MINBOS RESOURCES LIMITED — Capital/Financing Update 2021

Feb 25, 2021

26 February 2021

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ASX ANNOUNCEMENT

COMPLETION OF PLACEMENT AND CLEANSING NOTICE

Minbos Resources Limited (ASX:MNB) (“Minbos” or the “Company”) is pleased to announce that, further to the ASX announcement on 18 February 2021, it has issued 88,750,000 fully paid ordinary shares at $0.08 each to sophisticated investors.

The shares were issued using the Company’s existing placement capacity available with 55,448,684 shares issued under LR 7.1 and 33,301,316 shares issued under LR 7.1A.

For the purposes of section 708A(6) of the Corporations Act, the Company gives notice under section 708A(5)(e) of the Corporations Act as follows:

• a) the Company issued the Shares without disclosure to investors under Part 6D.2 of the Corporations Act;

• b) as at the date of this notice the Company has complied with:

• i) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

• ii) section 674 of the Corporations Act; and

• c) as at the date of this notice, there is no excluded information of the type referred to in sections 708A(7) and 708A(8) of the Corporations Act.

This announcement is authorised for release by Minbos Board.

- ENDS- For further information please contact: CEO Lindsay Reed Chris Swallow - Corporate Development Phone: +61 8 6270 4610 c.swallow@minbos.com

ABOUT MINBOS

Minbos Resources Limited (ASX:MNB) is an ASX-listed exploration and development company with a world-class phosphate ore project within the Cabinda Province of Angola. With fertilizer consumption on the African continent projected to reach 13.6 million tonnes by 2030 (7.6 million tonnes currently), the Company’s immediate focus is on bringing the Cabinda Phosphate Project into production, a de-risked project uniquely positioned to address the exponential agricultural growth in Middle Africa. The Company's vision is to build a nutrient supply and distribution business that stimulates agricultural production and promotes food security in Angola and the broader Middle Africa region.

ASX Code: MNB Office: Suite 1, 245 Churchill Avenue, Subiaco WA 6008 T: +61 8 6270 4610 E: info@minbos.com W: www.minbos.com ABN: 93 141 175 493

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ASX Release Cabinda Phosphate Project Scoping Study 26th August 2020

Compliance Statement

With reference to previously reported Scoping Study Results, the Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

Forward Looking Statements

Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices or potential growth of Minbos Limited, are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.

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ASX Code: MNB Office: Suite 1, 245 Churchill Avenue, Subiaco WA 6008 T: +61 8 6270 4610 E: info@minbos.com W: www.minbos.com ABN: 93 141 175 493