RESOLUTION MINERALS LTD — Capital/Financing Update 2018

Mar 20, 2018

ASX RELEASE 21 March 2018

ASX: N27, N27O

PLACEMENT CLEANSING NOTICE UNDER SECTION 708A(5)(E) OF THE CORPORATIONS ACT

Northern Cobalt Limited (Company) has issued 8,568,674 fully paid ordinary shares in the Company at an issue price of $0.35 per share under a placement ( Placement ).

Details of the Placement

Class of Securities:

Ordinary shares

ASX Code of the securities:

Date of the issue:

Total number of shares issued:

N27 21 March 2018 8,568,674

The Company advises that:

1. The shares offered under the Placement were issued without disclosure to investors under Part 6D.2 Corporations Act 2001 (Cth) (Corporations Act).

2. This notice is given under section 708A(5)(e) of the Corporations Act.

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

4. As at the date of this notice, there is no excluded information of the type referred to in sections 708A(7) and 708A(8) of the Corporations Act that has not already been disclosed to investors generally.

For further information please contact: Michael Schwarz Managing Director, Northern Cobalt Ltd M: +61 402 101 790

E: mschwarz@northerncobalt.com.au

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CAPITAL STRUCTURE

Ordinary Shares Issued 48.5M

Options Listed 7.0 M @ 20c Unlisted 12.3 M @ 25c

Performance Shares Class A 9.6 M Class B 3.6 M

Last Capital Raise 21 Mar 2018 $3.0M @ 35c

BOARD

Len Dean - Chair Michael Schwarz - MD Duncan Chessell - Exec Dir Andrew Shearer - NED Jarek Kopias - Co Sec

EMAIL US

WWW.NORTHERNCOBALT.COM.AU

67 GOODWOOD ROAD WAYVILLE SA 5034 AUSTRALIA

ASX: N27, N27O

Project Location

The Wollogorang Cobalt Project occurs in the far north-eastern corner of the Northern Territory, a mining friendly jurisdiction. The Project area is 180 km to the south-east of the population centre of Borroloola. The capital city of Darwin is 870 km to the north-west and the McArthur River Mine is approximately 150 km to the west-northwest.

About Northern Cobalt Ltd

Northern Cobalt Ltd is an emerging resource company engaged in the acquisition, exploration and development of cobalt mineral projects. The company is led by an experienced and diverse board of directors and management team with proven success in corporate finance, operational management, engineering and exploration project management. Their combined experience and commitment provides Northern Cobalt with

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67 GOODWOOD ROAD WAYVILLE SA 5034 AUSTRALIA

WWW.NORTHERNCOBALT.COM.AU

EMAIL US