POLYMETALS RESOURCES LTD — Regulatory Filings 2021

Jun 24, 2021

Polymetals Resources Ltd ACN 644 736 247

SUPPLEMENTARY PROSPECTUS

1. Supplementary Prospectus

This document is a supplementary prospectus ( Supplementary Prospectus ) to the prospectus dated 21 April 2021 ( Prospectus ) issued by Polymetals Resources Ltd (ACN 644 736 247) ( Company ).

This Supplementary Prospectus is dated 28th May 2021, and was lodged with ASIC on that date. Neither ASIC, ASX nor any of their respective officers or employees take any responsibility for the content of this Supplementary Prospectus.

This Supplementary Prospectus should be read together with the Prospectus. If there is a conflict between the Prospectus and this Supplementary Prospectus, this Supplementary Prospectus prevails. Unless otherwise indicated, terms defined and used in the Prospectus have the same meaning in this Supplementary Prospectus.

The Company has issued both a printed and electronic version of this Supplementary Prospectus and the Prospectus. Electronic versions of both may be accessed at www.polymetals.com.

This Supplementary Prospectus and the Prospectus are important documents and should be read in their entirety. If you do not understand this Supplementary Prospectus and the Prospectus, you should consult your professional advisers without delay.

2. Indicative Timetable

The Board of the Company has resolved to extend the Closing Date of the Offer from 28 May 2021 to 11 June 2021. An updated table outlining Key Indicative Dates has been provided below:

Key Indicative Dates*

Lodgement of Prospectus with the ASIC	21 April 2021
Exposure Period begins	21 April 2021
Opening Date	29 April 2021
Closing Date	11 June 2021
Issue of Shares under the Offer	18 June 2021
Despatch of holding statements	21 June 2021
Expected date for quotation on ASX	29 June 2021**

• Other than the date of lodgement of the Prospectus with ASIC, the beginning of the exposure period and the opening date, the above dates are indicative only and subject to change. The Company reserves the right to vary the dates and times of the Offer, including, subject to the ASX Listing Rules and the Corporations Act, to further extend the Closing

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Date or to accept late Applications for New Shares (either generally or in particular cases), without notifying any recipient of the Prospectus or any Applicants. The Company also reserves the right to cancel or withdraw the Offer at any time before New Shares are issued to successful Applicants. If the Offer is cancelled or withdrawn before the issue of the New Shares, all Application Money received by or on behalf of the Company will be refunded to Applicants, without interest, within the time prescribed by or otherwise permitted in accordance with the Corporations Act.

**The quotation and commencement of trading of Shares is subject to confirmation by ASX.

The Directors do not believe that this amendment is materially adverse from the point of view of an investor.

3. Commencement of Drilling Works and Related Party Loan

Site preparation works at the Company’s Alahiné licence located within the Siguiri Basin in North East Guinea are continuing with the construction of roads and drill pads to support a planned 5,100m reverse circulation drilling programme. The programme is planned to commence in late June 2021.

To enable the preparatory site works to be completed on time and to pay a deposit to secure the drilling contractor, David Sproule, a Director of the Company, has provided a loan facility of up to $250,000 to the Company ( Loan Facility ). The Loan Facility will allow the Company to begin its planned activities as outlined in Section 5.6 of the Prospectus, without delay arising from the extension of the Closing Date.

The terms of the loan are nil interest with repayment either from the proceeds of the Offer or when all Directors other than David Sproule are satisfied that the Company has the resources to meet the repayment.

The Directors do not believe that this amendment is materially adverse from the point of view of an investor.

4. Approval of Supplementary Prospectus

The issue of this Supplementary Prospectus by the Company has been duly authorised by a resolution of the Directors.

Each Director has consented to the lodgement of this Supplementary Prospectus with ASIC in accordance with section 720 of the Corporations Act and has not withdrawn his consent prior to lodgement.

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Dated: 28th May 2021

Signed for and on behalf of Polymetals Resources Ltd.

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Dave Sproule Non-Executive Chairman Polymetals resources Ltd

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