MANUKA RESOURCES LTD. — Capital/Financing Update 2021

Nov 15, 2021

ASX Announcement 16 November 2021 ASX: MKR

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Steady Profits for October, Debt Further Reduced

Manuka is pleased to announce another month of strong gold sales and profitability from its Mt Boppy operation.

Manuka Resources Limited (Manuka or the Company) is pleased to advise of another strong month, achieving $2.26 million in profit for October (excluding unrealised foreign exchange gains from the existing USD debt facility).

The Company also made a further principal repayment during October.

	change gains from the existing USD debt facility).	change gains from the existing USD debt facility).	change gains from the existing USD debt facility).
	e Company also made a further principal repayment during October.
SGSi	ales Revenuesold soldlver sold	AUD $6.19 million2,485 oz2,998 oz
Total costs (including finance and corporateoverhead)	tal costs (including finance and corporatehd	AUD $3.93 million
Unaudited Monthly profit		AUD $2.26 million

The Company advises that following what is now four months of excellent cashflow generation, it has elected to make a further principal repayment of US$1 million against its existing debt facility during October 2021. As advised previously, the Facility is not due for repayment until 30[th] September 2022, but Manuka has the capacity within the terms of the Facility to make early repayments with no penalty. The residual balance is now reduced to USD$8.0 million.

Manuka continues to work towards an internal target for debt repayment to occur in Q1 2022, in line with the conclusion of gold production from the current pit-shell at Mt Boppy.

Manuka will conduct its next blast at Mt Boppy on 18 November (RL 170), which is the final blast in the current mine program. Gold production from this current program is expected to continue into March 2022, following which the Company will commence processing its 515,000 tonnes of stockpiles (grading 70g/t silver as per ASX release 1 April 2021) located at the Wonawinta plant.

There are currently two drill rigs on site at Mt Boppy conducting an extensive exploration program, targeting mineralisation beneath the existing pit shell. This was outlined in the recent September 2021 Quarterly Activities Report. An exploration update will be released to the market during November.

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61 412 268114 www.manukaresources.com.au

About Manuka

Manuka Resources Limited (ASX: MKR) is an Australian mining and exploration company located in the Cobar Basin, central west New South Wales. It is the 100% owner of two fully permitted gold and silver projects which include the following:

• Mt Boppy Gold mine and neighbouring tenements. The Mt Boppy project is currently in production and processing its gold ore through the Company’s processing plant at Wonawinta.

• Wonawinta silver project, with mine, processing plant and neighbouring tenements. The Wonawinta processing plant has a nameplate capacity of 850,000 tonnes per year.

• Highly prospective exploration targets on its ~1250km[2] tenement portfolio in the Cobar Basin

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

For further information contact: Dennis Karp Media Contact Executive Chairman Angela East Manuka Resources Limited M+C Partners 0412 268 114 0428 432 025

Important Information

This report includes forward-looking statements and comments about future events, including the Company’s expectations about the performance of its businesses. Forward-looking words such as “expect”, “should”, “could”, “may”, “predict”, “plan”, “will”, “believe”, “forecast”, “estimate”, “target” or other similar expressions are intended to identify forward-looking statements. Such statements involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company and which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Forward-looking statements are provided as a general guide only and should not be relied on as an indication or guarantee of future performance. Given these uncertainties, recipients are cautioned to not place undue reliance on any forward-looking statement. Subject to any continuing obligations under applicable law, the Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements in this report to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statement is based. No Limited Party or any other person makes any representation, or gives any assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in the report will occur.

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61 412 268114 www.manukaresources.com.au