QPM ENERGY LIMITED — Capital/Financing Update 2021

Aug 1, 2021

Announcement Summary

Entity name

QUEENSLAND PACIFIC METALS LIMITED

Date of this announcement

Monday August 02, 2021

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

ASX +securitycode	Security description	Total number of+securities to beissued/transferred	Issue date
New class - codeto be confirmed	unquoted options exercisable at $0.116 per option,expiring 2 August 2023	21,000,000	02/08/2021
New class - codeto be confirmed	unquoted options exercisable at $0.15 per option,expiring 2 August 2024	1,000,000	02/08/2021

Refer to next page for full details of the announcement

Part 1 - Entity and announcement details

1.1 Name of entity

QUEENSLAND PACIFIC METALS LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type ABN

Registration number

62125368658

1.3 ASX issuer code QPM

1.4 The announcement is New announcement

1.5 Date of this announcement

2/8/2021

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

Other

Please specify

Advisory and director unquoted options

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

does not have an existing ASX security code ("new class")

Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX

in an Appendix 3B

New +securities

ASX +security code	+Security description
New class - code to be confirmed	unquoted options exercisable at $0.116 per option, expiring2 August 2023

+Security type

ISIN code

Options

Date the +securities the subject of this notification were issued

2/8/2021

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02385313-6A1037089?access\_token=8 3ff96335c2d45a094df02a206a39ff4

Options Details

+Security currency AUD - Australian Dollar Exercise price AUD 0.11600000 Expiry date 2/8/2023

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Equity Securities

Description

unquoted options exercisable at $0.116 per option, expiring 2 August 2023

Any other information the entity wishes to provide about the +securities the subject of this notification

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to

the market in an Appendix 3B

the market in an Appendix 3B

Approved by shareholders at the general meeting held on 13 July 2021.

Issue details

Number of +securities

21,000,000

Were the +securities issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

advisory mandate

Purpose of the issue

To pay for services rendered

Additional Details

New +securities

ASX +security code	+Security description
New class - code to be confirmed	unquoted options exercisable at $0.15 per option, expiring
	2 August 2024

+Security type

ISIN code

Options

Date the +securities the subject of this notification were issued

2/8/2021

Equity Securities

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02385313-6A1037089?access\_token=8 3ff96335c2d45a094df02a206a39ff4

Options Details

+Security currency
AUD - Australian Dollar

Exercise price AUD 0.15000000 Expiry date 2/8/2024

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Description

unquoted options exercisable at $0.15 per option, expiring 2 August 2024

Any other information the entity wishes to provide about the +securities the subject of this notification

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Approved by shareholders at the general meeting held on 13 July 2021.

Issue details

Number of +securities

1,000,000

Were the +securities issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

Director Options

Purpose of the issue

Other

Additional Details

Incentive Package

Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise: (A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.) 4.1 Quoted +Securities (Total number of each +class of +securities quoted) Total number of

ASX +security code and description	+securities on issue
QPM : ORDINARY FULLY PAID	1,201,847,575

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

ASX +security code and description	Total number of+securities on issue
QPMAD : OPTION EXPIRING 21-MAY-2022 EX $0.03	20,000,000
QPMAE : OPTION EXPIRING 25-SEP-2023 EX $0.03	10,000,000
QPMAC : OPTION EXPIRING 17-DEC-2022 EX $0.03	20,600,000
QPMAF : PERFORMANCE RIGHTS	63,750,000
New class - code to be confirmed : unquoted options exercisable at $0.116 per option,expiring 2 August 2023	21,000,000
New class - code to be confirmed : unquoted options exercisable at $0.15 per option,expiring 2 August 2024	1,000,000

Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1?

Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

13/7/2021