MRG METALS LIMITED — Capital/Financing Update 2022

Dec 1, 2022

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2 December 2022 Markets Announcement Platform Australian Securities Exchange

Issue of Shares and Options Notice under Section 708(5)(e) of the Corporations Act

MRG Metals Limited (ASX:MRQ) (“ MRG Metals ” or “ Company ”) advises today it will issue 13,860,000 fully paid ordinary shares (“ Lead Manager Shares ”) and 9,240,000 options to acquire fully paid ordinary shares (exercise price of $0.008 and expiring on 31 December 2025) (“ Lead Manager Options” ) to Peak Asset Management (or its nominee) in satisfaction of capital raising fees for capital services provided.

Notice under section 708A(5)(e) of the Corporations Act 2001 (Cth)

In connection with the issue of the Lead Manager Shares and the Lead Manager Options, MRG Metals hereby gives notice for the purposes of section 708A(6) of the Corporations Act 2001 (Cth) (the Act ), MRG Metals advises that:

• (a) the Relevant Securities were issued without a prospectus pursuant to Part 6D.2 of the Act;

• (b) this notice is being given pursuant to section 708A(5)(e) of the Act.

• (c) as at the date of this notice, MRG Metals has complied with:

  • (i) its financial reporting and auditing obligations under Chapter 2M of the Act; and (ii) its continuous disclosure obligations under section 674 of the Act; and

• (d) as at the date of this notice, there is no excluded information of the type referred to in section 708A(7) or 708A(8) of the Act to be disclosed under section 708A(6)(e) of the Act.

An Appendix 2A for the issue of new securities has been lodged today.

Yours faithfully

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Shane Turner

Company Secretary

MRG Metals Limited ABN: 83 148 938 532 / ASX Code: MRQ Phone: +61 3 5330 5800 / Fax: +61 3 5330 5890

12 Anderson Street West, Ballarat VIC 3350 / PO Box 237 Ballarat VIC 3353 www.mrgmetals.com.au / info@mrgmetals.com.au