PURSUIT MINERALS LTD — Capital/Financing Update 2021

Jul 22, 2021

22 July 2021

==> picture [469 x 71] intentionally omitted <==

----- Start of picture text -----

ASX Announcement
----- End of picture text -----

Phil’s Hill to Commence Drilling and Exercise/Expiry of Options

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

Pursuit Minerals Limited (ASX:PUR) (“Pursuit” or the “Company”) confirms the Mount Magnet Drilling Rig is anticipated to spud the 1[st] of 8 Diamond Holes in the upcoming 1500m program at Phil’s Hill on ~27[th] July 2021.

The Company has made plans to have an XRF unit on site and will expedite the assaying in Perth of compelling mineralised core to the extent it is identified.

Directors

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

Company Secretary Mark Freeman

Capital Structure

ASX Code	PUR
Share Price	6.1 cent
Shares	927,013,916
Market Cap	A$56.5 million
Cash	$8.7 million
Options
10c exp 31/10/21	76,166,073*
20c exp 28/8/21	15,000,000
25c exp 14/8/21	850,000
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 to shareholder approval

==> picture [138 x 171] intentionally omitted <==

The Company confirms that the following unlisted options will expire in accordance with the terms they were issued:

			Expiry Date exp28/8/21 exp14/8/21
	Number of Options	Exercise Price	Expiry Date
	15,000,000	20c	exp28/8/21
	850,000	25c	exp14/8/21

The Company further confirms that today it has authorised the exercise of 5,000,000 options to 5,000,000 ordinary shares in accordance with the attached Appendix 2A.

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

The Corporations Act 2001 (Cth) ( Corporations Act ) restricts the onsale 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:

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

  2. 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.

==> picture [506 x 10] intentionally omitted <==

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

==> picture [59 x 58] intentionally omitted <==