NT MINERALS LIMITED — Capital/Financing Update 2020

May 28, 2020

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CAPITAL RAISING UPDATE

Redbank Copper Limited (ASX: RCP) (‘ Redbank ’ or ‘ the Company ’) is pleased to provide the following update in relation to a proposed capital raising by the Company.

Redbank advises that it has executed a joint mandate with Viridian Capital Pty Ltd (‘ Viridian ’) (an entity of which Director Mr Daryl Henthorn is a director and shareholder) and CPS Capital Group Pty Ltd (‘ CPS ’) to act as Lead Managers for a placement to sophisticated investors (‘ the Placement’ ).

Under the mandate for the placement, Viridian and CPS will use their best endeavors to raise $1.5m (before costs) at a price yet to be determined. The Placement will be conducted under normal commercial terms with a fee of 6% on funds raised to be paid proportionately to the amount raised by Viridian and CPS.

Funds raised under the Placement will be used to accelerate the Company’s activities at the Redbank Project in the MacArthur Basin in the Northern Territory and at the Millers Creek Project in South Australia as well as working capital.

The Placement will be completed using Redbank’s existing placement capacity under ASX Listing Rules 7.1 and 7.1A.

ASX ANNOUNCEMENT ASX Code: RCP

29 May 2020

For further information please contact: Michael Hannington Executive Chairman Ph: +61 8 6558 1859

This announcement was approved and authorised for issue by the Board of RCP.

DIRECTORS & MANAGEMENT

Michael Hannington Executive Chairman Daryl Henthorn Non-Executive Director Keith Middleton Non-Executive Director

Kelly Moore Company Secretary

A: L1, 1A Agnew Way, Subiaco WA 6008

P: PO Box 924, SUBIACO WA 6904

PH: +61 8 6558 1859 FAX: +61 8 9380 8300

e: info@redbankcopper.com.au www.redbankcopper.com.au

ACN: 059 326 519 ABN: 66 059 326 519