MOHO RESOURCES LIMITED — Capital/Financing Update 2020

Apr 23, 2020

PLACEMENT

24 April 2020

Moho Resources Ltd (ASX: MOH ) (“ Moho ” or “ the Company ”) is pleased to announce that it was fully subscribed to professional and sophisticated investors in a challenging environment to raise $797,316 (before costs) via a placement (“ Placement ”) of 12,266,402 ordinary shares at an issue price of $0.065 per share (“ Placement Shares ”) under the Company’s ASX listing rule 7.1 and 7.1A capacity. The issue price per Placement Share of $0.065 represents a discount of 22% to the last closing day traded price of the Company’s shares on the ASX.

RM Capital Pty Ltd (“ RM ”) were lead managers to the Placement and will receive a Success Fee of $20,000 and a Lead Manager and Placement fee of 6% of all funds raised under the Placement. Under the terms of the Lead Manager Mandate a portion of the fees payable to RM may be settled in ordinary shares at a deemed issue price of $0.065 at RM’s election. The Company will convene a shareholders meeting to approve the issue of these shares to RM to take place within 60 days of completion of the Placement.

The funds raised from the placement will be used towards advancing its East Sampson gold prospect (Silver Swan North) in WA, through a scoping study towards a gold mining proposition and exploring its highly prospective gold projects (Empress Springs) in QLD, (Burracoppin) in WA and general working capital.

Allotment of the Placement Shares is anticipated to occur on or about 5 May 2020 under the Company’s existing placement capacity:

• 7,359,841 shares to be issued under the Company’s ASX Listing Rule 7.1 capacity; and

• 4,906,561 shares to be issued under the Company’s ASX Listing Rule 7.1A capacity.

ENDS

The Board of Directors of Moho Resources Limited authorised this announcement to be given to ASX.

For further information contact:

Ralph Winter

Commercial Director Moho Resources Limited T: +61 8 9481 0389

E: admin@mohoresources.com.au