ORE RESOURCES LIMITED — Capital/Financing Update 2024

Sep 23, 2024

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24 September 2024

ASX ANNOUNCEMENT

UPDATE ON NEPEAN NICKEL PROJECT SALE

Future Battery Minerals Limited ( ASX: FBM ) ( FBM or the Company ) refers to the ASX announcement dated 18 September 2024 regarding the revised the deferred consideration amounts payable by Rocktivity Nepean Pty Ltd ( Rocktivity ) under the tenement sale agreement between Rocktivity, Rocktivity Mining Pty Ltd ( Rocktivity Mining ) and Eastern Coolgardie Goldfields Pty Ltd ( Eastern Coolgardie ), a wholly owned subsidiary of FBM, ( Tenement Sale Agreement ) and advises that Rocktivity has paid the final deferred consideration payment of $773,656 (refer to the ASX announcement dated 18 September 2024 for further details).

Shareholders are advised that there will be no further cash payments from Rocktivity under the Tenement Sale Agreement, except for:

• the 1% net smelter royalty granted to Eastern Coolgardie on all minerals and metals produced and sold or otherwise disposed of for value on the Nepean Nickel Project tenements; and

• the payment of an additional $500,000 to Eastern Coolgardie, subject to the satisfaction of any of the following milestones:

  • Rocktivity and/or Rocktivity Mining completing the sale of all, or part of, the Nepean Nickel Project tenements for consideration of more than $5,000,000 (whether in cash, shares or any other forms of consideration); or

  • Rocktivity delineating a mineral resource of more than 300,000 ounces of gold in respect to all or part of the Nepean Nickel Project tenements.

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

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For further information visit www.futurebatteryminerals.com or contact:

Nicholas Rathjen CEO and Managing Director E : nrathjen@futurebatteryminerals.com.au

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info@futurebatteryminerals.com.au +61 8 6383 7817 futurebatteryminerals.com.au

Future Battery Minerals Ltd Suite 10, 38 Colin St, West Perth WA 6005 ABN 91 148 966 545

ASX: FBM

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