PEEL MINING LIMITED — Capital/Financing Update 2021

Mar 17, 2021

==> picture [204 x 72] intentionally omitted <==

18[th] March 2021

The Manager Company Announcements Office ASX Limited Level 6, 20 Bridge Street SYDNEY NSW 2000

NOTICE UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT

On 18[th] March 2021, Peel Mining Limited ( Company ) completed the issue by way of placement of 70,000,000 fully paid ordinary shares in the capital of the Company ( Shares ) at an issue price of $0.265 per Share) to institutional and sophisticated investors. The placement was previously announced on 10 March 2021.

The Company gives notice pursuant to section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ) that:

• a) the Company issued the Shares without disclosure under Part 6D.2 of the Corporations Act; and

• b) as at the date of this notice, the Company has complied with:

  • i) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

  • ii) section 674 of the Corporations Act; and

• c) as at the date of this notice, there is no information to be disclosed which is excluded information (as defined in section 708A(7) of the Corporations Act) that is reasonable for investors and their professional advisers to expect to find in a disclosure document.

For and on behalf of the Board of Peel Mining Limited

Ryan Woodhouse

==> picture [189 x 45] intentionally omitted <==

Company Secretary

Ph: +61 8 9382 3955

Email: info@peelmining.com.au

Peel Mining Limited ACN 119 343 734 tel: (08) 9382 3955. email info@peelmining.com.au PO Box 849, West Perth WA 6872. Unit 1, 34 Kings Park Road, West Perth WA 6005 www.peelmining.com.au