RONIN RESOURCES LTD — Capital/Financing Update 2023

Jun 28, 2023

ASX Announcement

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ACN 625 330 878

Registered Office: Level 21, 459 Collins Street Melbourne VIC 3000

Contact:

Phone: +61 (0)3 8630 3321 Email: admin@roninresources.com.au

29 June 2023

Successful Completion of Placement - Hornby Lake Lithium Project Exploration Program Fully Funded

Highlights

Board of Directors: Joseph van den Elsen (Executive Chairman)

Matthew Keen (Non-Executive Director)

Wilson Escobar (Non-Executive Director)

Marnus Bothma (Proposed Non-Executive Director)

Company Secretary: Justin Mouchacca

• $300,000 share placement to sophisticated and professional investors announced to the ASX on 21 June 2023 has successfully completed, and the Hornby Lake Lithium Project first phase exploration program is now fully funded.

• Completion of the Hornby Lake Project acquisition, a 123 km[2] package of contiguous lithium exploration claims located in Ontario, Canada, expected to occur during the week ending 7 July 2023.

• Analysis of available aerial photography over the Hornby Lake Lithium Project supports historical field observations of the presence of outcropping pegmatites.

• Exploration to commence early Q3 2023. First phase exploration will include further desktop review and target identification and be followed by surface mapping, and identification and geochemical sampling of outcropping pegmatites to determine their potential to host significant lithium mineralization.

Securities on Issue:

33,625,010 ordinary shares 3,925,000 unlisted $0.30c options 200,000 Performance Rights

Share Price – $0.155 (28 June 2023)

Market capitalisation – ~$5.2M (at $0.155)

Cash at Bank – $3.75M (31 March 2023)*(excluding $300k cap raise)

About Ronin Resources Limited

Ronin Resources Limited (ASX: RON) is an ASX listed company focused on the evaluation and assessment of the Vetas and Santa Rosa Projects (located in Colombia and 100% owned by Ronin) and the Hornby Lake Lithium Project located in Ontario Bay, Canada. The Company also seeks to evaluate and assess complementary new business opportunities capable of delivering shareholder returns.

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Completion of $300,000 capital raising to fund exploration of the Hornby Lake Lithium Project

Ronin Resources Limited ( ASX: RON ) ( Ronin or the Company ) is pleased to announce that it has completed the previously announced (see ASX announcement 21 June 2023) $300,000 capital raising through the issue of 2,000,000 shares at an issue price of $0.15.

Funds raised will be directed primarily towards exploration of the Hornby Lake Lithium Project.

The project is located in North-western Ontario, Canada, 15km west of Frontier Lithium Inc’s ( Frontier ) (TSXV:FL) PAK and Spark lithium projects. Frontier has reported a pegmatite hosted Mineral Resource Estimate for their PAK project[1] of 26 Mt @ 1.62% Li2O (M&I) and 32.4 Mt @1.41% Li2O (Inferred)[2] , including recent drilling results of 398m@1.88% Li2O[3] .

Historical works on the Hornby lake property have identified numerous fractionated granites containing both biotite and muscovite with pegmatitic material containing muscovite and feldspar minerals up to 4cm in length. These intrusive structures will be the focus of Ronin’s first pass exploration program which is targeted to commence in Q3 2023.

The work program, currently under development by the Company, will include a desktop review and refined target acquisition stage followed by a geological and geochemical field program to assess the property for lithium mineralisation.

Ronin Executive Chairman Joseph van den Elsen commented:

“We are delighted with the strong support we received for the placement from existing and new shareholders, and we look forward to completing the acquisition of the Hornby Lake Lithium Project shortly. The Project is an exciting addition to our asset portfolio and provides shareholders with exposure to Lithium exploration in a tier 1 mining jurisdiction. The Company looks forward to keeping shareholders informed as it progresses the exploration of its assets including the Hornby Lake Lithium Project”.

Section 708A Cleansing Notice

This notice is given by the Company under Section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ).

The Company hereby confirms that:

• (a) it has issued 2,000,000 Shares under the placement without disclosure to investors under part 6D.2 Corporations Act;

• (b) the Company is providing this notice under paragraph 5(e) of Section 708A of the Corporations Act;

• (c) as at the date of this notice the Company, as disclosing entity under the Corporations Act has complied with:

• (i) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and (ii) section 674 of the Corporation Act as it applies to the Company.

• (d) as at the date of this announcement, there is no excluded information of the type referred to in Sections 708A(7) and 708A(8) of the Corporations Act.

An Appendix 2A relating to the issue of shares has been lodged on this day.

• Ends –

1 Ronin has no interest in the PAK Project

2 Frontier Lithium Company Fact Sheet: https://www.frontierlithium.com/_files/ugd/dec7de_844a5e2cc2234a1babbbea1879ce5573.pdf

3 Frontier Lithium NI 43-101 Technical Report: https://www.frontierlithium.com/_files/ugd/dec7de_cdfc019ab6434df3b63256dcc7583099.pdf

This announcement has been approved for release by the Board of RON.

For more information, please contact:

Justin Mouchacca Company Secretary +61 3 8630 3321

The Company was admitted to the Official List (ASX code: RON) in December 2021 and focused on the assessment and evaluation of its 100% owned Vetas and Santa Rosa Projects, both projects which are located in Colombia. Since listing, the Company has acquired the Hornby Lake lithium project in Canada and continues to seek to identify, assess and potentially acquire other complementary new business opportunities capable of delivering shareholder returns.

Competent Persons Statement

The information in this announcement relating to Exploration Results is based on information compiled by Neil Hutchison of Geolithic Geological Services, who is a consultant to Ronin Resources, and a member of The Australasian Institute of Geoscientists. Mr Hutchison has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves”. Mr Hutchison consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward Looking Statement

This ASX announcement may include forward-looking statements. These forward-looking statements are not historical facts but rather are based on Ronin Resources Ltd’s current expectations, estimates and assumptions about the industry in which Ronin Resources Ltd operates, and beliefs and assumptions regarding Ronin Resources Ltd.’s future performance. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “potential” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are only predictions and are not guaranteed, and they are subject to known and unknown risks, uncertainties and assumptions, some of which are outside the control of Ronin Resources Ltd. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-looking statements or other forecast. Actual values, results or events may be materially different to those expressed or implied in this ASX announcement. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward-looking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Ronin Resources Ltd does not undertake any obligation to update or revise any information or any of the forward-looking statements in this announcement or any changes in events, conditions, or circumstances on which any such forward looking statement is based.