PURSUIT MINERALS LTD — Capital/Financing Update 2021

Sep 12, 2021

13 September 2021

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ASX Announcement
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Completion of Warrior Acquisition

The Company’s principal business objectives are the acquisition, exploration, development and operation of PGE, copper, nickel silver, gold, vanadium and other mineral deposits.

Directors

Peter Wall (Chairman) Mark Freeman (MD) Bob Affleck (Technical Director)

Company Secretary Mark Freeman

Capital Structure

ASX Code	PUR
Shares	927,013,916
Options
10c exp 31/10/21	76,166,073*
4.9c exp 6/11/21	2,000,000
0.7c exp 18/9/23	36,000,000
_Perfor Rights_**	7,500,000
* Listed PUROA
** 3,000,000 subject t	o shareholder
approval

Pursuit Minerals Limited (ASX:PUR) (“Pursuit” or the “Company”) is pleased to confirm that it has completed the acquisition of the Warrior Project following the grant and transfer of exploration licence E70/5378. The Company has today gone to allotment on 10,000,000 shares with an effective value of $90,000. The shares are escrowed for 3 months.

Pursuit Minerals Limited entered into a binding acquisition agreement with Corporate & Resource Consultants Pty Ltd (CRC) to acquire the Warrior Project, comprising 4 exploration licences in December 2020. Under the terms of the acquisition Pursuit have granted CRC a 1% net smelter royalty on all minerals produced from the tenements and a milestone payment of $200,000 in cash on achieving a mineralised drill intersection on one tenement of at least 10 metres of 2% nickel equivalent or better.

The Shares were issued in a single tranche using the Company’s existing placement capacity under PUR’s LR 7.1 placement capacity. Further details relating to the issue of the Placement Shares are set out in the Appendix 3B that the Company released on 2 December 2020 and the Appendix 2A as attached.

Notice pursuant to Section 708A(5)(e) of the Corporations Act 2001

The Corporations Act 2001 (Cth) (Corporations Act) restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A of the Corporations Act. By giving this notice, the issue of the shares (together, the Shares) will fall within the exemption in section 708A(5) of the Corporations Act.

Pursuant to section 708A(5)(e) of the Corporations Act, the Company gives notice 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 the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and section 674 of the Corporations Act; and

• c) as at the date of this notice there is no information:

• i. that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

• ii. that investors and their professional advisors would reasonably require for the purpose of making an informed assessment of:

  • a. The assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

  • b. The rights and liabilities attaching to the Shares.

For the purpose of ASX Listing Rule 15.5, the Board has authorised for this announcement to be released.

For more information about Pursuit Minerals and its projects, contact:

Mark Freeman – Managing Director markf@pursuitminerals.com.au

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Pursuit Minerals Limited | ACN 128 806 977 | ASX: PUR / PUROA Suite 4, 246-250 Railway Parade | West Leederville | WA Australia 6007 PO Box 214 | West Perth | WA 6872 Australia T + 61 8 6500 3271 | info@pursuitminerals.com.au | www.pursuitminerals.com.au