LEFROY EXPLORATION LIMITED — Capital/Financing Update 2020

Oct 28, 2020

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29 October 2020

Company Announcements Australian Securities Exchange Level 40, Central Park 152 - 158 St Georges Terrace Perth WA 6000

Dear Sir/Madam

Share Purchase Plan Notice

Lefroy Exploration Limited (ASX: LEX) ( Company ) refers to the announcement made on 22 October 2020 in respect of a placement and proposed share purchase plan ( SPP ).

In accordance with subparagraph 7(f)(ii) of ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/457 (Instrument), the Company advises that:

• 1. the Company will make offers to issue shares under the SPP without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (Cth) (Act);
• 1. this notice is being given in accordance with the Instrument;
• 1. as at the date of this notice:

  • a) the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company and section 674 of the Act; and

  • b) there is no excluded information for the purposes of sections 708A(7) and 708A(8) of the Act.

By order of the Board

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Susan Hunter Company Secretary

E: info@lefroyex.com T: +61 8 9321 0984 ARBN: 052 123 930

Australian Registered Office Level 2, 11 Ventnor Avenue West Perth, 6005

www.lefroyex.com