RAPTOR METALS LTD — Capital/Financing Update 2023

Jun 28, 2023

Announcement Summary

Entity name

EASTERN METALS LIMITED

Date of this announcement

Thursday June 29, 2023

The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Total number of +securities to be issued/transferred

ASX +securitycode	Security description	Total number of+securities to beissued/transferred	Issue date
EMSAH	OPTION EXPIRING 09-JUN-2026 EX $0.10	10,244,359	29/06/2023

Refer to next page for full details of the announcement

Part 1 - Entity and announcement details

1.1 Name of entity

EASTERN 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 29643902943

1.3 ASX issuer code EMS

1.4 The announcement is New announcement

1.5 Date of this announcement

29/6/2023

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Previous Appendix 3B details:

Announcement Date andTime	Announcement Title	Selected Appendix 3B to submit quotationrequest
29-May-2023 10:02	Update - Update - Proposed issue of	A standard +pro rata issue (non-renounceable)
	securities - EMS

2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B? No

Equity Securities

Part 3A - number and type of +securities the subject of this notification (existing class or new class) where issue has previously been

notified to ASX in an Appendix 3B

Corporate Action Component Detail

ASX +security code and description

EMSAH : OPTION EXPIRING 09-JUN-2026 EX $0.10

Date the +securities the subject of this notification were issued

29/6/2023

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

As per the Company ASX announcement of 15 June 2023, the Rights Issue Shortfall has been fully placed.at an issue price of AUD0.05 per New Share, together with a free unlisted New Option for every two New Shares acquired exercisable at $0.10, expiring 3 years after 9 June 2023, unless previously exercised.

Issue details

Equity Securities

Number of +securities10,244,359
Were the +securities issued for a cash consideration?Yes
In what currency was the cash consideration beingpaid?	What was the issue price per +security?
AUD - Australian Dollar	AUD 0.00000000

Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities ofthe 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 oneapplication for quotation/issuance currently with ASX for processing.)
4.1 Quoted +Securities (Total number of each +class of +securities quoted)
ASX +security code and description	Total number of+securities on issue
EMS : ORDINARY FULLY PAID	46,051,110

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
EMSAD : OPTION EXPIRING 14-OCT-2024 EX $0.30	10,000,000
EMSAB : ORDINARY FULLY PAID RESTRICTED	15,886,417
EMSAC : OPTION EXPIRING 14-OCT-2024 RESTRICTED	14,250,000
EMSAE : OPTION EXPIRING 17-FEB-2025 EX $0.30	300,000
EMSAH : OPTION EXPIRING 09-JUN-2026 EX $0.10	13,737,701
EMSAF : OPTION EXPIRING 07-DEC-2025 EX $0.30	2,000,000

Equity Securities