosts the Copper Hill deposit (890koz Au & 310kt Cu) and has highly prospective magnetic low features spanning 6km. Sugarloaf contains a 900m Deep Ground Penetrating Radar anomaly located within a distinctive magnetic low feature considered characteristic of a porphyry-style deposit and co-incident with anomalous rock chips including 5.19g/t Au and 1.73% Cu.

Turon Project (Krakatoa 100%):

The Turon Project covers 120km[2] and is located within the Lachlan Fold Belt's Hill End Trough, a north-trending elongated pull-apart basin containing sedimentary and volcanic rocks of Silurian and Devonian age. The Project contains two separate north-trending reef systems, the Quartz Ridge and Box Ridge, comprising shafts, adits and drifts that strike over 1.6km and 2.4km respectively. Both reef systems have demonstrated high grade gold anomalism (up to 1,535g/t Au in rock chips) and shallow gold targets (up to 10m @ 1.64g/t Au from surface to end of hole) that warrant detailed investigation.

Rand Project (Krakatoa 100%)

The Rand Project covers an area of 580km[2] , located approximately 60km NNW of Albury in southern NSW. The Project has a SW-trending shear zone that transects the entire tenement package forming a distinct structural corridor some 40 km in length. The historical Bulgandra Goldfield, which is captured by the Project, demonstrates the project area is prospective for shear-hosted and intrusion-hosted gold. Historical production records show substantial gold grades, including up to 265g/t Au from the exposed quartz veins in the Show Day Reef.

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