MANUKA RESOURCES LTD. — Capital/Financing Update 2024

Feb 6, 2024

ASX Announcement 7 February 2024

ASX: MKR

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Manuka Resources opens its Share Purchase Plan

Manuka Resources Ltd (ASX: MKR) is pleased to advise that it has opened its Share Purchase Plan (SPP) as announced to the market on 2 February 2024.

Please see attached the letter from the Executive Chairman outlining the details of the SPP.

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

For further information contact: Dennis Karp Executive Chairman Manuka Resources Limited 0412 268 114

Media Contact Angela East M+C Partners 0428 432 025

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +612 7253 2020 www.manukaresources.com.au

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Letter from the Executive Chairman

7 February 2024

Dear Shareholder,

OPPORTUNITY TO PARTCIPATE IN SHARE PURCHASE PLAN

On behalf of the board of directors ( Board ) of Manuka Resources Limited ACN 611 963 225 ( Manuka or Company ), I am pleased to offer Eligible Shareholders (defined below) the opportunity to participate in the Company’s recently announced share purchase plan ( Share Purchase Plan or SPP ).

The SPP follows the Company’s successful institutional placement of New Shares (defined below) under which the Company firm commitments from a number of new and existing sophisticated investors to raise approximately $2.5 million cash together with $2.5 million debt conversion to give a total placement of approximately $5 million ( Placement[1] and, together with the SPP, the Offer ).

The Share Purchase Plan gives Eligible Shareholders the opportunity to subscribe for up to $30,000 worth of new fully paid ordinary shares in the Company (each, a New Share ) without incurring any brokerage or transaction costs. The SPP aims to raise up to $1 million[2] and is not underwritten.

To the extent it is necessary to scale back the number of New Shares that will be issued to Eligible Shareholders under the SPP, the Company intends to do so having regard to the pro rata shareholdings of Eligible Shareholders (i.e. as at the SPP Record Date) who apply for New Shares[3] .

The funds raised under the Offer, will be used by the Company to:

• Advance final regulatory approvals for Taranaki VTB Project

• Progress project studies at Mt Boppy

• Pay certain creditors and for general working capital purposes

• Retire $2.49 million of debt by way of a debt for equity conversion ($0.97 million of which is subject to shareholder approval under Listing Rule 10.11)

Issue Price

Eligible Shareholders may subscribe for up to $30,000 worth of New Shares under the SPP at the issue price per New Share of $0.07 ( Issue Price ).

The Issue Price per New Share under the SPP is the same as the issue price that institutional investors paid for New Shares under the Placement.

The New Shares to be issued under the SPP are expected to be issued by the Company on 28 February 2024.

Participation

The Company is offering existing holders of its shares who have a registered address in Australia or New

1 For further information in relation to the Placement (and the proposed use of proceeds raised under the Offer), please see Manuka’s ASX announcement dated 2 February 2024. $0.97 million of debt retirement is subject to Shareholder approval.

2 Manuka may (in its absolute discretion) decide to accept applications (either in whole or in part) under the SPP that results in it raising more or less than this amount.

3 However, Manuka may also, where considered appropriate, scale back the number of New Shares that will be issued to Eligible Shareholders who apply for New Shares in its absolute discretion.

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +02 7253 2020 www.manukaresources.com.au

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Zealand and who are on the Company’s share register at 7pm (Sydney time) on 1 February 2024 ( SPP Record Date ) ( Eligible Shareholders ) the opportunity to participate in the Share Purchase Plan. Participation in the SPP is optional.

The SPP is also open to Eligible Shareholders who are custodians who apply for New Shares on behalf of “ participating beneficiaries ” (as that term is defined in ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547 ( ASIC SPP Instrument )) provided that they do so on the terms and subject to the conditions of the SPP.

The right of an Eligible Shareholder to participate in the SPP is not transferable to any other person.

How to apply

The SPP opens on 7 February 2024 and, unless the closing date for the SPP is extended or the SPP is closed earlier or withdrawn by the Company, is expected to close at 5pm (Sydney time) on 23 February 2024. Applications for New Shares can only be made in $1,000 increments and must be for a minimum of $1,000 and a maximum of $30,000.

Eligible Shareholders may participate in the SPP by following the instructions on their personalised SPP Application Form which is accessible at https://investor.automic.com.au/#/home. Payment must be made directly via BPAY® or EFT (for Eligible Shareholders with a registered address in Australia or New Zealand) ensuring to use the unique reference number provided on your personalised SPP Application Form). This is the fastest and easiest way to apply.

As noted above, the SPP is expected to close at 5pm (Sydney time) on Friday, 23 February 2024 (unless varied or extended) and payment must be received before this time. Please take into account BPAY® or EFT processing times. Please note the company will not be accepting payment by cheque.

