MINREX RESOURCES LIMITED — Share Issue/Capital Change 2021

Oct 20, 2021

Application for quotation of +securities

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Announcement Summary

Entity name

MINREX RESOURCES LIMITED

Announcement Type

New announcement

Date of this announcement

Wednesday October 20, 2021

The +securities to be quoted are:

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Other

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
MRR	ORDINARY FULLY PAID	1,250,000	20/10/2021

Refer to next page for full details of the announcement

Application for quotation of +securities

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Application for quotation of +securities

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Part 1 - Entity and announcement details

1.1 Name of entity

MINREX RESOURCES LIMITED

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type

ACN

Registration number 151185867

1.3 ASX issuer code

MRR

1.4 The announcement is

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New announcement

1.5 Date of this announcement

20/10/2021

Application for quotation of +securities

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Application for quotation of +securities

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Part 2 - Type of Issue

2.1 The +securities to be quoted are:

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Other

2.2 The +securities to be quoted are:

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Additional +securities in a class that is already quoted on ASX ("existing class")

2.3c Have these +securities been offered under a +disclosure document or +PDS?

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No

2.3d Please provide any further information needed to understand the circumstances in which you are applying to have these +securities quoted on ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Agreement to issue shares was executed today, with share issue and allotment to be completed immediately afterwards

2.4 Any on-sale of the +securities to be quoted within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)

Application for quotation of +securities

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Application for quotation of +securities

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Part 3B - number and type of +securities to be quoted (existing class) where issue has not previously been notified to ASX in an Appendix 3B

Additional +securities to be quoted in an existing class

ASX +security code and description MRR : ORDINARY FULLY PAID Issue date 20/10/2021 Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class? Yes Issue details

Number of +securities to be quoted

1,250,000 Are the +securities being issued for a cash consideration? No Please describe the consideration being provided for the +securities

Shares issued as part of the consideration payable for the acquisition of Moghul Mining Pty Ltd.

Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted 20,000.000000

Any other information the entity wishes to provide about the +securities to be quoted

Shares issued as part of the consideration payable for the acquisition of Moghul Mining Pty Ltd, whose only asset is a single tenement application ELA 45/5852. Shares issued at a deemed issue price of $0.016 per Share, representing the price of the Company¿s shares on ASX when the acquisition was negotiated.

The purpose(s) for which the entity is issuing the securities

To pay for the acquisition of an asset

Please provide additional details

Total consideration for the acquisition of Moghul Mining Pty Ltd comprised the Shares the subject of this notice, $10,000 in cash and a 0.75% NSR royalty over ELA 45/5852

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Application for quotation of +securities

Part 4 - Issued capital following quotation

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Following the quotation of the +securities the subject of this application, the issued capital of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +securities (total number of each +class of +securities quoted on ASX following the +quotation of the +securities subject of this application)

	Total number of
ASX +security code and description	+securities on issue
MRR : ORDINARY FULLY PAID	584,387,055
4.2 Unquoted +securities (total number of each +class of +securities issued but not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
MRRAB : OPTION EXPIRING 30-SEP-2022 EX 4C	33,333,333
MRRAO : OPTION EXPIRING 08-APR-2023 EX $0.04	79,666,667
MRRAQ : PERFORMANCE RIGHTS	2,000,000
MRRAM : OPTION EXPIRING 31-OCT-2022 EX 4C	2,023,170
MRRAP : OPTION EXPIRING 09-APR-2023 EX $0.045	22,500,000
MRRAN : PERFORMANCE RIGHTS	15,000,000

4.2 Unquoted +securities (total number of each +class of +securities issued but not quoted on ASX)

Application for quotation of +securities

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Application for quotation of +securities

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Part 5 - Other Listing Rule requirements

5.1 Are the +securities being issued under an exception in Listing Rule 7.2 and therefore the issue does not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

1,250,000 fully paid ordinary shares

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

Application for quotation of +securities

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