RESOLUTION MINERALS LTD — Capital/Financing Update 2018

Feb 7, 2018

==> picture [65 x 8] intentionally omitted <==

----- Start of picture text ----- ASX: N27, N27O----- End of picture text -----

ASX RELEASE 8 February 2018

CLEANSING NOTICE - CONSIDERATION SHARES

Placement cleansing notice under section 708A(5)(e) of the Corporations Act

Northern Cobalt Limited (Company) has issued 600,000 fully paid ordinary shares in the Company at an issue price of $0.42 per share as consideration for acquisition of tenements in the Northern Territory (Placement).

Details of the Placement

Class of Securities: Ordinary shares ASX Code of the securities: N27 Date of the issue: 8 February 2018 Total number of shares issued: 600,000

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.

Webinar

Reminder to join our newsletter for invitations to our regular Q&A Webinars and latest releases via our website www.northerncobalt.com.au

For further information please contact:

Michael Schwarz, Managing Director, Northern Cobalt Ltd M: +61 402 101 790 E: mschwarz@northerncobalt.com.au

CAPITAL STRUCTURE

Ordinary Shares Issued 39.5 M Options Listed 7.4 M @ 20c Unlisted 12.3 M @ 25c

Performance Shares Class A 9.6 M Class B 3.6 M Last Capital Raise 20 Sept 2017 $4.2M @ 20c (IPO)

BOARD

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

WWW.NORTHERNCOBALT.COM.AU

EMAIL US

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 the tools to capitalise on the growing demands of the cobalt and energy storage markets.

WWW.NORTHERNCOBALT.COM.AU

EMAIL US

67 GOODWOOD ROAD WAYVILLE SA 5034 AUSTRALIA