MARVEL GOLD LIMITED — Capital/Financing Update 2020

Mar 10, 2020

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11 March 2020

SHARE PURCHASE PLAN CLEANSING NOTICE

Graphex Mining Limited (ASX: GPX) (‘ Graphex ’ or the ‘ Company ’) refers to its announcement dated Friday, 6 March 2020 in relation to its proposed Share Purchase Plan to raise up to $0.25 million (‘ Plan ’).

Further to that announcement and pursuant to ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547 (' ASIC Instrument '), Graphex gives notice that:

1. Graphex will make offers to issue ordinary fully paid shares under the Plan without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (Cth) (‘ Corporations Act ’);

2. This notice is being given in accordance with the terms of the ASIC Instrument;

3. As at the date of this notice, Graphex has:

   • a. complied with the provisions of Chapter 2M of the Corporations Act as they apply to Graphex; and

   • b. complied with section 674 of the Corporations Act; and

4. There is no information which is “excluded information” as at the date of this notice (in accordance with the requirements of subsections 708A(7) and 708A(8) of the Corporations Act as if this notice were a notice under paragraph 708A(5)(e) of the Corporations Act).

Authorised by the Board.

Stuart McKenzie Company Secretary

For further information, please contact: Stuart McKenzie – Commercial Manager and Phil Hoskins – Managing Director Company Secretary Tel: +61 8 9200 4960 Tel: +61 8 9200 4960

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