LOTUS RESOURCES LIMITED — Capital/Financing Update 2019

Aug 8, 2019

09 August 2019

ASX ANNOUNCEMENT

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Shareholder Approval Required Under ASX Listing Rule 10.1

Hylea Metals Limited (ASX:HCO) ( Hylea or the Company ) has been advised by ASX that ASX considers that the Company’s proposed acquisition (announced on 24 June 2019) of an indirect 65% interest in the Kayelekera Project requires:

• shareholder approval under ASX Listing Rule 10.1; and

• a report from an independent expert under ASX Listing Rule 10.10.2,

due to Hylea director Mr Tim Kestell’s indirect interest in the joint venture entity, Lotus Resources Pty Ltd, which will acquire the interest in the Project.

The Company has engaged an independent expert to prepare the necessary report and will update the market on the expected timing to obtain this approval in due course.

ENDS.

Hylea Metals Limited ABN 38 119 992 175

Ph: +61 8 9278 2441 www.hyleametals.com.au