PRODIGY GOLD NL — AGM Information 2022

Nov 28, 2022

ASX ANNOUNCEMENT / MEDIA RELEASE ASX: PRX

29 November 2022

Chairman's Address Annual General Meeting

Dear Shareholder,

Over the last few years, the Company has been challenged by restrictions placed upon it because of the Covid-19 pandemic. In particular, in the Northern Territory, we have had problems gaining access to remote areas, particularly in the later parts of 2021 and early 2022.

Notwithstanding these challenges, Prodigy Gold has managed to complete several high quality exploration programs. The Company has also been active in working with our Joint Venture ("JV") partners across several projects. We welcomed the opportunity to commence a JV over the Monza project area (previously known as Euro) with Newmont. We have also worked hard with IGO Limited on the Lake Mackay project, with a re-adjustment of the agreement where Prodigy Gold gains a larger holding in the gold tenements while maintaining the status-quo on the base metal tenements.

Through this great working relationship with these two Australian major mining companies, IGO Limited and Newmont Corporation, Prodigy Gold has maintained its position as the leading greenfields explorer in the Tanami Region.

Recognising that the Company has a very large tenement holding in the Tanami Region of the Northern Territory, it has been decided that an agreement with Stockton Mining on the Old Pirate project and surrounding exploration tenements is the right strategic move for the Company. Prodigy Gold is working with Stockton Mining to complete the agreement and it is envisaged that the transaction will be closed in 2023.

During the 2022 financial year we have seen the Board refreshed with all directors bar one being replaced. Mark Edwards commenced his role as the new Managing Director in May. On behalf of the Board, I would like to thank the previous Managing Director, Matt Briggs, for his work with the Company and wish him well with his new role.

Summing up, it has been an interesting 2022 financial year for Prodigy Gold, with several projects explored and some positive results delivered.

Some of the highlights for the 2022 financial year include:

• Completing one successful diamond hole into the Phreaker Prospect at Lake Mackay, intersecting a zone of copper, zinc, gold and silver mineralisation;
• drilling of 25 RC holes across several gold anomalies over the Lake Mackay tenements;
• continuation of scoping study work at Buccaneer, including communition and column leach testwork;
• aircore drilling at the Buccaneer Deposit, highlighting the potential to grow the Mineral Resource;
• approval of co-funding for Boco North drilling by the NT Government; and
• drilling completed by Newmont on our JV titles in close proximity to their Callie operation.

Another highlight is the recently announced move of our headquarters from Perth to Darwin. As Prodigy Gold is focused on exploration in the Northern Territory, it is considered logical to now have our head office in the same jurisdiction, allowing the team to continue building on the good relationships we hold with our regulators, suppliers and other stakeholders.

Since the end of the 2022 financial year the Company completed an underwritten two (2) for one (1) renounceable pro rata rights issue at an issue price of $0.01 per new Prodigy Gold share and raised approximately $11.65 million (before costs and expenses) (Rights Issue). Following the completion of the Rights Issue the Company repaid its A$2.5 Million unsecured loan facility agreement with Mount Sun Investments Limited and is now debt free.

The Company would like to thank all shareholders who participated in the Rights Issue and in particular APAC Resources for their continued support and for sub-underwriting the shortfall.

The Company is also pleased to announce that it has completed its Environment, Social and Governance (ESG) reporting again for the 2022 financial year. This an important guiding document for the Company moving into the future. The report has been released on the ASX and can be reviewed on our website. On the safety front, it was a great 2022 financial year with no Lost Time Injuries reported for the Company.

Whilst the last few years have been a challenge, the Board would like to thank all our dedicated staff members, for their commitment and work ethic. It has been great to see the flexibility of our staff ensuring we are able to get our programs completed while restrictions on travel and movement were constantly changing.

And lastly, and importantly, the Board would like to thank our dedicated shareholders. While the last few years have been a challenge for all, we are looking to focus on the development of our highly ranked assets for the benefit of shareholders.

Authorised for release by Prodigy Gold's Chairman, Gerry McMahon.

For further information contact:

Mark Edwards Managing Director +61 8 9423 9777