MINDAX LIMITED — Interim / Quarterly Report 2019

Oct 30, 2018

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ASX ANNOUNCEMENT

31 October 2018

ACTIVITIES FOR QUARTER ENDING 30 SEPTEMBER 2018

ASX Code: MDX ABN: 28 106 866 442

Corporate Description

Mindax is working towards regenerating exploration and development programs. Concurrently with that activity, a search for opportunities to participate in other mineral exploration projects will be generated.

Updates on:

• Mt Forrest Iron Project

• Meekatharra Gold Project

• Tenure and Tenements

Key Projects

Mt Forrest Iron/Gold Meekatharra Gold

• Corporate

Principal Address and Registered Office

Suite 2, 11 Ventnor Avenue West Perth WA 6005 Telephone: +61 8 9389 2111 Email: info@mindax.com.au

Investor Enquiries

Benjamin Chow Chairman Telephone: +61 8 9389 2111 Email: info@mindax.com.au

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MINDAX LIMITED | www.mindax.com.au

ASX Announcement Activities for Quarter Ending 30 September 2018

MT FORREST PROJECT

The Company has continued to review development options for the Mt Forrest Iron Project.

Discussions with infrastructure groups continued during the Quarter. The current regional infrastructure concept that is being discussed includes collaborating with other companies that surround the Mt Forrest Project. The aim is to create a ‘critical mass’ that would support the required resources to evaluate the economics of a large scale infrastructure project.

Discussions continue to advance however a commercial outcome has not been determined and it is uncertain if one will eventuate. The Company will continue to actively engage in discussions to determine if a commercial benefit will potentially result for Mindax Limited shareholders.

The Company will update shareholders with any further developments relating to the matter with the view to potentially unlock the stranded iron ore assets in the Midwest region of Western Australia.

No geological or other activity has been undertaken on the Mt Forrest tenements during the quarter.

MEEKATHARRA GOLD PROJECT

The Company has continued to advance EL51/1705 during the quarter ending 30 September 2018. An exploration drilling programme is anticipated to be completed as soon as practicable and work has been completed during the quarter to gain all required approvals. The Company considers the project area to be geologically prospective and is encouraged by the work that has been completed on the tenement to date.

TENURE

A total of 8 tenements covering more than 50 km[2] were held as at 30 September 2018. A list of the tenements and their locations are detailed in Annexure “A”.

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MINDAX LIMITED | www.mindax.com.au

ASX Announcement Activities for Quarter Ending 30 September 2018

CORPORATE

The Company continues to engage with parties regarding opportunities with respect to its mineral properties.

The Company held a General Meeting of shareholders on 17 July 2018 at which resolutions 1, 5 and 6 as contained in the Notice of Meeting dated 6 June 2018 were passed by the requisite majority, whilst resolutions 2, 3 and 4 were withdrawn.

Following shareholders’ approval, the Company issued 10,000,000 ordinary shares, at an issue price of $0.005, in satisfaction of a $50,000 loan from director Mr Andrew Tsang. The Company also issued 10,000,000 ordinary shares, at an issue price of $0.005, in satisfaction of $50,000 in director fees owed to Mr Benjamin Chow.

Capital Structure

The current issued capital of the Company is as follows:

Number Quoted	Class
824,424,008	Fully paid ordinary shares.

The Company successfully concluded capital raisings during the quarter which added $280,000 to the working capital position from the issue of 56,000,000 ordinary shares. An additional 7,000,000 ordinary shares were issued as consideration for consulting fees.

Annexure “A”

Tenements held by the Company at the beginning and end of the quarter

Tenement	Project	Locality	Status	Interest %
M29/257	Bulga Downs	Mount Forrest - Bulga Downs	Granted	100
M29/258	Bulga Downs	Mount Forrest - Bulga Downs	Granted	100
M29/314	Bulga Downs	Mount Forrest	Granted	100
M29/348	Bulga Downs	Toucan - Bulga Downs	Granted	100
M29/349	Bulga Downs	Macaw North - Bulga Downs	Granted	100
M29/350	Bulga Downs	Macaw - Bulga Downs	Granted	100
M29/351	Bulga Downs	Bulga Downs	Granted	100
E51/1705	Meekatharra	Meekatharra	Granted	100

End of Announcement

For further information, contact:

Benjamin Chow Chairman Mindax Limited Telephone: +61 8 9389 2111

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MINDAX LIMITED | www.mindax.com.au