RIEDEL RESOURCES LIMITED — Capital/Financing Update 2023

Jul 5, 2023

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6 July 2023

ISSUE OF CONSIDERATION SHARES AND CLEANSING NOTICE

Further to the ASX Announcement on 28 March 2023 and following the approval by shareholders at the General Meeting of Shareholders held on 28 June 2023, Riedel Resources Limited ( “Riedel” or the “Company” ) has completed the issue of 100,000,000 fully paid ordinary shares ( “Consideration Shares” ) to Flagstaff Minerals Limited to earn a 51% interest in Flagstaff Minerals (USA) Inc. (also see the Company’s announcement ‘ Riedel to acquire up to an 80% interest in the high-grade Kingman Gold Project, Arizona, USA’ dated 23 October 2020, and ‘ Placement and SPP to raise $3.0 million to Advance Drilling at High Grade Kingman Project ’ dated 2 May 2023) for further details of the earn-in).

The Company issued the Shares without disclosure under section 708A(5) of the Corporations Act 2001 (Cth) (‘ Act ’) and, in accordance with section 708A(6) of the Act, gives notice under section 708A(5)(e) that:

1. The shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

2. As at the date of this notice:

   • a) The Company has complied with the provisions of Chapter 2M of the Corporations Act as it applies to the Company;

   • b) The Company has complied with section 674 and 674A of the Corporations Act; and

   • c) There is no excluded information within the meaning of sections 708A(7) and 708A(8) of the Corporations Act which is required to be disclosed under section 708A(6)(e) of the Corporations Act.

Authorised for release by the Board of Riedel Resources Limited.

For further information please contact:

Susan J Field Company Secretary sfield@riedelresources.com.au

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