MT MALCOLM MINES NL — Capital/Financing Update 2022

Feb 6, 2022

Proposed issue of securities

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Announcement Summary

Entity name

MT MALCOLM MINES NL

Announcement Type

New announcement

Date of this announcement

7/2/2022

The Proposed issue is:

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A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
M2M	ORDINARY FULLY PAID	1,000,000

Proposed +issue date 31/1/2022

Refer to next page for full details of the announcement

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Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

MT MALCOLM MINES NL

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

ACN

Registration Number 646466435

1.3 ASX issuer code

M2M

1.4 The announcement is

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New announcement

1.5 Date of this announcement

7/2/2022

1.6 The Proposed issue is:

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A placement or other type of issue

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? No

Part 7B - Issue details

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? Existing class

Details of +securities proposed to be issued

ASX +security code and description

M2M : ORDINARY FULLY PAID

Number of +securities proposed to be issued

1,000,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

The Company issued the Shares under a Tenement Acquisition Agreement (Agreement) dated 31 May 2021 with Magnetic Resources NL, in which the Company agreed to issue 1,000,000 shares upon the renewal of certain prospecting licences. This has now occurred. The issue of these shares was stated in the Company's Prospectus lodged with the ASX on 8 September 2021. Section 9.2 of the Prospectus contains a summary of the material terms of the Agreement.

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 100,000.000000

Will these +securities rank equally in all respects from their issue date with

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the existing issued +securities in that class? Yes

Part 7C - Timetable 7C.1 Proposed +issue date 31/1/2022

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? No 7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes 7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?

1,000,000 shares

7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No 7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? Yes 7D.3a Please enter, the number and +class of the +restricted securities and the date from which they will cease to be +restricted securities 1,000,000 fully paid ordinary shares restricted up till 10 September 2022.

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? No

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7E.2 Is the proposed issue to be underwritten?

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No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

None

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities

As per the Prospectus on 8/9/2021, the Company agreed to issue 1,000,000 shares to Magnetic Resources NL upon the renewal of certain prospecting licences under their Tenement Acquisition Agreement dated 31/5/2021. This has now occurred.

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

The Company issued the Shares under a Tenement Acquisition Agreement (Agreement) dated 31 May 2021 with Magnetic Resources NL, in which the Company agreed to issue 1,000,000 shares upon the renewal of certain prospecting licences. This has now occurred. The issue of these shares was stated in the Company's Prospectus lodged with the ASX on 8 September 2021. Section 9.2 of the Prospectus contains a summary of the material terms of the Agreement. The fully paid ordinary shares will be restricted up till 10 September 2022.

7F.3 Any on-sale of the +securities proposed to be issued 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)

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