ORPHEUS URANIUM LIMITED — Capital/Financing Update 2022

Oct 16, 2022

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ASX Announcement

ASX:ARE

17 October 2022

Argonaut Receives $946,613 AusIndustry R&D Tax Rebate

Argonaut Resources NL ( Argonaut or the Company ) advises that it has received a $946,613 tax rebate following an application by the Company under the Australian Government’s AusIndustry R&D Tax Incentive program.

Argonaut’s application outlined its research and development of salt lake protection techniques for the transport and usage of heavy drilling equipment on the surface of Lake Torrens for the 2021 Murdie drilling program at Lake Torrens in South Australia.

The rebate is for the financial year to 30 June 2021.

This rebate together with the recent successful completion of a $1.8m rights issue means that Argonaut is well funded to continue exploration at the Darson Pegmatite swarm at Higginsville in Western Australia and to pursue the reinstatement of the Lumwana West copper-cobalt licence in Zambia.

Authorised for release by:

Lindsay Owler Director and CEO ARGONAUT RESOURCES NL

Registered Office Level 6 100 Pirie Street Adelaide, SA, 5000 Australia T +61 8 8231 0381 E info@argonaut.com.au

Argonaut Resources NL ABN 97 008 084 848

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