LEEUWIN METALS LTD — Capital/Financing Update 2023

Oct 15, 2023

ASX ANNOUNCEMENT | 16 October 2023

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Termination of Sale and Purchase Agreement

Critical metals explorer Leeuwin Metals Ltd ( LM1 or the Company ) ( ASX: LM1 ) refers to the agreement entered into with Rocas Del Norte Incorporated ( Vendor ) dated 1 September 2023 ( Agreement ), as referred to in the Company's ASX announcement on the same date.

The Company wishes to advise that it has given a notice of termination of the Agreement to the Vendor for non-satisfaction of the due diligence condition precedent in the Agreement, thereby terminating the Agreement in accordance with its terms effective as of 14 October 2023. Therefore, the Company will not be proceeding with this proposed acquisition.

This announcement has been approved for release by the Board of Directors.

KEY CONTACTS

Christopher Piggott

Managing Director E info@leeuwinmetals.com T +61 8 6556 6427

Leeuwin Metals Ltd ASX: LM1 | ACN 656 057 215 A: Level 2, Suite 16, 420 Bagot Road, Subiaco, Western Australia 6008 T: +61 8 6556 6427 E: info@leeuwinmetals.com W: leeuwinmetals.com

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ASX ANNOUNCEMENT | 13 October 2023

About Us

Leeuwin Metals Ltd ( Leeuwin ) is a mineral explorer committed to securing critical metals vital for the advancement of electric vehicles and renewable energy.

Leeuwin has five projects, three located in Canada and two in Western Australia, which are collectively highly prospective for Nickel, Copper, PGE, and Lithium.

Our goal is to contribute to the global shift towards decarbonisation and electrification, working towards a greener future. Leeuwin is led by a skilled team with expertise in project generation, discovery, development, operations, and transactions.

William Lake Nickel Project is the flagship asset where the Company is exploring for high-grade Nickel, Copper and PGE mineralisation hosted in sulphides. The project is located in the Thompson Nickel Belt, which is highly fertile with several existing nickel mines currently in production.

Cross Lake Lithium Project is highly prospective for LCT type pegmatites. The project is located in the Cross Lake greenstone belt with previous drilling intercepting spodumene bearing pegmatites with grades of +1% Li2O present.

Complimentary Projects located in Western Australia and Ontario targeting Lithium and REE’s.

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Leeuwin Metals Ltd ASX:LM1 | www.leeuwinmetals.com

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