RESOLUTION MINERALS LTD — Capital/Financing Update 2020

Feb 3, 2020

4 February 2020

SUCCESSFUL SHARE PLACEMENT TO FUND THE 64NORTH PROJECT DRILLING CAMPAIGN

Resolution Minerals Ltd (Resolution, RML or the Company), is pleased to announce that it has received commitments to place approximately 91 million new shares at an issue price of A$0.05 per share to raise approximately $4.5 million with strong demand, (excluding costs) by way of Placement.

Funds raised will be used to advance the 64North Project which is adjacent to Northern Star’s (ASX:NST) Pogo Gold Mine, 120km from Fairbanks, Alaska in the Tintina Gold Province.

• NST’s world class high grade Pogo Gold Mine has an endowment of 10M oz of gold and started production in 2006, producing approximately ~300,000 oz / year at over 13g/t Au through this time.

• Recent discovery success announced by NST within 450m of our tenement boundary and open in all directions at the Goodpaster discovery demonstrates the highly prospective nature of the district and the immediate Aurora drill targets on RML’s tenements.

• Phase 1 drilling is expected to commence in four (4) weeks’ time.

• The Company is fully funded for multiple drilling programs.

Resolution would like to thank investors and our Joint Lead Managers, PAC Partners and Taylor Collison for supporting the Placement.

The Company will issue 90,966,737 fully paid ordinary shares (Shares) as follows:

• 50,000,000 Shares to be issued on 12 February 2020 as approved by shareholders at the 2019 AGM. The shares are issued at a 19.7% discount to the 5 day VWAP; and

• 24,580,042 Shares to be issued on 13 February 2020 under the Company’s 15% placement capacity; and

• 16,386,695 Shares to be issued on 13 February 2020 under the Company’s 10% placement capacity as approved by shareholders at the 2019 AGM.

• The shares are to be issued at a 11.3% discount to the 15 day VWAP.

The required Appendix 3B forms will be lodged in parallel to this announcement.

For further information please contact the authorising officer:

Duncan Chessell, Managing Director Resolution Minerals Ltd M: +61 414 804 055 E: duncan@resolutionminerals.com

CAPITAL STRUCTURE

Ordinary Shares Issued 113.9 M

Options and rights Listed options 6.1 M @ 10c Unlisted options 12.3 M @ 25c Unlisted options 15.0 M @ 6c Unlisted rights 6.0 M

Performance Shares Class A 9.6 M Class B 3.6 M Last Capital Raise December 2019 – Placement $1.5M @ 3.5c

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Len Dean - Chair Duncan Chessell - MD Andrew Shearer - NED Jarek Kopias - Co Sec

28 Greenhill Road, Wayville SA 5034