Further details as to the application process are included in the SPP Offer Booklet, which can be accessed at https://www.manukaresources.com.au/site/investor-centre/share-purchase-plan-spp. Terms and Conditions and the application form can be accessed at https://investor.automic.com.au/#/home. As noted below, the Board urges you to read the SPP Offer Booklet carefully and in its entirety for the full terms governing the SPP.

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +02 7253 2020 www.manukaresources.com.au

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To download your application form you have the following 3 choices:

I already have an online account with the Automic Share registry	I don’t have an online account with Automic – but wish to register for one	I don’t have an online account with Automic – but want to use Automic for the SPP only
https://investor.automic.com.au Select: "Existing Users Sign In". Once you have successfully signed in, click on "Documents and Statements". Download the Terms and Conditions and application form. Submit your payment using the payment details provided on your application form. Do not return your application form.	https://investor.automic.com.au/#/si gnup Select_Manuka Resources Ltd_from the dropdown list in the ISSUER field. Enter you holder number SRN / HIN (from your latest Holding Statement). Enter your Postcode (Australia) or Country of Residence (Outside Australia). Tick box "I am not a robot", then Next Complete prompts. Once you have successfully signed in, click on "Documents and Statements". Download the Terms and Conditions and application form. Submit your payment using the payment details provided on your application form. Do not return your application form.	https://investor.automic.com.au/#/lo ginsah Select_Manuka Resources Ltd_from the dropdown list in the ISSUER field. Enter you holder number SRN / HIN (from your latest Holding Statement). Enter your Postcode (Australia) or Country of Residence (Outside Australia). Tick box "I am not a robot", then Next Complete prompts. Once you have successfully signed in, click on "Documents and Statements". Download the Terms and Conditions and application form. Submit your payment using the payment details provided on your application form. Do not return your application form.

Important Information

Eligible Shareholders who have elected to receive documents issued by the Company in electronic form will receive an email which will include a link to the SPP Offer Booklet and to their personalised SPP Application Form. All other Eligible Shareholders will receive a letter which will include details explaining how they may access these materials and apply for the offer.

The SPP is governed by the terms and conditions in the SPP Offer Booklet. The Board urges you to read the Offer Document carefully and in its entirety, together with announcements made by the Company to ASX, before deciding whether to participate in the SPP and seek your own investment or taxation advice if applicable to you.

Enquiries

If you have any queries in relation to your personalised SPP Application Form, please contact the Company’s Share Registry, Automic Group on 1300 288 664 (within Australia) or +61 2 9698 5414 (international) between 8:30am - 7pm (Sydney time) Monday to Friday. If you have any queries regarding the SPP, please contact the Company’s head office on +61 2 7253 2020.

On behalf of the Board, I thank you for your continued support of the Company and invite you to consider participating in the SPP.

Yours sincerely

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Dennis Karp Executive Chair Manuka Resources Ltd

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +02 7253 2020 www.manukaresources.com.au

About Manuka Resources Limited

Manuka Resources Limited (ASX: MKR) is an Australian mining and exploration company with key assets located in the Cobar Basin, central west New South Wales. In addition to its recent acquisition of Trans-Tasman Resources Limited owner of the Taranaki VTM Project, it is the 100% owner of two fully permitted mining projects, one gold and one silver, both within the Cobar Basin, which include the following:

• Gold - Mt Boppy Gold mine, 48-person mine camp and neighbouring tenements, hosting an existing open pit mineral resource[1] and combined ROM, waste and tailings material all of which lend themselves to upgrading through screening. The Company has commenced a screening and gold recovery project, processing the product at its Wonawinta plant. Manuka also awaits the outcome of its forthcoming exploration program to determine as to whether the future for mining any Mt Boppy extensions will be as an underground or open cast mine;

• Silver - Wonawinta silver project, with mine, 84 person mine camp, processing plant and neighbouring tenements. Previously renowned as the largest primary producer of silver in Australia, the mine hosts a significant JORC resource[2] . The Wonawinta processing plant has a nameplate capacity of >850,000 tonnes per year (which the Company now sees expanded to >1.0Mt/yr.

The Taranaki VTM (vanadium titano magnetite) Iron Sands Project recently released its maiden vanadium resource[3] which ranks it as one of the largest drilled vanadium projects globally (as well as a 3.2Bt JORC resource). The Project is located outside New Zealand territorial waters (within its EEZ or exclusive economic zone) and has a granted mining licence, MP55581 permitting production of 5Mt/a. The project is located in waters ranging between just 20 – 40 metres depth. The Project sits in the lowest quartile of the iron ore production cost curve. The Company awaits the reissuance of its Environmental Approval before completing its Bankable Feasibility Study.

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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

1 ASX release 29 July 2022 2 ASX release 1 April 2021 3 ASX release 1 March 2023

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +612 7253 2020 www.manukaresources.com.au

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 +612 7253 2020 www.manukaresources.com.au