POLYMETALS RESOURCES LTD — Share Issue/Capital Change 2021

Oct 24, 2021

ASX Announcement

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25 October 2021

Release of shares from escrow

Polymetals Resources Ltd (ASX: POL) (“Polymetals”, or “the Company”) advises that in accordance with ASX Listing Rule 3.10A, the following fully paid ordinary shares ( Shares ) will be released from escrow, effective as follows:

Date of release	Number of Shares to be
	released from escrow
29 October 2021	250,000
6 November 2021	277,778
12 November 2021	58,333

The Company will apply for quotation of the above Shares on each of the respective release dates. There will be no change to the issued capital of the Company as a result of the above.

Appendix 1 sets out the remaining Shares which are subject to escrow in the Company.

Authorised for Release

This ASX annoucement was authorised for release by Vince Fayad, Company Secretary.

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Contact information:

Vince Fayad Company Secretary vince.fayad@vfassociates.com.au +61 414 752 804

For more information, visit www.polymetals.com.

ASX: POL

Page 1 of 2 | ACN 644 736 247 Suite 6, Level 5, 189 Kent Street, Sydney NSW 2000 www.polymetals.com

ASX Announcement

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Appendix 1

Remaining Shares subject to Escrow

			Class	Number		Restrictionperiod	Restrictionperiod	Restrictionperiod	Restrictionperiod
Fully	paid	ordinary	shares		39,383,434	24 months	from date of		quotation
Fully	paid	ordinary	shares		7,500,000	12 months	from date of		quotation[1]
Fully	paid	ordinary	shares		333,333	Fromthe09/01/2022	date	of	quotation	to
Fully	paid	ordinary	shares		91,667	Fromthe11/01/2022	date	of	quotation	to
Fully	paid	ordinary	shares		41,667	Fromthe12/01/2022	date	of	quotation	to
Fully	paid	ordinary	shares		16,667	Fromthe15/01/2022	date	of	quotation	to
Fully	paid	ordinary	shares		16,667	Fromthe17/01/2022	date	of	quotation	to
Fully	paid	ordinary	shares		50,000	Fromthe19/01/2022	date	of	quotation	to
Fully	paid	ordinary	shares		66,667	Fromthe20/01/2022	date	of	quotation	to
Fully	paid	ordinary	shares		30,530	Fromthe31/01/2022	date	of	quotation	to

Notes to the above table

• [1] Voluntary escrow pursuant to a voluntary escrow deed entered into between the Company and Deering Nominees Pty Ltd ATF the Deering Family Trust.

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Page 2 of 2 | ACN 644 736 247| ASX: POL Suite 6, Level 5, 189 Kent Street, Sydney NSW 2000 www.polymetals.com