MINDAX LIMITED — Capital/Financing Update 2021

Sep 14, 2021

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ASX ANNOUNCEMENT

15 September 2021

ASX Code: MDX ABN: 28 106 866 442

Principal Address and Registered Office Suite 2 11 Ventnor Avenue West Perth WA 6005 Telephone: +61 8 9389 2111

Investor Enquiries Mr Benjamin Chow AO Chair Telephone: +61 8 9389 2111

NORTON GOLD TRANSACTION UPDATE

Mindax Limited (ASX: MDX) ( Mindax or the Company ) reminds shareholders that the general meeting to consider, amongst other things, approval of the agreement with Norton Gold Fields Pty Ltd concerning an earn-in and joint venture over the Mt Forrest Project will be held on Thursday 16 September 2021.

As announced on 22 July 2021, Norton Gold and Mindax have agreed that Norton Gold will subscribe for securities in Mindax’s wholly owned subsidiary, Yilgiron Pty Ltd, pursuant to a subscription agreement dated 22 July 2021 ( Subscription Agreement ), and the parties will form an incorporated joint venture for the purposes of continuing exploration on and achieving the earning conditions for the Mt Forrest Project. The Subscription Agreement is subject to conditions precedent, including the receipt of Mindax shareholder approval for the transaction.

In the Company’s notice of meeting dated 16 August 2021, the Company advised that as at the date of the notice, two of the nine conditions precedent had been satisfied. As at today’s date, three of the nine conditions precedent have been satisfied.

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All that remains for the Subscription Agreement to proceed to Completion is the approval of Mindax shareholders at the general meeting on 16 September 2021, completion of due diligence investigations by Norton Gold, Yilgiron and Mindax entering into a deed of forgiveness in relation to intercompany loans, and the satisfaction of three conditions which can only be achieved at Completion. The deed of forgiveness is expected to be executed in the week beginning 20 September 2021 and Norton Gold have not, as at today’s date, provided any indication that the due diligence condition is not able to be satisfied. Subject to the receipt of shareholder approval to the transaction, Mindax is not aware of any matter that would prevent the satisfaction of the remaining Conditions.

MINDAX LIMITED | www.mindax.com.au

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This announcement has been authorised for release by Benjamin Chow AO, Chair.

End of Announcement For further information contact: Benjamin Chow AO Chair Mindax Limited Telephone: +61 8 9389 2111

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MINDAX LIMITED | www.mindax.com.au