QMINES LIMITED — Capital/Financing Update 2021

Jun 30, 2021

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ASX:QML FSE:81V

QMINES LIMITED Queensland’s Next Copper & Gold Developer…

1 July 2021

CLEANSING NOTICE

QMines Limited ( QMines or Company ) ( ASX:QML ) advises that it has issued 176,667 fully paid ordinary shares at $0.30 to sophisticated investors in consideration for services provided and gives this notice under section 708(5)(e) of the Corporations Act 2001 (Cth) ( Act ).

The Act restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A. By giving this notice, the Shares noted above and in the Appendix 2A lodged today fall within the exemption in section 708A(5) of the Act.

For the purposes of section 708A(6) of the Act, the Company gives a notice that:

1. the Company issued the Shares without disclosure under Part 6D.2 of the Act; and

2. this notice is given under section 708A(5)(e) of the Act; and

3. as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and section 674 of the Act; and

4. as at the date of this notice, there is no information to be disclosed under section 708(6)(e) of the Act which is excluded information (as defined in sections 708A(7) and 708A(8) of the Act).

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Queensland’s Next Copper & Gold Developer…

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ABOUT QMINES

QMines Limited ( ASX: QML ) ( FSE:81V ) is a Queensland based copper and gold exploration and development company. QMines is seeking to become Australia’s first zero carbon copper and gold developer. The Company owns 100% of four advanced projects with a total area of 978km². The Company’s flagship project, Mt Chalmers, is located 17km North East of Rockhampton. The Project is a high-grade historic mine that produced 1.2Mt @ 3.6g/t Au, 2.0% Cu and 19g/t Ag between 1898-1982. Mt Chalmers has an Inferred Resource (JORC 2012) of 3.9Mt @ 1.15% Cu, 0.81g/t Au and 8.4g/t Ag.[1,2 ]

QMines’ objective is to grow its resource base, consolidate assets in the region and assess commercialisation options. The Company has commenced an aggressive exploration program providing shareholders with significant leverage to a growing resource and exploration success.

DIRECTORS

ANDREW SPARKE Executive Chairman

DANIEL LANSKEY Managing Director

ELISSA HANSEN

Non-Executive Director & Company Secretary

QMINES LIMITED

ACN 643 212 104

SHARES ON ISSUE

110,706,082 Fully Paid Ordinary

UNLISTED OPTIONS

4,200,000 exercisable at $0.375 expiring on 6 May 2024

ASX CODE FSE CODE QML 81V

This announcement has been approved and authorised by the Board of QMines Limited.

QMINES LIMITED

Registered Address: Suite J, 34 Suakin Drive, Mosman NSW 2088, Australia Website: www.qmines.com.au

Telephone (AUS): +61 (2) 8915 6241 Telefon (EUR): +49 (0)831 930 652 43 Daniel Lanskey , Managing Director Email: dan@qmines.com.au Peter Nesvada , Investor Relations Australia Email: peter@qmines.com.au Investor Relations , Deutschland Email: investoren@qmines.com.au

Notes:

¹ Refer to the Independent Geologist Report commencing on page 84 of the Prospectus dated 16 March 2021 available at - https://qmines.com.au/prospectus 2/

2 The Company confirms that it is not aware of any new information or data that materially affects the information included in the Prospectus dated 16 March 2021 and that all material assumptions and technical parameters underpinning the resources estimates in the Prospectus dated 16 March 2021 continue to apply and have not materially changed.

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