MARVEL GOLD LIMITED — Capital/Financing Update 2020

Mar 12, 2020

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13 March 2020

Notice pursuant to section 708a(5)(E) of the Corporations Act 2001

This notice is given by Graphex Mining Limited (ASX: GPX) ( Graphex or the Company ) under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Act ).

The Company advises that, as detailed in the Appendix 3B dated 6 March 2020, it has issued 13,581,314 fully paid ordinary shares to professional and sophisticated investors.

Graphex gives notice that:

1. the Shares were issued without disclosure to the investors under Part 6D.2 of the Corporations Act;

2. as at the date of this notice the Company has complied with:

i. the provision of Chapter 2M of the Corporations Act as they apply to the Company; and

ii. section 674 of the Corporations Act; and

1. as at the date of this notice there is no excluded information required to be disclosed under section 708A(6)(e) of the Corporations Act.

Loan Note Subscription Agreement

The Company confirms that as at 31 December 2019, the US$5 million debt facility in the form of secured loan notes issued to Castlelake L.P, was fully drawn.

Authorised by the Board.

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Stuart McKenzie Company Secretary

For further information, please contact: Phil Hoskins – Managing Director Tel: +61 8 9200 4960

Stuart McKenzie – Commercial Manager and Company Secretary Tel: +61 8 9200 4960

For more information, visit www.graphexmining.com.au.

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