PACGOLD LIMITED — Capital/Financing Update 2022

Apr 27, 2022

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PACGOLD ENTITLEMENT OFFER COMMENCES

Pacgold Limited ( Pacgold ) (ASX:PGO) confirms that the entitlement offer booklet ( Offer Booklet ) and personalised entitlement and acceptance forms for the underwritten pro rata non-renounceable entitlement offer of new fully paid ordinary shares ( New Shares ) to Eligible Shareholders ( Entitlement Offer ), as announced to the ASX on 20 April 2022, was despatched to Eligible Shareholders today.

A letter to Ineligible Shareholders notifying them of the Entitlement Offer and their ineligibility to participate has also been despatched.

A copy of the Offer Booklet (and the personalised Entitlement and Acceptance Form/payment details) is accessible to Eligible Shareholders at https://pgooffer.thereachagency.com. Unless specified otherwise, terms defined in the Offer Booklet have the same meaning in this announcement.

Entitlement Offer

The Entitlement Offer opened on Thursday, 28 April 2022. Pacgold encourages Eligible Shareholders who wish to participate in the Entitlement Offer to act promptly to take up all or part of their Entitlement, in accordance with the instructions set out in the Offer Website at https://pgooffer.thereachagency.com and section 2 of the Offer Booklet. The Entitlement Offer closes at 5.00pm (Melbourne time) on Monday, 9 May 2022 (unless extended). Application monies must be received prior to this time, in accordance with the timetable set out in the Offer Booklet.

Shareholder enquiries

Eligible Shareholders are encouraged to carefully read the Offer Booklet for further details relating to the Entitlement Offer.

If you have any questions in relation to the Offer, please call your stockbroker, accountant or other professional adviser or the Information Line 1300 850 505 (within Australia) or +61 3 9415 4000 (outside Australia) between 8:30am and 5:00pm (Melbourne time), Monday to Friday during the Entitlement Offer period.

Nothing in this announcement, the Offer Booklet or the Investor Presentation constitutes legal, tax or other advice. You should seek appropriate professional advice before making any investment decision.

All dollar amounts are in Australian dollars unless otherwise indicated.

For more information:

Tony Schreck Managing Director tschreck@pacgold.com.au +61 (9) 419 683 196

Victoria Humphries Media & Investor Relations victoria@nwecommunications.com.au +61 (0) 431 151 676

About Pacgold Limited : Pacgold is an ASX-listed minerals exploration company (ASX: PGO) focussed on the Alice River Gold Project situated at the northern end of the Northeast Queensland Mineral Province. This gold-rich Province contains several multi-million-oz gold deposits including Pajingo, Mt Leyshon, Kidston and Ravenswood.

Pacgold has a 100% interest in the Alice River Gold Project, covering an historical high-grade goldfield and open-pit mine with eight mining leases and five exploration permits (granted) and two exploration permits (under application) over an area spanning 1,027km2.

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