RESOLUTION MINERALS LTD — Capital/Financing Update 2018

Feb 7, 2018

ACQUISITION OF ARUNTA LITHIUM TENEMENTS COMPLETE

• Ministerial approval granted for transfer of 100% interest in nine (9) prospective tenements in the Northern Arunta Pegmatite Province, Northern Territory

• Prospective for lithium and other strategic metals, Li-Cs-Ta, REE (La-Ce)-Y-Nb and Co, used in the production of electric vehicles

• Field work commencing next week

Northern Cobalt is pleased to announce that all the conditions precedent to the acquisition of nine (9) tenements in the Arunta region in the Northern Territory have now been met and Ministerial approval has been granted to transfer 100% interest in the tenements to Northern Cobalt. Northern Cobalt’s geologists are travelling to site to commence mapping and sampling early next week.

Details of the transaction

• Northern Cobalt has issued 600,000 fully paid ordinary shares to Gempart (NT) Pty Ltd (and nominee) to acquire a 100% interest in the 9 (nine) tenements

• The share issue has been made under the Company’s 15% placement capacity under listing rule 7.1

• Complementary project to the advanced Wollogorang Cobalt Project

• Prospective for strategic metals including Li-Cs-Ta, REE (La-Ce)-Y-Nb and Co

	Granted tenements acquired in the transaction
Title ID	Location	Area km2
EL28837	Alcoota Pegmatite Field	88.71
EL28838	Alcoota Pegmatite Field	12.70
EL28886	Alcoota Pegmatite Field	50.79
EL29470	PlentyRiver Pegmatite Field	28.47
EL29481	Harts Range Pegmatite Field	43.48
EL29511	Harts Range Pegmatite Field	12.64
EL29851	Harts Range Pegmatite Field	25.26
EL30007	Harts Range Pegmatite Field	22.22
EL31147	Harts Range Pegmatite Field	114.52

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Videos
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CAPITAL STRUCTURE
Ordinary Shares
Issued 39.5M
Options
Listed 7.4M @ 20c
Unlisted 12.3 M @ 25c
WWW.NORTHERNCOBALT.COM.AU
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Performance Shares
Class A 9.6 M
Class B 3.6 M
Last Capital Raise
20 Sept 2017
$4.2M @ 20c (IPO)
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BOARD
Len Dean - Chair
Michael Schwarz - MD
Duncan Chessell - Exec Dir
Andrew Shearer - NED
Jarek Kopias - Co Sec
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Figure 1. Location of Northern Cobalt’s lithium and REE tenements

The Exploration Results have not been reported in accordance with the JORC Code 2012; a Competent Person has not done sufficient work to disclose the Exploration Results in accordance with the JORC Code 2012;

it is possible that following further evaluation and/or exploration work that the confidence in the prior reported Exploration Results may be reduced when reported under the JORC Code 2012; nothing has come to the attention of the Company that causes us to question the accuracy or reliability of the former owner’s Exploration Results; and

the Company has not independently validated the Exploration Results and therefore is not to be regarded as reporting, adopting or endorsing those results.

Managing Director Michael Schwarz said “These new hard rock lithium targets in central Australia are also prospective for other strategic metals used in electric vehicles such as the permanent magnets in electric motors and wind generators; typically, lithium-caesium-tantalum pegmatites and associated rare earth elements and niobium can be found in the project area. Ultramafic copper-cobalt (Cu-Co) mineralisation has also been identified in the region which further enhances the attractiveness of this prospective package as cobalt is the company’s number one target commodity. The Company will be pursuing mapping, soils, and rock chipping to work up drill targets over the coming months as we see this project as complementary to the advanced Wollogorang Cobalt Project further to the north. It aligns with our company strategy to pursue commodities essential to the renewable future”.

Project Location

The Arunta Lithium Project area is 180 km to the north-east of the population centre of Alice Springs. The capital city of Darwin is 1250 km to the north, in the Northern Territory, a mining friendly authority.

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For further information please contact: Michael Schwarz Managing Director, Northern Cobalt Ltd

M: +61 402 101 790

E: mschwarz@northerncobalt.com.au

• E: info@northerncobalt.com.au

Competent Person’s Statement

The information in this report that relates to historical exploration results is based on, and fairly represents, information and supporting documentation compiled by Mr Michael Schwarz who is a member of the Australian Institute of Geoscientists. Mr Michael Schwarz is a full-time employee of the company and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Michael Schwarz consents to the inclusion in the report of the matters based on his information in the form in which it is appears. The information in this announcement is an accurate representation of the available data and studies of the material mining project.

The exploration results reported in this announcement are publicly available and have been obtained from the Mineral Deposits and Mines database at the Northern Territory Geological Survey. https://dpir.nt.gov.au/mining-and-energy/STRIKE/strike-help/ntwide-geoscience-datasets . This information is collated and maintained by a government department and is not reported under the JORC 2012 Code and are considered reliable by the Company.

Glossary

Cu-Co = Copper-Cobalt

Li-Cs-Ta = Lithium-Caesium-Tantalum

Nb =Niobium

REE = Rare Earth Elements

Rare-earth elements are cerium (Ce), dysprosium (Dy), erbium (Er), europium (Eu), gadolinium (Gd), holmium (Ho), lanthanum (La), lutetium (Lu), neodymium (Nd), praseodymium (Pr), promethium (Pm), samarium (Sm), scandium (Sc), terbium (Tb), thulium (Tm), ytterbium (Yb) and yttrium (Y)

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