LOYAL METALS LTD — Capital/Financing Update 2021

Jul 1, 2021

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1 July 2021

Confirmations

Monger Gold Ltd (ACN 644 564 241) ( Company ) provides the following confirmation to satisfy conditions for admission of the Company’s securities to quotation on ASX.

Completion under Tenement Sale and Purchase Agreement and entry into Joint Venture Agreements

The Company confirms all conditions precedent to the Tenement Sale and Purchase Agreement, dated 19 March 2021 ( Sale and Purchase Agreement ) have now been satisfied including the issue of;

• (a) 3,000,000 shares in the Company to Torian Resources Limited (ACN 002 261 565); and

(b) 3,000,000 options exercisable at $0.30 and expiring on a date that is three years after the date that the Company is admitted to the Official List of ASX,

and, as such, the Sale and Purchase Agreement has completed.

Further, the Company confirms, on 30 June 2021, it entered into the Joint Venture Agreement (Mt Monger) and Joint Venture Agreement (Gibraltar).

Signed on behalf of Monger Gold Ltd

Signature of Director

Peretz Schapiro

Name of Director (Please print)