NIMY RESOURCES LIMITED — Capital/Financing Update 2021

Nov 17, 2021

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Pre-Quotation Disclosure Notice

The following information is required to be provided to ASX Limited ( ASX ) for release to the market in connection with the admission to the official list of, and official quotation of, fully paid ordinary shares in Nimy Resources Limited ACN 155 855 986 ( NIM or the Company ). Unless otherwise defined, capitalised terms used in this notice have the meaning given to them in the prospectus lodged by the Company with ASIC on 6 October 2021 ( Prospectus ).

1. Close of Offer and reciept of funds

The Company confirms that the Offer made by the Company pursuant to the Prospectus has closed and the Company has issued, as at 15 November 2021, 32,242,500 fully paid Shares at an issue price of $0.20 per share, raising $6,448,500 (gross). The Company has also issued 825,000 fully paid Shares to the Lead Manager as disclosed in the Prospectus.

The Company confirms that it has issued 12,450,000 Options to directors and key management personnel as disclosed in the Prospectus.

The Company confirms it has received cleared funds for the complete amount of the issue price of every share issued and allotted shares to successful applicants.

2. Restricted securities

The Company confirms that:

• (a) 59,145,244 Shares have been classified as restricted securities by ASX and will be subject to restrictions for a period of 24 months from the date of official quotation of the Shares.

• (b) 11,250,000 Options have been classified as restricted securities by ASX and will be subject to restrictions for a period of 24 months from the date of official quotation of the Shares.

• (c) 8,239,751 Shares have been classified as restricted securities by ASX and will be subject to restrictions for a period of 12 months from the date of issue of the Shares.

3. Capital structure

The Company’s current capital structure is as follows:

Securities	Number
Shares	114,268,340
Options(unquoted)	12,450,000

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The Company confirms the issue of the following Options:

Number	Issue Date	Exercise Price	Vesting Condition	Expiry Date
5,150,000	24 September 2021	30 cents	Admission to the	3 years from Issue
			official list	Date
3,650,000	24 September 2021	35 cents	Admission to the	4 years from Issue
			Official List	Date
3,650,000	24 September 2021	40 cents	Admission to the	5 years from Issue
			Official List	Date

4. Commitments

The Company confirms that there are no legal, regulatory, statutory or contractual impediments to NIM entering and carrying out exploration activities such that NIM will be able to spend its cash in accordance with its commitments for the purposes of Listing Rule 1.3.2(b).

The Company’s updated use of funds is set out below:

Uses of funds	Capital Raising under Prospectus	Capital Raising under Prospectus
	A$	%
Geochem and geophysical	489,000	7.58%
Drilling and assay costs	1,980,476	30.71%
Technical expert and studies	448,828	6.96%
Tenement and site access costs	515,573	8.00%
Total Exploration Costs	3,433,877	53.25%
Working capital	1,622,550	25.16%
Costs of the Offer	703,610	10.91%
Administration costs	688,463	10.68%
Total uses of funds	6,448,500	100.00%

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5. Updated pro-forma balance sheet (based on actual amount raised under the Offer)

AssetsCurrent assets	30 June 2021SubsequenteventsFunds raisedunderProspectusPro forma
	AuditedUnauditedUnauditedUnaudited
	$$ $$
Cash and cash equivalents	972,664(178,541)5,744,8906,539,013
Trade and other receivables	16,937--16,937
Total current assets	989,601(178,541)5,744,8906,555,950
Non-current assetsIntangiblesProperty plant & equipment
	1,563--1,563
	43,580(42,805)-775
Total non-current assets	45,143(42,805)-2,338
Total assets	1,034,744(221,346)5,744,8906,558,288
Liabilities
Current liabilities
Trade and other payables	56,636--56,636
Related party loans	346,346(346,346)--
Total current liabilities	402,982(346,346)-56,636
Total liabilities	402,982(346,346)-56,636
Net assets	631,762125,0005,744,8906,501,652
EquityIssued capitalReservesAccumulated lossesTotal Equity
	1,234,7411,280,0006,007,4458,522,186
	855,000338,130-1,193,130
	(1,457,979)(1,493,130)(262,555)(3,213,664)
	631,762125,0005,744,8906,501,652

For more information, please contact:

Christian Price

Managing Director

christian.price@nimy.com.au