PACIFIC RESOURCES LIMITED — Capital/Financing Update 2021

Aug 1, 2021

2 August 2021

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ASX ANNOUNCEMENT

SUCCESSUL COMPLETION OF PLACEMENT OFFER

AustChina Holdings Limited (“AUH” or “the Company”) is pleased to announce a capital raising through a $980,400 placement to sophisticated and professional investors at an issue price of $0.006. One attaching option (exercise price $0.012, expiring 2 August 2023) will be issued to investors for every 2 shares issued under the placement.

Settlement of the Placement is expected to occur on Wednesday, 4 August 2021 with allotment of New Shares expected to occur on Thursday, 5 August 2021.

Funds raised under the capital raising will be used for:

• (a) Energy Generating Technologies - AUH is reviewing technologies that have potential for utilising inorganic and organic solid fuel inputs including waste materials and coal to produce energy and potentially other products. Funds will be directed to further investigation and due diligence towards potential agreements with the holders of these technologies.

• (b) Mineral Exploration – AUH is exploring opportunities to gain additional exposure in the copper space. The company expects to undertake due diligence on opportunities that arise. Should the opportunity progress, capital would be required to commence geological and geophysical studies.

• (c) Working Capital - Together with current funds held by the company, the additional funds will allow for working capital to meet the expected administration and ongoing tenement costs of the company for at least the next 12 months.

The company continues to hold 25.14% in Utilitas Group Pty Ltd, a company specialising in the design and delivery of process plants in the emerging biogas industry in Australasia. The biogas industry targets the production of energy along with other by-products from organic waste.

AUH also retains its existing copper interest through its 5% holding in Sector Projects Pty Ltd.

The issue price represents a discount of:

• 25% to the Company’s last close of $0.008 on the ASX;

• 28% to the Company’s 15 day VWAP of $0.00831

Signed for and on behalf of AustChina Holdings Limited:

Suzanne Yeates

Company Secretary AustChina Holdings Limited

AustChina Holdings Limited ABN 20 075 877 075 Level 16, 344 Queen Brisbane Queensland 4000 • GPO Box 762 Brisbane Queensland 4001 Australia T +61 7 3229 6606 • info@austchinaholdings.com • www.austchinaholdings.com