MOUNT RIDLEY MINES LIMITED — Capital/Financing Update 2021

Mar 31, 2021

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ASX ANNOUNCEMENT

NOTICE UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT 2001

1 April 2021

This notice is given by Mount Ridley Mines Limited (“the Company”) pursuant to section 708A(5)(e) of the Corporations Act 2001 (Cth) (“Corporations Act”).

The Company has issued 343,521,304 fully paid ordinary shares at an issue price of $0.0025 per share to sophisticated and institutional investors of the Company.

In accordance with section 708A(5)(e) of the Corporations Act, the Company gives notice that:

1. the Company issued the Securities without disclosure under part 6D.2 of the Corporations Act;

2. as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Corporations Act as they apply to the Company and section 674 of the Corporations Act; and

3. as at the date of this notice, there is no “excluded information” (as defined in subsection 708A(7) of the Corporations Act) which is required to be disclosed by the Company.

This announcement has been authorised for release by the Company’s Board of Directors.

For further information, please contact:

Peter Christie Johnathon Busing Chairman Company Secretary +61 8 6165 8858 +61 8 6165 8858

Ground Floor 168 Stirling Hwy Nedlands WA

www.mtridleymines.com.au johnathon.busing@mtridleymines.com.au +61 8 6165 8858

ASX: MRD Mount Ridley Mines Limited ABN 93 092 304 964