RESOLUTION MINERALS LTD — Capital/Financing Update 2023

May 4, 2023

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

RESOLUTION MINERALS LTD

Date of this announcement

Friday May 05, 2023

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Unquoted options with a $0.008 exercise price	82,521,949	05/05/2023
to be confirmed	and 30 June 2026 expiry.

Refer to next page for full details of the announcement

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

RESOLUTION MINERALS LTD

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

99617789732

1.3 ASX issuer code

RML

1.4 The announcement is

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New announcement

1.5 Date of this announcement

5/5/2023

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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Other

Please specify

Unquoted options (new class) per Appendix 3B lodged on 27 April 2023.

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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does not have an existing ASX security code ("new class")

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

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----- Start of picture text ----- New +securitiesASX +security code +Security descriptionNew class - code to be confirmed Unquoted options with a $0.008 exercise price and 30 June2026 expiry.+Security type ISIN codeOptionsDate the +securities the subject of this notification were issued5/5/2023Will all the +securities issued in this class rank equally in all respects from their issue date?YesHave you received confirmation from ASX that the terms of the +securities are appropriate and equitable underlisting rule 6.1?NoPlease provide a URL link for a document lodged with ASX setting out the material terms of the +securities beingissued.https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02658619----- End of picture text -----

Options Details
+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.00800000	30/6/2026
Details of the existing class of +security that will be issued upon exercise or conversion of this new class of
company option
Other
Description
Unquoted options with a $0.008 exercise price and 30 June 2026 expiry.
Any other information the entity wishes to provide about the +securities the subject of this notification

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

The issue was notified to the ASX via Appendix 3B lodged on 27 April 2023.

Issue details Number of +securities 82,521,949 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities Free attaching to placement shares.

Purpose of the issue

To raise additional working capital

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the 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 one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
RML : ORDINARY FULLY PAID	1,087,263,882
RMLO : OPTION EXPIRING 31-JUL-2025	624,508,035
RMLOB : OPTION EXPIRING 30-SEP-2023	74,634,643

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
RMLAK : OPTION EXPIRING 15-DEC-2023 EX $0.03	79,484,111
RMLAH : PERFORMANCE RIGHTS	47,014,700
New class - code to be confirmed : Unquoted options with a $0.008 exercise price and 30	82,521,949
June 2026 expiry.

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

82,521,949

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? N/A

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