RESOLUTION MINERALS LTD — Capital/Financing Update 2021

Oct 24, 2021

25 October 2021

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TRENCHING PROGRAM COMPLETED TOURMALINE RIDGE

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• Resolution’s trenching program at the Tourmaline Ridge Prospect has been completed at the 64North Project in Alaska

• Two trenches 820m length in total were sampled and submitted for assay

• Testing for large scale hybrid vein hosted & Fort Knox style gold mineralisation

• Along trend from Northern Star’s (NST) Goodpaster Discovery and the Pogo Gold Mine

• Assay results anticipated in late December (USA labs experiencing high demand)

• Resolution is well funded with recent Placement & SPP

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----- Start of picture text ----- Goodpaster Pogo Gold Mine (NST)Discovery (NST)Aurora Prospects(RML)Tourmaline RidgeProspect (RML)----- End of picture text -----

Figure 1 Trenching at Tourmaline Ridge underway September - October 2021, with the Pogo Gold Mine in the background. The prospect is on trend from the Pogo Mine, Goodpaster Discovery and the Aurora Prospect.

CAPITAL STRUCTURE

BOARD

Ordinary Shares Issued 532 M

Options and rights Listed options 6 M @ 10c Listed options 74 M @ 12c Unlisted options 13 M @ 8c Unlisted options 59 M @ 4c Unlisted rights 11 M

Performance Shares Class A 9.6 M Class B 3.6 M

Last Capital Raise September 2021 - Placement $1.7M @ 2c

Craig Farrow - Chair Duncan Chessell - MD Andrew Shearer - NED Jarek Kopias - Co Sec

Level 4, 29 King William Street Adelaide SA 5000

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ASX RELEASE

Duncan Chessell – Managing Director Resolution Minerals commented:

The Tourmaline Ridge Prospect is in a great neighbourhood for gold mineralisation. The trenching program followed up a previously identified 1km by 750m zone with surface rock chips up to 118g/t gold. The completed trenching program is on trend from Northern Star’s Pogo Gold Mine, the Goodpaster Discovery and Resolution’s Aurora Prospect. The prospect is about 2km along the ridge line from Resolution’s Sunrise Prospect, which has demonstrated a 280m wide intrusion hosted gold mineralisation zone identified in drilling earlier this year.

The presence and grade of gold in rock chips over a large area highlights the potential for significant mineralisation close to the surface. Trenching is a highly effective, low-cost method to define the scale and structures of the gold mineralisation. A road was bulldozed to enable vehicle access from the existing all-weather Pogo Gold Mine Road. A significant advantage for an Alaskan Project is all-year around road access.

Further trenching programs and geophysics surveys are being considered - subject to results.

Summary

Resolution Minerals Ltd ( RML or Company ) is pleased to announce that the Company has completed its first trenching program at the Tourmaline Ridge Prospect at the Company’s 64North Project in Alaska.

The prospect lies on a NE-SW trend of mineralisation leading to Northern Star’s (ASX:NST) Goodpaster Discovery, which is undergoing a $21m resource drill out along strike. See Figure 1 and Figure 2.

Samples have been submitted to BV Laboratories (Fairbanks, AK) for assay and we anticipate a relatively long nine (9) week turnaround on results due to extremely high demand for assays at the conclusion of the North American field season.

Further trenching, geophysics and drilling programs are being considered and next activities will be decided once the results of the recently completed trenching program become available.

It was only during the summer months that on ground assessment could be made of the best location for trenching using historic rock chip data. Positively, with an access track now in place, the Tourmaline Ridge Prospect has year-round access for potential further activities.

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ASX RELEASE

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Figure 2 Highly anomalous surface geochemistry up to 118g/t Au extending over a 1km x 750m area with a prospective NE-SW trending structurally controlled zone along strike from the Goodpaster Prospect to the north-east (RML ASX Announcement 26/11/2019).

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Figure 3 View to the south-west with excavator digging out the trenches at the Tourmaline Ridge Prospect with the all seasons Pogo Gold Mine Road in the background.

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ASX RELEASE

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Figure 4 Alaska-Yukon Endowment Map - *Deposit sizes stated as metal Endowment (Resources & Reserves + Historic Production)

Resolution Minerals Ltd is a precious and battery metals mineral explorer with its gold focussed flagship 64North Project in Alaska; and holds two other major projects, the Wollogorang and Benmara Cu-Co-U Projects in Australia which includes the Stanton Cobalt Deposit.

*Alaska-Yukon Endowment Map – source of data: Pebble (Northern Dynasty, www.northerndynastyminerals.com), Pogo (Northern Star Resources, www.nsrltd.com), Fort Knox (Kinross, www.kinross.com), Donlin Creek (NovaGold, www.novagold.com), Livengood (International Tower Hill Mines, www.ithmines.com), Eagle & Dublin Gulch (Victoria Gold Corp, www.vgcx.com), Brewery Creek (Golden Predator, www.goldenpredator.com), White Gold (White Gold Corp, whitegoldcorp.ca), Coffee (Newmont, www.newmont.com), Kensington (Coeur Mining,www.coeur.com), Casino (Western Copper & Gold; www.westerncopperandgold.com) and Porphyry Deposits of the Northwestern Cordillera of North America: A 25-year update, Sharman et al, 2020 – Canadian Institute of Mining, Metallurgy and Petroleum.

RML holds a 30% interest in the 64North Project and is earning up to a 60% interest in stages (30%, 42%, 51% and 60%). The Project is owned by Millrock Resources (Vendor) (TSXV:MRO) see RML ASX Announcement 9 February 2021 for full details.

Resolution confirms that the Company is not aware of any new information or data that materially affects the exploration results and mineral resource estimate cross referenced in this announcement and all material assumptions and technical parameters underpinning the estimate continue to apply and have not changed.

For further information please contact the authorising officer Duncan Chessell:

Duncan Chessell Julian Harvey Managing Director Investor Communications Resolution Minerals Ltd Resolution Minerals Ltd M: +61 414 804 055 M: +61 404 897 584 E: duncan@resolutionminerals.com j.harvey@resolutionminerals.com W: www.resolutionminerals.com

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