MINBOS RESOURCES LIMITED — Capital/Financing Update 2021

Apr 29, 2021

Proposed issue of securities

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Update Summary

Entity name

MINBOS RESOURCES LIMITED

Announcement Type

Update to previous announcement

Date of this announcement

Friday April 30, 2021

Reason for update to a previous announcement

Update securities and shareholder approval date.

Refer to next page for full details of the announcement

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Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

MINBOS RESOURCES LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2 Registered Number Type Registration Number ACN 141175493

1.3 ASX issuer code

MNB

1.4 The announcement is

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Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Update securities and shareholder approval date.

1.4b Date of previous announcement(s) to this update

Friday February 26, 2021

1.5 Date of this announcement

Friday April 30, 2021

1.6 The Proposed issue is:

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A placement or other type of issue

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity Yes

7A.1a Conditions

Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval Wednesday April 7, 2021 Actual Yes

Comments

Adviser Shares and options approved in general meeting 7 April 2021

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +security code and description

MNB : ORDINARY FULLY PAID

Number of +securities proposed to be issued

3,125,000

Reason for the update of 'Maximum Number of +securities proposed to be issued'

Offer price details

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Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

In lieu of cash payable to service to be provided in consideration for marketing services provided.

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Is the proposed security a 'New	Will the proposed issue of this
class' (+securities in a class that is	+security include an offer of
not yet quoted or recorded by ASX)	attaching +securities?
or an 'Existing class' (additional	No
securities in a class that is already
quoted or recorded by ASX)?
New class

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1? Will the entity be seeking quotation of the 'new' class of +securities on ASX? ASX +security code New class-code to be confirmed +Security description Adviser Option, exercise price $0.15, expiry 2 years from issue Yes No	Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1? Will the entity be seeking quotation of the 'new' class of +securities on ASX? ASX +security code New class-code to be confirmed +Security description Adviser Option, exercise price $0.15, expiry 2 years from issue Yes No
New class-code to be confirmed	Adviser Option, exercise price $0.15, expiry 2 years from issue

+Security type

Options

Number of +securities proposed to be issued

1,562,500

Reason for the update of 'Maximum Number of +securities proposed to be issued'

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? No

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Proposed issue of securities

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Proposed issue of securities	Proposed issue of securities
Please describe the consideration being provided for the +securities
In lieu of marketing services
Please provide an estimate of the AUD	equivalent of the consideration being
provided for the +securities
Will all the +securities issued in this class rank equally in all respects from
their issue date?
Yes
Options details
+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.1500
Details of the type of +security that will be issued if the option is exercised
MNB : ORDINARY FULLY PAID
Number of securities that will be issued if the option is exercised
One option can be converted to one fully	ordinary share ( ASX: MNB )
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities
proposed to be issued or provide the information by separate announcement.
Prospectus was lodged on 23 April 2021
Part 7C - Timetable
7C.1 Proposed +issue date
Friday April 30, 2021
Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 Wednesday April 7, 2021

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7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No 7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No 7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No Part 7E - Fees and expenses 7E.1 Will there be a lead manager or broker to the proposed issue? No 7E.2 Is the proposed issue to be underwritten? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue Part 7F - Further Information 7F.01 The purpose(s) for which the entity is issuing the securities In lieu of cash payable to service to be provided in consideration for marketing services provided. 7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

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